President s spin and the economy varney and company is about again begin. Here are those lipstick on a big jobs numbers. 140 jobs created in august, not nearly enough. That is the slowest pace of the year so far. Up Participation Rate is at a generational low. Heres the middle class squeeze, average wage up 2 in the past year. Elizabeth hasselbeck, host of fox and friends is with us. Welcome to varney and company. Thank you for having me. You gauge the pulse of america every day on your program. You assess for us how midamerica, real people see this economy. You just gave the hide numbers so i will give the hard numbers. I think from experience and understanding and living in the world, you can say all you want that things are turning around. It certainly doesnt feel that way. When you look at employment, chronic unemployment, it hurts and it hurts generations of americans right now who were told find your passion and poured into a job something you love, we are not that country, you have people overqualified applying for jobs and what that does to someone who wants to get started in the workforce is crushed by a position that could be their starting place in a great career. The career is on the road to extinction for many people because they have to take a job that happens to be there if they are so lucky. The contradiction that the contrast between what we are told is going on and headlines of what is going on, the recovery is in progress, we are gaining ground and yet if you look at the ground floor, Middle America is losing ground. Have we got that poll handy . It was from a few. A week ago. Look at that. 57 of people when asked by you middleclass or upper class, 27 you said that is who we are, 72 in 2008. That is what i mean by the contradiction between what we hear from the president and congress and will we actually feel on the ground. Theres a disconnect between reality and what is told to us as americans but heres the difference. Americans a smart and they understand what is going on at home and if u. S. Women across the nation how things are going because theyre looking at the check book paying the bills and hitting the Grocery Store it is not looking good for them. They are making cutbacks in their own families with their homes in terms of education, even clothing with kids, cuts that are being made across the board within that home and people a feeling it. We need to elect leaders who went independent americans, not those who went increase dependence, should it be the declaration of dependence in our great nation . It should be otherwise and secondly the conversation needs to shift at home. Kids coming out of college, you have to not tell them what the law . Right now it is lets hope you find something and inject your passion into it. If you want to survive we are in this nation. Stuart it is the first time ever. The second time. The first was so long ago i forgive you for forgetting. You are young and if there are any excuses about age and you are the most fun to be with. It is been too long. Stuart stay for a few minutes. Let me deal with what is going on in the market, why you may ask is the stock market falling when we have this gross disappointment on the jobs front . Because maybe janet yellen will delay raising Interest Rates with the economy so weak . Psome are wondering if she hast run out of options for dealing with obamas economy. Dow industrials down 24 points, not a big selloff by any means. The s p 500 also ever so slightly lower, 0. 5 . Amazon has been a lot recently. It is down because it has been up so much recently. I have got to tell you also the amazon is using the Postal Service to deliver groceries in san francisco. An interesting little fact, that gives the Postal Service the shot in the arm that needs. Debate last night, the only debate in the california election, varney regular and california candidate for governor criticizing democrat jerry brown for a tesla which chose nevada over california or texas with battery factory. Tesla is pulling back today, down 12 bucks, 4 lower at numb to dollars and 0. 73. The grocery business must be looking up the. Supermarket chain kroger looking to hire 20,000 permanent employees. Not much influence on stock. Investors dont like that. It is of a quarter adding 0. 25. As for the price of gold when the market is flat boulders flat, 12. 67 is your price. With a weak economy you expect the yield on the ten year treasury bond to go down and that is happening. I see more Michael Cores bags on the streets, more than coach bags these days but i am not a great observer of these things. This has my interest. What is going on . Nicole you know what is taught and what is not and michael course has been a great contender taking market share from coach and the like. Stock is down 4. 3 . This is about more profit will be offered the point secondary offering by some of the founders that will be stepping down. And also phyllis to, these people were involved in the original idea and made the audio possible so with that we are going to have secondary offerings, a levon. 6 million shares representing a 5. 7 stake in the company and almost 1 billion and they will be stepping down off the board. Just so you know how it did in 2013, up 60 . Everybody would love that. The friar year, 2012, the first year in trading, 87 . Anybody would be happy with that at the end of the year. Stuart they must be walking away with a couple hundred Million Dollars each. Thanks very much. We dealt with the markets, dealt with the jobs report, lets get to the president. We are going to focus on geopolitics. Lookit that number please. The Gallup Daily Tracking poll has the president s Approval Rating down 38 . The other side of the colon is 54 disapprove. His handling of isis played a part in a low number, his latest news on that. The hunt for homegrown american terrorists, reportedly runs the social Media Campaign for isis, he knows computers, he is from boston. Reportedly is in syria now. President obama holds a News Conference. Will we hear a strategy to deal with isis from him . What tone will the president adopts . Will it be the fiery tone for the labor day rally on monday or the hesitant, almost confused rambling we heard on wednesday . Elizabeth is still here, glen for punishment today. Liz like it or not i am still here. Stuart such a stark contrast when he talked about isis, he was subdued, talking to a Campaign Rally of unionists he was passionate. What are we going to see today . Liz not sure. Unfortunately the president of the United States is playing dress up with words and with isis and the situation we are facing as a nation and we have men and women who bravely and courageous and want to defend this nation because the president seems to see the middle east as a peaceful operation. Were giving, we are helping. Our interests in the least in terms of not providing a launching pad for terrorists to come here and youre going to be asking average citizens who are not in the armed services, not in the military to defend their own homes if he doesnt step up to do something. My fear is he doesnt have the conviction and the belief system behind any strategy that he is going to lay out so i am not sure americans will believe him and i am not sure the World Leaders will believe him and that is a sad statement. Stuart i want to play a sound bite from president george w. Bush. This is from seven years ago. Listen to this. Begin withdrawing before our commanders tell us we are ready would be dangerous buys for iraq, for the region and for the United States. It would mean surrendering the future of iraq to al qaeda. It would mean we would be risking mass killings on a horrific scale. It would mean we would allow the terrorists to establish a safe haven in iraq to replace the one they lost in afghanistan. Increesing the probability american troops would have to return at some later date to confront an enemy that is even more dangerous. Stuart he got it absolutely right in july of 2007. Prophetic. Liz shortly thereafter, at linked to the white house, we were offered wonderful invitation to spend time with president bush as they were accepting office and i remember asking him about those decisions and how they would play out. I saw in his eyes the heart of a man, a leader, a father who made it difficult decision with the intent of keeping our nations eighth and he remarked and i will paraphrase that time would tell and he truly believed he did was write for the nation. We heard those comments sayre and the place we are in right now, the United States of america so vulnerable in so many ways and i for a, i encourage many people to pray for the president right now so that he can get a little of that in his heart. Stuart shortly the president will appear at a News Conference in britain. I believe he is going to answer questions and he will zero in on does he have a strategy to deal with isis . What does he have for the ukrainians . Russia has made another incursion into ukraine, close to linking up to crimea, dividing ukraine. What will the president say about this and will he deliver his message with passion . We will find out later on. Thank you very much indeed. Liz thank you for having me. Ashley stuart Dow Jones Industrials going nowhere. We have this awful jobs report. Virtually no Market Action to speak of. It is a difficult jobs report. As real weakness, real disappointment. We thought we would take off. Here comes the election. Of the republicans win the senate and they might, will we see real Economic Growth . Will there be the upswing we have been promised . Here it comes, yes or no. Steve forbes has the answer after a this. Musical chairs. Fun, right . Welllllllll, not when your traravel rewards card makes it so hard to get a seat using your miles. Thats their game. The flights you want are blacked out. Or they ask for some ridiculous number of miles. Honestly, its time to switch to the venture card from capital one. With venture, use your miles on any airline, any flight, any ti. No blackout dates. And with every purchase, youll earn unlimited double miles. From now on, no ones taking your seat away. Whats in your wallet . 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We are talking about the disconnect between the number economists handout end of the way main street actually feels. No disconnected day at all. That line job creation number 142,000, that was pretty bad. How does that feel on the ground . Look at this. Historic low for the Participation Rate, 62. 8 . America is not working. It looks bad, feels bad. Steve forbes is here. If the republicans win the senate in november do you think that will be the Inflection Point there really does get this economy going . You have to get policies change to get the economy going and even though they may control both houses of congress they dont get control of the white house. Stuart the field that may be obama and his policies will be in retreat and maybe theres a bright spot in the future, that could raise the economy. That could raise the stock market, the economy little bit and republicans have to show they stand for something other than they dont like what the president has done. Stuart you dont think most of the Republican Party in congress at the moment. So far they havent come up with much or put much out for their candidates to run on so yes. In spite of themselves they do well in november come january what they put on the table . Radical reforms for tax change . Real positive changes on the table about obamacare instead of just saying we dont like it . We will see. Stuart you want to see real tax reform, lower court for rates, lower individual rates and you dont think the republicans are going to do it. They should do it and there could be four five after november because a lot of democrats looking at 2016 running for reelection will want to have something positive to run on and the white house wont save them. Stuart in the democratss interests to get the economy going and the only way to do that issreal tax reform. All ends up at the white houseewith the president doing serious negotiation lizzie accuses republicans of being obstructionist, he is describing himself. Of you wanted to cut a deal with democrats and republicans in making substantial cuts in the Corporate Tax rate the consensus alreaay exists to do it but in wont. Stuart absolutely sure of that . You would hope he would be looking to a legacy other than a feckless Foreign Policy and stagnant economy. Stuart he could seize the last two years and open up to tax reform and get the economy going and sail into 2016 with a 4 growth rate for the economy. At 2008 it was pointed out you could get more government revenues, he finally said it is not fair. He is an ideologue, he thinks he has done what he needs to do to take over the financial sector, gum up the Energy Sector and take over health care, he thinks he is known rushmore, that is the world the lives in. That and improving his golf handicap. Stuart there you got that in. Republicans sweep the senate, increase the majority in the house, in january they put forward comprehensive tax reform deal, lower Corporate Tax rate, may be set around with individual tax rates, passes the house, it passes the senate, goes to the president. Do you think he would veto it . He could. Stuart these think he would . Some new surprises with his obstructionism, if he did sign it that would be great but even if he didnt people would see come 2016 real change is coming so the republicans should do it anyway whether the president signed the not. But when you dont think the republicans are going to do it. I can see the disappointment in steve forbess face. They are going to need leadership and we will see if the Speakers Office can provided and if the ways and Means Committee in the house can provided and if the Senate Finally says lets do something. Stuart you dont think it is fair. You dont think they have got what it takes to do it. You havent seen the signs of it yet in the house. Maybe after the elections they will get some mojo back. I havent seen it yet. Stuart how about this . America is the place to invest right now. Europe is in recession, japan close to recession, the world is a mess, america is stable, america is safe and we are expanding and 2 . America is the place to be. America is always the place to be even in europes like the 70s or what happened after 20082009. This country always gets back on track unlike other countries around world. We are going to pull ourselves out of this rut especially after 2016 so yes, this is the place to be and people like Vladimir Putin who think we are in terminal decline will end up on the ash heap of history but they will cause a lot of trouble. Stuart when you are not a stock market forecasts or prognosticator but do it anyway. You put your money to american stocks and keep it fair . Always keep it in the stock market especially retirement money. Ultimately the market is your friend. Individuals, why they lose and line in the market, they get in at the wrong time, out at the wrong time, you cant find these things, dont look at the averages, this market will always bail you out. Stuart dramatic at the end even if you dont like the republicans right now. Thank you very much indeed. Obamacare act. Malware and Malicious Software installed, personal data could be exposed, just another obamacare problem. Dont tell that to the architect of the law, zeke emanual. When he said this about his personal data on healthcare. Gov. I put my personal information on web site when i was trying to look for information. I was very confident and i was very confident. I dont want it today. In new york state, were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business gw, at startup. Ny. Gov over 12,000 financial adviso. So, how are things . Good, good. Nearly 800 billion dollars in assets under care. Let me just put this away. How did edward jones get so big . Could you teach our kids that trick . By not acting that way. Ok, last quarter. Its how edward jones makes sense of investing. Stuart watch out. Sales fall 2 present at the gap and down goes the stock 5 . The obamacare website act. The government says the attack happened in july, only detected last week. No personal information was stolen, as they say but malware was installed. Questions coming up about the safety and privacy of that website and we are joined by an ethical hacker, the ceo of nightlion security. They say malware was planted in the sight. You tell us what that means. Fortunately for us, the Mali