Transcripts For FBC Varney Company 20160307 : vimarsana.com

FBC Varney Company March 7, 2016

Rubio, the Republican Party flatout split. Tomorrow, michigan votes and hillary must win big. The end of a great love story, ronald and nancy reagan, they loved each other and it showed. Well spend time remembering what they did for america and each other. Varney company is about to begin. If youre talking about the wall street bailout where some of your friends destroyed this economy. You know excuse me, im talking. Let me tell my story, you tell yours. I will. I dont give speeches to wall street for hundreds of thousands. He was against the auto bailout. I voted to save the auto industry. He voted against the money that ended up saving the auto industry. Oh. I think that is a pretty big difference. Stuart id say things got a little heated between Hillary Clinton and Bernie Sanders. Ashley webster, i believe, watched this all the way through. Ashley all they did was criticize each other about things in the past, the auto bailout, the wall street bailout, they talked about Government Spending and intervention. They talked about trade, nafta, everything that was backwardsfacing. What about the economy . What about Foreign Policy . What about the issues, quite frankly, the republicans have been talking about in their debates although not with a lot of class. However, you know, this not with a lot of class. Ashley theyre trying to knock each other down about who they supported in the past and i want to know what are they going to do for us in the future . And we never found out. Stuart we will at some point, just not yet. Lets move onto the republicans because theres a new wall street journalnbc poll, shows trump up big in michigan, votes tomorrow. And then cruz, rubio, kasich. This poll was taken from march 1st to march 3rd. That is before thursdays debate and the weekend primaries and of course, before the romney attacks. There may be some momentum for cruz, this is new. He won big in maine, and kansas over the weekend. Robert jeffers is with us, sir, you are a trump a supporter, but its cruz who has got the momentum now. What do you say . Well, we knew this was going to happen. What you have happening, stuart, is the nontrump evangelicals who had been splintered among a variety of candidates are finally coalescing between the last conservative standing to oppose donald trump and that happens to be ted cruz. The good news for trump is, going forward, while evangelicals will continue to be an important part of the vote, they wont be as important and you see that in michigan. I mean, right now in michigan, trump and cruz are neck and neck when it comes to the evangelical vote, but the overall vote, trump is leading by a wide margin because evangelicals are not as about i go in michigan as say in south carolina. Stuart do you sense the tide is beginning to turn a little, that maybe america is not quite so keen on trumps style as it was . You yourself, youre an evangelical christian, surely you must have some reaction to trumps use of bad language and belittling his opponents on personal grounds. Are you comfortable with that in public life . Look, just because i have said some very supportive things of donald trump, and i do think he could make a great president , that doesnt mean i endorse everything he says or does, any more than he endorses everything that i say or do, but i still think he could make a great president. I think that americans are looking for leadership right now, and theyre looking, stuart, for an outsider, which really donald trump is the only true outsider whos left. Stuart can i just press this . Yes. Stuart would you be comfortable in donald trump was sitting in the oval office using profanity, vulgarity, obscenity, or what would you think if that happened . Well, i would go back to what i said to you last week. You know, George S Patton wasnt known for his great language or tone when he walked to his troops, he was known for winning battles and i believe, stuart, weve got to understand, were in a battle right now against islamic terrorism. Were in a battle against illegal immigration and drugs pouring into our country. I think americans want somebody who is going to win the war, not looking for somebody whose tone or vocabulary who theyre going to vote for. Stuart thank you for being on the show. Thank you. Stuart got to get to those markets, we did it friday, closed above 17k for the First Time Since january. We have been talking about this for a long time on this program. Dow futures right now suggest a mildly lower opening at opening bell. So we have 25 minutes away. 50odd points just below 17,000. As for the price of oil, look at that. Up today, 36. 26. Opecs talking 50 a barrel oil. Wishful thinking in my personal opinion at this stage, but ive been wrong before. And mike murphy is here and you said 17,000 last week and we got there. I did. Stuart now what . Now i think we have to turn here at this 17,000 level for a while. Stuart churn . Churn. So go up a little, go down a little. Oil has really been leading us and the move that we got in oil early this morning in the overnight markets as well. I think that that tells you that the market is looking to move higher not lower. So i think the move is to the upside. Stuart its early in the year. If ive got a chunk of money to invest early in the year, a lot of people do get a chunk of money for 401 k , the time you put it in. You would say a Cross Section of stocks would be better than bonds at the moment or some kind of commodity trade or real estate. Youd put it into stock, would you . Absolutely, a diversified portfolio of stocks is going to outperform any other type of investment. Two weeks ago would have been better than today no doubt, but still a great time to invest. Thats because you dont sell real estate. You dont sell Commodity Trading futures, youre basically a stock guy, arent you . Im a stock guy, but i also sell portfolios. So if in your position youd be better off than bonds and better risk adjusted return in bonds, thats what i would suggest. Stuart fair and balanced, welcome. Stay with us, well talk to you later. Earlier, i talked about the passing of nancy reagan. She and the president flatout inseparable, a genuine long lasting love. She passed away of congestive Heart Failure at age 94. I remember Ronald Reagan whose policies allowed me into the american dream. What influences did nancy have on those policies and the president s performance. Here with us is judy, you worked inside when they were president and first lady . I covered them, yes. Stuart the early part of the Reagan Administration . A few months before i went overseas. Stuart what do you say to the foreign proposition, no nancy, no reagan presidency the way we know it. I think its absolutely accurate. Stuart you do . I do, her influence as donald trump would say was huge. And she was a five foot four, size two, designer pit bull. She was enormously influential. He never made a move without consulting her and even the memoirs written afterwards acknowledge her influence and perhaps the most important legacy of reagan, which is shifting from a virulent anticommunism, calling the evil empire, to a country why whom the United States could do business. D day they wouldnt have happened without her giving that policy advice. Stuart i hate to tell you this, but the Washington Post is not sharing this view. Let me quote from the obituary upfront in the Washington Post this morning. It says, this is as first lady, from 81 to 89, mrs. Reagan had had a knack for inviting controversy, from her spending habits to her requests at the white house abide by an astrologer planning the president s schedule. A chaotic relationship with her children and stepchildren rivals a soap opera plot. Thats what they say right upfront in the obituary. The first paragraph of the obituary. What ever happened to speak no ill of the dead. It ive been accused and others, of fawning over mrs. Reagan. This is not true. You have to look at a persons record and life in whole. Of course, people have difficult relationships with children and stepchildren, she did, but does that take away from the fact that she was an enormously softening influence on him in some respects. Look at her position hold on a second. Ive got you, is this the left being nasty at the wife of Ronald Reagan. This is the new Washington Post trying to be quote, fair and balanced and start off with an atrociously tough and by the way, incorrect lead because nancy reagan did not spend government money redoing the white house and buying 200,000 worth of china. She did it through donations and that might be a welcome fact to some people who want to look at her as a symbol of greed as opposed to the restoration of glamour, it depends what you think of the role of the white house and the first lady in american society. Stuart thank you very much. Much more on nancy reagan throughout the program. I will say no to illegal drugs. I will say no to illegal drugs. And i will help my friends to just say no. Peyton manning is going out on top. Hes expected to announce his retirement today. Now, here is a chance for two guys with british accents to talk about football. Ashley why not . The type of football you throw. Stuart ashley, the best ever . He has to be one of the best. I dont know, tom brady has a pretty good career going right now. Two super bowl victories, five mvps, alltime leader for regular season touchdowns, single season record for touchdowns and amazing, we thought his career was over after he had a neck problem with the colts. Picked up by the broncos and flounders around and even this season when he went on to take the broncos to the super bowl title there were questions about, hes got a weak arm, not very mobile, a quarterback never has been, but you know what . He came through and hes also on top of all of this, a really nice guy and i feel like buying a papa johns pizza every time i see it. Stuart it could have been joe montana, dan elway, dan marino, no, no, Peyton Manning. Ashley i thinking joe montana, but there will be comments on this. Ashley sure, ill apologize to everyone. Stuart amazing. Back to nancy reagan, lets do this, im calling this the end of a great love story and thats what it was. Throughout this program were talking to people who knew and worked with the reagans. Joining us now is charmaine yost, former president ial assistance to worked daily in the white house. Off the top, give your best memory of nancys influence over Ronald Reagan and her relationship with him. Stuart, im going to something somewhat negative in 87 talking about the irancontra affair, usually controversial and one of the worst moments really of his presidency and what you saw there was him taking responsibility for something that was negative and now, we know, after the fact, that it was nancy reagan who was encouraging him to talk directly to the American People, to connect with that relationship that he had with the American People and you know, i was there in the white house at the time and it was a powerful, powerful moment of him drawing on that relationship that he had. They talked about him being the great communicator, but really, she was encouraging him with her own knowledge of marketing and Public Affairs and how to communicate. Stuart he did not want to do it, did not want to go to National Television and apologize or say what happened to irancontra, but she talked him into it. Are there any other examples where she had a profound impact on policy . Well, you know, youd played a clip of her talking to young people with the just say no campaign. That remains a standard of first lady activism. She set a high bar how she ent guised the antidrug community and really coming up with the just say no, simple and people made fun of her, but it was so effective to the fact that even today, probably young people who dont remember who nancy reagan was, do know just say no, it had that deep of an impact in terms of the the american psyche, that she was able to deliver that and commit to that in a way that showed what kind of communicator she was on her own. Stuart i wonder if its a passing of era of class and style. I wonder if that will have any influence on the current low tone of the debate, certainly on the republican side and measured measured america today. Its an interesting observation, i hope its not the passing of an era and the fact that were spending time to pay tribute to a remarkable woman, a true lady, the first lady, i think its a good thing for all of us, thats what she gave to this culture was a beautiful example of how you can stand in the center of your own power as a person, and the fact that she developed this relationship with an unusual and extraordinary man and that together in their partnership, she really changed this country. Stuart charmaine yost, thank you for being with us. Thank you. Stuart now this, we have heard things like this before, hearing it again. North korea threatening nuclear strikes on the United States and south korea. And ralph peters coming up with that in just a moment. Mitt romney continuing the vigorous attacks on donald trump. And romney asked what happens if he, romney was drafted at the convention. That makes absolutely no sense for someone to say if they were drafted by their country that theyd say no. At ally bank, no branches equals great rates. Its a fact. Kind of like social media equals antisocial. Hey guys, i want you to meet my fiancee, denise. Hey. Good to meet you dennis. Then your eyes may see it, differently. Ave allergies. Only flonase is approved to relieve both your itchy, watery eyes and congestion. No other nasal allergy spray can say that. Complete allergy relief or incomplete. Let your eyes decide. Flonase changes everything. Perfect driving record. Perfect. No tickets. No accidents. That is until one of you clips a food truck, ruining your perfect record. Yup. Now, you would think your Insurance Company would cut you some slack, right . No. Your insurance rates go through the roof. Your perfect record doesnt get you anything. 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Marco rubio was supposed to attack and seize the momentum, but his campaign has fallen flat and cruz is picking up, quote, the establishment view, the establishment supporters even though he is the furthest thing from an establishment candidate. So, i think the republicans are getting themselves into a box here, in order to defeat. Stuart definitely, yeah. In order to defeat the front runner not viewed as a republican, theyre going to nominate or may nominate someone who is going to have a much tougher time beating Hillary Clinton than perhaps donald trump. Stuart listen to what ted cruz had to say about the media. Just waiting to unload a whole slew of antitrump comment and commentary before the general election. Roll that tape. I think an awful lot of reporters, i cant tell you how many Media Outlets i hear, you know, have this great expose on donald on dinner different aspects of business dealings or were going to hold it until june or july. All the media attacks on donald not talked about now, september, october, november, if he were the nominee, every day on the nightly news would be taken donald apart. The media knows donald can win the general that hillary would wallop him. Stuart talking october, november, what about now . Its started, unloading on trump. We have the references to the fact that 300 people applied for jobs at mara lago and he hired 17 americans. U youre going to see the investigated reporter, but ted cruz is not immune. The stories, people lying in wait who detested cruz not a single senatorial nomnation. Stuart who detests him . In the most collegial of clubs, ted cruz almost aliena alienated himself by being for himself. Stuart only one supported him. And ive seen seen that from one in the senate. Stuart ted cruz, Barry Goldwater thats the danger. Stuart check it out. Theyre calling it a ghost octopus, a new species of octopus found in the waters off hawaii. Very small, its white, and its found in deeper waters than any other. I dont know how deep that is, but thats, its moving. Ashley cool. Stuart i guess. Look where the market is going to open. Ever so slightly lower, down maybe 40 points. What are you laughing at . Its a nice video. Ashley everything on this program. And ill see it on the oscar runway. Stuart are we going to get 17,000 or 16,000, which comes first . We are of. We are running this monday morning. We are down ever so slightly. Twenty points lower. Lets see where we go today. We have ashley with us. We have. With us. We have scott and mike murphy. All right. What do we have first . 18,000 or 15,000 . You are making that one easy. Fifteen and 18 is easy. We may take a breath. The momentum now is to the upside. Stuart scott, what say you . I do not think we will hit 18 and i do not think we will hit 15. We have not seen any fundamentally change since the beginning of the year. We are putting all of these people back to work. Our gdp is still low. We are not making anything. Something is wrong with the economy. I think that there is something wrong with the world economy. I will get to that in a second. We have the ecb meeting on thursday. They could push negative rates even deeper. S

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