Transcripts For FBC Varney Company 20160815 : vimarsana.com

FBC Varney Company August 15, 2016

He has a Foreign Policy speech, can he stay on message . If he does, could he gain ground on hillary who has some potential liabilities ahead. Congress about to get its hands on her fbi testimony. The dnc hack could reveal some damaging information, and her husband, the former president , is he a liability on the trail . Well, to the markets, green arrows, what else, to start the week. The dow, s p and nasdaq all in record territory. Big day for your money and we are all over it. Of course, Varney Company about to begin. Trying to insight chaos, threatening institutions we have, police are a government institution. We stand on the front lines of order and liberty. They want to attack order and liberty and after the chaos last night trying to incite chaos. That was Milwaukee County sheriff david clark talking about the two nights of violence in the city of milwaukee. He will be joining us again next hour, but emack, what exactly happened to trigger all of this liz so Sylville Smith had lengthy record, hes black, refused to drop a loaded gun that had 24 rounds in it according to the milwaukee sheriff. He was stopped at a traffic stop, told him to drop the gun, he didnt drop it. It was a semi automatic gun, the police are saying, the suspect, mr. Smith, had gotten in a burglary. Ashley the gun was stolen is what they said liz it was stolen. So he was ordered to drop the gun. He didnt, he turned and apparently was with the gun, the police fired the cops who has six years of service, also black, shot him. So, sylville is 23 and the officer is and the officer had a body camera working and that video has been reviewed. Thats a good point because the mayor is saying that the officer acted lawfully. But this sparked a number of nights of rioting and the National Guard has been called in. Ashley tammy bruce is here, happy monday morning to you. What are your thoughts on this. That video is key, this is where the body cams matter. Its obvious he had a firearm, thats no question. This is a matter of selfdefense secretaeffectively what were seeing with the riots, no matter the situation, its not about an unarmed murderer or horrible actions by the police, its now become effectively accepted to be able to do this, that there have been benefits to rioting, to destroying a city. You get invited to the white house sometimes when you do this. I think its a message where the culture is going. The fact that there has been no law and order. Locals Police Departments go out every single day to defend the community and yet theres been a federal message, a national message, elevating this kind of activity, romanticizing it and this is what the American People presumption of guilt versus innocence when a black person is shot and killed. This is an example where none of that is at play. You have two africanamericans, video of a problem, what police face every day and this has now turned into an excuse with no legitimate argument, when it comes to civil rights or anything else. This is what the problem is liz and Sylville Smith, the 23yearold fatally shot had an arrest record dating back to 2011 involving shootings, robbings, heroin, cocaine, possession. Ashley a long rap sheet. None resulted in charges, many of them were dismissed. But it tells you that its the black community, the communities of color that are impacted by criminals like this that the police are trying to save effectively the inner cities. Ashley right. Were going to argue against this and have riots against the people trying to defend the community, yes. Ashley tammy, thank you. Lets bring in Trump Campaign is yosurrogat surrogate, steve cortez. I think this plays into your candidates law and order candidate. Not that we look at coo destruction, thats die despicable. I think this is the most divided our society is. I think that plays into Donald Trumps hand because hes charting a new path. I think a couple of points are relevant for politics. One is that donald trump is a law and order candidate and going to have the backs of Police Officers, whatever their color, creed, their sex. Hes going to stand behind our men and women in blue. Theyve been disrespected and put into dangerous situations and hes going to do everything he can to change that. The second thing, im not excusing the rioters by any means, they have no right to be violent. But their anger, why are they angry . Theyve had little share of the American Dream, since the Great Recession, white incomes have been roughly unchanged and thats too bad, they should be rising, but black male incomes are down 9 since the end of the Great Recession, so thats a tragedy. There is a whole large swath of American Society thats not participating in or participating in the American Dream. The policies of Big Government and of dependency are simply not working for people of color. We need a different path. We need growth. Ashley we do, indeed. Steve, stay right there. More for you, just a little while. From trump to the hillary email scandal. Now, bill clinton chiming in and taking aim at the fbi. Take a listen. The fbi director said when he testified before congress he had to amend his previous days statement since he had never received any emails marked classified. They saw two little notes with a c on it this is the big egest load of bull ive ever heard. Ashley biggest load of bull ive ever heard. Tammy, congress about to see the testimony of hillary to the fbi, should bill be out there sounding off like this . I think the American People need to see what the team is going to be. Hes from a different era. He clearly seems to be at sea. Hes trying to defend her. Getting her into the weeds and people arent going to buy it. He clearly doesnt not sound well. He hasnt sounded well for quite some time and when it comes to congress seeing anything, you know, testimony or emails, i dont faith in congress to do anything, they have hearings, but nothing much happens. What weve seen from the federal government, nobody faces charges, nobody gets indicted, everybody goes off with their pensions and everyone is fine. Its more of a dog and pony show. Ashley let us not forget before that testimony there was bill clinton himself walking across the tarmac on an airport in phoenix and getting onto the plane of loretta lynn, the attorney general. That was just before the announcement. Theres more of a consideration now that weve learned in fact that Loretta Lynch in fact did refuse to investigate the Clinton Foundation, and theres some question now what at that conversation was really about. Did they not really think that comey was going to indict her and the messaging was how she was going to approach the foundation, which she has refused to investigate. But the fbi is now, this is may be what they may be upset about is going around Loretta Lynch through a u. S. Attorney here in new york liz couldnt bill clinton now that hes stepped in this, why the email server in the basement of the home. You knew what was going on. Thats your home, too. Thats the team for you. Ashley well, lets get back to your money. Stocks, record territory for the dow, s p and nasdaq, take a look at that. Looking higher. Oil, by the way, could be another big story by the way, higher again on renewed hopes for a production freeze. The russians saying, yeah, weve been on the phone with the saudis. Of course theyll say that because theyre talking up the price of oil. And steve cortez with us, youre a money guy, youre an everything guy, i think. Trying. Ashley listen, stocks, we hear, from some of our experts onset and through the last, certainly, month or so, believe that the market may be a little toppy, a little top heavy. Nowhere else to go, but up though, right . Right, well, it seems the path of least resistance right now is still higher. I think the main reason for that is Market Participants are increasingly confident the fed is not going to raise rates in september. Theyve got enough weak data, weak gdp reports, bad retail sales, that it will allow them to take a pass on hiking rates. So i think thats mostly what the rally is about, rather than an accelerating economy. From my perch, i have to say the chasm between the stock Market Making alltime highs pre market and the real economy, which is very, very sluggish and languishing along, to me the divide is too wide. I cant buy that the market. Ashley i understand that. But are we creating a bubble thanks to the fed if this isnt based on fundamentals . We could very well be. One thing that the Federal Reserve has shown its good at is creating bubbles, whether it was in 2000 or right before the Great Recession and it very well could be again now. I dont think were in bubble territory, i will say right now. The main reason theres not the leverage that we saw in the housing crisis or the tech bubble around 2000. I dont think were in bubble territory, no, i dont see an imminent crash, but at the same time do i think the levels are sustainable or higher prices back in . Unfortunately, no, i have to be cautious here. Ashley cautious, probably not a bad thing to be when youre talking about the market. Steve, stay here, once youre in youre not getting out, believe me. Sad video from louisiana, major flooding after a huge storm brought up to ten inches of rain to some parts of the gulf coast, southern louisiana, baton rouge again, 20 people had to be rescued. Some or roofs and four People Killed and some places 24 inches of rain. Back to politics, donald trump making a big Foreign Policy speech today laying out his plans to fight islamic terror. Ambassador john boulton, the maen who may be trumps pick for secretary of state. Hell come up on that. And apple, tim cook, says theyll have millions parked overseas until theres a fair tax rate at home. He sounds republican, doesnt he. More on the riots in milwaukee, businesses destroyed. Our next guest says that black lives matter is costing africanamericans a chance at good jobs. Lets take a look at oil for you. This could be a story of the day. Russia saying, oh, yeah, were talking with the saudis about production caps and thats pushing oil up, 45 a barrel and down a percent and a quarter. Amazon near an alltime high. Well get a lot of news from bricks and mortar retailers this week and if its not good news for them, of course, its good news for amazon, who will open up slightly lower when we get going in 15 minutes. Google near an alltime high even though its having problems getting its fiber optic cable up and running and theyre ditching those plans and looking a the wireless instead. More on that story coming you. The riots in milwaukee started with a policeinvolved shooting, the suspect allegedly pointing a loaded gun at them and refusing to drop it. Joining us now kevin jackson, a fox news contributor. Kevin, those facts were apparently ignored when it comes to the protesters . Yeah, they always are ignored and you know, once the story broke, everybody knew immediately that it was a black person shot by a Police Officer. The sad part about it was nobody seemed to and weve come to this point in the country where nobody seems to care that the guy was a criminal and essentially aimed his weapon at a Police Officer and got himself shot. Thats no longer the narrative. Ashley well, and the suspects sister coming out in front of the media saying its terrible. He should have been tased. Well, i will tell you most people i know would not want to play take a taser to a gun fight, but here again, the narrative is that we shouldnt be addressing criminality in the black community, we should be looking at ways to, you know, to appease the criminals. The fact of the matter is, these Police Officers put their lives on the line and its not their responsibility, you know, to try to mitigate a situation like that when their lives are on the line. They want to go home to their families as well. Weve come to this point in america where people are justifying this type of thing and its unfortunate because its not just this is not just a societal problem. This problem permeates itself into every aspect of what we are and one of the things i talked to the producer about was this was also a business problem. When you take a problem like this and i allow it to combroe grow and not put the became on the perpetrators or try to make the Police Officers the victims. Youll do the same thing with corporations. Everybody in america is held hostage in a situation like this when you cant recognize right as right and wrong as wrong. Thats essentially whats happening here. Ashley so you say, the black lives matter, the movement, is bad for africanamerican jobs because of that, right . Absolutely. Its horrible because of that. I was when ferguson erupted a few years back and i was talking to a young black guy and he said to me, kevin, i cant get a job and im frustrated by all of this and his contention was, the problems in ferguson were i mean, that was the reason for the problems in ferguson and i said youve got it backwards. The reason you dont have a job is because of what happened in ferguson. Companies build Risk Portfolios based on the least disruptive to them doing their jobs. Imagine if you had black employees and every time Something Like this comes up, as opposed to having a reasonable measured response to it, youre concerned that theres going to be an eruption within your company. No, no hr person is going to say that, theres no board of directors that would approve anything that would say, dont hire blacks, there are rules against that. Dont think its not factored into the risk factor of the company if somebody gets an email that quote might be offensive and we might have a lawsuit and somebody might hear a conversation erroneous and and suddenly youre in a lawsuit. And corporations look at this and they say, look, this situation is happening with the Police Officers where the false narrative of criminality trumping the police doing their jobs is potentially could happen to us. Look at all of the different leftist issues that occur when, for example, i believe target donated money to some sort of a pro Marriage Group or something, and the outcry is so loud that they essentially adjust corporate policy. These are the things that are affecting why blacks are unemployed in mass numbers. In the 1950s blacks were overemployed because we were the best employees and we went to work and we did our jobs and we didnt care. And had we continued in that vein, wed have an exorbitant number of fortune 500 leaders being black leaders, black ceos and black executives. But because of those, the mentality that is now pervasive, unfortunately, were underemployed, very much underemployed. Ashley all right, kevin jackson, very well put. We appreciate your time. Thank you. My pleasure. Ashley all right, lets check the dow futures for you. Market set to open up in a little. 47 points, new records could be set, whats new . Another exciting night at the olympics, the fastest man on earth and the gymnast, simone biles. And swimmers robbed at gun point in rio. Well tell you how it went down next. You both have a perfect driving record. Until one of you clips a food truck. Then your rates go through the roof. Perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claims centers are available to assist you twentyfour seven. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. To the olympics. The star athletes continuing their dominance. Gymnast simone biles became the First American woman to win three gold medals at the same olympics with the vault. And usain bolt, he pulled away and going across and smiling. The greatest sprinter ever, hes the favorite to win the 200 meter race on tuesday. Another story from rio. Ryan lochte and three other u. S. Swimmers were robbed at gun point while out in ray io. One reportedly put a gun to his forehead. The fact that weve allowed a goad medallist to be out there. Can you imagine if these guys had been kidnapped by terrorists. Ashley which isnt out of the question. Kidnapping, murder, drug running and weve allowed them to do that is kind of heartbreaking. The thing is, the cabdriver may have been in on it. Ashley all right. Moments away from the market open, lets get back to your money. Check the futures one last time. Dow, s p and nasdaq could be starting in the green and record territory again and just look at your 401 k . Were back with the opening bell next. Opening bell ringing 12 seconds from now. Were the only game in town. Where else can you find. Oily big story today. Reagans america does well. Were off to the races. Features up about 40 points. Already at 16, down 30 yes you can see the bucs have filled in. There we go. Can i hear 30. No. Heres the s p 500, close to a record as well. But nearly three points at 2187. A look at the tech heavy nasdaq at nearly nine points. 5241. The price of oil. And Russian Energy minister telling people been on the road secretly, perhaps not so secretly. 1. 5 of 4516. Now some individuals taxed the big tech names near alltime highs could relate to keep track of it. Amazon down slightly down 68. Google on the upside just barely at 807. Meanwhile, a look at stewarts favorite facebook gotten a little bit down 22 cents at 124. Microsoft on the way up a lot beloved friends. Here is apple up slightly. Ceo to are not happy about the u. S. Corporate tax rate. Added just a minute here joining us, lets make him a common. Shellady, stuart bruce. Stocks just want to go up enough. Keith fitzgerald, to you first. Central bankers have made it clear thats one thing they want to have happen. Because theyve gone up they can come down. But th

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