Transcripts For FBC Varney Company 20170626 : vimarsana.com

FBC Varney Company June 26, 2017

Despite intense political controversy, the trump rally holds. By the way, more good news for you. This is what i think is good news. Katherine dettwyler has been dismissed, the staffer at university of delaware who said Otto Warmbier got what he deserved. May i editorialize . I think she got what she deserved. Varney company is about to begin. Medicaid, alzheimers, strokes, heart conditions, we need medicaid. No middle class family can afford a nursing home by themselves. If President Trump keeps listening to paul ryan well you will be on the street, or something even worse. Do you believe that. Ashley no. Stuart they draw that back . Unbelievable. Liz thats wrong. Stuart i say thats stooping to another low, frankly and theyve chucked that violent video into the middle of the health care debate. We feel well give you more. And your money at work. No reaction to the turmoil in d. C. Ashley is with us this monday morning. Welcome back. Liz hes back. Ashley its interesting we got our durable goods number for may, it wasnt good at all. Its the lowest drop in six months and yet the markets continue to tread water and melt slowly upward. I think the businesses are waiting for some sort of regulatory relief, and the trump factor is out of the mark, its standing on its own two legs, if it comes along, thats icing on the cake. Stuart thats interesting, could it be, liz, the turmoil is talk and theyll pass it . I think theres no odds of recessi recession. The corporate profits are coming in, reform agenda would be icing on the cake. The u. S. Oil boom, without it it would be recession. The obama era would have. And hundreds of now manufacturing plants coming in and Petrol Chemicals on the side of it. Stuart its a great way to start a monday morning. Senator minority leader Charles Schumer handicapping the chances of the bill passing. Roll at that tape, please. I think its 5050. The democrats are doing everything we can to fight this bill because its devastating for the middle class. I think they have at best a 5050 chance of passing this bill, to get three senators to vote no, you can probably you can say yes, you can say no, probably 5050. Stuart surprised that senator schumer gives it such a high chance of success and tries to block it total. 5050 . Come in, congressman andy biggs, i should say, republican from arizona. Welcome to the program, great to have you with us. Great to be with you. Stuart i dont know where you stand on what senator schumer had to say, but i want to say that the Republican Party now understands that youve got to pass something on Health Care Reform. You absolutely must. Weve got that . Yeah, well, you know, we do have that and thats been the message from day one. From the election, and ill tell you Something Else about it, this bill kind of straddles a socialist type of medical insurance regulatory system right on top of the obamacare system. So thats really what the issue becomes. Stuart yes, but thats just about health care. The issue is surely broader than that. The issue is surely, can the Republican Party show that its a party capable of governing . Can the Republican Party show that its not going to interrupt the president s growth agenda . Thats above and separate from passing health care. Right. Exactly, i mean, a lot of people are saying this Health Care Reform bill is a linchpin to getting the president s agenda through. I dont think it is necessarily. I hope we get something done, we promised repeal, but i think theres so many other issues that weve been engaged in Regulatory Reform and reduction. Stuart congressman, you cant slide away from this. If you dont pass Health Care Reform, we are stuck with obamacare. We are not going to be happy. Well, stuart, you have to realize something, this bill keeps you stuck with obamacare. Stuart no, it doesnt. Sir, sir, im sorry, it does not. All obamacare taxes, 21 of the 22 obamacare taxes are gone. The employer mandate gone. The personal, individual mandate is gone. Thats a pretty good start, isnt it . Thats a good start, but you keep all of the Regulatory Environment together. Its things like the community rating. Youve only modified it. Which means that the market is still going to be controlled by the federal government. The essential Health Benefits package is cant you change it later . Cant you change it later . Youve got to do something. Man. You cannot walk away from this and leave us with obamacare and the g. O. P. Looks bad. Well, the g. O. P. Is going to look bad with premiums continuing higher even after a promise that we would repeal and if premiums remain high, whats going to happen. Stuart how do you know that the premiums are staying high, theyre chucking into the Insurance Companies to make sure that premiums dont skyrocket and change them later on down the road. Are you okay with that . Im not sure that thats accurate. I know thats the goal, but im not sure that everybody will be happy adding to the deficits, cranking out more to Insurance Companies. Stuart please, dont walk away from this. Youve got to do something. Congressman, great having you on the show. Appreciate it. Thank you. Stuart what are you laughing at. Ashley you beat him up and then thank him. No, you didnt beat him up, but listen, his point was, what i dont like about what he said he says no were not going to walk away, but everything he says says were going to walk away on the other side of me ive got judge napolitano cheering on the libertarian, more socialist prop granaagandp and this monday morning, more importantly, look at the price of gas, 2. 26. Ashley wow. Stuart four states are averaging below 2 a gallon. Buck 92 South Carolina. Buck 95 oklahoma. Alabama. Mississippi, a buck 99. My prediction stands, six states it or under by this friday. Now lets get to napolitano, get his head out of that there phone. Im getting emails from members of congress. Cheering on the libertarian. Stuart oh, no. [laughter] three items expected from the Supreme Court today. Expected to rule on the president s travel ban, a ruling on religious freedoms expected and Justice Kennedy could possibly announce his retirement. The aforementioned napolitano is here. The travel ban comes down when . I believe at 9 30 eastern time this morning. So, youre talking 20 minutes from now. Stuart what do you expect . I expect that the president will not be happy. I expect that the Supreme Court will decide to leave the restraints in place. This is just my gut feeling. I have argued many, many times that the travel ban, the executive order is constitutional, is consistent with Authority Congress has given him, but the Supreme Court does not like to get involved in cases mid stream. These cases, hawaii and annapolis maryland, there havent been trials yet. Stuart i think its National Security and should get on with it. I agree with you. Stuart i dont think that the Supreme Court will see it that way and i hope im wrong. The issue is will the travel ban stay in place while the cases are litigated or the restraint on the travel ban stay in place . We will a find out at 9 30. Stuart this religious freedom question. Give me background, please. An interesting case, missouri has a law periodically it gives money to repave playgrounds to every school in the state of missouri, this year decided not to give them to certain religious schools, lutheran and catholic. They sued and said how can you discre discreme discriminate against us. And they say its a religious aspect. And they say its secular aspect. Its nothing to do with religion, this is major. Stuart et cetera its the rit large. And the justice wrote on this, and see if theres a fifth vote. Stuart and judge kennedys retirement, this is speculation. Justice kennedy told Justice Scalia many times that he wanted to leave when there was a republican in the white house. And when Justice Scalia died, he worried about who he would appoint. And he close Justice Scalias favorite clerk. Is Justice Kennedy comfortable to leave or spend a year or two working with the former clerk who is now his colleague. And why did Justice Scalia change a reunion of all of his clerks scheduled for october of 2018 to this past weekend . Im dropping you all kinds of hints. I dont know whats going to happen, but he has the floor when the court comes out at 10 00, and he may say nothing or the chief justice may say, Justice Kennedy wants to say a few words and the whole World Everybody looks to see, well, could this be the second justice appointed by President Trump. So our d. C. Colleagues have packed to that already. And plenty of hand signals to tell me and you and the world. Stuart ill see you shortly. Check the markets, where are we going to open . We closed last week shy of 21,500. Well be up today. Here is the story. The amazon story of the day, youre going to love this. Its filed for a patent for delivery drone towers. Let me explain, this is compared to a beehive for drones. They drop off packages at the lower level, drones pick them up and fly them away to deliver them. Thats amazon. Liz looks like a pigeon coop. Stuart futuristic. An early uber investor says that the scandals and shakeup of the company is not a big deal. 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Not much action in gold recently, but were down today 12 lower. 1,244 an ounce. Look at the stock of pandora, please. Its going up this morning, about 3 1 2 . Its a streaming music service, reports that its ceo and cofounder is going to step down. Thats enough to put the stock up 3 . 8 on that one. Uber, as you know, dealing with a lot of negative headlines, lawsuits, and the resignation of ceo travis kalanick. Joining us now is an uber investor, a partner at lead edge capital, and youre sitting on a ton of money, are you not . Were doing all right. Almost a billion dollars in capital under management. Stuart im talking uber. We do have a large piece of uber. Stuart and youve made a lot of money on it. Weve done well. Stuart and youre on my program saying theyll recover from lawsuits and kalanick, youre covering your investors. Got to do what youve got to do. Ill answer any questions. Stuart why do you think they can recover . Theyre in trouble. Sure, when i think about what the company has done over the last three months, theres been some bad reports that have come out on them. Theyve moved swiftly and hired eric holder to investigations. Theyve taken suggestions around diversity within the company. Inclusion, equal treatment of employees. And theyre trying to start administering those into the company and i think thats a great thing. Are seeing it daytoday as we speak. Have they changed the Corporate Culture . I always thought it was a rough and tumble start. Can you really change that quickly . I think having a hardcharging culture is a good thing in many ways. But you have to have inclusion, you have to have diversity, hire the right people and you know, to me, i feel like theyve started doing that so you see their new chief brand officer that they hired, looks wonderful. Theyve hired a new person to head off the initiatives. So, to me, it feels like theyre doing a lot of the right things and moving the right direction. Would you like to see a Silicon Valley top performer move into the ceo slot at oob uber . Sure, to me, you need somebody to move in the top slot thats been very, very good at building a fastgrowing company, but also understands the new ideals of the company as set forth as part of the report. When i think about the ideal candidate, sheryl sandberg. I think jeff weiner from linkedin, and able steer a large ship. Stuart you think theyve hit bottom. Kalanick is out, thats the bottom for uber and up from here . Companies have to weather storms, but they have a wonderful product, a great user base and they need to get things ready internally. Stuart what i want to know is when is the ipo . I think that thats taken sometime will take some time even if travis was still leading the company. Its billions on the Balance Sheet, your guess is as good as mine. Stuart if people like me wants a piece. Do you use the service. Stuart im thinking of getting rid of my car because ive got uber. Like millions of americans, thats part of it for us. Stuart im on your side, lad. [laughter] are you going to come back. Thanks for having me. Stuart good stuff. Thank you. Quick check of futures. Were going to be up 60odd points at the opening bell which is 11 minutes away. Well be back. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Show you the price of oil, up 43 a barrel. Now, this, the g. O. P. Health reform plan includes tax cuts. Surely they could jump the economy if we pass tax Health Care Reform. Come on in, a man who knows all about jump starting the economy with tax cuts, his name is art laffer, the former reagan economist. For the investor, art, the tax cuts included in this Health Care Repeal bill, thats the big deal is tax cuts thats the big deal . It is tax cuts thats a big deal. Warren buffett says hes going to save 680,000 on just 3. 8 addon. That means his income is 17 million and you know, but the point of it is, these tax cuts will spur the economy. Were going to get rid of the mandate, which is a enormous tax on people who want to do their on insurance. Get rid of the medical device tax and all sorts of taxes theyre going to get rid of and thats going to spur the economy and im very excited and i think its great. Your previous guest. Stuart yeah. Excuse me, your previous guest who says hes not going to vote for it because it doesnt have the other things that they want. You should never let the best be the enemy of the good. This bill is better than obamacare period. Stuart you go back to the 1980s. And when president reagan was struggling to get the second tax reform bill before congress, it took enormous amounts of time, arm twisting. Yes. Stuart sausage making. Do you believe that at the end of the day this time aroun

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