Transcripts For FBC Varney Company 20170629 : vimarsana.com

FBC Varney Company June 29, 2017

That is money in your pocket. The biggest banks in the land, they took the test, they emerged with a clean bill of health. All the financial stocks are going up, and look at that, bigtime. Politics is helping as well. Republican leader Mitch Mcconnell wants a new Health Care Bill tomorrow. The president said look for a big surprise. There is some new momentum for the growth agenda, and investors like that. Well, thats got the democrats worried. They plan to ramp up the outrage over the july 4th holiday. The demonstrators will be out there claiming death is coming. Overall, we have a positive start to the day, and weve got a big show for you. Blue apron feels the amazon effect. Martin shkreli channels lady baa georgia, and the president goes on an early fundraiser pulling in ten million in one night. Big day. Or Varney Company about to begin. Stuart when it comes to health care reform, do something, get something. Because anything obamacare [inaudible] its a piece of crap bill. Its a piece of crap law. Stuart youre getting rid of all the taxes, all of the mandates. [inaudible conversations] stuart thats nothing . Are you kidding, eric . Youre doing exactly what obama and the democrats did. Youre dealing with Health Insurance costs. Prices. Not the underlying problem of health care costs. Really reconsider your stand on health care. Stuart never. Never. [laughter] no, no, no. [laughter] i thought it was a pretty good debate. Eric bolling on the show yesterday, off to the a good start there. Now, we are expecting a new Health Care Proposal from the republicans, expecting it tomorrow. Economist and former capitol hill staffer david shmick is with us. David, something is better than nothing. Thats what i say. Are you with me. Actually, i agree with you 100 . Stuart yes i sympathize with bolling. He would like i mean, he says the bills crap. If you ask the American People, theyd tell you washington is crap, but weve got to deal with it. You cant perfection is the enemy of the good. This is not going to be pretty. As you noted, its sausage making. The fact is you cant have perfection. I would love to be a thin man, and lets say [laughter] male fashion model. [laughter] works two hours a day and makes 20 million a year, but its not going to happen. [laughter] stuart hold an on a second. Weve got senator rand paul talking about splitting the bill in two. We have senator mike rounds on fbn this morning saying some obamacare taxes will stay. Clearly, theyre negotiating. So youve been in the room. Youve been in situations like this before. I want you to handicap it for us. Is it a 50 50 chance of yes . Is it 60 40 . What says david smick . I think its maybe 55 45 yes. Heres the its so perverse, whats going on. The cbo, the congressional budget office, basically the eggheads, the geeks are theyre not partisan, but theyre so out of it. I mean, give you an example, i mean, in 2015 the republicans passed a bill that just simply repealed obamacare. President obama, of course, vetoed it. But what did cbo said . 23 million americans would lose their health care. Then in 2016 the republicans come back, and this time they pass not only repeal, but a replacement bill that had, like, 325 million in subsidies, and what did the cbo say . 23 million will lose their health care. In other words, the private sector doesnt matter. I think what youre going to see right now, its going to be very ugly. Theres going to be and you know what it is to get those cbo numbers down. They want to get the socalled people thrown off the rolls down to eight or nine million, and that would probably leave it to just, you know, 20yearolds who dont want to pay for maternity leave. Stuart just pacify everybody yep. Stuart do it, pass it, tinker later, adjust later. But for heaven sake, do it. Otherwise the democrats will do it, and youll have a british medical system on your hands in no time at all. Yeah. I dont i like eric bolling and some of the others, but they dont seem to you understand thf Mitch Mcconnell fails to get a bill passed by the end of september, that thats the end of fiscal year, that basically the republicans have a devils choice for next year. Stuart right. They have you can only put one thing on reconciliation, one thing. And itll either be tax reform or health care reform. Stuart yeah. I can tell you, theres a poll out now that says the public, the republican voters, 15 of them say if they dont, if the Republican Party doesnt address obamacare, were bolting the party. Not were going to be unhappy, were bolt toking the party. Bolting the party. Stuart david, thank you for being with us. Thank you for joining us today. My pleasure. Stuart were going to open the stock market ever so slightly higher, just pointing up just a bit. Remember yesterdays close only 74 points away from its record. You might get into record territory today as of this morning. Its a possibility. All the big banks passed the governments socalled stress tests, so you are going to see some serious green arrows there. Gas, now, the average National Price is 2. 24, we now have five states under 2 a gallon; south carolina, oklahoma, alabama, mississippi, missouri, tennessee right at 2 even. I think im going to be right. I said six states will be under 2 by tomorrow. I think im right. Speaking of cheap gas, one of our viewers sent in this, 1. 75 for regular. I can see that, i dont have to squint. [laughter] in oklahoma. Thank you, rick. You going to drive out there . Stuart the judge likes to get in early. Yes, he does. Stuart the amazon whole foods deal taking some steam out of the blue apron ipo. Yeah. And krogers is going to have their own athome meal kit. Blue apron hasnt been profitable, and plus were looking at what it costs to get its customers, really pretty high. Basically anywhere from 6070 of its customers ditch the service. Its not a subscriptionbase model. Customer use is episodic. So im telling you stuart not good. Looking at their financials, the way they report what it costs to get those customers like promotional rebates and discounts, theres shenanigans stuart theyre going out at 10 a share, lets see what they actually get when the market opens. President trumps reinstated travel order goes into effect tonight at eight, i think thats eight eastern. Certainly, 8 00. The list of whos allowed in has been released. Stepsiblings, half siblings, sons and daughtersinlaw, parents, all of them are allowed to enter the country. Not allowed in, nieces, nephew yees brothers and sistersinlaw and grandparents. Judge napolitano is here. Here come the lawsuits. Exactly. What you have seen is the executive branch interpreting the words of the Judicial Branch which only used the following phrase bona fide relationship with a person or an entity. But i suggest to how you that a what you just to you what you just told us is actually a lot clearer than what is a bona fide relationship with an entity. Is it a job offer . Is it an actual job . Is it an application to a university . Is it admission at the university . Is it employment at the university . Is it just one lecture in the next six months in all of that is going to be resolved by Administrative Law judges stuart the lawyers. And and the system jammed up until we can get some sort of a consensus as to what these words mean. My friends, justices thomas, alito and gorsuch, said a where did this phrase, bona fide relationships, come up with . The other six of you made this up. Who is the court to carve a hole in the president s executive order and define what goes in that hole . Thats what were going to be seeing before our eyes. Starting tonight at jfk airport. Stuart ah, you lawyers. [laughter] even when im on your side, you berate me. [laughter] stuart somewhere in the new testament the lawyers pile up burdens. Some of them, they liberate. [laughter] stuart thats not in the bible. New Airline Security measures for flight into america, more screening, better searches. Okay, let me turn this around for a second. On the radar screen is the possibility, not a proposal, but the possibility that domestic flight inside america will at some point ban laptops. Now, thats out this. Its floating around out there. What would judge napolitano say just a little bit of background. It is well known and well understood and universally agreed that an exploding laptop would be enough to take a phone down. An iphone wouldnt be because you cant get enough explosive in there. The government likes to act in a prophylactic way. In my world the people that have the most to lose when the terrorists strike are the airlines, and they should be responsible for their own on security ask. And if you want to fly on a plane that has heavy security, fly on that. Its not my world. The government demands uniformity. Stuart it is definitely not your word. And youre happy about it. [laughter] stuart stay there, ive got Something Else for you in the c block. Yes, watch out. The dow futures suggest a gain at the opening bell, about eight, nine points maybe. Were only 74 points away from the record closing high. A 24yearold former mormon missionary tossed in a venezuelan prison, accused of being a spy for america. The congresswoman whos trying to get him out. U. N. Ambassador Nikki Haley Says we need to keep the pressure on venezuela. She says the situation is so much worse than anyone expected, and shes right. National security adviser, general h. R. Mcmaster, says with north korea all options including using the military are on the table. More varney after this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. The toothpaste that helps new parodontax. Prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Stuart oh, watch out below. Pier one imports, weak sales. This going to be thats going to be down about 12 at the opening bell. Walgreens will buy half of rite aids stores and pay 5 billion. Instead of buying it outright for more than 9 billion. Down goes rite aid. Whoever wrote that, it was good. [laughter] u. N. Ambassador nikki haley speaking about whats happening in venezuela. Roll tape. We need to keep the pressure on no door row. There are signs hes going to start using his military and weapons, and anything youve seen on tv, it is so much worse. Stuart ambassador joining us now is john bolton. Hes with us. Shouldnt we just flat out intervene in this catastrophe . And by that, i mean get the cia to do manager or our military to do something . What do you say . Well, the catastrophes been at work for a long period of time. I think the maduro regime is in deep trouble. It has opposition from the military which was the basis for the chavez coup over the years. But, in fact, the opposition itself is badly disorganized, and their capability of governing even if they took over is open to question. Now, all that said, yes, i would do a lot more. I think that the threat that maduro most poses is not just inside venezuela. I think hes being manipulated by the castro regime in cuba. I think venezuela, because of its uranium regime, second biggest in the world stuart what would you do . I think the opposition would like to reestablish representative government, and i would find ways to help them out. My only concern is that the opposition itself has, is filled with problems. So nobody should be under any illusions this is going to happen quickly. Stuart president Trumps National security adviser, h. R. Mcmaster, he laid out americas strategy on north korea. Watch this, ambassador. So the president has directed us to not do that and to prepare a range of options including a military option which nobody wants to take, right . The threat is much more immediate now. And so, so its clear that we cant repeat the same approach, failed approach of the past. Stuart so what would be a military approach . Well, the argument is that north korea is very close to having the capability to drop Nuclear Warheads on the United States via a ballistic missile. Is and one option would be to go in and troy the launch and destroy the launch area, the Test Facilities and some of the nuclear facilities. Danger is that in retaliation north korea could easily attack the northern suburbs of seoul which are right across the Demilitarized Zone there north korea. And i think everybody agrees its not a happy option. But the fact is weve failed for 25 years because of diplomatic efforts to chitchat north korea out of nuclear weapons. And i think what mcmasters saying is we didnt do that anymore, although we havent launched a different strategy yet. Stuart if they can threaten los angeles with an icbm, with a nuclear tip, respect we justified in arent we justified in shooting down any missile that they set out over the sea of japan . Sure. And if we had an Effective National Missile Defense program, id be confident we could do that. But after eight years of the Obama Administration funding of what the Bush Administration had started was gutted, basically. So, no, we dont have adequate Missile Defenses at the moment. Stuart okay. Mr. Ambassador, thanks for joining us, sir. Glad to do it. Newt. Stuart and now we have pope francis getting political again. A group of italian leaders, quote, force people to work into old age. That is depriving young people of a good job. A couple of resident catholics for you, Elizabeth Macdonald and judge napolitano. Lets go to you first, judge. Oh, no, were going to do that after the break. Sorry. Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. The internet is waiting. Start for free today at godaddy. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Stuart well, minute bought it, a private somebody brought it. A private firm bought staples for 7 billion. The stock is at 10. 12, a gain of 2 . How about apple . Did you know that today is the tenth anniversary of the introduction of the very first iphone . In the last ten years, more than a billion of them have been sold. All devices, yeah. Stuart all devices. Is that right . Yeah. Stuart i thought it was just iphones. Well check it. [laughter] stuart more on this later. Pope francis says it is both foolish and myopic for companies to force people to work into their golden years while depriving young people of the dignity of a job. Liz macdonald, judge napolitano both with us this morning. That is a political statement, isnt it . It is, but i look at it differently. I think its a metaphor for himself. I think hes dropping hints. Stuart about retiring . Yes. Stuart like the last pope . Yes. And i think if benedict lives for the another year, youll have three popes on the planet at the same time, which will be a first in the history of the world. He has said things like the pope will be back in ireland, the popes successor may view this differently than the pope views it. Hes dropped all kinds of hints about wanting to return as a simple parish priest in the slums of buenos aires to which can his time on earth. To conclude his time on earth. As soon as i saw this, i know liz is going to talk about, you know, the economy and labor unions and young people, which is what everybody thought he was talking about, but i just saw it through a different frame when he said it. Stuart you most certainly did. What else did he say, liz . Listen, trade unions, you are the prophetic voice to capitalism. You should not start acting like the institutions youre supposed to criticize. So hes still hostile to employers. And italy has a really high jobless rate for young people. [audio difficulty] this is well over average age 70. Stuart okay. Youre visiting italy shortly. Very soon. Im going to immerse myself in the society. [laughter] stuart napolitano, thank you very much, indeed. Were going to be higher at the opening bell. Look at the futures. Well be up, not much, but we will be up. 21,400, maybe 31,5. Here 21,5. Here we come. Back in a moment. 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. 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