Transcripts For FBC Varney Company 20170811 : vimarsana.com

Things. Stuart with me, hes not going to get away with it. He says kim jong un should be very, very nervous, china state media says this, if north korea shoots first, china stays out, if america starts it and tries regime change, china steps in. Face to face standoff and thats what investors have to live with as the weekend approaches. The possibility of Armed Conflict with the markets are closed. Each new headline will have new impact. Follow it all minute by minute on Varney Company, the friday edition is about to begin. Stuart so where we are in 28 and a half minutes when the market opens . Slightly higher across the board. Heavy selling from yesterday has not continued so far this morning. But, remember, the duh has dropped just 1. 25 since monday. Here comes a tense weekend, would you buy ahead of that . We shall see. How about the price of gold . Thats another twomonth high at 12. 91. Flight to safety. Oh, will you look at this. Its can you believe this. Jc penny resulted the results first thing this morning, sales fell, weak profit, the stock is down 22 premarket, you look at the 3 bucks a share of jc penny. Awe, the retail ice age, the extraordinary retreat from bricks and Mortar Stores an shopping malls, you can actually see it, you can get a shopping space at the parking mall. How about that . Is there any sign at all that this retail ice age has bottomed out . No sign, stuart, itll bottom out in 2020. In the mean time 10,000 stuart 2020 . Dozens of major chain willing file for bankruptcy. 10,000 stores will close, tax receipts will be impaired and the taxpayers will pay for it. Stuart is this simply a story of online selling taking over, amazon taking over . Is that the full extent of the story . Its part of it but its also imagine lines of merchandising all over, we are 30 more retail footage than what shopper demands dictates and thatll be rationalized out. Macys, bloomingdales of the world but niemanmarcus could be good all the way to shop co. Stuart i saw some numbers just the other day, yesterday actually in the First Quarter of the year, foot traffic in macys stores down 8 . Second quarter, down 5 . Thats dramatic, have you ever seen that before . No, but the venders are also cheating, stuart, a Research Team has found, you go to gucci or get mules or leather slides, most popular shoe for women and gucci is not selling it to macys, bloomingdales, saks ahead of market, they are underallocating them so people go to gucci. Com to pay full price and theyre competing giving the Department Stores exclusivities on brand from burlington to tjmaxx to ross. Macys and others will take corrective action and at that point, the brands who are making a disproportion amount of money will pay less and the stores will reach bottom and start to bounce back. Stuart ouch, one more. We always look for the amazon story, weve got one, amazon reportedly getting into live event ticketing, by that i think, watch out ticketmaster, live nation, this is a whole other section and they are getting into it. Shoppers, consumers dreams answered, Worst Nightmare for ticketmaster, et cetera, once again, stuart, as you have reported so well for so long, jeff bezos is like the equivalent of gangus attacking every area to raise the standard of living of consumers by lowering prices and at the same time laying ways to retail. Stuart thats the virtue of online, prices are coming down. Thats the correct approach, isnt it . Youre totally correct, stuart. Stuart you invented the expression retail ice age and you have to see it fulfill. Thank you very much for being with us. Yes, sir. Stuart back to north korea. You cant escape this. President trump just tweeting this morning, here is the quote, military solutions are now fully in place, locked and loaded should north korea act unwisely, hopefully kim jong un will find another path. Peter brooks is with us, senior fellow with the heritage foundation. Going to repeat what i think is the president s position, here what seems to me, show them we can take them, convince them we will, have i got it right . I agree with that. I agree with that and im happy with what the president has been saying, its very tough but, stuart, critically important that people understand that diplomacy is strengthened when backed by military force, but we need north korea to fundamentally understand that picking a fight with us will end badly for them. We dont want to fight but it will end badly. Stuart kim jong un has faced down father and grandfather, faced down other americans president , kim jong un and his kin basically walked away from him and beat them, in fact, but you think that trump is a very different president and that his tough stand will stick, do you . I do. I do. I mean, i think you have to take the president at his word and the fact of the matter is that we have the military capability to end north korea as it is today. We dont want to do that. It would be a terrible thing to have another korean war on the Korean Peninsula but we want to deter them before they take acts like shooting missiles in the direction of guam. That might require us, even if its not meant to hit guam, it may require us to take military action and we may even have to take retaliatory action if they miss and hit american territory. They need to be deterred psychologically. Stuart this an editorial in global times, chinesestate run newspaper. The u. S. Retaliates, china will stay neutral, on the other hand, if the u. S. And shanghai composite carry out strikes and try to overthrow the north korean regime, china will prevent them from doing so. Does that sound to you like a minor tilt of china away from north korea . Yes, its very important, people should understand, your listensers listeners that the global times is the mouthpiece of the Chinese Government. This would not have been published if the Chinese Government did not approve of it. It shows some progress. You start with north korea, we will not be there to back you up, that is another deterrent to north korean actions but they also did lay out for us, message to us too, if you start it first we will protect our interest in Korean Peninsula and thats in north korea. I would say thats some progress in china helping us. I would imagine these sort of messages are sent privately as well. I wouldnt be surprised if there was a senior chinese official in pyongyang right now relaying this to senior officials in pyongyang and also north korean officials in beijing where they do have embassy. Stuart no response directly from the North Koreans, stand off over the weekend. Foolish thing to suggest, but you want to give us a forecast . [laughter] well, neil borus said prediction is hard about the future. We have not seen any action other than words over the last couple of days, other than the release of a canadian hostage, canadian prisoner which was good, humanitarian gesture on the part of North Koreans, so i think, you know, that things will be calm for a while and im hoping thats the case and that it opens doors to other opportunities such as diplomacy to deal with the situation. Stuart i was uncomfortable asking the situation and its pointing higher, peter brooks, thanks for being with us on a very important day. Thanks for having me. Stuart yes, sir, more on north korea on our next hour, pastor jeffreys says that god has given the authority to take out kim jong un, we will hear him out at 10 15 this morning. Check the futures again, please. Heavy selling yesterday, a tense weekend, look at this, we have now turned a little bit higher, all three, dow, s p, all of them turning a little higher. How about this . A College Student working for a group of affiliated with the democrats sentenced to a hundred days in jail, why hes been convicted of registering dead people as democrat voters. Voter fraud can we say alive and well. Next a member of the Democrat National Committee Says Debbie Wasserman schultz has left the party in shambles. Heavy criticism from one democrat to another, you will hear from her next. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. Whoa thats amazing. 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. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Stuart look at this. Weak sales, they make chips, remember, Computer Gaming systems, driverless cars, technology, artificial intelligence. They make those chips and that are down 5 , big drop. Look at the share price premarket of amazon, yes, we have another amazon story of the day. They signed a deal with robert circumstanceman, creator of the walking dead. Now whats this about . Exclusive content deal, first look at what robert can you recollectman delivers, walking dead is the highestrated cable series ever, 15 million, 16 Million People watched walking dead last year. Fear the walking dead, another series called outcast and reportedly working with creator of fargo for master mind and to blow out content. Stuart ive got them. Remember the democrats, john ossiff last special election in georgia, ash, whats he doing now . Ashley he outspent the republicans six to one and lost for about five points. Hes going to be on the panel this weekend telling the democrats how to win the elections in the 2018 midterm elections and by the way, appetizing this panel, there was a little side note that i found really interesting that said the Panel Description reads, weve suffered a lot in recent elections but part of that can be blamed on redistricting because thats why democrats have lost not because their message is not being received. Stuart now we know. Ashley there you go. A lot of irony. Stuart thank you. Ashley irony. Stuart democrats in Debbie Wasserman schultz state of florida, want her to, quote, to go away. One of the democrats joins us now nicky barns, member of the dnc, good to have you with us. Thank you for having me. Stuart Debbie Wasserman schultz has been in the eye of the storm so to speak, what has she done wrong that makes you want her out . Well, debbie has been in a lot of media focused on a lot of issues that dont help us rebrand the party in the way we want to be rebranded. We have to focus on our issues, we have to make sure that we are letting our voters know that democrats are the party who have passed legislation, democrats have had the party who are fighting for people. Stuart are you democrats are the party who address health care and can govern. Stuart are you the voice of the Bernie Sanders wing of the Democrat Party because Debbie Wasserman schultz structured the campaign away from senator sanders . Im the voice of the peoples platform of the Democratic Party. A lot of the people are Bernie Sanders people and a lot are Hillary Clintons people. We are people that want fair wages, affordable and retire with dignity. We are the next generation of democrats. Stuart has this have something to do with Debbie Wasserman schultz and the Technology Expert that she hired and kept on the payroll who was caught, charged with bank fraud trying to lever the country, one of three brothers who had access to democrats computers in the house including democrats in the House Intelligence Committee, you want Debbie Wasserman schultz to go, you want to sweep away this scandal and get it away from the Democrat Party . Yeah, we want to make sure that whatever with the young man and the laptop, all that investigation, we want to make sure thats properly handled but any information that may need to be discontinued or investigated thats handled with proper authorities and that that is handled with the house and taken care of appropriately. We dont want that in the media, we dont want debbie doubling on that stuff, we want to make sure that whats in the media we are taking care of people who elected us to take care of issues. We want in the media the peoples platform, we want a 15dollar minimum wage, we want a singlepayer health care system. Stuart youre in the Bernie Sanders wing, you in the Bernie Sanders wing, dont you . I am part of the progressive democratic. Stuart there you go. Nicky, thank you very much for being with us this morning. We do appreciate it. Thank you for having me, stuart. Appreciate it. Stuart thank you. This may turn out to be a feelgood story for a friday. Former Michigan State Football Player king, jr. , wide receiver, standing outside the Miami Dolphins Training Camp for over a week, hes holding a sign, will work for free. Hes on the show to tell his story, here is my question, did he land a spot on the team . You can find out in our 11 00 oclock hour. Google canceling a plan diversity meeting after some of its employees said they were concerned about their safety. The pc culture of Silicon Valley seems like its spinning out of control, isnt it . More varney after this times up, insufficient were on prenatal care. Es. And administrative paperwork. Your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you, too. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. ch baby crying eat fly me to the moon and let me play jet engine white noise airline ding bell mnemonic stuart well, how is that safe haven investing going . Well, gold is up a fraction. Still at twomonth high but not going up quite as fast as it did with noko threat. Google if the news again, canceled the company wide diversity meeting. Canceled, why . Conservative website put up the names of google workers who wanted to ask questions at this town hall meeting, they are saying they are being abused on the internet and Google Alphabet ceo canceled it and rescheduled it and seek a different venue, they are worried about internet abuse of workers in advance of the meeting and no clear theres no clear indication of what the workers own views are but they are being abused and harassed online. Stuart jeff zika is with us. Lets transfer from financial arena. This looks like to be a developing mess, gender discrimination in Silicon Valley, do you think at any point it affect it is stock price. It does. Stuart it does . Here is the bottom line with this, they have to make decisions when it comes to diversity and investors are going to begin to see if google loses the ability to be what exactly exactly what they say is to welcome all races, sex and no differences, if they failed to do that, they are going to lose credibility. If this is true that they are protecting workers, thats great, thats fine, but if they are going to not be toll rational tolerable, they will begin to lose people and revenue and earnings will suffer. Stuart if you want diversity, go for it. Right. Liz it would have been great have a town hall with the memo writer and have open debate about what hes saying with google workers debating him. That would have been a heck of a thing. Stuart that would not allow management to get a handle on the problem. They really want to control this thing. Ashley quite a split in opinions apparently in google as to how its being handled and what happened to this individual. Stuart fascinating story. You have not heard the last of it. Liz predominantly white men and asians who were software engineers, thats according to surveys. A lot of ceos cant help themselves, they have the immense amount of power, the platform, they cant help themselves but to put their own opinion out there among employees and want their employees to agree with them but unfortunately in the case of google and the other big tech companies, they cant do that. Stuart all right, we are coming up to the opening of stock markets, likes like we are going to be ever so slightly higher, certainly for dow industrials, s p and nasdaq. A bit of a surprise, isnt it . We are going into a tense weekend and coming out of a huge selling spree but will be up slightly. Back in a moment stuart well, this is going to be interesting. Friday morning, ten seconds for opening of wall street trading. The dow was down 200 points. Where is it going now . 9 30 eastern time. Hey, i see some green on the lefthand side. How about that . Im not calling this a bounceback. I am saying that there is some buying this friday morning. The dow right now 15 seconds in, 30 points higher, how about s p 500, thats a broader indicater, that too is up but only a tinny fraction 0. 6 . The nasdaq, where is that . It is up. 1 . So across the board this friday morning stocks are up but not this one, 395, 397. The price of jc penny stock in the first couple of minutes of business. Its down 15 . More on that in a moment. Amazon, two stories, not one but two stories reported in looking at getting into live event ticketing and they signed they are signing a deal with the walking dead creator, his name is robert circumstanceman. Hes going to develop original content for amazon. Ever so slightly higher. Would you, jeff zika, be buying stock on this friday ahead of a very tense north korean weekend . Not only of north korea and