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tv   Varney Company  FOX Business  August 4, 2017 9:00am-12:00pm EDT

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street see you sunday morning "sunday morning futures" talking about orrin hatch about tax reform 10:00 a.m. eastern "fox news sunday", have a great weekend, "varney & company" begins right now stuart over to you take it away. >> thank you very much indeed, the lawyer driven swamp clearly thinks it can end trump presidency soon the markets, they are looking at economic optimism politics money divorced going separate ways good friday morning, first this, president trump fired them up last night called thank you russian story a fabrication excuse for hillary clinton loss, democratic governor of west virginia switched to republican party is it base loved it. back in beltway a different story robert mueller reportedly about to impanel a grand jury for broad investigation of the president "washington post" publishes leaked transcripts of mr. trump's phone
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conversations with leaders of mexico and australia. >> outrageous foreign policy sabtajd from within embattled president an economy looking up toyota to bring manufactures jobs to america, build 1.6-billion-dollar plant to turn out 300,000 corollas a year, 209,000 new jobs created last month, i don't deal with expectations but tell you this, the so-called experts got it wrong again, on competing channel every single expert predicted way under 200,000, dow? gone up 8 straight sessions will go up at least the opening bell again, today. you tune into establishment media you will see a stream of contempt for our president, they are deliberately ignoring jobs growth and economic optimism. we are not. "varney & company" about to
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begin. ♪. >> the story, is a total fabrication. it is just an excuse for greatest loss in the history of american politics. that is all it is. most people know there were no russians in our campaign never were we didn't win because of russia we won because of you that i can tell you. >> trump talking about swamp from distancing talking about economic optimism as well. now watch this. >> the stock market reached yet another all time in history all-time high today. of the [cheers and applause] >> boosting retirement savings hopefully of he everybody in this room. have you all been helped? i think so.
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>> unemployment is at a 16-year low. >> that is the backdrop tell you who you this market is going to open up friday morning, quickly pb we are going up again, the dow clearly holding on to 22000 level, despite the activity of the swamp, new jobs 209,000 that market goes up 50 points opening bell, president trump tweeting this, after the jobs number came out here it is, excellent jobs numbers released only just begun many jobs are stifling regulations continue to fall, movement back to usa, steve cortes market watcher with us now, okay big picture -- there is a lot of economic optimism backed up by numbers from government. >> exactly right. >> well placed optimism this economy is accelerating there is so much good news out there, now you wouldn't know it if you only pay attention to mainstream media i think
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many ways a tail of two cities real america loves the already realized regulation what i believe coming cuts if taxes propelling real economic growth we saw the jobs number today we have seen consumer confidence in manufacture survey all-time highs, you have the other city washington, d.c., focused which is chasing don key hottie chasing russian wind mills don't exist. >> late yesterday afternoon the story of mule impaneling a grand jury i believe market dropped a bit, covered then in futures market after the close stocks went up more, so clearly, the financial world is discounting the world of the swamp and investigation. >> right, i think properly so why earnings are there, about both on corporate level stocks care most about also on individual level, now we saw uptick in this report wasn't just headlined it was in
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average hourly earnings very reassuring if not where it needs to be 2 1/2% stuart in a recovery we want to be 3% before finance minister cries would see four we've got work to do but point is the trend is positive and, again, i would implore viewers ignore that mainstream media wants to tell you about supposed crisis what is actually happening on the ground for most people a that they care about isn't russia but care about pocketbook, savings, retirement health care. >> issues that count. >> yes year making progress there. >> one number we have not dwelled on 349,000 people went back into the labor force. >> astonishing amazing and i think right we are trending though at 184,000 average in only job growth job excuse me gdp growth, like watching paint dry it is ticking up the trump agenda if it gets through, that would be amazing bank of america now saying trump could threaten a
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shutdown government shutdown to get his agenda through that is top analysts now saying at bank of america. >> okay, stay right there everybody please we are getting the first white house reaction to the jobs' report, on this program later on today gary cohn with us chief economic adviser to the president going to join us in about a half hour, from now. big announcement last night from government west virginia, watch this. >> today i'll tell you with lots of prayers and lots of thinking today i tell you as west virginians, i can't help you anymore being a democrat governor. so tomorrow i will be changing my registration to republican. >> rather enthusiastic fans in the background there did you see them? >> very enthusiastic rich lowry with us national reviewer editor fox news contributor big picture that switch from dpat to republican
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by west virginia governor that means there is only 15 governorships in america out of 50, that are democrat held good sign. >> amazing, state level the republican dominance is incredible they will lose ground no 018 still to have as many governorships west virginia no percentage of being a democrat basically any more, trump won state by 40 points, 5 5 counties won all 43, with 70% vote or more. >> republican territory. >> bush won in surprising west virginia people did not expect trending redder since. >> i got to bring up this leak, of the phone transcripts conversation between the president and leader of mexico and australia that is really serious stuff. surely, there are democrats out there will say don't do this. >> look you can imagine circumstance where you feel
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honor bound to leak a conversation trump hypothetically they say sprierg with president of mexico for war of aggression against guatemala something like that to embarrass the president the leakers in this case making -- the contents leaked months ago want transcript out there to feed anti-trump immediate. >> what about other side "the washington post", published this knowing that it was secret information but published any away i guess on the grounds we public have right to mother i don't think we have any right to know state secrets of this kind. >> right. >> do we? >> this isn't -- it is not like you are -- compromising a military operation. but what you are doing, is creating doubt in the minds of foreign leaders whether they can have a conversation with the president of the united states, that is going to be confidential that is a big deal to the just for this president but subsequent presidents you would hope that
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whoever in natural security establishment i assume where this is coming from doing this, would think about the consequences might like to idea hurting president trump but hurting the country at the end of the day. >> may sound crazy supposing "washington post" found out this is 1945, they found out in advance just suppose about the attack atomic bomb on japan they published the date of the bottoming and what would happen. can you imagine -- >> if it happened today would they do that. >> today, back then won't have -- today might. >> that is to say that about an american institution, is incredible. >> press has become adversarial less sense of common commitment to community. >> i am glad you are with us on this one. >> while you are here thanks very much we appreciate it. >> yes, sir. >> all right, more on the white house leaks coming up,
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here is the question, do they pose a national security risk we will ask that question, my answer is -- later this morning attorney general sessions holds a briefing on those leaks we bring it to you life when it happens watch it here watch that futures market, yes, we are going to be up again, despite it all despite the swamp we are going up yet again, when that market opens 20 minutes from now. . here is a good one for you, in particular some -- some british pubs banning cursing to become family freedomed. >> good luck. >> is this bloody nonsense next case president trump heads to fema today they are going to tell him who you bad the hurricane season is going to be this year, busy day for news covering it all "varney & company" returns after this. ♪ ♪ coming soon
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stuart: this is yelp premarket, there's more money coming in and it's up 22%. gopro, it thinks it will lose more money, 17%. can you work this? i can't. we are talking about brazilian deal of socker star neymar, there's more to it. ash. >> listen, he was bought by paris saint germain, psg natural called. he's considered the third best player in the world behind messy and ronaldo. his teammate messy of barcelona. justin: to get him out of his
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contract. 263 million, the escape clause. barcelona put that in there because they thought no one would be crazy enough to pay that. psg is owned by qatar. they are trying to find ways to improve image one of them is to buy one of the best socker players in the world for the french team. he probably more than 36 million a year, when you add that, other incentives plus the transfer fee that psg has paid, half a billion dollars for one player. is he that good? i don't think he's that good but it doesn't matter, great pr. [laughter] stuart: back to the white house leaks, let's bring in robert charles, former navy intelligence officer, simple yes, robert, do these leaks like we saw yesterday, the phone conversations of mr. trump and
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méxico and australian leaders, is that a direct national security threat? >> i think it is. it's a layered national security threat. i think from a legal perspective, felonies have been committed and frankly they have been committed if you put accumulative effect of the leaks together and it betrays for the law. sources tie today nsc documents or documents with classified information thanked was marked classified. that's serious from a legal perspective. from an intelligence officer perspective, to me, if i were the president i would be livid right now as i would be if i was leader of intelligence. you have undermined, sources, methods and confidence in the
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process of gathering intelligence. it undermines the president to have conversations but the doubt on everybody in the state department and intelligence community and wider national security that something they say may end up in the front page of the washington post. it crimps conversations with foreign leaders all the way down the chain. stuart: what do you make of the washington post publishing in the first place? >> you know, i think the media has to remember that they are also american and need to have a degree of responsibility in this process. i really hold first accountable government officials. if we are going to impanel a grand jury for the russia probe, we ought to be impaneling for leaks right now and bringing one straight in. this has more of fact that there's a breach of law and responsibility by government officials than by the media although the media needs to be responsible in the context of the first amendment. there's no reason why the
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transcripts should have been out there. they compromise the ability of the president and the confidence of foreign leaders in the united states. it looks like we are dysfunctional and we shouldn't be and technically, historically aren't, so we have to get on this. stuart: but there's going to be a press conference later on today, the attorney general looking to plug the leaks, the question is -- i only have 30 seconds, do you think they can be plugged, can they be brought to an end? >> i do. i will tell you right now many my views these are not leaks, this a full on faucet, this is not precedented, this is unprecedented, what will happen new chief of staff john kelly together with attorney general sessions and others in the administration will send clear signal that those involved in this kind of activity will be prosecuted. i would imagine a grand jury would eventually be impaneled and the american people deserve better than this, that's the bottom line. their security, foreign policy and their government depends on people respecting the law and not leaking classified intelligence. stuart: robert charles, you know
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what you're talking about. totally different subject, i have a question for you. are your dogs an cats ruining the environment? a study from ucla and the answer is, yes, they are, we will explain. liz: what? stuart: we will explain, more trouble for uber they leased defective cars in singapore, more after this.
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for a free quote today. liberty stands with you™ liberty mutual insurance. stuart: kevin brady is the chair of the tax writing committee in the house. he just called the job's report solid and a good report and he added this, this report also shows too many americans are still having a hard time finding good-paying jobs, getting a raise and providing for their families. tax reform is our best opportunity in a generation to change that. he's plugging for his tax cuts. got it. to uber, the company reported a new unleasing unsafe cars to drivers, more pr trouble, maybe legal trouble for uber. steve cortez with us this morning. you're a money guy. if uber plans to go public, i wouldn't go public. >> i concur the only advantage if you need liquidity at this point. they are so big. they don't
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need the capital to grow, clearly. i don't think they need liquidity. so, no, if i were uber i would say heck no, do not go public. aggravations particularly for a company like this which seems to be mired in headlines controversial headlines, particularly for them, the kind of shareholder activism that they could see could be annoying and meddlesome toward their growth, stay private and keep growing and i'm one of the happiest customers. stuart: me too. i want them to go public because i want to get on the action. revolutionary company, how on earth i can i invest on it if they don't go public? liz: he wants to come back. he's a revolutionary. stuart: i want to be able to buy a piece of it. i think americans should be allowed to have a piece of a company. liz: i'm in agreement with you. if they will go public they need an adult in ceo chair. ashley: they will find one despite negative headlines people love uber.
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liz: shareholder activism suits with all the problems now in uber. >> not just customers love them but drivers love them. they love the flexibility, they love the ability to work two hours when they want and when they have spare time. it's wonderful, everyone wins through a company that seems, again, to constantly find itself in meddlesome headlines and for that reason stay private. stuart: i think they probably will for the foreseeable future but i wish they wouldn't because it's a remarkable company and i would love to be able to invest just like microsoft. up 50 points. this is a very big day. the swamp is active in washington. they are getting down on our president. but we have a pretty good job's report and stock market that keeps on hitting new highs, it's friday morning and if you stay right there you will see another new high in approximately four
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minutes. stay there, please
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stuart: getting exciting these days because we know the market is going to go up in approximately 20 seconds. the dow at least will be up 30, 40, maybe 50 points. we also know that we have a pretty solid job's report in the
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background and very active swamp in washington and look on the left-hand side of your screen, new york stock exchange. group on the top there, the coast guard ringing the opening bell because this is, let me check my notes, 227th anniversary. we are off, 32, 29 points, 22,056, plenty of green opening up on left-hand side. up 36 at 22,065. 40 points higher, 22,068. we are up. the opening bell rang, we are up and the first 20 seconds a gain of 40 points, dare i say closing in on 22,100, just stay there, folks, ill might -- it might happen. check the s&p, .2%. not bad. the nasdaq been on a tear recently and went down a little,
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but went up a little .17% higher. who is with us? ashley webster. great return. his head is in the florida keys but he is back with us now. [laughter] stuart: july job's report, let's go around the block here. dr to start with, 209,000 new jobs, 345,000 return to labor force, is this good for the market or bad? >> i think good for the market, short-term, long-term it might encourage some fed tightening, so i think today we have seen the market answer already, it said we like it, it went up just a little bit as we got the job's report. not a huge push but as long as good news is good, the market is not focusing on the fed. >> good news temporarily but there's a few points. a lot of this is on optimism. the tax cuts do not pass, we are going to see a lot of this
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reverse because when small businesses are optimistic about their tax rates going declining, they hire, that will stop if this doesn't happen. >> i think that's one of the things we get out of the report. wage growth one thing they will look up. up 2 and a half percent year over year and that's rising and that couldn't get the fed to jump. >> it could get better for sure. lately we have seen quite a few positive signs on the economy and, of course, the market has gone straight up. now could the swamp and by that i mean political turmoil in washington, can the swamp end all of the good vibes on the economy? >> i don't believe so. trump has been effective in reducing deregulation, 460 regulations have died under sudden death under trump. that's very good in terms of overwriting any potential
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negative on the swamp. stuart: dr, will there continue be a divorce between political turmoil and washington and a stock market that goes up, still continuing to divorce? >> continuing to divorce. here is the key thing that's happened, every time we've had a problem with the administration or with the dysfunctional congress the market has had tinny tick down and went about its business telling us that it's focused on the optimism that jeff talked about over possibilities of tax reform and they still haven't discounted it. stuart: gary cohn in the program shortly, principal economic adviser to the president. whether he ask him about tax cuts and the swamp. we are going to do it, i'm telling you. we are in business for 3 and a half minute. we are up 22,078. let's go through all the big name tech stocks which we do on a very regular basis. what do we have this morning? green arrows, facebook, amazon,
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alphabet, apple. not bad. the best in the lot is microsoft. individual stocks, boy are they moving this morning. would you look at yelp, the stock opened with a 20% gain. totally different story at grub hubb, it's up. gopro forecast that it would lose money. we are going to lose money but less money than we thought up 13%. you can figure the market out, good luck. victoria secret, lb as in limited brands, 30 cents this morning. cost cuts, that's up 43 cents. half a percent. the movie theater chain amc still suffering from weak box office returns and i believe the company has trouble back in
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china nonetheless they are up nearly 3%. it's so backwards. here is a story specifically for elizabeth. [laughter] stuart: dunkin donuts changing name. would you buy the stock when it changes its name dr? >> i think the name change is something we've lived through when i was a little boy, we had sugar frosted flakes, we had super sugar crisp but now all of them dropped the name sugar, national progression trying to broaden appeal, nobody is going to think about it five years from now. stuart: dunkin versus starbucks, dunkin up 18% and starbucks half a percent. what's the problem?
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>> i don't like name change. keep dunkin dounts. just keep the name. you know what google's first name was, back rub. stuart: you're kidding me? >> no. stuart: mud crutch. [laughter] >> this brings me radioshack changed name to the shack and we all know what happened with radioshack. i agree with liz 100%, dunkin donuts is on iconic brand. no coincidence that they changed in california. [laughter] stuart: this is why you watch the show. serious stuff. fedex, this is important, fedex is going to drop holiday sircharges for most orderers.
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what exactly are they doing? >> home delivery. if you are wanting fedex delivery, november 20th and december 24th, christmas eve, you won't get hit with fedex sircharge, they want to undercut ups. ups is going to raise sircharges to more money. what a play by fedex, deliveries double to what more than 25 million in december. stuart: interestingly. ups is up and fedex is down. liz: interesting. >> ups is going to generate 10 to $20 million in that one month in surcharges. stuart: question which car travels furthest on a single charge? i would think it was tesla. ashley: no. they tested the chevy, 250 miles
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before it ran out of juice and the tesla ran out of juice at 235 miles, so win to chevy bolt, consumer report who is did all of this still rate tesla model s as number one electric car followed at number two by bolton -- bolt. >> i'm no fan of tesla and the snobby company that they have become. the fact that chevy beat them, i was smiling ear to ear on this one. [laughter] >> first of all, i would never buy a car that i have to plug in every 250 miles but the fact that chevy who is at gm who are experts at mass production is now going to scare off at tesla that it's horrendous at mass production. they have a serious problem on their hand and i'm very happy. [laughter] >> and you can buy two bolts and
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go 500 miles. >> good point. >> half the price, $30,000 and it's beating them. stuart: we are getting out of hand here. i have this for you. toyota and mazda combining, they are going to build a $1.6 billion plant in the united states instead of méxico. dare i say it, make america great again, it's part of that process. is that legit to say that? after foxconn goes to wisconsin, amazon hires 50,000 in a day and now toyota is bringing a plant to america. liz: 20,000. another factory in wisconsin. stuart: what did you say, 20,000? 20,000. i thought it was 50,000. take it all back. amazon story of the day. the company was hope to go fill 50,000 jobs on job's day now you're telling it was 20,000. >> we never expected to do 50k in one day. stuart: that's not what they
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told us. liz: $11 an hour to $14 an hour and they have health benefits and 401(k)'s. looked like there were lines but had 20,000. stuart: that's our video and jeff flock was there and lines snaking around the block. the lines were there. >> the lines were fife hours, first of all, the process that amazon needs to improve but i believe amazon is going the hit their goal of hiring, they need to improve process. stuart: this from the man who buys property close to amazon warehouses to make a killing. that's you, isn't it? >> amazon is creating jobs, amazon is helping the economy so, of course, i want to own real estate around them because they are the hot place to be. stuart: okay.
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we've got the dow up 50 points now, 22,079. you're very close to 22,100. who would have thought on election day when the dow was at 18,100 that by august the fourth or fifth, whatever it is, 22,000, closing in on 22,001. who would have thought? gary cohn, director of national economic council. welcome to the program. it's good to have you today. >> stuart, great to be with you. stuart: 209,000 jobs created last month. i say that's a little disappointing, i was expecting more, how about you? >> we are very happy with the number. we have now created well over a million jobs since the trump administration has come into office since election and the economy continues to grow. we have a gdp number last wining of 2.6% for the quarter. unemployment rate down 4.3% down
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to 16-year low, things are on course for the economy. we are pleased with what's going on. stuart: can i tax to you about tax reform for a moment? >> sure. stuart: i'm looking into this thing and it looks like it's going to be a slimdown tax cut plan, slimdown to just maybe tax cuts for individuals and tax cuts for corporations and it's not going to be paid for. is that how it's shaping up? >> no, i don't agree with that whatsoever. the way we are going to do taxes and the way we have to do it is it's going to have to balance, we need to do permit nanttax reform in the united states, the way you do permanent tax reform in the united states is that you have a balance over ten years. we are committed, the group of six is committed to do permit nanttax reform in the united states, that's what we are working on. i think you saw our statement last week, you can see that the group of us is completely on the same page, we are working towards real tax reform as well as major tax reductions in the
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united states. stuart: well, are you going to say that growth in the future will pay for the tax cuts now? is that how you pay for it? >> growth in the future will help us pay for tax cuts. it's obviously one of the initiatives. when you lower the corporate rate from 35% down to 15%, that 20% has an enormous multiplier effect in the u.s. economy. of course, we are going to get growth by lowering business rate. individual consumers are going to have more money, individuals are going to be able to renovate kitchen, buy the new car, take a trip, do what they need to do with their money. individuals are going to be able to decide how to spend their money. the government is not going to spend them for them. stuart: you mentioned rate of 15%, are you firm on 15% number because we've heard 20%, maybe 25%, are you firm on 15? >> stuart, we are committed to get as low rate as possible. we have agreed that rate is the
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number one factor that matters most in tax reform. we are going to do everything we can to get the rate on the businesses and this is all business, not just corporate, business down as low as we can. >> i have to ask you about the timing, if you are going for comprehensive tax reform, you say that's what you're going for, it's not just a slimdown tax cut, if you are going to do that, you've only got 12 days when the house and senate are in session together between now and the debt ceiling time frame and you have to do a budget in the debt keeling in those 12 days. that -- that's going to be a crowded schedule, isn't it, if you then want to move to comprehensive tax reform? >> i think we are all aware of what the legislative calendar looks like. we know how important debt ceiling is. secretary mnuchin has been working tirelessly on making sure the debt ceiling gets through and gets through appropriately. we are all working on taxes. we understand the budget and the budget process and how that's
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going to play in. we feel confident that we can get it done this year. stuart: republicans in the senate will they agree to tax cuts for wealthy people and wealthy corporations because there are some waiverrers in the republican party in the senate who don't seem to like that? >> what republicans in the senate agree is that tax cut are stimulant, when you take the business rate down we are going to stimulate the economy, when you take personal income rate down we will stimulate the economy. republicans union conversationally agree upon that. stuart: okay, can i ask you about apple 261 billion-dollar mountain of cash. i'm sure you're familiar with it. you want to bring it back to america, you think lowering the corporate tax rate will do it? >> of course we want to bring overseas cash to america. we want companies to invest in america, we want companies to create jobs in america. we need to incentivize companies to bring money back to america. our tax plan has incentives for companies to bring cash back to america and invest it in the
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united states and invest it in the u.s. economy and create high-paying jobs here at home. stuart: how are you going to stop the leaks because it looks like sabotage from within at the moment? >> look, i come to work every day to do my job, i know that my team is doing a great job and i will let somebody else worry about those problems. stuart: you really learned a great deal about diplomacy. you really have. we love the way you answer questions directly. i said, you're not going to pay for themselves these tax cuts, you said, no, they are going to pay for themselves, we really like that, sir. >> well, i enjoy talking to you as well. [laughter] stuart: okay, let's do it more often. gary cohn, thank you, sir. we appreciate it. >> thank you. stuart: back to our panel. you heard what the good man had to say, your reaction? >> i think it's great, it's refreshing, a guy not an economist and he's coming out there, he understands the real world, he's coming out there and he's saying things we need to hear but i think it was great
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that you put him on the spot and said 15% corporate tax rate. if that 15% corporate tax rate comes through, you will see immense growth above and beyond what anyone expects and he seems committed to it so let's -- ashley: it's great. everything he says we all agree it's going to be terrific. just go ahead and do it. stuart: right. dr. >> so clean, his discussion, now we will see how good he and the group of six are when they have to get in the mud and rangel this out. i'm with jeff, the lower that rate is, if they can hit 15, hallelujah, if we can get 20 it would be awesome. liz: here is what top strategists say, if they hit a road block with those tax cuts,a could threaten, the president could threaten a government shutdown over the debt ceiling or budget if he doesn't get its way and he's worried about flight to safety. david. stuart: tough guy. forthright, tough guy. got it. thank you very much for appearing on the show.
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got it. check the big board, still 50-point gain just the way we were before mr. cohn appeared on the program. financials up after job's report. would you look at that? that's why maybe the banks and the financials are up this morning. that's the truth. that group is up. i've got to say, i think will i say jeff and dr, no, no, they stay. they must have done good. >> must have. stuart: we want your comment on this, if you're in loaned en, you go to a pub, grab a pint, you better mind your p's and q's, some british pubs are cutting down on cursing, they want a family friendly. what kind of a pub is family friendly. well, they want to be, we will be back in a moment. [laughter] ♪
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stuart: green arrows, pay particular attention to am, bottom of the screen there. up over 1%. 157.24. very close to all-time high. secret footage of airport
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workers lobbying passenger suitcases into a baggage, yes, they were fired. liz: orlando airport, and footage shot by teenagerrer, he- teenager, i could not believe what i was saying, it was ridiculous, lifting luggage over their heads and winging it at convero belts because people's belongs were getting crushed and hurt. stuart: thank you, liz, happy ending right there. now the story about british pubbing banning swearing. i turn to fellow british guy. ashley: zero tolerance policy against swearing in pub, 250
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pubs across the country. people actually running the pubs, you never gave us a list of what words are okay and what aren't but they have been told to refuse to provide drinks or any, you know, product to anyone who is swearing. stuart: they don't define what is -- [laughter] ashley: you heard where you have a pint in every pub in the street, now they are going to every pub and trying to get cautioned for swearing. stuart: swear up a storm. ashley: go to the next pub. stuart: all right, i will move on. [laughter] >> i'm being mistaken for american. stuart: america's dogs an cats causing global warming. lizzie. >> this comes out of ucla. carbon fingerprint, paw print.
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64 million tons of co2, not good to own pets because of carbon dioxides. stuart: i'm prepare today say -- prepared to say -- you're a dog owner? >> yes. stuart: he's got to go. >> absolutely, ten-pound, eight-pounds of fur and two-pounds of dog. he's the opposite of a yapper. stuart: my favorite dog. do you have a dog? >> two cocker spaniels. stuart: you can tell it's friday.
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[laughter] stuart: this is about this program on a friday. it's well rated too. all right, everybody, thank you very much for joining us. we appreciate it. the stock market is up 4,000 points since the election. new records hit just about on a daily basis. we will hit another one today and the economy, yes, it is growing and there's this. 209,000 jobs created last month and clear signs of economic optimism. you wouldn't know it if you watched the mainstream media. my take on that is next rethink what's possible. rethink your allergy pills. flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one.
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.. hello, this is adt, is everything ok? i could hear crackling in the walls, and my mind went totally blank. all i remember saying was, "my boyfriend's beating me"
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and she took it from there. when a fire is going on, you're running around, you're not thinking clearly, so they called the fire department for us. and all of this occurred in four minutes or less. within five minutes. i am absolutely grateful we all made it out safely. it's kind of one of those things you can't even... you cant even thank somebody. people you don't know actually care about you. to protect what you love, call 1-800-adt-cares stuart: this morning president trump tweeted this: consumer confidence is at a 16-year high
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and for good reason. much more regulation busting to come. working hard for tax consistents and reform. he's preaching the message of economic optimism. he has to because the media will not. across the financial world, the evidence is clear, things are looking up. the media ignores it. umpteen stock market records, and the dow is up, what, 4,000 points since the election? and that has added over $4 trillion to the nation's wealth. have you seen that widely reported? no, you have not. economic growth, it's really picking up. a 2.6% annual rate between april and june, nearly double the rate from january to march. let's not forget foxconn's $10 billion investment in wisconsin, 13,000 jobs. amazon hires 20,000 workers in a day. there's a line around the block to sign up. today to it ca announces -- toyota announces a $1.6 billion
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car plant to be built in america, and that jobs report? 209,000 new jobs last month. that is, by any measure, a solid performance. america becomes the dominant energy power in the world. that's a plus. you don't hear about it. that is astonishing. most people don't know this. they have not been told. the media is obsessing over things that have little to do with their everyday lives. in fact, the establishment media has become the resistance party. they are the not-so-loyal opposition. can you believe "the washington post" publishes the president's phone calls with foreign leaders? on this program we concentrate on what matters to you, not the disgraceful antics of a hateful media which still hasn't recovered from hillary's loss. so let's say it again. our politics have been corrupted by hate, and the hate is coming from the left. but our money's doing well, and things are looking up because we are finally breaking out of the all government, all the time stalemate of the last eight
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years. the second hour of varney and company be's about to begin. ♪ ♪ stuart: we were up 50, now we're up 23 points, but we'll take it. 22,048, is where we are. the big tech stocks are almost all on the upside save for amazon which is down $1.58 at the moment. microsoft is up and apple's very close to an all-time high. how about the share price of yelp? strong numbers raised its outlook. look at that, a 26 gain in one day. callaway golf, that stock touching a near nine-year high after reporting better profits, and it raised its guidance for the future. 7 up on callaway golf -- 7. the jobs report suggests to some that the federal reserve will raise interest rates, and that would be good for the banks, and
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they're up. viacom's stock down, the company forecast lower sales to u.s. pay tv companies and streaming video services. remember, viacom owns mtv, comedy central amongst others, and it's down, whoa, 11%. big stock, 11% on viacom. how about that? all right. distractions, here they come from the swamp. special counsel robert mueller calls a grand jury on the russia probe. joining us now, fox news contributor tammy bruce. tammy is this the swamp really distracting -- i think it is -- is it distracting from the president's accomplishments on the economy? >> they mean to. they mean to, certainly, in the media because they want headlines other than the success we've seen economically that the president has already accomplished. they want headlines than are different about the great rally in west virginia, the west virginia governor becoming a republican. in a lot of ways, this is food for the media.
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it doesn't have to be a distraction for the president though, of course, and this is hope any where the new chief of staff can come in, keeping him focused. he's got so many people around him. he can get his job done while also having very good people to deal with what is, ultimately, still looks like a fishing expedition by the special counsel. stuart: but this special counsel, this impaneled grand jury -- >> right, right. stuart: -- you know, it's quite possible there's nothing there. >> federal grand juries, certainly they can indict, but they also serve as an investigatory kind of element for a prosecutor or a counsel. it can get subpoenas done, they can collect documents. so just because there's a grand jury doesn't mean that there's an inclination to some indictments or that anybody would be. and yet, of course, you've got three individuals -- carter page, mike flynn, paul manafort. but then there's maybe, like, another leak that is maybe even right from the doj about subpoenas that have gone out about donald trump jr.'s meeting with that supposed russian
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lawyer and all of that. if that's the case, that also indicates more of a fishing expedition. but if they're serious, maybe they'll look seriously at the democrat party's involvement with gps fusion, the woman that was in that meeting and if, in fact, that was a democrat set-up of mr. trump jr. tart stuart it really seems to me there is a cabal within the administration, within the federal bureaucracy which is quite deliberately leaking, knowingly, damaging information about the president and about his -- >> well, and this is today with jeff sessions saying he's going to take a much harder view of the leaks, but he's got to look at it. look, if this is accurate, we don't know about a subpoena regarding donald trump jr., then it means there's someone within the mueller camp, but would that be surprising with a bunch of hillary sycophants, and also perhaps a crime. we've had discussions, of course, about the nature of the transcripts that have been leaked. these are crimes that are meant the harm the ability of the government to function, the president to be able to speak
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with foreign leaders freely, but even still, stuart, the ability of foreign leaders to feel they can speak freely with the president as well. stuart i don't see how you can conduct foreign policy if your conversations are out there exposed for the world. >> correct. this must be arrests, there must be, certainly, a sign that we see this as very dramatically as an effort to impact the ability of our government to function. stuart: dead right, tammy bruce. thank you very much, indeed. now, the president's big rally last night, it was raucous, indeed. and look at this, west virginia's democrat governor, jim justice, announced that he's switching parties. he's no longer a democrat, he's switched to the republicans. roll tape. >> today i will tell you with lots of prayers and lots of thinking, today i will tell you as west virginians i can't help you any more being a democrat governor.
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is tomorrow i will be -- so tomorrow i will be changing my registration to republican. stuart: he's done it. joining us now, dan patrick, lieutenant governor of the great state of texas. sir, i'm sure you've done the count. i have. there are only 15 democrat governors left in the 50 united states. what do you make of that? >> good morning, stuart. great to be with you. well, what i make of it is our policies on a state-by-state basis where republicans have solid control are proving to be winners with the public. the democrats have lost on the national scene, and they're losing dramatically on the local level. during obama's reign almost a thousand democrats were defeated running for the local state houses and state senates and governors and lieutenant governors. out of the 45 lieutenant governors, 32 are republican. we control the attorney general positions, we now are in control of 33 legislatures in terms of running both the senate and the house in these states.
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and one other state will flip in a few years, that her will be louisiana. -- that will be louisiana. we own the turf state by state, and texas leads the way. we set the conservative example that other states follow. stuart: okay. talk to me about next year's congressional elections, the elections of 2018. the word is that the democrats will make some encroachment on what is now republican turf, but how about at the governorship level? you think they'll make some gains 2018 among governors? >> i do not because i think the people are happy with their governments at their state level. they're not with the city. by the way, there's something going on, stuart, that you really need to focus on, and that is that our cities are still controlled by democrats. and where do we have our problems in america? not at the state level run by republicans, but in our cities mostly controlled by democrat mayors and city councilmen and women.
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that's where you see high taxes, street crime, look at new york, chicago, seattle, go around the country. the democrats are doing a terrible job, and that's why we're doing well at the state level in texas, because we don't have an income tax. we have light regulation. we have the best and strongest tort reform in america, so ridiculous lawsuits are no longer filed against businesses or doctors. we see businesses and doctors pouring into our state. because of our low electric cost, we're becoming a data center, stuart, for america. they're moving from california where they can pay up to three, four, five, six times the rate per kilowatt hour compared to texas. they're coming here because we are pro-business. texas is the place to be. stuart: you're the lieutenant governor of a major border state, the great state of texas. how do you feel about president trump's new legal immigration plan? a merit-based plan. you're on the border, how do you feel about this? >> yes. what's not to like? first of all, come to america,
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you have to speak english. you can't come here and displace an american worker. you can't come here and get welfare benefits. look, we need to control our borders, and right now even without the wall being complete, just beginning its early stages, our crossings, stuart, are down in any given week 60-70%. the red carpet that obama rolled out has been rolled back. and the word is out. if you come to america, i.c.e -- which is expanding, and under john cornyn's plan, expanding even more, more border agents, more in-country apprehension of people coming here, more deportations -- it's working. and so we need to decide not the drug cartel, stuart, who comes to america. we need to bring in people to take the jobs that are needed. we need to end this system where none can come in you're in any degree connected to a family and make it based on merit. that's what donald trump understands. and let me give you this, this factoid.
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stuart, i think i've shared it with you before, why we passed ap end to sanctuary cities in texas. and, again, we're being sued by democrat mayors in texas. despite the fact that most people come to america looking for a job, a large number of criminals pour across our borders. we've charged criminal aliens with over 600,000 crimes including 90,000 other crimes, hundreds of kidnappings. we have to secure the border and make america great again by having people come to america who want to be part of us. stuart this is why we just love to get outside the beltway and find out what's going on in the great statements around our great -- states around our great country. governor dan patrick, lieutenant governor of texas, thanks for joining us, sir, we appreciate it. >> thank you, stuart, as always. stuart: yes, sir. those statistics at the end were staggering. >> is that just texas are
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nationally? those numbers are huge. stuart: just texas. >> he said -- stuart: i believe they're just texas. >> my goodness, if that does not put a big light on the nature of what's occurring in this country, i don't know what would. stuart: earn one 50, now we're up 17. attorney general sessions is expected to make a big announcement on the white house leakings. we will take you there when it happens. and how about this? we've been told that gun sales are slowing because of the election of president trump. a pro-gun administration. but for one gun shop this florida, that is not the case. find out how many guns he's selling and to whom later in the show. here he comes. ♪
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stuart: we're up this friday morning but only just, 11 points higher, 22,037. weight watchers, oh, yeah, plenty of green, plenty of red. [laughter] kind of an even split there. >> evenly weighted. stuart: big gain, 27% up. better profits, better sales, better outlook for the future. that is a three-and-a-half year high. don't you wish you'd bought that yesterday? [laughter] i got the joke. >> i'm just being funny. stuart: seriously now, we could see a showdown in venezuelaed today. president maduro promises to seat that new assembly which will rewrite the country's constitution. >> we've got the vatican saying stop this constituent assembly, stop the conflict, stop the use of excessive force, socialist president nicolas maduro.
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he's saying, essentially, this is accelerating, basically, the conflict in venezuela. already more than 120 people dead. happening today, maduro will seat 545 new officials to rewrite the constitution in a building just yards away from the national assembly. those guys there -- the first vice president of venezuela saying the only way maduro will get us out of here is by killing us. so this is escalating today, and it comes as a u.k. company have certified and audited venezuela's vote since 2004, they will not stand by the vote. they're saying it's off by one million. so, you know, this is, this is a showdown today happening right now. stuart: got it. liz say, thanks very much, indeed. >> sure. stuart: next hour, attorney general sessions announces the crackdown on leaks from the white house. joining us now, former
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ambassador to the united nations, john bolton. i don't see how you can conduct foreign policy if conversations are splashed across the front of "the new york post." that's outrageous and wrong. >> absolutely. and it is a breach of national security. these transcripts were classified, and properly so. one of the reasons you give information a classification is the threat to american national security if it becomes public. and if foreign leaders don't think that they can have a conversation with the president in confidence, we are very badly damaged. i think this goes back to bradley manning leaking tens of thousands of state department cables. we've seen other examples through wikileaks as well. finish this is not just transparency and opening the government up for public scrutiny, it is a real damage to our ability to conduct american foreign and national security policy. stuart: what do you do? it seems like there is a cabal within the federal bureaucracy whether it's the justice department or the state
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department or wheresoever, wills a cabal which really wants to stop and resist anything from president trump. this used to be large numbers of these poem doing this -- people doing this. i don't see what you can do about it, frankly. >> well, over the years there have been a lot of efforts to find the sources of leaks to curtail them and what not. i think some things that could be considered going forward anyway would include polygraphing state department and white house personnel. this is standard practice in the intelligence community. it may sound offensive, but these people have extremely important jobs, and i think polygraphing them may be one prophylactic measure you can take. in terms of the leaks that have already occurred, i think these there transcripts of the conversations the president had with other foreign leaders may be something worth focusing on for this reason: it is possible that "the washington post" had these transcripts back from the time roughly when the conversations occurred.
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but i don't think so because i think the pressure to publish something like this before somebody else publishes it would induce a media outlet to put it in as soon as they get it. so i think that means the odds favor the argument -- although it's not certain -- that the leaks of these transcripts were relatively recent. so i'd go in with a full-scale investigation. i wouldn't worry about the thousands of other leaks for the moment. i'd focus on these and see if we could find some possibility of getting to the people who actually leaked it. stuart: okay. >> and i think that alone, that focus could create some discipline for others as well. stuart: 20 seconds. i think "the washington post" is a disgrace for putting this in their newspaper, and you say? >> well, i think that's typical of the mainstream media. look, there was a time if you go back to world war ii the media actually supported america winning the war. they're neutral now on things like this. i think that's a mistake. stuart: a mistake?
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i think it's a disgrace. ambassador bolton, thanks for joining us, sir, we appreciate it. >> thank you, stuart. stuart: how about this, amazon's alexa? turns out if hackers get their hands on an alexa, they can listen to your private conversations, even take control of the smart speaker. we're going to tell you how they do that. and congresswoman debbie wasserman schultz says she doesn't regret standing by her arrested tech staffer, you know, the staffer who was found with smashed computer parts, arrested at the airport trying to leave the country? she doesn't regret hiring him. back in a moment. stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders
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goes up 16%. that's what you have to say, got it? amazon's echo could allow hackers the chance to spy on your private conversations. how would they do that? >> well, there's a caveat to this, because you have to physically access -- it's not like you can go to through your computer and get into someone's alexa, you have to physically have it, and they can peel off the bottom and insert malware that allows it to turn into a covert microphone. apparently, that's pretty simple to do, and the 2015 and 2016 versions of alexa are vulnerable. however, the 2017? can't do it. stuart: now, if i have one of these things in my own home, i can pretty much keep people out of the thing, but if i'm in a hotel -- >> right. a lot of hands could get their hands on it. -- 2017 and on are
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not -- >> best western hotel is contesting those devices. stuart: well, the bottom line is delay your purchase. and don't stay in a hotel room unless you've got a 2018 alexa. [laughter] >> right. stuart: attorney general jeff sessions going to make a major announcement on white house leaks, and we'll take you there, of course. the dow is up, actually, it's regaining a little strength now. we're up 28 points, 22,054. back in a moment. ♪ ♪
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♪ ♪ can't buy me love -- stuart: that's why money can't buy you happiness. frankly, i'm determined to give it a shot. [laughter] check that big board, up 36 points, elizabeth -- [laughter] we're up 36 points, 22,063. big name techs, now they're all green arrows, look at apple, 157, microsoft, 72.61. amazon just ticked a bit lower, but bottom line, big name techs up. the july jobs report, 209,000 new jobs, and the labor force participation rate ticked up 62.9%. john lonski's here, managing director at moody's. i was a little disappointed. i thought we'd do better than 209,000 -- >> i think it's a very solid number. let's not forget, you know, prior to the election when everybody thought that hillary clinton was going to be the next
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president, the consensus thought that at this time we would be creating jobs at a rate of about 150,000 jobs per month. instead, we have 209,000 here in july, and we've been averaging 181,000. stuart: one more number for you, 349,000 people moved back into the labor force. >> that's so good. that shows they're becoming confident that there are attractive job opportunities out there. and that's also telling me let's not get carried away about inflation fears because the unemployment rate went down to 4.3%. my goodness, the average hourly wage is up by only, what is it, 2.5% yearly. in the past when we had unemployment rates that low, we would be looking at wage growth of nearly 4%. stuart: okay. so this is a good report, solid, positive -- >> without any question. longer workweek, we have more hours overall, and that's telling me personal income may have grown by more than half a percent for the month of july.
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annualized, that's a very attractive rate. stuart: suppose that president trump laid off the twitter and stopped with some of these more distracting comments and concentrated instead on this good news on the economy. you think that the market would go a bit higher? >> definitely. he's -- we would have more jobs creation. he has to realize this is his wheelhouse, this is his strength. better than expected jobs growth, a lower than expected unemployment rate. keep emphasizing that and do whatever you can to have this trend continue, if not improve. stuart: so he should get out there and push the good economic news at every conceivable opportunity. do you really think that would create more jobs, if he just said that and stuck with optimism? >> well, you know, some businesses might be more incline ared to hire, some people might spend a little bit more money. that would help the economy. i think optimism doesn't hurt. as i said, we're not at that point where, my goodness, inflation's going to take off, and the fed's going to have to hike interest rates through the
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roof. that's not going to happen anytime soon. fed funds futures assigns only about a 50% probability to a higher federal funds rate by the end of this year. stuart hold on, that's technical stuff. i want to repeat it. there are indicators which suggest despite this good jobs report, we will not get a federal reserve rate hike -- >> for the rest of the year, until 2018, right. stuart: that's why the financial stocks are up. >> that's why they're up sharply too. and i would, too, the ten-year treasury yield is still under 2.3% today despite this good economic news. the consensus was looking for a 2.5% on average for the third quarter. ain't happening. stuart: so you've made the case that we are steadily improving, economic optimism, the economy is growing, the jobs report is pretty good. steady as she dose, no inflation, no serious problem on the horizon -- >> that's exactly what i see for the time being.
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profits are growing, companies have every reason to hold on to staff if not administer workers. stuart: any reason why the dow -- >> i think the equity market is afraid of significantly high her interest rates, and if that's their fear, the equity market has it wrong. stuart: delivering a friday morning blast of good news there. any negatives up your sleeve? >> well, one negative might be 63% of the new hi-created jobs were in lower paying occupations, lower paying industries. but they're jobs, they're a start. and if these people work hard, they could earn a lot more money over time. stuart: okay. we'll go with that one. john, thank you, sir. >> my pleasure. stuart: all right are. president trump has called, as you know, for a merit-based legal immigration system. that's created a little hysteria on the left, of course. but that is the kind of immigration system that they have in many countries including australia. nick adams is with us, he's the author of the book "green card warrior." he is from, originally, australia.
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trying to become an american. nick, welcome to the show. >> good day, stuart varney, always a pleasure. [laughter] stuart: let me think about this because i know australia has a merit-based immigration system, and i know that we want to move towards that. describe, if you will, what is this merit-based system that you had in australia. >> well, a merit-based immigration system, stuart, simply el violates certain -- elevates certain skills and abilities to a different level. so we start looking at how well does a person speak english, how likely are they to assimilate, are they coming to make or take? are they coming to give or receive? are they coming to join the place or change it? so essentially, merit-based immigration system is moving away from this automatic family connection to seeking to bring the best and the brightest to the shores of the united states. stuart: how do you feel about that? because you got in -- i don't
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know what skill you brought with you other than you know how to write well, you're a great performer on tv -- [laughter] i know all of that, but would you have gotten in, would you get in if the new merit-based system was in place? >> well, it's interesting that you raise that, stuart because, actually, there is only one component of the current system that is merit-based, and that's the extraordinary ability green card of which i am proud to say i am a holder. stuart: wait a minute. what is your extraordinary ability that brought you here? what is it? [laughter] >> listen, i am good looking -- [laughter] i am charismatic, and i get to talk to you. stuart: well, what is it? come on, what is this extraordinary ability? >> i have an extraordinary ability as a conservative commentator, as an author. i was the youngest elected deputy mayor in australian history in sydney at 21. i was the a best selling author before i turned the age of 30. i appear regularly on "varney & company" --
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stuart: there you go. [laughter] that got you in in the obama years, i'm really shocked. [laughter] >> miracles happen. stuart: okay. let's get serious for a second. as you've seen, the transcript of the conversation between president trump and australia's prime minister was smashed all over the front of "the washington post." i want to know how australia feels about this. there's outrage in america. what about australia? >> well, stuart, obviously, i'm not there, but i'm pretty sure from everything that i've heard and that i've realize, people are mortified. this has implications and consequences not just for the united states' president, but for world leaders everywhere. you never know if you're being recorded, you never know whether to hold things back or whether to speak your mind. i think it's disgraceful; i think it's awful, i think it's disgusting. i hope that the president finds this person. all the leaks achieved was to prove once more for the billionth time that donald trump is donald trump, and you either like him or you don't. i happen to love him, and i hope
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he finds the person because, quite frankly, they should be castrated. stuart: i heard that. [laughter] okay. i want to go back to the australian system for a second. i am familiar with it. as i remember, the australian immigration authorities can push you as an immigrant to certain parts of australia. they push you away from sydney and melbourne, big cities with lots of people, they push you towards perth, western australia, maybe darwin up north, maybe even adelaide as well. but there's a guidance, isn't it? you get more points, i think, if you go to perth than if you go to sydney. >> that's exactly right, stuart. i think that all of that is a product of, obviously, australia is the second most urbanized country in the world, and there was a view to make sure that they didn't flood even more so those already very populated areas to, essentially, encourage people to go to country towns and places like that. so, yeah, that is something that
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is definitely in operation in australia. stuart: and i don't think it would ever be in operation in the united states. i don't think -- >> think not. stuart: always a pleasure, nick. come back soon. >> god bless you, stuart varney. stuart: yes, sir, thank you very much. now listen to this one, detroit is holding a mayoral primary election next week. half the candidates are convicted felons. what on earth? >> eight candidates, four out of the eight have criminal backgrounds, three have been charged with gun crimes. two have been convicted of assault with intent to commit murder. now, the two front-runners in the race do not have criminal records, and they are way out in front. but you know what? it's interesting, one of the cases, for instance, danetta simpson, had a 1996 felony conviction for assault with intent to murder. she's a cosmetologist, a salon owner. her prior interaction with the
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criminal justice system, she says -- which she is very familiar with -- fueled her desire to seek public office. there are those commentators who say this is not that unusual, and the people who have survived a terrible time in their life to come back and have a unique perspective on things. but it's not -- it doesn't sound good, does it? 50% of the candidates have felony convictions. stuart: i think some financial convictions would be better than justice department -- >> i would think so. stuart: that city's bankrupt. >> by the way, the election is next tuesday. stuart: next tuesday? >> yes. stuart: are you going? [laughter] >> no. stuart: well, we'll cover it. >> yes. stuart: the mainstream media does not want you focusing on optimism about the economy. but please remember, $4 trillion added to the nation's wealth since the election. they don't want you to know about that. no, they want to tell you about russia, russia, russia. bernie goldberg next on that. and congresswoman debbie
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wasserman schultz unapologetic after she stood by her tech worker who was found with those smashed computer parts and arrested at the airport trying to leave the country. she's calling it aunt-muslim bias -- anti-muslim bias. we'll be back. ♪ ♪ rethink what's possible. rethink your allergy pills. flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one. flonase sensimist. ♪
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♪ ♪ >> gary cohn, director of the national economic council, says tax cuts will not be slim down. take a listen. stuart: it looks like it's going to be a slimmed-down tax cut plan, slimmed down to just maybe tax cuts for individuals and tax cuts for corporations. and it's not going to be paid for. is that how it's shaping up? >> no, i don't agree with that whatsoever. the way we're going to do taxes and the way we have to do it is it's going to have to balance. we need to do permanent tax reform in the united states. the way you do permanent tax reform in the united states is you have it balance over ten years. we have committed, the group of six is committed to do permanent tax reform in the united states. ♪ ♪ but when family members forget,
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trust angie's list to help. [ barks ] visit today.
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stuart: all right, we're holding to a 30-point gain, 22,057. viacom, whoa, taking a really big hit, down 13%. a, it forecast lower sales to pay tv companies and, b, to streaming services as well in the quarter. they own mtv amongst other services, and it's down 13 percent. that is a whopping, great big decline.
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big company too. if you watch the mainstream media, it is all russia, russia, russia. can't get away from it. joining us now, fox news contributor bernie goldberg. welcome back, bernie. it's always great to see you. >> good to see you, stuart. stuart: i say journalists are no longer journalists, they're becoming pundits, editorialists, subjective, not objective, blur the lines between opinion and fact. what say you? >> well, unfortunately, unfortunately, i think you're right in too many cases. and i say "unfortunately" because it shouldn't happen that way. look, i've been doing this for a while now, as you know, and here's my number one rule of thumb. thurm one rule of -- number one rule of thumb. the reader of a newspaper or the viewer of a tv show should never know how a straight news reporter thinks or feels about a controversial subject. period. it's really that easy. they should never know how a
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straight news reporter thinks or feels about a subject. one easy current example. jim acosta, the white house correspondent at cnn. let's assume he's a good guy, he loves his mother, he gives money to charity. when he was at cbs news, people liked him, and he was a good reporter. let's assume all that. i've never had a conversation with him, but i i know how he feels about the president's immigration plan, and i know how he feels about the president. he doesn't like either, okay? i know that by what i see. now, he would say i'm only asking tough questions. that's fine. tough questions are fine. but he goes beyond tough questions, and we should never know how he or anybody else in straight news thinks or feels about subjects like that. stuart: bernie, we make no bones about it. this -- "varney & company" is an opinion show. i have an opinion on almost everything, and i express it, and everybody knows it's an opinion show. i'd feel better about the mainstream guys be they came
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right out with it and said, this is my opinion. i mean, i don't object to that. but don't fool people by making yourself out to be mainstream, down-the-line guy when you're not. >> it would be more honest, there's no question about that. but it would also be the destruction of straight news. because if -- you know, i did straight news for many, many years. if i'm a straight news reporter and i come on your show and i say, stuart, i know this is an opinion show, i know you have opinions, i agree with your opinions, i think this or i think that, then you can't trust me as a straight news reporter anymore. stuart: that is true. >> look, reporters, we follow the news, we read the news, we care about things. of course we have opinions. there's nothing wrong with that. what's wrong is when you let the audience know what those opinions are. you can't do it. stuart: it seems to me that the opinion expressed always in the
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mainstream media is having an impact on president trump's standing. i see the latest quinnipiac poll, he's only got a 33% approval rating. that's absolutely rock bottom. >> yeah. that's a good point. look, i think especially on cable news -- wondering what you think about this -- but especially on cable news you're either supposed to detest the mainstream media because of its biases or detest donald trump because of his shenanigans. i'm not a fan of either. i think there are way too many people in what we call mainstream media that are out to get this president, and they will not rest until they bring him down. and that is wrong as wrong can be. but on the other hand, i think this president does so many crazy things, says so many things that are demonstrably untrue that he is pretty much
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handing them the gun and the ammunition and saying, shot me. and -- shoot me. and if they're out to get you, don't give them the gun. [laughter] stuart: let me tell you where i'm coming from, me specifically. i support the president's growth plan. don't necessarily support president trump, the man or the republican party. i support the growth plan, because i think the most important thing for america is economic growth. >> right. stuart: that's where i'm coming from. last 30 seconds -- 20 seconds to you, bernie. >> as an opinion journalist, i totally agree with that. if i were on this program as a hard news journalist, i would say, well, there are those who think that's a good idea and others who think that we should spend more money for poor be people and a safety net and all that. i would feel uncomfortable being on an opinion show if i was expected to give my opinion. i'm not going to do that if i'm a hard news reporter. and too often it happens, and
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too often management of cable news operations and "the new york times" and "the washington post" let it happen. they should say hard, fast rule: straight news reporter, no opinion period. stuart: good. keep us all straight, bernie goldberg, please. [laugher] you've been doing it for many years. keep us straight. >> thank you. stuart: bernie goldberg, favorite guest on this program. we appreciate you being here. congresswoman debbie wasserman schultz defending her decision to stand by the tech worker who was caught frying to flee the country -- trying to flee the country. >> yeah, she kept him on the payroll citing concerns about racial and ethnic profile. he is muslim. he was trying to flee to pakistan. grave concerns his due process is being violated, she's saying she would do it again. congressional calls to have the justice department step in and investigate this affair. basically, he is accused of bank fraud, also potential national intelligence security issues because he and his team had
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access to house foreign affairs and intelligence. stuart: we hear you. thanks, liz. attorney general sessions about to deliver a progress report on exposing the white house leakers. my take about that, top of the hour. here he comes. we check our phones 85 times a day.
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>> in just a few minutes, attorney general jeff sessions will be speaking on white house leaks. adam shapiro in d.c. with the latest on this. adam? >> reporter: ashley, this is a briefing about not only leaks from the white house, but leaks that threaten national security. and the attorney general will be joined by director of national intelligence dan coats and deputy attorney general rod rosenstein. now, adviser to the president, kellyanne conway, was on fox this morning to explain why these leaks can be potentially damaging to the usa. so this press briefing will begin in roughly a few minutes at 11 a.m., and i believe we're going to be taking it live. back to you, ashley. ashley: adam shapiro, thank you very much. it'll be interesting to see what mr. sessions has to say about those leaks. of course, we've heard stuart all morning talk about his displeasure on what's going on and what it means to the country, so it'll be interesting to see what mr. sessions has to say about that coming up in just
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a few moments. stick around, hour three of "varney" up next. . . .
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stuart: moments from now attorney general jeff sessions takes to the podium to they endanger the country and ability to our elected president. the washington post has published transcripts of president trump's conversations with the leaders of méxico and australia. diplomacy and national security obvious attempt to embarrass our president. and the post did this because we have the right to know, nob -- nonsense. they just hate him and want to end presidency now.
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part of the problem is the federal government still has a large number of high-level staffers held over from the obama years. the democrats won't confirm replacements so the trump administration is stuck with some disloyal bureaucrats. when you see endless leaks all design today undermine trump's ability to govern, you have to think it's organized, it sure looks like an attempt to reverse last year's election. you'll hear from the attorney general right here moments from now. the third hour of varney & company is about to begin. ♪ ♪ ♪ stuart: a lot going on this hour. let's get right to the start of it with your money. plenty of red on the left-hand side of your screen but the dow industrials are up 17 points. that level, by the way, 22,042. moments from now attorney general sessions lays out plan
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to combat white house leaks, we are joined by white house anchor and former defense attorney greg jared. might he say, that person, that person, that department has been leaking and i will stop it? >> it leaks in advance. obviously they have been careful about this and may name names in a couple of cases but my guess is they're simply going to say here is what we suspect and intel that we are targeting, we are going get to the bottom of it and if appropriate we are going to put people behind bars upon conviction. stuart: do you think the same way as i do that is conversations with foreign leaders is an absolute outrage?
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>> it's classified information. stuart: what about the washington post? >> very interesting that you bring that up. publishing it and the recipient, but there's a broad first amendment. stuart: attorney general sessions adderring the -- addressing the podium. together we lead the national insider that was established in 2011. the task force has an important role to play and one we are taking seriously. progress has been made and we intend to reach new levels of effectiveness. first let me say that i strongly
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agree with the president and condemn in the strongest terms the staggering number of leaks undermining the ability of our government to protect this country. just yesterday we saw reports in the media about conversations the president had with foreign leaders, no one is entitled to fight to advance battles in the media by revealing sensitive government information. no government can be effective when its leaders cannot discuss sensitive matters in confidence or talk freely in confidence with foreign leaders. we are here today to talk about the dramatic growth and the number of unauthorized disclosure of classified national security information in the past several months. this includes leaks to both media and in some cases even unauthorized disclosures to
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foreign adversaries, referrals for investigations of classified leaks to the department of justice from our intelligence agencies have exploded. in the first six months of this administration, the department of justice has already received nearly as many as criminal referrals involving unauthorized disclosure of classified information as we received in the previous three years combined. classified information by definition is information that if disclosed would do harm to national security. as director coats will discuss, leaks are incredibly damaging to intelligence mission and capabilities. simply put these leaks hurt our country, all of us in government can do better. the first requirement is for discipline within all of our agencies of the government to prevent these leaks every agency
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and congress have to do better. we are taking a stand, this culture of leaking must stop. furthering this goal today we are here to announce some steps being taken and underway by insider threat task force to ensure the government's first priority to protect this country and her citizens is not undermined by the very people who have been entrusted to protect it. while the department of justice does not discuss ongoing investigations or confirm specific matters, it is important for the american people and those who might be thinking about leaking classified or sensitive information to know that criminals who illegally use access to our most sensitive information to endanger our national security are in fact, being investigated and will be prosecuted. since january, the department has more than tripled the number
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of active leak investigations compared to the number of pending at the end of the last administration. and we've already charged four people with unlawfully disclosing classified material or with concealing contacting with federal officers. soon after i arrived here in february, i initiated a review of our leak investigations and prosecutions. i reviewed how the cases were being referred and handled and was concerned with what i found. two few referrals, too few investigations with the sufficient resources dedicated to them. i concluded the unprecedented rise in leaks required an increase of additional support for more investigations and to speed up existing investigations. now, our system here relies on the intelligence community making a determination of whether classified material has been improperly handled or
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released and then sending referrals to us at the department of justice. this means it's in vital for the intelligence community to know that the department of justice is committed to investigating and prosecuting referrals and when few investigations take place, criminal leaks may occur more often and a culture of leaking can take hold. so today i have this message for our friends in the intelligence community, the department of justice is open for business and i have this warning for would-be leakers, don't do it. for the past several months we have already made changes and are seriously ramping up our efforts. first, i directed my fine deputy attorney general rod rosenstein whose district in maryland encompasses nsa headquarters and who has personally led investigations of this kind and
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the investigator fbi director christopher wray to oversee all classified leak investigations actively monitor the progress of each and every case. secondly, i directed national security division of the department of justice and our u.s. attorneys to prioritize cases involving unauthorized disclosure. the department will not hesitate to bring lawful and appropriate criminal charges against those who would abuse the public trust. third, as i have said, we tripled the number of active leak investigations. in response, the fbi has increased resources devote today leak cases and created a new counterintelligence unit to manage the cases. simultaneously this department is reviewing policies that impact leak investigations and i listened to our career investigators, fbi agents and others and our prosecutors about how to most successfully
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investigate and prosecute these matters. at their suggestion, one of the things we are doing is reviewing policies affecting media subpoenas. we respect the important role that the press plays and will give them respect but it is not unlimited, they cannot place lives at risk with impunity. we must balance the press' role with protecting our national security and the lives of those who receiver in the intelligence community, the armed forces and all law abiding americans. finally, here is what i want to tell every american today, this nation must end this culture of leaks. we will investigate and seek to bring criminals to justice. we would not allow rogue anonymous sources with security clearances to sell out our country. these cases to investigate and prosecute are never easy but cases will be made and leakers
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will be held accountable. all of us in government and in every agency in congress and congress must do better. the first requirement is personal discipline, education and repetition within our departments and agencies, will make a difference, prevention is what is required and investigation of a leak is too late, the damage is done. thank you all and i will recognize director of national intelligence dan coats. >> good morning, mr. attorney general, thank you very much for your leadership and inviting me to join you here today and working with you on the task force. you and i have received together in the united states senate, we serve together now in the trump administration and today we stand together to address an issue which both of us strongly believe needs to be addressed using the authorities of our respected agencies. for the past few months, i have had the privilege of working
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with the dedicated men and women of the intelligence community. i have seen firsthand the work that they do tirelessly and without fanfare to protect our country. i stand here today as their leader to express our grave concern that unauthorized disclosure of classified material and damaging our mission and jeopardizing the safety and security of the american public. in the last several years, the u.s. intelligence community has experienced some of the worst compromises of classified information in our nation's history. those disclosure have been disseminated to both the media and to our foreign adversaries. let me be absolutely clear this morning, these disclosure have resulted in a major threat to our national security. they endanger the men and women of the intelligence community, the armed services and those who serve overseas.
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they give adversaries knowledge of our activities, they impede our ability to share information with our allies, there's also a real cost in dollars to compensate for programs and most importantly as i have previously noted, these unauthorized disclosure endanger the safety and security of americans across the country. i would like to point out, however, that these national security breaches do not just originate in the intelligence community. they come from a wide-range of sources within the government including the executive branch and including the congress. now, if someone who has asked us to classify material has legitimate concerns, there are multiple ways for them to put forward a complaint. the ic offers avenues for whistle blowers and protection
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to report without fear including notifying the congressional intelligence committees or even their own congressional representative or senator in congress. having said this, it is important to stress that any disclosure of unauthorized channels, authorized, excuse me, any disclosure outside of authorized channels is a criminal offense and we will simply not tolerate it. the illegal release of classified information, the national counterintelligence and security center which is part of my office, currently carrying out a review of the policies that are in place guiding ic agencies processes for investigating and reporting cases of unauthorized disclosure. in addition, the ncsc is studying security clearance procedures to look for inconsistencies in the
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processes, we are issuing security clearances to all ic employees including government officials, contractors, et cetera, if inconsistencies are found, ncsc will make recommendations to strengthen security process and this can be discussed and will be discussed after we finish our remarks. we will also continue to ensure the federal workforce is clear of the importance of respecting classifications and aware of whistleblower options and we will work with counterparts in executive branch and congress to address this issue. let me conclude by saying that we are prepared to take all necessary steps to, one, identify individuals who illegally expose and discloses classified information. secondly, forward information
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about their deeds to the fbi or full investigation and we will work closely with the department of justice to support prosecution of any person who makes an unauthorized disclosure of authorized material. fourth and finally, as director of national intelligence, i'm also empowered to take administrative action within the ic to deal with individuals who break the law and let me be clear, i will not hesitate to exercise those authorities. anyone who engages in these criminal acts is betraying the intelligence community and the american people. we feel the pain of those betrayals intensely and i can assure you that i will do everything in my power as the director of national intelligence to hold these individuals accountable. for those out there who maybe listening or watching these announcements or who will later
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learn about what has been said here this morning, understand this, if you improperly discloses classified information, we will find you. we will investigate you, we will prosecute you to the fullest extent of the law and you will not be happy with the result. stuart: okay, you heard it right there. this is important and powerful stuff from the attorney general of the united states and the director of national security. the main point that i'm just seeing here is that the attorney general says, leakers are, that's a present tense, active presence, leakers are being investigated, that's a signal to the leakers, you're being watched. four, have been charged. tripled the number of action
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into leaks, they are taking it very seriously. greg jared, lawyer by initial trade, now a tv guy. have i got this right, they are making a great deal importance out of this, they are investigating, they are telling leakers, you're on noticed, you're being watched? >> it's a top priority. they've already charged four. we knew of nsa contractor reality winner but others we haven't really learned the details about but they are going to be a whole lot of other ifs jeff sessions and dan coats follow through on vows here. he specifically said, anybody who leaks classified national security intelligence information we are coming after you. it's also a crime to leak any government information. converting government property to personal use and conveying it to somebody else. that is also a crime. it doesn't have to be just classified information.
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stuart: what did the attorney general also say about subpoenaing the press, specifically the washington post which put on its front page the story of the phone conversation between the president and leaders of méxico and australia? >> under the statute as i was saying, technically you could be prosecutor for publishing it, however, after the pentagon papers' case, the u.s. supreme court announced broad protection that covers journalists for publishing if it's in the national interest and that particular case was to expose lies about the vietnam war perpetrated by the government. stuart: is it in the national interest to put on the front page the conversation between the president of méxico and the united states? >> that's a subjective standard. stuart: sure is. >> also almost every state has reporter privilege as well. you have to deal with that.
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stuart: greg, hold on a second. i have not story that's breaking here which i think is just as important. it's coming from the american center for law and justice. now, under the freedom of information act, this group asked the fbi for any documents related to the clinton-loretta lynch tarmac meeting right before the election? at the time the fbi then under the direction of james comey said that they didn't have any documents, but documents received today include several emails between the fbi and the department of justice related to that tarmac meeting. have you gone through the story yet? >> i have. i'm not finished but it doesn't look good for james comey and the fbi. stuart: okay. what they are saying is that there is documentation about that meeting. comey said there was no documentation. >> it's about the fbi's response and talking points, the big
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bombshell in this is the washington post reporter saying, i am hoping to put -- i can put it to rest and new york times reporter apologyically said he was being pressed to cover story and abc producer rather story was breaking, doj press officials say i talked to abc producers they are not interesting to cover it even if fox goes with it. stuart: collusion between reporters specifically the washington post specifically the washington post and the department of justice. >> and other media. ashley: bury the story, push it away. >> collusion by itself is only a crime in antitrust, however, this is if true and proven blatant dishonesty on the part of the media. stuart: let's backtrack a second in the tarmac and i believe it was phoenix, arizona, loretta
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lynch at that time was on her private jet and along came bill clinton, the two had a meeting on the tarmac in loretta lynch's jet and they -- they said that it was a 40-minute meeting, they said they discussed grandchildren and golf as i recall and this was at the time when -- ashley: lynch's department was investigating hillary clinton. stuart: that's right. >> the house judiciary committee doesn't believe it which is why last week they sent a letter signed by 20 members on the judiciary committee demanding that a second special counsel be appointed to investigate lynch and comey and hillary clinton and all of it wrapped around this and many other contacts between the three. stuart: what i'm picking up here is the washington post, washington post who late yesterday put out the transcript of the phone conversations between our president and the leader of méxico and our president and the leader of australia. that's something that you really
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should not be doing in my personal opinion. you we've got an accusation of collusion between a washington post reporter and the department of justice over the meeting which they didn't want to have acknowledged between loretta lynch and bill clinton. >> here is the thing. the fbi and director james comey, we have records of our talking points or anything about how we are going to handle this talking about this meeting, there were records about it. i remember james comey said it was this very meeting which is why he held that very public press conference. it was the impetus making the press conference about what he was going to do with the hillary clinton probe. stuart: i believe that we have judge napolitano on the phone. judge, are you there? >> yes, i'm here, stuart. stuart: i want your comments on the loretta lynch-bill clinton meeting and the scandal emerging about collusion, washington post reporter and the doj. we have to say --
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[laughter] >> collusion is the important one not necessarily criminal, however, fbi fbi stating in response to a freedom of information act request that no such documents that you're looking for exist from which we now do exists, that's misconduct of the office on whoever stated that which is a felony, the picture is the meeting between bill clinton and loretta lynch was planned and plotted for a long time and they did their best to cover it up. it makes one wonder even more exactly did they talk about, why were they afraid to reveal the contents of it, what was the reason for which they said they only talked about the grandchildren. i'm going to give you a guess. my guess is bill clinton is if hillary clinton you will either stay as attorney general or you will go to the supreme court of
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the united states and the only way that can happen is if you don't indict her. that's just a guess, stuart, but the type of conversation that they could only have had in that environment with nobody listening or no one recording. stuart: it looks like there was collusion between the attorney general loretta lynch who ran the department of justice and the clinton campaign to dissemble the e-mail scandal. >> precisely. i don't know what the response will be to this. comey is both a hero and a goat. it's obviously somebody for the fbi was working for loretta lynch and not comey. stuart: you're not going read much about nit the washington post or "the new york times". i do believe i'm accurate. >> you got that one, stuart. stuart: i'm sorry, thanks for
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joining us on a very important moment. >> can i just mention a couple -- first of all, it is a crime to lie -- stuart: sorry, i have to go to break. hard break, we will cut you. we will be right back
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stuart: george michael, freedom. i know that song well. i love it. dow industrials up 18 points as we speak. 22,044. we opened higher two hours ago, we are still just a little bit higher. we had a couple of items of breaking news of great significance moments ago, i will ask greg to recap, main point? >> if you leak classified national security information or intelligence information, we are coming after you, stop it now or we are going -- we are coming after you. stuart: second story. meeting in the tarmac between attorney general b loretta lynch and bill clinton, now documentation, new suggestions go.
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>> yeah. >> we are learning when james comey said we don't have any paperwork or documentation about the clinton-lynch meeting, he may not have been telling the truth. it's a question mark, now there's evidence, documentary evidence that there may have been some related documents. liz: reaction to the meeting, nothing before the meeting, how they were going to handle the talking points of the meeting. stuart: if it was planned, what were they going to talk about grandchildren and golf, obviously not, they were going to talk about mrs. clinton, the e-mail scandal and what the attorney general was going to do about it. liz: new fbi document dump has nothing to do with the fbi talking about in advance of the meeting, nothing about that. it's about the talking points about how they are going to handle media questions about it. stuart: was there also some suggestion of collusion between washington post and department of justice? >> saying, you know, i'm hoping i can put this story to rest. >> that's the point.
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>> the reporter said that. >> the reporter in his own defense might say, well, that meant something completely different, put to go rest is fairly -- ashley: get to the truth. stuart: the left will cover up and suppress any story that's negative to the left. they will promote any story, any scandal that is negative for the president. that's where we are. thank you, greg, thank you, elizabeth. >> clarity. stuart: steamed up. check the market again. we do have a rally, another high for the dow. if it closes here that's another new high for the dow industrials. come on in, give us fresh of air. you are being negative on the tech stocks, you have, you
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constantly told us watch out, watch out, they are very highly priced. if i had taken your advice, i would have lost a lot of money. >> you would not have lost a lot of money, what i said is these things are getting really overheated. the fact if you look at the markets, we are hearing the dow making a new high, apple and boeing collectively are responsible for 70% of the dow's gains over the past six weeks. you look at s&p 500, those fang stocks only 11% of market cap but generated 26% of the market s&p's gains year to date. that's concentrated and it's in the big companies not the little guys, if you actually look at small caps like the russell 2000 it's gone below, 50-day moving average, never a good sign, what's concerning is the number of stocks that are not hitting their 52-week high, less than 5% of the russell 2000 are hitting
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new 52-week high. this only happened four times in history. you had major corrections and in 2015 you had 20% pullback in small cap. stuart: you're articulating your cautious case, again, i don't blame you. 22,000 on the dow industrials, would you like to tell us where you think the dow will go, not the tech stock specifically but the dow, where to from here? >> the dow what's driving it are a few ones. if you look at the top three stocks on the dow that generate money that are nationally, they are getting 50% year to date. stuart: my question was, we are 22,000 now -- i'm -- >> i'm getting there. i'm not a fortune teller but i will tell you what's generating it and what to look out for. stuart: wait a minute.
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you advise wealthy people where to put their money. would you advise a wealthy person right now to put money into an index the tracks the dow, would you? >> well, i'm explaining that what's been driving the dow is actually dollar weakness. that's the whole story here. vast majority of the dow's returns have been because the dollar has been falling and actually the dollar is down 7.5% according to wall street journal index year to date and it's on track for the weakest performance annually in 14 years. if we look at the s&p in terms of the euro instead of the dollar, it's actually down 2% and if we look at it in terms of the poll, something you follow, down 5%. stuart: i don't care. i want an answer to my question. where is it going? >> the dollar never closed more than 10% in dollar bold run,
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right now bouncing rite off of that. if i see the dollar bounce around and i want it to pop up above 93, if it does that we have another leg in the dollar rally. the dollar strengths, then that dow which has been primarily driven by companies who generate the revenue from overseas which need a weak dollar. the dollar strengths it's going to hurt the dow. stuart: 22,000 on the dow right now, up or down from here? >> depends on the dollar. stuart: okay. lenor, thank you very much. [laughter] >> have a great day. stuart: come and see us in new york next time. sit next to me. i want to question you heavily. president trump in coal country. our next guest, you know him, robert murray, murray energy ceo has got strong opinions about what to do next. you want to end the special tax credits for wind and solar companies as i recall, make your case, why?
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>> absolutely. we want to eliminate those tax credits for windmills and solar panels that are benefiting billionaires in the united states who are having them built in china. electricity from a windmill and solar panels cost 26 cents a kilowatt hour. electricity costs 4 cents with natural gas in between. we need a level playing field. we need to get the government, stuart, out of the energy business and the united states. we need to let the free markets decide how we will make our low cost electricity. it is a staple of life. it is needed for every manufacturer in the country and for every person on a fixed income. stuart: robert, are you talking to the president in this kind of thing, he was in coal country, west virginia, that's your turf. do you ever get to lobby the president and get rid of subsidies, do you think he will do that? >> yes, i think he will.
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and, yes, i have and i did last night. stuart: really? did you say -- say that again, you say you are talking to him tonight? >> last night in hundred -- huntington, west virginia. stuart: what did he say? >> he's interested in working people, he cares about the working people. to have manufacturing jobs in the united states we must have reliable low-cost of electricity. we don't have it. for the last eight years the obama administration, democrat supporters and bureaucrats have destroyed it and my concern is about the resiliency and reliability of the power electric grid. action must be taken to make sure that when we flip the light switch that electricity is there and that we are manufacturing our electricity at the lowest cost. that is what the president wants and that's the key to his
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creating jobs in america. stuart: yes, it is, low-cost electricity will bring manufacturing to america, that's a fact. robert, i'm sorry i am cutting short today, you see what we have gotten to deal w active news session, thanks for being with us, we appreciate it, sir. thank you. >> thank you, stuart. stuart: okay. check that big board. we don't stray far from the big board. up 23 points right now at 20,048. look at that. that is yelp. more money coming into that company. the stock goes up 27%. yelp. that's a huge gain. financials, they're up. apparently they like the financial companies like the job's report, show strength in the economy and maybe higher interest rates, that helps the financial stocks. gopro they said were going to lose less money. yeah, we will lose money but less money. the stock goes up 21%. [laughter]
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ashley: that good. stuart: up 5%. weight watchers, big winner, higher profits, better sales, raised the outlook. stock in 3 and a half year high. 25% up. one more hertz shares up after jpmorgan starts coverage of the stock with price target of 15. the stock is at 14.26. it's up nearly 10%. now this, we've been told that gun sales are slowing in america because of the election of president trump but for at least one gun shop owner in florida that's not the case. we are going to be joined shortly by the owner of that gun shop, he will tell us how many he's selling and to whom. six flags creating a wonder woman theme roller coaster, we will tell you where it will open and where. first, a rainbow appeared over
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the white house. there's a lot more varney to come
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nicole: nicole petallides with your fox business brief. take a look at gopro up about 20%. you can see video as well. fly to the sky and sur new hampshire the ocean or take your snow board right down the mountain n. the meantime they came out with quarterly earnings, second quarter results beat the street. they expect margins to continue to improve throughout 2017 also saying new product growth will help them toward their goal of double -- low double digit revenue growth and nongap profitability. plans to launch two more cameras later this year. the hero was the best selling digital camera in the u.s. according to the company as well. we will continue to watch gopro
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soar here to date. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)
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>> ho is this young woman? >> she's my -- >> diana, princess. >> diana prince. [laughter] stuart: got that? six flags going make history with the new wonder woman themed roller coaster, why, the world's first single rail roller
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coaster, why do we care? bumpy if tracks not perfectly aligned, single rail makes it faster, smoother and that ride opens at six flags san antonio next spring. count me out. ashley: yeah, me out. stuart: disney teaming up with star wars virtual reality experience, star wars secrets of the empire. no details except the promotional poster there. opens up in disneyland and disney world. how about this one? raising $30 million for a self-flying taxi service. the investment comes from car company, host aircraft, carry two people will help reinvent city transportation. plans on releasing the first models next year. count me in. check out this, mercedes self-driving car, the mercedes benz luxury in motion.
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just a concept. listen to some of the features. the steering wheel slides to create lounge space, seats turn to face each other. they have four tv screens on four doors plus the real wall, it's like a living room on wheels we are told. >> what about food? stuart: don't ask. chicago cubs dancing contest. you're watching part of it. the cubs pretended to fish, the diamondbacks seen at bowling alley. it's friday. we do that kind of stuff on a friday. ashley: i thought that was good. stuart: peter, economist,
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209,000 jobs created last month. i call that a pretty solid report, how about you, peter? >> great report. that's a year's worth for the obama people it seems. the stock market is up, wages were up. it doesn't get any better than that. it's a weekend in america. what a way to go home. stuart: one of the themes on the program yesterday and today, there's economic optimism out there, things are looking up. you do you agree with that? >> the profitability of american firms is very strong specially our technology leaders like apple and so forth and they are doing this by selling abroad. they are earning a lot of money abroad which means america is competitive if it has the right kind of government. the most significant thing about donald trump being president of the united states is the regulators now actually take lunch and weekends. they're not out there trying to pull on people's tails 24/7. we would like to do better than that and get a tax cut but even without a tax cut, this economy
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looks pretty stable. stuart: how do you feel about this new immigration proposal and that's what it is, proposal that gives priority to skilled workers, is there some concerns about economists that we are going to cut the flow of lowered-skill workers in the country and we need them. >> we need both kinds. i think there is some concern about that but right now we are pursuing a foolish immigration policy and i'm not talking illegal immigration, that's very small but rather more half of our immigrants are in some form of social existence. that makes no sense to me. that's not contributing to the economy at all. my feeling is that employment-based immigration will give us the kind of growth that we need in an economy with a declining birthrate and won't burden the taxpayer and won't put low-income people in the position of having to compete too much with immigrants. i like all those things. i think this issue has been demagogued to death in the press
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by them saying, well, the president wants to cut immigration in half and economists say it helps the economy, it doesn't help to import people that go and vote democrat. stuart: it does work if we pick and choose the people we want even though we cut in half the number of legal immigrants? >> absolutely. think about the new york liberals. what is dying and going to heaven? that's waking up in afterlife and it's canada. this is exactly what they do. we have handed chuck schumer something he can't oppose. you watch, he will, now, this has got bipartisan support. i've written two columns about the subject. stuart: good. >> i think it's a great proposal and we ought to run wit. stuart: peter, thank you very much, indeed.
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see you soon. >> take care. stuart: next joined by the gun owner -- i'm sorry, gun store owner, he said sales are booming. you know you get everything on varney & company. ashley: certainly do. stuart: stay right there is this a phone?
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stuart: gun maker generally are reporting slower, lower sales since president trump took office. after all this president doesn't want to take your guns away. our next guest is bucking that trend. joining us by phone alex, owner of guns and range training center in west palm beach, florida, sir, i understand that your sales are straight up this year; is that correct? >> yes, thanks for having me. stuart: they are up how much? >> probably 20% up from the projections we had due to election outcome. stuart: any reason why? >> in my mind i have two major reasons, one is the incentive from the manufacturing because everybody is overstocked and we get dealer incentives also, consumer rebates for the customers, so it's a good time,
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very affordable and the second -- stuart: hold on a second. ly get to the second one in a moment. what kind of discounts can you offer on guns because of what the manufacturers are offering? >> significant. we have been dropping prices because of the incentives, we get probably 10-15% and the consumer gets like 75-dollar rebates, for example, smith&weson has been aggressive, 75 rebates on most of handguns, now they offer big package, instead of money it's actually gear and ammo and stuff like that. very good incentives. stuart: i cut you off, i'm sorry about that. what's the second reason why your sales are up? >> that would be the feeling of that people have to take personal safety and personal protection into their own hands. that's probably a little bit of
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what we see in the news. we have the home grown terrorism, negative law enforcement coverage, we have law enforcement assassination, they look at that and say, okay, if that's so easy to kill law enforcement person, it's probably so easy to hurt me as well, so that creates a sense of urgency. stuart: thanks for joining us, you are bucking the trend. sales are down or flat most places but you are up there in west palm beach. thanks for joining us, we will see you soon. >> thank you, varney, take care. stuart: we will be back with more after this. rethink what's possible. rethink your allergy pills. flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one. flonase sensimist. ♪
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to break the news stories. hand over all documents
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pertaining to the tarmac. they signed under oath. now it turns out there are hundreds of pages. he said he's going after the leakers big-time. we have to pack it in. i'm sorry i took a couple seconds of your show right there. and just apologizing you took up an additional five seconds. it's always good hearing from you. i just want to tie something that boils me. at the latest cover of newsweek magazine. it is allegedly a newsmagazine and it calls the president la-z-boy. i have read the entire article. to tell you this is off the charts bizarre unfair to the president of the united


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