tv Varney Company FOX Business August 23, 2017 9:00am-12:00pm EDT
in this country. >> something i've been posting his love the person in front of you. so overwhelmed by the politics of nastiness. though the person in front of you. train dagen: call your mommy and daddy. don't tax them. stuart varney us right now. take it away. >> thank you very much indeed. the left tries to run him out of town but he is clearly not backing down on any issue. good morning, everyone cheered this is the last inactions. violent scenes outside as the president addresses 19,000 supporters inside. this is intimidation and is likely to follow the president wherever he goes. he spoke for well over an hour with a lot of time rallying against the media and defending comments about violence. he was on the attack. the crowd loved it. then he moved on to policy and he was just as combative. you would probably terminate
nafta commission on the government of the border wall is not funded and he was critical, very critical as senate republicans for not passing his agenda appeared on that issue, "the new york times" says the relationship between the president and republican leader mitch mcconnell has fallen apart. , but the president can salvage the presidency and august 9th became a profane shouting match. that split is not good for tax-cut legislation. and it's not a plus for the stock market. down in the opening bell today roughly 70 points. here is how things are shaping up wednesday morning. the baseless tribe you did not left hates him. the president republicans are miles apart and hostile to each other. "varney & company" is about to begin. ♪
>> we are giving you the biggest tax cut in the history of our country. believe me, we to close down the government. >> was sheriff joe convicted for doing his job? >> you should've put a jury, but you know what? i'll make a prediction. i think he's going to be just fine, okay? train to the left that good stuff come in the policy stuff almost to the end of the speech. lisp equipped the fiscal times is with us. would you make that judgment the president stepped on his own agenda? >> once again, yes he did. this was an opportunity to follow up on his incredibly good speech monday night in the country together, talking about a policy in afghanistan. what he should have done, he could've been used the base by talking about a border wall but he should have begun the pitch
because the white house has to be outselling. writing a program for middle-class americans. they can do that, they are committed to doing it. it's a missed opportunity and i was really disappointed. it went back and told a divisive commentary that after all got him in the to disintegrate but americans at this time the alien of. tree until i you nodding in agreement. liz: i agree with liz peek. they can't have a 400-dollar expense. look at the data from the irs. nine out of 10 businesses report income tax return. 60% is on the income tax return. that is jobs. when you raise taxes like democrats want to do come you crush middle class job growth. ashley: i support its growth agenda. i wish he would get on with it. i don't know why the big fighting with mitch mcconnell leaking this stuff again.
i don't find him and mcconnell screwed profanity if it gets things moving. does that help move his agenda forward? >> either way, we can count on democrats for not helping tax reform. the principles they've laid the principles this late outcome and no money to go to the top 1% as liz pointed out come the number of small businesses basically make that a nonstarter because it's small businesses above everybody else we want to give breaks to. stuart: we are giving it a thumbs down in terms of bonds building. okay. now look at the stock market in how it will open up this morning. various factors including last night speech down about 80 points for the dow industrials. similar losses for the s&p 500 and also the nasdaq. individual companies can do some profits and/or losses lows cut
its profit margin, forecast of its profit margin. but the company down 4%. similar story, lower profit at american eagle outfitters. however, they got a better sales feature they say up 11%. an interesting story about coals. it is converting floorspace to some of its stores into warehouse space. if the move to expand the online business. more room to store products that can be shipped to companies who order online. that's the whole story. wal-mart teaming up to google to take on amazon directly. you can order things from wal-mart by speaking into google's virtual assistants. wal-mart, google actually down this morning. a brief look at the money table this morning. back to politics. mcconnell and private doubts
if trump can save his presidency. barry o'connor, immediate contributor with us this morning. they are at odds. it is a toxic relationship no matter what the spokesman says today. we are making the judgment here that could get in the way of the president's agenda. >> it could. but here's the thing. we hired a business man to be president. the american people hired a businessman and you know people have to work with odious individuals now and then. it is their job to get things done. it's president trump's job to get the tax cut through and guess what, sometimes you have to work with people you don't get along with. i'm tired of the fighting. they need to get it done or they will both be fired. stuart: do you think the president has to concentrate on politics rather than his position not president and back when a business. you've got to play politics to some degree.
>> he does. as you mentioned, he's got this based on his side. we've seen in kentucky if trump ran against the mitch mcconnell, he would trounce according to the morning console pull where they do approval ratings that every individual senator, mitch mcconnell is the least popular senator in america and his home state. he's got politics on his site here. this can't continue to be the pacing contest if i'm allowed to say this where they can even talk to each other. it doesn't work in a boardroom and it doesn't work in this town. stuart: hold on, larry. i want to give back to the protest which turned violent last night. my bottom line is this. i think the violent protests from the left are an attempt to run the president out of town and i think they will be surfacing every time the president appears just about anywhere.
liz: there are some pro-trump rallies having an effect, no question. no matter what these teams look like. stuart: they are trying to run him out of town. liz: this is like a heckler's veto that judgment call atomic talks about. we do have free speech in this country and a right to protest. we don't have the right to destroy properties. stuart: no matter what the president says, demonstrators here on out will be out in force. i think they are designed to intimidate anybody who voices any supported the president. >> this is not about the president nearly as much as it is the people who elected the president appear the president. let's always remember whether it's people marching in the street by people and other cable news networks with time to question the president sanity. they're questioning the voter sanity.
picture is worth a thousand words in these pictures work in the president's favor. most americans don't i be on the side of a violent mob. this puts the president in a position of being a put upon victim which works in his favor. stuart: anything to add? ashley: on the voice of reason. i don't like the fact they are screaming profanity at each other, but there's so much frustration out there to get this thing moving, if it starts a shouting match, it doesn't appear to right now. whatever it takes to get the thing moving forward. mitch mcconnell has to step up to his position and wait. liz: it's really hard when he's insulting his republican quarterbacks. stuart: that is why this market this morning is going to open about 80 points. fallout from the president's dispute with mitch mcconnell. >> i almost did that yesterday's market was so sweet because of tax reform looking more positive
because trump did a great job monday night. in this morning that flaky we go again. it's almost like they today. stuart: opposed the market, down goes the market. i will call this perhaps my favorite story of the day. espn will not let asian american sportscaster called the university of virginia football game this weekend. why? that man's name is robert lee. the famous confederate civil war general robert e. lee. espn says they are worried about offending people. when we saw this story last night, we thought it was a joke. this might have you rethinking the trip to mexico. maybe. we'll tell you which tourist hot spots to avoid. the trump family criticize left and right. we can't remember seeing the
first family faced this kind of scrutiny. coming up, a member of the family. how did she feel about her family being a target of the media and the left? more aggression from north korea showing president trump standing this is disturbing stuff. we will show it to you, but after this. our bodies react by overproducing 6 key inflammatory substances that cause our symptoms. flonase helps block 6. most allergy pills only block one and 6 is greater than 1. with more complete relief you can enjoy every beautiful moment to the fullest. flonase. 6 is greater than 1 changes everything.
stuart: well, look at la-z-boy and for a tumble today. the kyocera. that narrows the profit margin on out will be down 18% for the opening bell and 15 minutes time. there is a pressure on self-described bernie sanders to stop a third party. can you say democrats like? ashley: progressives say we don't want part of this current democratic party because they are entrenched in corporate
money and the money of billionaires. let's not forget gene that will show he conspired to get bernie out of the way. there is a petition out there to put pressure on mr. sanders to be the new party and to attend a town hall in the near future to launch that new effort. we shall see. >> by the way, it's not like they're not taken over the democratic party. everyone in leadership positions. stuart: they don't need a new party. they've got the old line. liz: the branding is a better deal. stuart: moving on, the u.s. navy will relieve the man from duty after the second deadly mishap in less than three months involving the seven fleets. general thomas mcinerney, what does this say about the readiness, capability of the seventh fleet in the pacific?
>> well, it's not as good as it should be. i'm surprised it took this long. it's very unfortunate, sometimes you cannot not look as a commander. this was going to happen. this was his fourth incident since january. i'm surprised he lasted this long. stuart: is this the navy's way of pinning accountability of the admiral at the top? >> yesterday says it should be. the navy has the unique leadership role and the way they lead people is supreme, must be supreme and if you have some bad luck or you make mistakes, and this particular case under their former secretary of the navy, secretary mavis, they were so focused on different things that had nothing to do with readiness and combat fighting. we are now see the results. stuart: general, seriously. i've heard a lot about this that
for many years the navy has concentrated on equal opportunity involving more women in places of command. commanders say the right thing. do you really think that is attention from operational security? >> absolutely. no question about it. , social issues that they are trying mix into the military, which requires a different culture, a different discipline. and so, that is where they are attractive and will take time to get out of that. and now you see the results. i've never seen in the many years i've been involved, they've never had an accident rate of this magnitude. stuart: general, i want to show to our viewers some north korean propaganda video. the video shows president trump cluttered with crosses. we will not run the whole thing coming to show you that bit of
it. it's intensely provocative. what is your reaction? >> this is what we've got to expect out of them. i remember when khrushchev was banging his shoe on the podium many years in 1962 i believe it was. the fact is, it is the reason why we should not ever let north korea have nuclear icbms that can strike the united states. they are, as i've said before, they are a proxy china, and nuclear proxy. we cannot accept that and i still believe over the next six months to year, we have to come to a head on this because it's unacceptable for the united states to have a nuclear icbms north korea. stuart: general, are you talking about a preemptive attack? >> i am talking about all options on the table, stuart. that happens to be one of them.
stuart: u.s.a. and consistently, prepare for war six months to a year down the road. >> and sticking to that and only if you do strengthen strength is important in that region and told up for contingencies, then will your diplomacy work. stuart: that is in the background. we appreciate you being with us again. total change of subject. the powerball jackpot $700 million, second-highest in history. we've got a question for you and everybody around the table. today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart?
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money is universal. you can figure out how to spend it. stuart: thank you very much indeed. $440 million cash. what do you do? >> a creative foundation and try to figure out how to avoid the tax man going forward. >> that would be great. stuart: here is elizabeth. trade for half my nieces and nephews at their college tuition and foundations that site for free speech and stocky man. tranter not bad. i personally would just pile it up and enjoy the freedom. don't bury your talent. you go out and make more with what she's got. the owner of the vineyard give talents to three different people. they go away, when away, one come back and says that very day. that no good.
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stuart: now in ten secs time we're going to open this this market remember please up 196 on dow industrial yesterday and not going up in three seconds time we're going down to the tune of 7080 points here we go. we're already down 29 point right from the get-go 56, 64, we're heading south in the very, very early going. not dramatic at the moment but a significant after yesterday's upside move. dow is down about a third of one percent. how about the s&p 500? that's brought a base down .4% and nasdaq again we always tell you as for home of the technology industry, so to speak, dun a half petsage point all of them across the board on downside interesting report from kohl's. that converting floor space in some of their stores into warehouse space that try to expand their online business, more room to store product it is
that will be shipped very quickly to customers who order online that's kohl's this morning. wal-mart again this is my opinion emerging as principle opponent and competitor to amazon. teaming up with google today, you'll be able to order thing from wal-mart by speaking into or at that google virtual assistant. that's a direct play against a.m. l dison's alexa more on that in a moment. wednesday morning who's with us ashley -- put his head up real fast here. he's with us. get lottery number manies -- [laughter] liz is here and elizabeth peach is here and dr barton as well. wal-mart talk to us about them for a second they are principle competitor and component of amazon and you say what? >> i say you are spot on and they're teaming up with google is not as big a thing as i believe it is. because google express only gets about 4% of the overall just
grocery market let alone online -- online ordering market so i think that's where google will be able to help wal-mart make bigger inroads in the grocery side that's going to be a fast growing place and that's going to help this will tome compete with amazon fresh. >> if i was going to pick a retailer who would compete with amazon my pick would be warm mart i again say you're spot on i'm with wal-mart target a distant third. >> liz peek. >> i think that's absolutely right and google thing is all about ease of ordering. amazon arranged it to practically in your sleep say i want two more you know bag of groceries whatever now you can do that with google who could be a partner for wal-mart than google it is genius and work with out well. >> kohl's again get to that in a second get kohl's in because they seem to be doing something similar trying to compete with amazon to overis haul some of their stores. tell me --
>> basically cutting floor space in half in about half of their stores nationwide what do they do in well they're going to take products they have on gley put them in the become and store them in bulk so they could be shipped out there online. it's a lot cheaper than box and on gley they believe it is more efficient and like people to order online or ship to them directly. they hope to have in in police by the end of the year but not cutting jobs. but ease of ordering ease of delivering and immediate gratification. >> what's costco only 4% of its overall sells and costco has been very cautious here when it comes to the internet. >> okay. all right hold on a second i've got to get to this because i think it is a very important story is maybe accounting for some of the dow's lost some banks big banks support the banks flashing warning shalls multiple pretixes that a downturn is come for the stock market tell me her, liz. >> citi group morgan stanley
they say it is an aging bull it is gasping to finish line every corporate earning season now. they're say ising you could possibly see a downturn some of the analysts are saying you don't see that bump up after earnings profit beat wall street estimates some of the stocks are going down. bakely we haven't seen a downturn since brexit but there's been no significant downturn and they feel stocks are overvalued. >> i hears lots of different voices coming from lots of different directions saying this bull market is long in a tooth headed for a fall at some point. >> saying that for hongts. for months for years -- hearing this liz per years. >> continue to outpay some and by the way one of wall street top economists yesterday the out a note to clients saying we're getting to 3% and bullish on the economy, and you know what -- i mean as long as there's sort of a back --
tailwind of growth around world is picking up. but economists say yep growth is picking up here. profits are still very is strong, and increasing -- it >> that's right. go ahead, dear. >> this is a technical call for two of these three officials they're looking at charts. i understand what they're looking at, and my predictions stuart is we have a bigger expectation of a blowoff top first. then a fullback . liz: missing around the world that wall of lick witty and moving to downside of 82 points for the dow industrial keep that little thing on the bottom right hand corner of your screen and watch the dow down about 88. i'm switching to housing. well a light idea of putting some of their assets checking stocks into the housing markets. we've got weaker profits at lows. it's cut his profit margin fork and stock is down basically a housing stock is down 5%.
at 10:00 this morning we get figures on home sales in july top of the hour. existing home sales tomorrow, so liz, wrap it all up and tell me the state of the housing market. liz: housing price are at record high why? housing supply has been shrinking for 25 straight months. the baskly house prices are up every quarter for the last six year. median right now 255,000 for existing home so we're seeing this supply and demand story that's going on and you're seeing mortgage applications to your point ticking down last week. stuart: so i would make sense for those who want alternative investment to put money into the real estate market as opposed to the stock market or the bonged markets. >> yes. that's what some people are say home price is up 6.6 pbt in the second quarter of the year. price is up every quarter for six years. >> that's the residue from housing cycle right you have enormous boom with over paid bill that's right overbuilt for years, and then there was a
completefestation of building so now we're sort of in the upsweet from that but we'll begin to see new housing stocks created as a result of higher -- it is a very predictable market. >> that's housing market now look at the stock market full screen please we're down 82 points. that puts us at 21815 some companies report their profits after the belt today let's back up to them hewlett-packard after the bell, before the bell down 9 cents that's no movement. lower profit reported but better sales in the future for american eying the now there's a retailer doing well. lazy boy -- liz what did you ?ai profits? >> profits reclining that oh, so cute. [laughter] awe. well been hurt by higher cost which squeezing profit margin that thing is down 18%. interesting story -- samsung unveiling new galaxy note 8 today. is this a challenge to the new apple iphone that's come here?
>> absolutely a lot of new features features that puts pressure on rollout of the apple eight we don't know what it offers yet there's a lot of speculation about that but look this is a -- head-to-head competition that good news about sam sung phone i don't think it purse into flames that its biggest i'm just saying. >> technological superior product matter of choosing platform they lost a lot of android customers. this will bring a bunch back. >> they do. phone will be huge. not a phone it's not a tavern they're calling a phablet ph. but this is -- surely the story of a product line and note from samsung. which is comeback from a disaster of the catching fire. liz: let's face it they have been out in front in innovation and first to be underwater phone that you can drop in the swimming pool or something like that. this one interestingly has a stylist i think is interesting going kind of backwards to a technology that, you know, you
can write on it. >> big enough to do graphics on that. that's why it is look that. liz: i think it is quite interesting to see it come out. >> from a 6.5 deback l from last year i think it is a hit. stuart: let's see. by the way, more headaches for blue apron. it is lost its top human resources executive and hiring freeze a salary of employee and it has fired part of its recruit team. would you ever buy this company blue apron at what $5 a share is? >> i can't see buying maybe a value pack as it continues to go down. but you know, amazon's meal can the they bought whole foods they're going to have a whole other outlet of brick-and-mortar places from which to deliver meal kits across the country. >> blue apron is in trouble. >> a victim of amazon? >> i don't think it was ready for prime time it's having problems with its preparation of the meal kits themselves. it may not have been a ready for
prime time ip organization maybe it should have waited. seemings like a business by the way is why they did so early why they went public so early. that has pretty low barriers to entry. right, it was not -- particularly -- stuart: moving fast on this program. we have from blue apron to this. developer behind the actor pipeline has sued green piece, and other environmental groups so their role in delaying pipeline's construction. you used to cover oil and energy. your reaction to the lawsuit against the green is? >> you know, i haven't studied this topic i don't know the answer but look, this is sort of a topic that seems old to me. i mean this pipeline is gone and it has gone through, correct? so i don't really know what they're suing about. >> i think opens up. i think it is useful to have some accountable for those groups in the tactics that they use that did the company claiming that cost them over $100 million in delays so yes.
so that i think -- if this goes through, would be a good thing business qiez to get some accountability on both be sides of these battles are fought. >> some of the law firm has had connection to the trump administration. so the file. >> it may be a heads up that companies wouldn't take that. >> i have to say thank you very much indeed to you liz an to you dr great stuff this morning on a wednesday and we're now down 67, 68 points we've been down about 90. james clapper former director of national intelligence, calling for the impeachment of trump. clapper calling the president scary and disturbing says he is unfit to hold the office. president trump has a message for the democrats. build that wall or o face a government shutdown. we're on that story and more after this.
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>> now we're come back a little not much we're down 77 points this wednesday morning. 218 is where we are. now, whole foods shareholders they're going to volt on the amazon merger today. nicole is there any doubt that they will say merge, please? >> they bless the union. well thed idea here is that they will go ahead with this. the margin in grocery business are are very fence most talked about potential merger we've talk about all year a 13.7 billion dollar dell and shareholders want to move forward because they've had a hard time reintaying customers e everybody has else gotten into organic business for amazon what will they do with all of this new real estate will it be grocery and fulfillment centers so that's the idea behind it because the grocery business overall -- any experts will tell you that
people just order everything onis line. they don't necessarily find everything and nots convenient et cetera so we'll see whether or not they move forward with this one in the union. >> nicole thank you very much indeed. everybody what is value of iewb über it was 70 billion hard to say because there's not a traded stock to you can't put a dollar value on it very easily. now we have four mutual fund companies, sort of marked down their investments in über liz i guess that means über is not qort 70 billion. >> it is not good news at all so hartford and prince pl that's group of funds mark it down, as much as 15% so here's a other back story is that's going on that's weighing on über. bench mark capitol a big d.c. fund that invested in über trying to sell its own stake to soft bank at a traumatic diskowngts there's talk on the street that's 69 billion or so evaluation will not hold that it can go to $50 that's a big deal. so we don't über may not go
public any time soon with this kind of talk. >> i would love to own a piece of über i don't think i'm going to get the chance to do it. and stay is private for some time got to. trump last night was talking about the biggest tax cut in history it was in arizona. roll that tape. >> we're giving you the biggest tax cut in the history of our country. the democrats are going to find a way to obstruct. if they do remember, they are stopping you from getting a massive tax cut just remember that okay. >> all right so scott is with us, he's with the tax foundation. you know, scott we had to wait this will many in the end to hear about tax cuts it was proceeded by vigorous attacks on the media and a a resurrection of the charlottesville issue. did the president step all over his own agenda because i think that's the verdict of the stock market this morning. >> well certainly. if tax reform is going to be successful is needs presidential
leadership it nodes a president out in front on the issue and up support among the grassroots and unfortunately he waited a little too long to get into that. we wouldn't like to see the president more engaged on this issue because it can't simply come from congress. it really needs presidential leadership like we saw with ronald reagan in the 1980s. so -- >> you wanted this. yowpghted to barn storm the country to push those and tell the people tell the world this is why we want tax cuts sh it's the you, it's the middle america. but -- >> he didn't do it but now you have this article in "the new york times" saying that the president -- and a mitch mcconnell are at odds they're they just haven't been talking, and they have the phone conversation august the 9th which had dissolved into really nasty shouting match. that again is not good for the tax cut barn storming tour? >> it is extremely worrisome and
there's already worries that tax reform will creep into next year, of course, puts it in the middle of the midterm elections and that puts all kinds of political pressure on the process alone. so you've got to have between white house and congress to get this over the finish line and this kind of bickering is simply not helpful. here's other one president would shut down if border wall is not funded by congress. u you know, there's another problem isn't it for tax cuts if tax cuts are shungted into distant future because you've got what's ling oh the border wall and budget, that's another problem for tax cuts isn't it? >> well it can be but certainly republicans control the playing field here. both the house an the senate can pass a budget on their own. they doapght need a presidential signature on the budget resolution. the budget resolution since spending and tax policy and the
only need 51 votes to get tax reform across the goalline in the senate so those are at least promising developments. but certainly if the president is not onboard and is bickering about the wall that creates all kinds of complications that really had you had did i the water. >> scott i have limited time left i want to zero right in and handicap this for me what are the odds that question get a tax cut of some sort this year? >> well, 50/50 this year a much more bullish on tax reform coming early next spring before the election season begins. i'm have confident they're going to get something den and i think more than just tax cuts it will be something very close to fundamental tax reform. >> okay. we shall see. thank you for joining us as all appreciate you being with us. check the dow 30 with a sense of the overall market here. a lot of red right there we're
down 67 on the dow and about two-thirds of the dow 30 are on the downside in retd. espn reassigning asian american sports cast because he shares name with the famous confederate general. pc gone wild more to this story and we're on it after this this. that can be really serious... especially for my precious new grandchild. it's whooping cough. every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated.
>> my story of the day espn has confirmed that it is management moved an asian american announcer that gentleman robert lee off the university of virginia home open per football game because of the name with a man on the right. >> yeah. but it's his house to leave. >> that's the other side of this story a source within espn and an anonymous source so take it for what that is they realized the coincidence of his name and all a of the controversy that's gong on with the stat child abuse everything -- statue and went to young announcer i think his first game they said you have a choice do you want to do the game fine if you don't out of sensitivity that's fine too. what do you want to do? switch my assignment because i don't to be o ridiculed on social media and i don't to be o the story i want to be the game to be the story but espn said he was gwinn a choice. >> at first i thought it was a
joke asian american, confederate general confusion ridiculous. it is. but that's how far we've come. i do want to leave time for this story of interest to anybody who is thinking of traveling to mexico state department issued a travel warning where are they warning against and why? >> cancun, san lucas very popular spots, they're talking about the u.s. citizens have been a victim of violent crimes including homicide, ked kidnapping carjacking robbery warning that criminal are networks are setting up these fake police check points with criminal criminals are running them and assaulting u.s. citizens. these are popular tourist destinations. >> that's about the worst public relations. >> worst image problem i can think of. >> on heel of a fake alcohol story that -- ashley reported about methanol that creates formaldehyde in the body when you ingest it. some of the resorts i'm told that you go, and everything is
included unlimited alcohol -- all inclusive -- right. and so there's been some fake alcohol in infiltrated into -- >> they say resorts are safer than streets but you have to get from airport to the resort? >> it is dreadful to be honest. a travel warning from the maybe. to mexico's economy. quickly check the big board we're coming back a little bit we were down what had 80, 90 now we're down 90 next case, the left using violence to intimidate trump supporters and that's not the way they're trying to deny free speech to conservatives. i have a list for you, my take to of the hour, coming up.
case in point. jihad watch. a website tracks radical activities. paypal kicked jihad watch out. could no longer raise money? no. leftist groups showed quote, extreme hostility to muslims. they equated conservative opinion with hate. jihad watch is backs on paypal because there is a outcry about the censorship. this is how the left will deny you access to conservative opinion on the morning news feed. big tech companies are in charge of what you can see and read on morning news feed. they're not friendly to the president and not friendly to the any opinion on right of center. they're predisposed to censorship. the left knows this and exploits it. your free speech is at stake. two more brief spree speech items. the violence last night in arizona that is the left intimidating trump supporters.
it is another attempt to deny their free speech. here is something more subtle. a cnn anchor this week admitted that journalists do not like or approve of the president. that attitude, he said, is near universal in private. and it surely affects their public reporting. seeking a, speaking freely in support of conservative opinion is not encouraged. perhaps our greatest freedom is the freedom to speak freely. it is being taken off us. can't let that happen. the second hour of "varney" an company is about to begin. ♪ -- "varney & company." is about to begin. ♪ stuart: l what you're looking at there is the violent protests outside of president's, auditorium where the president spoke in arizona last night. we'll have more on that in just a moment.
i'm calling that a denial of free speech to conservative opinion. we have breaking news, affecting the real estate industry. new home sales, what have we got? ashley: they are down month to month, 9.4%. interesting because new home sales were on quite strong footing. three of the last four months we've seen over 600,000 annualized in this space. another indication perhaps this market is, this sector, if you like is slowing down a little bit. we know there is a massive problem with inventory. not enough homes for sale. prices are going up. that has effect on first-time home buyers not being able to get in. stuart: lizzie, you said earlier number of homes available for sale has gone down, how long? liz: 25 straight months. stuart: two years gone down. that is why prices have gone up. now we have new home sales down
which means there are fewer new homes on the market. ashley: right. stuart: the inventory is shrinking again. we can expect prices to go up again, am i right? liz: looking for house prices have been up for every quarter for the last six years. stuart: that's the one. which makes it seller's market, doesn't it? ashley: yes. there are bidding wars on homes now because of the lack of inventory. stuart: also means if you want to get money out of stocks, maybe put night real estate prices are rising. you have to pay a pretty penny. ashley: you will. stuart: maybe get investment value down the road. convoluted attempt to suggest alternatives to investing in the market. the market is down 72 points after 33 minutes worth of business. look at the big tech stocks. we check them every single day. there is were the action has been, facebook, microsoft, amazon, alphabet apple down.
fiat criser is up after the company reported they might spin off the maserati brand. they were earlier talking about selling the june unit to a chinese company -- jeep unit to the a chinese company. casinos after a deadly typhoon hit hong kong and macau. that is high as they go in typhoons. great winds for typhoons in hong kong and macau. my take editorial at the top of the hour. tammy bruce fox news contributor. paypal restored jihad watch. they took them out because the left said they are a hate group. i say this is a way of censoring conservative opinion. and you say? >> not just censoring conservative opinion but destroying them financially. this is what the southern
poverty law center did. stuart: they were behind the -- >> legitimate hate groups people recognize or problems, weaving in conservative groups in the process, including by the way david horowitz's freedom center. we know david horowitz here. that is on the list as well. what allowed the list "propublica" sent out letters it, was a public letter. they mentioned amazon, which has you know affiliate works with, take percentages of books that are sold. of course paypal. they mentioned newsmax has arrangements with some conservative sites that pay people by clicks, trying deliberately, send a message, worked with paypal, you're on notice, these are hate groups. suddenly paypal shuts down jihad watch. david horowitz's freedom senter is all right. this is where conservatives have
to begin to think of alternatives but just is, with your point, it is, the distressing, direct effort i think some collusion, it appears to be the southern poverty law center and "propublica" to use that use that list to try to destroy particular sites. stuart: nature of conservative opinion and labeling it hate. >> literally not just taking it out of circulation but destroying people financially. stuart: want to talk to you about james clapper, former director of national intelligence, he has harsh words following the president's rally last night. listen to this. >> i don't know when i've listen and watched something like this from a president that i found more disturbing. i really question his ability to, fitness to be in this office and i also am beginning to wonder about his motivation for,
maybe he is looking for a way out. stuart: tam mixer i can't ever remember anything like this before. the former direct are to have national security questioning the ability and fitness of the president to be in the oval office. >> this is how partisan things become. this is obama partisan who is doing now the work of the democrats. stuart: outrage just. >> if i may add, remind people, that james clapper lied to congress about the nsa's program spying on all americans. he was asked directly if they were spying on americans. he said no. later on i told the congress the least untruthful thing i could. that was the scenario that provoke edward snowden to reveal information he had about the nsa which was ultimately declared illegal by a federal judge because what snowden released. he said he did it because he watched james clapper lie directly to the american people. this is what is so troubling. americans have to realize that this is the establishment bureaucracy now, and one side
that is willing to say anything to disturb the duly-elected president, effectively trying to nullify the election. they will fail. stuart: i found mr. clapper's comments disturbing. >> outrageous. stuart: i did not find the president's comments disturbing. >> he found the president's comments disturbing. stuart: we've come to this? lord. tammy, thank you very much indeed. let's deal with money, specifically the retail sector, kohl's announcing they will cut floor space in half some of its stores, use the space for warehouse space basically. that is what they're going to do. that would allow them to ship very quickly items ordered online. it is an online warehouse situation. that is what they're becoming. we have with us the guy who invented, not invented the ets, my buy, i buy, is that right, christian? let's explain to our audience
who doesn't know you. you have an etf, that is gasket of stocks. you only allow stocks in the basket which have 70% of their business done online. that is what you have done, that is what you have created and you have done very well. do you think kohl's is indeed moving towards almost an online operation. >> yes, stuart. they are going to have to because they're seeing sales decrease like other department stores. they're under financial pressure. it makes more sense for them to become efficient, closing down some showroom space converting it to storage space. this is unbelievable disruptive effect of online retail from companies like amazon or alibaba. stuart: it is all your fault, christian, don't you dare forget it. how about walmart? they have got together with google to challenge amazon. they're offering voice ordering using google's home device. that is another attempt by the bricks and mortar guys to come
back using some online operation to compete with amazon. have i got that right? >> that's correct. this is kind of the strategy of the enemy of my enemy maybe is my friend. so google and walmart here are getting a partnership together to go after amazon. a lot of this is going to be voice-enabled commerce, being able to talk to the google home, voice assistant and buy things on walmart.com. it's a way walmart is trying to counteract the effects of amazon, especially amazon looks like it is going to acquire whole foods. stuart: last time you were on the show, i think you told us, online selling accounts for what was it, about 12 to 15% of all purchases at the moment? but you think it is going to go way up from there. tell us again. >> yeah, that's right. so the u.s. commerce department just released a study last week, their quarterly study. a little less than 9% of all sales, u.s. retail sales come from online.
we think this will double or triple in the next three five years. we think easily online sales could be 25 to 30% of all sales. that bodes well for all these online retailers. how do you pick the next amazon? we're not really sure. so we offer a fund in the terms of online retail etf where you can buy 45 of the companies that have 70% or more revenue from online sales. we think the diversified approach makes sense, instead of risking on the next amazon or picking one single stock. stuart: you're betting online is unquestionably the way of the future. all these ghost malls are is essentially the fault of christian and his etf. thanks for joining us. we appreciate you being here on very important subject. thank you, sir. >> thank you. stuart: how about this one? people lining up for powerball tickets. why not? the jackpot is $700 million. you have a better chance of dying from asteroid strike or
bowl a 300 game than hitting lottery, so we are told. tammy bruce has a ticket already. okay. coming up "the new york times" says mitch mcconnell and president trump have not spoken in weeks. what does that mean for tax cuts? we're all over it of course. you really can't make this up. espn pulls announcer from a game at the university of virginia because his name is robert lee. jason whitlock joins us later this hour. you're watching the second hour of "varney & company." ♪ parodontax, the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪
bucks for entirely separate reasons. president trump clearly taking a swipe at arizona senator jeff flake. he tweeted this moments ago. phoenix crowd last night was amazing. a packed house. i love the great state of arizona. not a fan of jeff flake. weak on crime and border. come on in jeff dewitt, old friend of the show, current arizona state treasurer, former trump campaign chief operating officer. whose side are you on? the arizona republican party is clearly split. whose side are you on, jeff? >> i'm on the side of the arizona voters who do want representation that is strong on crime and strong on boarders and donald trump nails it when he says that anyone here weak on those things aren't going to be popular with voters. he is right. stuart: i will take that as you're on trump's side, you're not on jeff flake's side, you're not on mccain's side. >> i'm always on trump's side, stuart, you know that. stuart: look, the arizona party is split, by the president saying this about two sitting
republican senators, is not going to help the cause of tax reform in the united states senate, isn't it? >> look what we went through? unfortunately a vote from arizona kept obama care repeal from happening. that upsets the president. he wants that on his desk to sign it. it is disappointing for all america, republicans in the senate had seven years to come up with idea of replacement to get rid of obamacare. now that they have a senate to sign it, nothing is getting to his desk. the american public as a whole is devastated by that. we all want it gone. our small business sector especially needs it gone. stuart: jeff, you spent some time on air force one with the president. i don't expect you toll us what transpired between you and president on air force one. you don't do this whole kind of thing. let me ask you this. are you at least thinking,
primarying, alternative candidate to jeff flake in the upcoming election? are you going to primary him. >> i haven't given of thought to it. stuart: yes you have. jeff, yes you have. >> [laughter]. how about this, stuart. i never commented publicly on such a thing. stuart: now you should. you're an old friend of this program of the you know the set-up here. you know what is happening. jeff flake, senator mccain, opposed to president trump. they're up for re-election, jeff flake is up for re-election. you have the opportunity to step in to be a trump guy to get that tax cut through. are you going to do it? >> i tell you what i want. stuart: not the question. >> representation here that is strong on the border, that wants to build a wall, that wants to protect taxpayers and does want tax reform. i'm for those things. i want to see those things happen very much and who knows what it will take to get it there. we have to get that done. stuart: you interpret the arizona vote for me. if it was an election tomorrow,
jeff flake versus you, trump guy, who wins? >> well, you know, there have been some polls on that issue and those polls, go read the polls. i'm trying to dance here, stuart the. stuart: i know you are. i know you are. >> let me dance. stuart: look, i think everybody understands that we got to get tax cuts done. it is key element of the president's growth agenda. we want the economy to grow. tax cuts are the focal point of that growth agenda. that is why i'm pressing the issue. if the president does not have senator flake and does not have senator mccain on his side, is somebody going to step in from arizona and say, i'm on your side, mr. president. it is me and i want tax cuts. is that person going to be you? i know you're dancing around this, but i'm putting it to you again? >> don't forget it is not just tax cuts. president trump has proposed a
very, very popular way to simplify the tax code, which is something that has to get done. so simplifying, we all know, you can't even interpret your own taxes anymore. we have to hire accountants to pay them a lot of money. would be nice to make it simpler to understand what is on the forms. as everybody interest you arer i get it -- as treasurer i understand it. simply kate the taxes, grow the economy i am for it. i will do whatever it takes to help the president achieve these goals. i want to get these things done is i will recommend you for "dancing with the stars." you're pretty good, son. you're very good. jeff, i know i put it to you hard but you're a good dancer. appreciate it. >> always great, stuart. stuart: check this out, mark wahlberg is the highest paid actor around,0 million --
$70 million in earnings in 2013. the okay, the gentleman on the right, easterned a mere 65 million. coming up democrats looking at 2020, pulling opposition research on the vice president, ohio governor kasich, u.n. ambassador, opposition research on all of them. we're on that. ♪ your insurance company
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yesterday reported beauty sales slumped went down. downgrades today, down another 5%. watch out. politics, it may be 2017, yes it is but democrats are already thinking about 2020. the democrat party digging for dirt on vice president president, governor john kasich and u.n. ambassador nikki haley. what do you say so that, tammy. >> they are doing something opposite they need to be doing. they need a bench. they can't psychologically handle the matter president will rerun in 2020. they're killing their own fears thinking it might be nikki haley. this is ridiculous. a waste of money. they have no money. the worst fund-raising they have had in years. and this is what they're doing? it's a little foolish. stuart: but you know earlier we reported, i think it's a petition, isn't it? ashley: yes. stuart: within the democrat party urging bernie sanders to start a new party. ashley: absolutely.
they say the democrat party is milquetoast, no gusto, no leadership, no message. put that in your pipe. stuart: but it is run by the socialists. they run all the positions. ashley: not far enough. >> that is telling you brand damage already happened. the brand damage, want to call this is the peoples party. i'm all for it. split off the vote even more. we'll have our way with everyone 2020. stuart: workers paradise party. >> uncorns and rainbow party. and chocolate. stuart: coming up the admiral in charge of the uss mccain and seventh fleet he is out because of the fourth major collision since february. what is going on at the navy? we're on it, believe me. ♪
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♪ stuart: revolution, the beatles. we play a lot of beatles. 10:30, two seconds time we find out how much oil was taken out of storage, how much we're using. we have the numbers, liz? liz: less after drawdown. 3.3 million out of storage. markets were looking for 3.65 million. this is the 8th straight week for oil inventory drawdowns. stuart: 8th straight week we taken oil, used it, haven't built up the supply, that is keeping prices upper 40-dollar per barrel range? liz: it will probably stick there. u.s. oil out put is at two-year high. we're pumping out nine million barrels a day. stuart: unbelievable.
i'm cheering on the frackers. i want energy dominance. i just don't want energy independence, thank you very much indeed. check the big board, why don't we? change the subject. we're down 65 points. 21,834. big tech names please. it is 10:31, where are we this morning, i will tell you honestly in a moment. i promise. ashley: tension is killing me. stuart: facebook, microsoft, amazon, alphabet. down. apple barely changed up 6 cents. how about american eagle, retailer is up 4%, better sales for the future. market likes that. express reporting higher profit thanks to e-commerce sales. express, to be honest, i don't know what express does. it's a retailer? liz: yes. stuart: e-commerce sales, online
sales pretty good apparently. up 22%. liz: price after latte for that stock. reality check there. stuart: all right. the stock is depressed. new images for the search for missing sailors from the uss mccain. by the way the admiral in charge of the entire seventh fleet is out. joining us van hipp, former deputy general counsel of the navy. look, van, is this seventh fleet operationally sound. what say you? >> i'm very concerned, stuart. it is bigger than the seventh fleet. i think we have a readiness crisis in the military. i've spoken to navy folks and cybersecurity experts i trust and everyone of them says they're not ruling out a cyberattack they believe this is training issue. it is maintenance issues. goes to overall readiness and capability of our military. stuart: this is not what we want to hear, van. this is the pacific. we're going up against china.
we're going up against north koreans. there is a missile threat, a nuclear threat. we don't want to hear of operational insecurity but that's apparently what we've got. how serious is it? >> it is very serious. i agree with you. shows weakness in a region of the world we can't afford to show weakness right now. that asia-pacific region. we have the north korean threat. with the china, we have south china sea issue. we've seen this coming. the joint chief of staffs testified to congress last year. current vice chief of naval operations testified with other vice chiefs of the other services in january to congress they're having a tough time getting maintenance done on ships. here's the challenge for the navy. when ronald reagan was president we had 600 ships. today we have 274. we're asking them to do more and more, so they are at sea longer. when they're at sea longer, they're less time in port. less time to get takenning, they need, and less time to do the necessary maintenance this. is readiness issue.
stuart: as an expert in the field, would you say if challenged, in whatever way, can the american navy meet that challenge at this point? >> i think we can but we'll have to reallocate resources. one admiral, former fleet forces commander i think said it best earlier this year, there are some in the pentagon talking about new things, new capabilities. we better take care of what we have now, make sure it is up to snuff and up to speed from readiness standpoint. stuart: does that mean more money? i know more money is allocated to military? do we need more money onp to of that? >> more money is coming. this will require our secretary of defense, service secretaries to reallocate resources to operations and maintenance funding. reallocate resources to address this readiness and very real readiness crisis that exists across the board. stuart: look at afghanistan. the president is going to move more troops there.
he says we are going to win. let me ask you this, van. what does winning look like? how would we win in afghanistan and when? >> first of all i am glad we have a commander-in-chief with the terrorist killing business instead of nation-building business. i said we can win militarily against radical islamist terrorists but we have to put things in place so it is harder to reconstitute. winning militarily. putting right mechanismses in place so tougher for terrorist organizations to reconstitute. the u.s. coming home. stuart: you know we're in a difficult situation, van. we've got a near half trillion dollar deficit this year, this fiscal year. we're 20 trillion in debt. we've got a do-nothing congress and a president under seen. this is not a good situation, is it? >> it is not but i think this president, what he has to do, he is having to allocate resources. we can't be everywhere.
we have to address the national security threats and prioritize them accordingly, like north korea and so for the. i think this president is focused on the right national security threats. and no question, he inherited a mess. and the most complex national security situation a commander-in-chief ever faced but i, i give him high marks what he is doing from a national security standpoint. stuart: let it out for us, van hipp, we appreciate that thanks for joining us. >> thank you, sir. stuart: now this. this is the "new york times" headline. it reads "mcconnell in private doubts trump can save his presidency." joining us now congressman sean duffy from wisconsin. there is more to that article than just that headline. it goes on to describe a phone call between the two on august the 9th which developed into a profane shouting match. don't, you can't tell me that this does any good to the president's agenda going forward? he needs the republican party.
he needs republican senators, to get that agenda through. >> well the republican congress needs a republican president. so, i read the same article, stuart. it is reporting on a little bit of tension between mitch mcconnell and donald trump t would behoove both men they would stop sniping at each other, whether in private, you know there are leaks all over on both of these teams. we just got back to focusing on our agenda. we have problems get you are agenda -- stuart: sean, i hayhate to interrupt you, sean, last night the speech in arizona the president went right after two republican senators, john mccain, jeff flake, both from arizona. he didn't name them. but he went right after them. that is further division between the president and the republicans he need for his agenda. >> well, listen, i think that, i haven't seen polling but i would imagine donald trump is more popular in arizona than those two senators especially with the republican base.
but my point was going to be, mitch mcconnell, paul ryan and donald trump, we all, they all have the same agenda. we're trying to get health care done, taxes done. infrastructure, roll back regulation. the agenda is the same which is actually a really good place for the republican party to be in. now, there is problems with a few senators in the senate. and he is calling out a few of them, and i think what he is trying to do, not be the bully, but trying to point out to their bases in these home states these senators have to get on board with not just president's agenda, this is agenda these senators publicly said they agree with. they campaigned on them. they have to be called to make sure they come back into the fold and work harder to pass health care and pass tax reform. the president is trying to apply a little bit of public pressure. stuart: last night the president threatened he would shut down the government if the border wall does not receive funding. roll that tape, please. >> we are building a wall on the
southern border which is absolutely necessary. [cheering] >> build that wall! >> build that wall. now the obstruction it democrats would like us not to do it, but believe me we have to close down our government, we're building that wall. stuart: we have to close down the government, we're building that wall. you close down the government, that is another impediment to tax cuts, tax reform, isn't it? >> well, yeah, government shutdowns are never good. president was misguided in that quote is it won't be republicans shutting it down, it is democrats, who won a presidential race how we'll build the wall, secure the border. stuart, back in in the mid 2,000s, hillary clinton, barack obama and chuck schumer all vote to build a wall on southern border. because it is obstruct trump at all costs movement in the democrat, socialist wing in
their own party they can't join him what they agreed with 10 years ago which is border security. if the government gets shut down over border wall it will be democrats that shut it down, not republicans. government shutdowns i don't think bode well for getting us back into legislative wins like what you mentioned, tax reform, and getting health care back on the agenda. stuart: okay. sean duffy, congressman, wisconsin, i believe. thanks for joining us, sir. we'll see when foxconn arrives in wisconsin. that should be good. >> it will be a good thing. stuart: yeah, it will. coming up an astonishing story. espn pulls an asian-american sportscaster from the university of virginia football fame this weekend because his name is robert lee. same name as confederate civil war general, robert e. lee. son whitlock on that next. ♪
♪ ashley: last night president trump said he would shut down the government if the border wall is not funded. last hour we spoke with tax foundation's president, ask him what this threat could mean for those tax cuts. roll tape. >> certainly republicans control the playing field here. both the house and the senate
can pass a budget on their own. they don't need a presidential signature on the budget resolution. the budget resolution sets the terms of both spending and the tax policy. and the only need 51 votes to get tax reform across the goal line in the senate. so those are at least promising developments but certainly, if the president is not on board, and is bickering about the wall, that creates all kind of complications that really muddy the waters. ♪ parodontax, the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪
stuart: this was expected. whole foods shareholders say yes. they want to merge into amazon. no change for whole foods stocks. amazon down nine bucks for entirely separate reasons. sports. wait for it. espn pulls commentator robert lee from a virginia football team. why? because he has the same name as robert e. lee, the southern general. joining us, jason whitlock, host of "speak for himself." he will speak for himself. when i saw this story, i thought it was a joke. what say you? >> listen, if you worked for espn like i did on two separate occasions, if you heard it wasn't a joke. espn is controlled by pc culture. they can make this kind of
foolish decision. they are so worried about twitter, oh, my god the left on twitter will assassinate if you do anything that remotely -- this isn't even offensive. i'm not surprised by it at all. stuart: to give espn a fair shake here, i believe that robert lee, the commentator, was given the choice, do you want to do this game or do you want to walk away? i believe he said, according to anonymous sources at espn, he was the one who walked away. do you believe that? >> i don't buy that. espn approached this guy and said, gave him the option, it is a non-issue! this is an asian young man who happens to share the name of robert e. lee. it is no big deal. no one would have noticed or cared. you don't talk about the play-by-play announcer that much. the guy will just say robert most of the time. not like the guy next to him,
will say, robert lee, what do you think about x, y and zi it is crazy. >> this is ridiculous. we agree about this on, jason. move on to this side. one on side a pro-kaepernick protest on in front of nfl headquarters. famous boxer george foreman says kaepernick's protests are unpatriotic. where do you come down on this one, jason whitlock? >> unpatriotic is strong term but i understand why people interpret it that way. colin kaepernick, allegedly, allegedly started the protest because he wanted to draw attention to police brutality. what happens, because you take a knee during the national anthem no one is talking about police brutality. everyone is talking about did colin kaepernick disrespect the national anthem, the flak and the country. there is no conversation about what he allegedly was trying to draw attention to. so certainly what colin kaepernick did was stupid.
it is ineffective. it started a big conversation about colin kaepernick. i think he is very happy with that i think he loves the attention. i think he loves being a martyr and a celebrity. there will be a bunch of foolish people run out in front of the nfl headquarters today and protest, not police brutality, but whether some multimillionaire quarterback has a job. that's a joke. stuart: i think nfl ratings, they were down last season. i think they're down because there is so much football on tv, not because of the kaepernick, mr. kaepernick taking a knee. what do you say? >> well i think that last year's ratings had a lot to do with the most fascinating presidential election we ever had. i think there has been a lot of research and proof on that. i will say this, though, as this national anthem issue becomes more and more polarizing and more and more pervasive, you're turning off people on both sides.
kaepernick supporters are turned off because kaepernick is not in the league. people that love football are turned off because there appears to be all this disrespect for the american flag. and for america, by some of the most blessed americans. the nfl pays these guys large sums of money. most football fans would love to be professional football players and make that money and get the adulation and celebrity these guys get and now they're on the field throwing a tantrum acting like america is the worst place on earth. it's a joke. it is disrespectful. i don't think it is working for either side. it could, if this continues it could do some damage to the nfl. stuart: we are in complete agreement. i'm excited about the new football season. i love to watch it on tv. play the game. >> thank you. stuart: i think we're both on the sail side here. jason you're all right. see you again soon. >> thank you, varney. stuart: stuart by the way.
varney. much. former intelligence chief, that man right there, james clapper, questioning the president's fitness to be in the oval office. how about that? calling the president's rally in arizona last night downright disturbing. laura trump, the president's daughter-in-law, will respond in our next hour. ♪ potsch: you each drive a ford pickup, right? (in unison) russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. 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.
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due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. stuart: i worry about the "washington post." it was rightly considered one of america's great newspapers. now, i think it is descending into farce. look at this. trump briefly glanced at the sky without protective glasses. oh the horror! i'm sorry, i couldn't resist a little sarcasm there in the extreme. i was taking to task the media because "the washington post" itself, the president glanced at the sun during the eclipse without his protective glasses. well some of you were writing in about this.
first of all let's get to sue. oh, good grief. he didn't stare at the eclipse. he looked up a few times. you're accurate, sue. karen says this, i looked up at the sky before i put my glasses on. i did it to find where the sun was. me too. last one from liz. get over it, varney. glancing at the sun, is something we all do. it is not the same as looking at the sun. don't make a big deal bit. well i didn't. the media did. liz: i think that was me weighing in. stuart: was that you? liz. no, i made that up. stuart: i couldn't resist it because seems so -- ashley: you're not making a big deal out of it. "the washington post" was making a big deal out of it. stuart: i was making a big deal out of "the washington post" making a big deal out of nothing. liz: i don't care what "the washington post" reported. president needs to stop whining about fake news and negative media coverage. every president has been blasted. stuart: hold on a second? liz: they have.
stuart: have you ever seen president trump whine? liz: he was whining about fake news and unfair. stuart: whine, is those nasty media. liz: then he goes right at them. stop complaining about it. every president gets ripped by the press. stuart: no one is getting ripped like this president. ashley: "washington post." stuart: thank you. ashley: what would bernstein say about their vennable paper? i think they would be embarrassed frankly. stuart: we should ask them. ashley: we know what bernstein would say. in their heyday i would imagine not expect a headline on that. stuart: i think we lost, liz. liz: by the way i looked at the eclipse. it was like free lasik surgery. i'm kidding. i'm kidding. ashley: hello. stuart: we're out of time. i promise to be back. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪go your own way
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stuart: this president is not holding back. he is still as combative, direct and sharp edged as ever. under attack from many sides the counterpunch is hard. classic example of this last night. in arizona 19,000 people jammed the auditorium in phoenix and were treated to a campaign style speech that lasted well over an hour, classic trump and. he beat up the media saying they were dividing the country, returned to charlottesville and said the media had distorted his words. the crowd loved it. he beat up senate republicans for the delay in passing his agenda. he didn't name arizona senator john mccain but went after him. the crowd was with him too. eventually he moved on to policy. he wants the tax-cut and the wall but what emerged was a very clear message, i am not backing off, no retreat.
the message was directed at his supporters in the crowd and his supporters everywhere. this is my style, this is how i roll, i am not changing. many voices suggest he is getting in the way of his own agenda. by hitting senate republicans he is turning away the politicians he needs to get the legislation through. the base flows trump, trump love the base and both are at odds to put it mildly with senate republicans. the third hour of "varney and company" is about to begin. ♪ ♪ stuart: people all know that song. put the camera on us you will see it moving. we are stuck. the music is the rolling stones.
down 58 points, 21,00841, even split, reds and greens, ups and downs. the dow is now negative for the month of august. got that. next case, back to my take, top of the hour, fox news contributor and resident fellow at the american enterprise institute. the president clearly rallied his base and went after republicans in the senate who he needs to get his agenda through. did he again step on his own program. >> 100% right. he needs to be -- got to pass tax reform. if he doesn't his presidency is in deep trouble, he has to pass infrastructure, keep the government funded, make sure we don't default on the debt, pass defense authorization bill to
make sure the military has the tools it needs to defeat isis and protect us from north korea. he needs to do all these things, what he didn't need to do was use the speech to relitigate charlottesville which is what he did for 45 minutes, he should have been talking about his agenda, rallying his base behind his agenda and he wasn't doing that and he needs senate republicans to pass the agenda, he needs to stop attacking his own team and start focusing on rallying from to pass this agenda which is so important for both of them. stuart: what do you make of the new york times talking about the acrimonious relationship between donald trump and republican senate leader mitch mcconnell? mcconnell, in private, doubts if trump can save the presidency. on august 9th the two had a phone conversation which developed into a profane shouting match. that does not help the agenda, does it? >> no it doesn't. mitch mcconnell is the guy who delivered donald trump his only
legislative victory which was getting neil gorsuch on the supreme court. mitch mcconnell single-handedly for an entire year stopped barack obama from putting a liberal to replace antonin scalia on the supreme court. trump should take mitch mcconnell for giving him one legislative victory and need some going forward. you can't score goals when you're shooting on your own net. not just mcconnell he is attacking but just lakin and dean heller, two of the most vulnerable senate republicans in the 2018 election. once we learn from obamacare is 52 votes is not enough for the trump agenda. we need to expand the majority, not contract it. democrats are going to take those seats. he is attacking john mccain. i know he's frustrated with john mccain for his vote on obamacare but he needs john mccain to pass these other things. he attacked lisa murkowski, bad vote on obamacare but she's chair of the energy and natural resource committee, we need her
to pass his energy agenda. you cannot win policy victory by attacking your own team. putting pressure on 10 democrats, to get them to vote the right way. stuart: the key point of the growth agenda in my opinion is the tax-cut. got to have the tax-cut to get the economy going. i have 30 seconds left. do you think, what are the odds we will actually get a tax cut, signed, sealed, delivered this year? >> if we stop focusing on attacking our own team and focus on getting it past it can be done. there is not have much division over taxes as there was on what to do to replace obamacare. it is doable and everybody needed. if they don't cast repeal and replace and tax reform they could lose the senate in 2018. stuart: what you said might have moved the market on the upside. if there is hope of the tax-cut
the market moves up. great guy, thanks for joining us. >> love to be on with you. stuart: i will remember that. this guy, shah gilani, very frequent guest on this program, following from our conversation i think this fight between the president and mitch mcconnell about the legislative agenda is what is hurting the market and it is giving me pause about where the market goes from here. >> the site -- giving market indigestion, market is so used to political infighting, used to republicans fighting the president. if something were to happen and i will go out on a limb, if this devolves into something really bad, and mcconnell quits, stepstone, the market would rally tremendously. the president is fighting republicans in congress, not getting any of the republican congress is not leading the
agenda forward, not his, not theirs, they don't seem to have one. markets recognize this. in a 70 because republicans aren't doing anything, they are fighting their own president. they fought donald trump's candidacy from the get-go, this is playing itself out in the public and this is what trump wants to do to drain the swamp. stuart: i am listening carefully to what you said because for 18 months you have been a regular guest on this program and throughout those 18 months you have always been gung ho, always said watch out, this market has further on the upside to go. i suspect you're beginning to rain that in. you are getting cautious. >> the bottom line for me is the market has a tendency to go up, wants to go up and it will go up eventually. we are at a place where there is potential profit-taking about to happen because markets, a lot of good news is on the out. if we don't get tax cuts, devolving into something really
ugly, the market will back off, so much money on the table no reason not to take profits. stuart: there are three big banks this morning, namebrand banks saying this is a bull market that is long in the tooth, time for a selloff. liz: citigroup, morgan stanley, they said this is an overvalued aging will. we could see a downturn as early as this fall. stuart: getting cautious. >> i have been extraordinarily bullish but it is time to be cautious and put your stops in place and it never hurts with the cash register. stuart: quick question about walmart. they have a developing, minor-league development but makes a significant competitor to amazon, shout to that google home thing whatever it is called. you can say hey you, the
electronic device, that is a cesspool, i say walmart is the principal competitor to amazon developing a somewhat similar operation, what say you. liz: they renamed it the google -- stuart: walmart, would you buy it? >> new economy, the big ones. >> no reason to pile into walmart, it had its day, where is it going to go? this partnership is going to sustain both of them, google doesn't need any sustaining but walmart does, won't lunch it into the stratosphere. stuart: i don't know of any a list as gung ho for the fab 5 as you. does nervous because things are getting dicey. stuart: you are all right, you can come back. we have a jampacked our.
have you heard about the tiny house trend? people that want to live in homes 400 ft. or 500? sounds crazy but a lot of people are truly downsizing, bob massey, host of property man is here to tell us about it. i went 300. donald trump railing against the media, and media watchdog brent bozell will respond. look who is coming down the hallway, laura trump, donald trump's daughter-in-law, she is on the program next. when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪
night, jeff flock in the thick of the protest outside the rally in phoenix, arizona. laura trump, wife of eric trump and senior advisor for donald trump for president, welcome to the program. >> glad to be a. stuart: forgive me for asking, you are obviously expecting. >> obviously. i have three weeks to go. stuart: congratulations was on a personal note you just saw the violence, you know all about this. what is it like to be a member of the president's immediate family subject to this kind of personal attack? >> i saddest part is the role the leftist media have played in my opinion. they really are to blame in many people's opinion for inciting the silence, they should take a long hard look at themselves in the mirror and ask themselves are we part of what is going on in the country? a lot of people would say yes. look at things like my husband
for example who at 22 started a charity for kids with cancer to donate money to saint jude. he raised $16 million for kids with cancer and get the tax for it and it is disappointing to see it has gotten so personal and so aggressive. stuart: how do you deal with? do you ignore it or push back? >> it makes us all a little stronger, closer as a family. you have to ignore some of it because we know these are not all true. most of all we all feel like we are doing what we is best for the country, we are fighting every day alongside the president for the country. stuart: in an interview on cnn last night, the former national intelligence director james clapper had some harsh comments for your father in law, the president. roll tape. >> i don't know when i listened and watched something like this from a president that i found
more disturbing. i question his ability, his fitness to be in this office and i also at the beginning -- am beginning to wonder about his motivation. maybe he is looking for a way out. stuart: his fitness for office. clapper is questioning her father-in-law's fitness. a very personal statement on his part. your response? >> maybe he should talk to the tens of thousands of people who turned out for the rally in arizona who have a different take on that. he should talk to the people who after years have a job now whose 401(k)s are going up, who feel the country is finally moving in the right direction, we have respect restored to the united states of america. the vast majority of the country would strongly disagree with him. stuart: personalization, to say he is unfit for the presidency. a very personal thing to say. >> they have been doing that
since the beginning, for two years, it hasn't been like we have seen in the past, it has been very personal when it comes to my father in law, when it comes to our family and i think they know that is the only card they have to play because the reality is country is getting better. my father-in-law has created 1 million jobs, unemployment at the lowest rate in 16 years, they can't refute those facts, those are solid hard fact and the only option they have is to go after him personally. stuart: previous administrations, the family was off-limits, untouched and the media respected that distance family kept from the presidency but not with the trump administration. any idea why? >> i think -- i think they hate him. i the media largely has contempt
for your father-in-law and you therefore as a relative are on limits, you are okay to go after, that is what i think, it is a disgrace. >> it is really sad. they are doing such a disservice to our country. we all were very open for our role during the campaign, we campaign for my father-in-law and we know he is going to do such a great job, he already is as our president but they feel threatened by that, the establishment in washington dc feels very threatened and i said all the time when i get the opportunity to speak at these amazing rallies, the more they fight him the more you know he is doing the right thing. stuart: it was a pleasure to have you on the program. this may be the last interview. >> before this baby comes. stuart: congratulations, thanks for being with us. check the big board. we are a financial program, we are down 69 points but we are at 21,00830. here is what is coming up, blotto fever sweeping the
country. the powerball jackpot stands at $700 million, second biggest prize in american history. if you were to win how much money to the government taken taxes? what would you spend it on? first, last week we told you emma stone top forbes list of highest-paid actresses as in female actor. forms just-released its list of highest-paid male actors. can you guess which one of these five makes the most money? they are not in order on the screen. i thought it was easy. back in a moment with the answer.
actor in hollywood. big chunk of the money came from its rolling daddy's home and transformers the last night. $68 million. mark wahlberg ahead of dwayne the rock johnson, $65 million, rounding out the top 5, vin diesel, adam sandler, jackie chan. canada's prime minister justin trudeau getting culinary tributes, that is a butter sculpture. and two newborn pandas at the toronto zoo. elon musk posting this picture on instagram, thegloggle, new space suit for space x. musk says that suit actually does work. he also says there will be more pictures in coming days in case you want to see them. now really important story. samsung releasing a new galaxy node 8, that is a hint how it might look, the flagship smart phone from samsung, we will have it on the set tomorrow.
the challenger to the next iphone. complete recovery from the seven, burst into flames. the powerball jackpot, $700 million. suppose the winner take the lump sum payment. how much do they get? ashley: most people do that and immediately chop off a bunch of money. you win $700 million you will gross $443 million. right off the bat. and there is federal tax off of the 443, so 25% brings it down to 308, 309. then you add in the state taxes. some states including california doesn't tax lottery winnings, so that is good, puerto rico the best, you get before $43 million. the worst place to win for
texas, new york, you walk away with $293 million from that $700 million jackpot. stuart: check the big board, we were down 85 points. now it is down 55, 21-8 is where we are. espn pools and announcer from a game at the university of virginia because his name is robert lee. the gentleman on the right is also robert lee, one of them is out. espn got a problem. don't let dust and allergens get between you and life's beautiful moments. flonase outperforms the #1 non-drowsy allergy pill. it helps block 6 key inflammatory substances that cause symptoms. pills block one and 6 is greater than 1. flonase changes everything.
stuart: very few people can tell me what the song is. metallica. enter the sandman is the name of the song, down 50 points on the dow, evenly split winners and losers among the dow 30. we received the new home sales, down 9.4% compared month over month. i want to talk about tiny homes. this is a new trend and i am following up. people appear to be downsizing, 600 ft. homes, that is it. that is tiny.
bob massey is the host of property man. 400 to 600 ft. is tiny. what is driving this trend? >> one of the segments we did on this show was a young girl who built a home in lafayette, louisiana and drove it to california, 160 ft. . a lot of these young kids have decided they want to be mobile, what these tiny homes go to place to place, the problem they are faced with is there is no place to put them like this young woman we interviewed found a friend, met a family, they have room in their backyard and that is where she parked the tiny home. a lot of ordinances don't allow them like rv centers so it is a problem but that is the way some young people want, they are not
worried about a lot of space, they want to move around and that is a trend. stuart: how much are they? can't imagine paying more than $35,000. >> it depends. if you build it your self it is pretty inexpensive. if you go online and look at these companies it to go from 20,000 to 60, 70,000 because it depend on the amenities available in the particular tiny home you have. one thing that is interesting, talking with a buddy of mine, we should go out in the desert area and try to buy some property and build a tiny home because they have no place to put them and have hookups and things like that because that is the biggest problem. stuart: always the entrepreneur, let me ask you this one. in los angeles the local government is offering $75,000 to homeowners who build an extra home on their property. to house the homeless. that is a pretty good market for
these tiny homes, isn't it? >> it could be, no question but the idea is the homeless people, do they have the money to afford these things? if the homeowner is going to get this incentive of 75,000 the question is going to be by they going to build a second home on their property? the i find interesting which i never had a chance to study his ordinances. are they going to waive certain zoning issues? what about the future of selling these homes if you have a tiny home or a home like that on your property, you're dealing with safety issues. as we know a lot of these homeless people have emotional issues and as a result there is
an issue of safety. it is interesting thing, they raise millions of dollars to build more housing shelters for homeless people which they should. stuart: i like the trend towards tiny homes, thinking of downsizing myself, not sure i could go down to 400 ft. but 600 is doable. we will be watching you, watch out, see you soon. back to politics, new york times reports the relationship between donald trump and mitch mcconnell is trained and that is an understatement. james lacey is with us, james, you worked in the reagan administration, using the relationship between president reagan and congress, it was never anything like this, was it? let me go further. i don't see how you could have such a strange relationship between the president and leader of republicans in the senate and still get tax cuts. what do you say? >> ronald reagan won his tax cut and he won them with tip o'neill as the speaker of the house with the democrats in control of the house of representatives losing the vote.
the camp rock bill was passed in august before congress went on vacation in the first year of the reagan presidency, we are behind schedule, it was passed by democratic-controlled congress. he was up against to bowe neil actively working against him so trump out to be able to work out some of these issues. stuart: hold on a second. there is no way, the times is reporting there was an august 9th on conversation between the president and mitch mcconnell which developed into a profane shouting match and they haven't spoken to each other in a couple weeks. that is the backdrop. i see that as a negative for the president's agenda. don't you? >> donald trump is wildly more popular, believe it or not, contrary to what the media would have you think of a wildly more popular than mitch mcconnell,
nancy pelosi. mitch mcconnell's positive have been on a constant decline is your it it has something to do with the fact that people perceive that the congress is contacting on the trump agenda. the one unifying thing for the republican party is to lower taxes and cut spending. of the republican party can get its act together on any issue it should be to cut taxes. when ronald reagan and the republicans and reagan democrats cut taxes in 1981, they led 4% growth and the longest sustained period of economic expansion in the history of the nation up to that point and what did they do? they simply cut rates, marginal rates by 25% over a 3-year period, they cut corporate taxes and estate taxes. we don't need to talk about tax reform. former congressman camp, talking about making changes to the
mortgage deduction and taking away the local tax deduction, that tax reform is basically a euphemism for raising taxes. we don't need that. forget about tax reform. what trump campaign done and republicans have always campaigned on his lowering taxes and cutting government spending. if we can get this republican party unified on anything it out to be to just cut taxes. they are behind schedule for ronald reagan in 1981 but still have time to get it done. stuart: you are right, thanks for being with us. i'm going to move on to a congressman, tom read the republican from new york a member of the tax-writing committee, virtually the same question to you, how can we get tax reform done when the president is at such odds at the throat of mitch mcconnell. it just doesn't look very
promising, does it? >> i appreciate that comment but i know both of these men, paper the american people first and mitch mcconnell and the president share a common mission to lower taxes, do tax reform for everyone so we have a simple, competitive progrowth tax code going into the future. stuart: that is what we ought to have. should we not also have a meeting, public meeting between the president and mitch mcconnell in which we say we have a unified goal and a goal is cutting taxes? that would help, wouldn't it? >> it would be a positive sign. i have heard speeches from mitch mcconnell and the president on several occasions showing the commitment they each share to getting that done and on house ways and means committee we are committed to that goal also so all levers of government, house, senate and white house i working in tandem to accomplish the mission for the american people. stuart: one more thing, the rally last night donald trump said he is willing to shut down the government in order to get the wall, the border wall funded. roll the tape for you. >> we are building a wall on the southern border which is
absolutely necessary. [crowd chanting] >> the obstructionist democrats would like us not to do it but believe me we have to close down our government, we are building that while. stuart: it doesn't matter who gets the blame for shutting down the government. the fact is you shut down the government and you delay tax reform, don't you? >> i agree we cannot shut down the government and i'm very confident that is not going to happen. we will get through the budget process in a way that serves the american people like the government open at, the priorities of the president and moving us forward on tax reform. stuart: i would save. of the country at the moment, this is a subjective thing for me to say, the country absolute is against congress and for donald trump. what do you say? >> we all have to answer to the american public and the american people and we will let that occur at the next election cycle
but in the meantime we in congress have an obligation to get the job done. in the house got the healthcare building, pushed into the senate, i think the more we do to work for the american people everything takes care of itself not only for the president but for us in congress. stuart: the temperature is rising, anger is building and a lot of it is directed at the republican party. i have to tell you that. >> i agree with a fair criticism but it is end they were we are standing for is the american people. we will put american people first and try to govern to make sure their interests are taken care of, not the dc elite and democratic operation. stuart: thanks for joining us, much obliged to you. thank you. here is what is coming up. cnn admitting on-air journalists don't like donald trump. our media watchdog brent bozell on that. >> if you want to discover the source of the division in our
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>> if you want to discover the source of the division in our country look no further than the fake news and the crooked media. the very dishonest media, those people right up there with all the cameras, they make up stories, they have no sources in many cases, they say a source says, there is no such thing but they don't report the facts. stuart: that was the president last night clearly slamming the media, the same media that now admits journalists don't like the president. cnn's brian stelter admitted last week many journalists are
questioning the president's fitness for office, they are contemptuous of him, they don't like him. brent bozell from the media research center joins us. he admitted on the air what you and i have been saying for a long long time, you in particular that journalistic class is contemptuous of our president and the president's right to point it out. go ahead, you are laughing, i don't know why. >> i don't know if it is a flip on his part or if they are so open, so transparent in their hatred of this man. this is what he said. there has been a lot of tiptoeing going on. his actions have been described as an presidential, unhinged and sometimes even crazy. that word crazy can be interpreted several different ways. it gets said more in private than on tv and goes on to say is the president of the united states a racist community suffering some kind of illness,
is he fit for office? when talking privately everybody thinks this is the case then they look at the camera and say but we are objective reporters. stuart: you and i know for a fact that there is real contempt and hatred out there especially in that journalistic class and i am surprised to see it admitted on the air on the clinton news network. >> because they just aren't holding back now. you heard the roars in the speech last night when trump mentioned the media. there is contempt in his base for the media. there is contempt of donald trump from the media. this is a war between both sides but the difference is donald trump is very open about what his position is like. these reporters, quote, reporters once you to consider them to be reporters.
they are political agitators. they are at the forefront of a left-wing agenda that has as its desire to destruction of donald trump and i believe they will not stop unless and until they get the removal of donald trump. stuart: you have been very critical of nbc's chuck todd for an interview with mark bray. spell it out for us, you think he is soft on leftist terror? >> mark bray is supporter of anti-fa is violent permissible and they have a nice chitchat debate whether there should be violence and on sunday what do you have year, you have a militant left-wing organization debating a radical left-wing organization on the proposition
is silence okay, try for a second to imagine for a minute the same reporter, chuck todd on msnbc moderating a debate with, say, the ku klux klan on one side and the john burke society on the other with the question is violence okay? this is a leftist organization and chuck todd simply does not understand when you do something like that you are raising the credibility of the notion of violence against their political enemies. this is aiding and abetting in a very dangerous conversation. stuart: we have never seen anything like this before ever. i want you to stay right there. when i come back i want to ask you about this one. espn reassigning an asian american sportscaster because he shares a name with the famous confederate general. we have never seen anything like
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stuart: repeating a story we brought you many times storing because we can't believe it, espn has taken an announcer off of the university of virginia football game because the name of the asian american is robert lee, same name as the confederate general robert e lee. brent bozell is back, just over-the-top craziness, we thought it was a joke but it is not. what do you make of it? >> i promise you it is true. i heard about this on the radio this morning i almost crashed i was laughing so hard. i thought this was a saturday night live parody. if espn is going to take that position they don't go far enough, they need to ban the university of virginia altogether. then i learned something else. espn owns the fec network, so he's in conference network. the southeastern conference is
made of confederate states. i'm calling on espn to ban itself. stuart: sarcasm is a low form of which but in this case it is very funny. it is astonishing. what does it tell you about espn? are they very sensitive to political correctness or are they staffed by a bunch of people who are just crazy? what is it? >> because serious sportscasters, serious people from that industry would never in 1 million years even think in those terms. this i guess is the snowflake generation taking over these networks, nice and young and hip, notice they said this was a collective decision is the collective got together and we had a decision on this and i'm thinking these with-year-olds sitting around the table drinking their coffee saying did
you hear there is a robert lee working for us, nobody bothered to check the he was asian, america, stop watching espn, watch the fox sports channel, this is ridiculous. stuart: we are just getting a little old, that is the truth. >> i am checking to see if there are any confederates named varney. the stuart: let's check, i am out of here. find end to that interview. increasing pressure on the socialists, bernie sanders, to start a third party. ashley: bernie gaining momentum, they want him to attend a town hall and say the democrat party is not the one who represents us and the ideals of bernie sanders. they say democrats are entrenched in corporate money and the money of billionaires,
it is morbid, lacks imagination, gusto, doesn't have enough courage. bernie sanders is the guy who does. stuart: i think that is a threat. if you don't put bernie in charge of the whole democrat party we will start our own and you lose. that is what it is. more varney after this. ♪ ♪ it's a highly contagious disease that can be really serious... especially for my precious new grandchild. it's whooping cough. every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated.
[ male announcer ] at customink, you can create custom t-shirts and other great products for all of life's events. get free shipping and on-time delivery guaranteed. [ all shouting, cheering ] ♪ start today at customink.com. stuart: good question, winning the powerball jackpot or getting a tax cut this year, what are the better odds, liz? liz: i can't believe it. i will say powerball, better odds of winning. >> better chance of being attacked by a shark or being hit by asteroid. as it stand right now odds look better for lottery. stuart: no they do not. liz: are you quoting the gospel again.
stuart: i don't know which new testament book that is. there is a chance we get a tax cut. liz: ye of a lot of faith. stuart: it was completely gone the market wouldn't be at 21,856s, would it? liz: okay. stuart: my time is up. neil, it is yours. neil: stick a fork in it, buddy, it is not happening. it is not going on. by the way i always watch your show. i love watching you and the whole gang but you said the president wasn't whining last night. stuart: no he wasn't. >> i pay tearily when i make these kind of remarks. he was whining, stuart. i know you're detail oriented. i went to merriam webster to complain or express irridtation endlessly. hello! that was the speech. stuart: when have you ever heard the president, this president, um