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tv   Varney Company  FOX Business  September 25, 2018 9:00am-12:00pm EDT

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maria: great show. thank you so much for joining us. go see the day. stuart varney takes you over now. stuart: good morning everyone. the cavanaugh's nomination, wall street journal, the politics of destruction. character assassination might be more appropriate. without evidence without witnesses the judge's been accused of sexual misconduct from 30 years ago. now he's defending himself. watch this. >> the truth is i've never sexually assaulted anyone in high school or otherwise. i am not questioning and have not questioned that perhaps doctor ford at some point in her life was sexually assaulted by
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someone in someplace. but what i know is i never sexually assaulted anyone. i will not let both accusations drive us out of this process. we are looking for a fair process where i can be heard and defend my integrity. and my lifelong record of promoting dignity and equality for women, starting with women who knew me when i was 14 years old. i'm not going anywhere. stuart: mitch mcconnell on the senate floor was adamant there will be a vote on judge cavanagh up or down in the near future. his words. hearing scheduled for thursday but this morning attorneys for doctor christine ford say the hearing plant quote, does not appear designed to provide fair and respectful treatment. they're looking for delay. it now appears that doctor ford was used by the left or to raise her objections way before judge cavanagh was nominated but the democrats did nothing until the last minute.
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ambush and delay is still the democrats game plan. character assassination is the result. stay there please as there's a lot to go out. the market is going up in the present will speak to world leaders and you will see it and ted cruz and his wife run out of the restaurant. what is happening to america? tuesday, september 25, "varney & company" is about to begin. first of all, the markets are going up at the opening bell. not a lot that we are down significantly yesterday. up about 50 points, 28 minutes from now. we are getting the latest read on home prices. i want a number. >> they are increasing but they are slowing down. we were up 5.1% on home prices year-over-year but in may it was 6.4% in june 6.2% and this month it's 5.9.
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you can see the trend is prices are not accelerating at the rate they were. the same three cities showing massive increases. las vegas, they are up 13% year over year. seattle up 12%. san francisco up 10%. those three cities continue to have higher home prices than the national average. sales of existing homes have dropped every month for the last six months. part of that is mortgage rates are going up, as well. there you have it. so. stuart: slowing down. corporate story here. big one. instagram's cofounders have resigned from facebook. from instagram, i should say. >> essentially part of facebook. founders of instagram reportedly have clashes? zuckerberg, ceo of facebook and
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they are now leaving. this comes a few months after the founders of what app which is another big facebook bought conglomerate leaving they are leaving because they do not want the direction facebook was taking that app so it's questioning what happened with facebook in the future and some would say it's the best $1 billion ever spent in 2,012 but back then it at 30 million users now it's worth $100 billion, 1 billion users. stuart: a billion users? >> yes. stuart: we will take it. but they left and the stock is down 2%. let's get back to the cabin .-dot nomination. he says he wasn't at the party, never committed a sexual assault and he will not withdraw his nomination. judge napolitano is here. judge, i'm appalled. the man's reputation has been trashed, reputation and stature of the supreme court is being trashed and i don't know how we'll get back to the stature which this up in court deserves in our constitution.
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>> the nomination is in trouble according to capitol hill producer ordinary. he points to three events. the rather extraordinary letter that judge kavanaugh wrote on his own to senator grassley to deny allegations that have never formally been made. the extraordinary interview last night with martha mccallum where the questions were better than the answers and a vicious blistering speech given by majority leader mcconnell on the floor of the senate yesterday ripping into the democrats. the white house does not have the votes at this point. they know they need to turn this around and counting on thursday to turn it around. there are no rules for thursday. no rule that says doctor ford has to prove this. no rule that judge kavanaugh has to disprove it. it's a question of impressions. at the end of the day thursday who is the more believable person, doctor ford, judge
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kavanaugh. stuart: let me take you back in time. i know you know about this but other viewers might not. it reminds me of the clarence thomas hearing. look at this. >> i think that this, today, is a travesty. i think that it is disgusting. i think that this hearing should never occur in america. this is a case in which this dirt was searched for by staffers of members of this committee and this body and validated it and displayed it at prime time over our entire nation. stuart: that was a disgrace and so is the character assassination of judge. my opinion. >> i fully agree with you. but look at the ferocity with which then judge thomas took on the committee as opposed to the timidity we saw last night from
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judge kavanaugh. judge kavanaugh has to come across on thursday the way clarence thomas did in the clip that you just rent. >> if you asked me about my virginity, go take a hike. this is not to the gates of heaven. you do not have to be aggressive against your accusers whether this lady on the other side of the room or whether it's the ten democrats that want to destroy you. stuart: this is a late to volunteer. the white house says it is open to public testimony from the second accuser, debra ramirez wait a minute. this lady on your screens has no witnesses. >> no credibility. stuart: she was intoxicated at the time of the alleged incident. i cannot believe that the positive for judge kavanaugh to put her in front of the panel. >> this is the business of government to be dragging these types of unsubstantiated allegations before the public
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and shoving them up the nose of the nomination. suppose he does not get on the spring court. can even go back to the court of appeals on the circuit after the taint on his skin? stuart: it's a disgrace. we'll see you in the next hour. thank you. let's get to your money. let's put a smile on my face. you could call this good news. the low reports the median home price in 197 cities now tops a million dollars. i find that hard to believe. but here's a definite good news. credit scores hitting an all-time high. the all-time average, 704. let's bring in michelle, paying capital management. good morning. >> good morning. stuart: positive news on money. toxic politics. i got the opinion that despite all the market wants to go up. >> yes and why? because of fundamentals. with that record-breaking corporate earnings and consumer confidence at all-time high and
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small business optimism at all-time highs. small businesses make up 55% of all new jobs in the united states. this is positive it was. politics is politics. will always have uncertainty so i encourage investors to sidestep the news and invest based on the fundamentals and things are good. stuart: next one, amazon story. i think this is a big one. they filed for a trademark for quote, keeps by amazon. the trademark that this would be used for online jewelry sales. i guess every other jeweler on the planet now has to watch out. >> were all waking up scrambling. will this get a big sore this morning and everyone will panic but i want to remind investors that amazon does not always
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succeed in these new ventures. take the fire phone. that was an absolute devastation. before we all run for the hills on tiffany and other drillers, take a sidestep it they may not be successful. stuart: that would be unusual. >> it would but again we can raise to conclusions. stuart: will the market be higher by the end of the year from where it is now? that the dow industrials. >> if i could tell the future maybe i would not be sitting there but, i think so but fundamentals look good. trade has good headlines - i really do think so. if we get any selloff because the midterms divine opportunity. stuart: got it. thank you, michelle. this is how well it opened this morning 20 minutes from now. on the upside for the dow 40-point, s&p up about three, nasdaq ever slight loss. today president trump will take the world stage with a big speech coming up at the united nations but will bring it to life as it happens. tiger is back and he is proving it. pj victory was the highest tell it up to three of overcast but
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we will show you the numbers. look at that crowd. more money after this. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at
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stuart: again we are going up at the opening bell 40 points. look at this. yield on the ten year treasury, 3.11%. there it is good 3.10%. despite that the market is gone up at the opening bell. strong writing for tiger was at the pga tour temperature. how strong? >> quite remarkable. up 206% over the same torment last year in 2017. he came in with a 5.21 and trying to put that into how many people and they not done that but at the very height of this tournament that await amazing moment with the swarms of people following him, that was between 530 and 6:00 p.m. it was remarkable. highest greatest forecast in
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history. he had competition. week three of the nfl and other things on the people could have watched but word went around that tiger woods was on the verge of doing this and those ratings, nbc is laughing loudly today. stuart: golf is back. let's get to the united nations. remember president trump called kim jung-un rocket man at his un speech and then later there was a summit between the two of them. the fear iran is likely to be the focus and the president has tweeted about this first thing this morning. here it is. that is diplomatic leverage or sarcasm. stephen rogers is on the advisory board. do you think iran will be the focus today? >> let me say that - the fact of
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the matter is the president of the united states will show determination. he was so resolved. he will show that he is absolutely going to bring it to iran today. we are dealing with a terror state. dealing with a country that is not given any value to bringing peace in the region or around the world. we are dealing with a country that creates trouble on the entire planet. the president will make it clear to iran you better not cross, if i will, that line that should not be crossed. stuart: the iranians biggest enemy surely not president trump, although he is tightening down on them. it's their own people. >> stuart, you're right. the iranians would look at us as their enemy at us trying to tear them down or bring the country down. we don't get involved in those regime changes. but their own people are fed up to their next with the way they have been supporting hamas.
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more than their own people and their economy is collapsing. koreans will not worry about us but they got to worry about their own people as it should our dictator in libya should have saddam hussein. all these dictators are brought down by their own people. stuart: you don't expect any backing down, and he backing off from the president of the un today? none whatsoever and not just with iran but with china maybe - >> stuart, what i've learned by working around the president and the people you don't show weakness but show strength. you go into it or don't go in at all. the president is strong and he will. stuart: what you think of the prospects that he does something similar that he did last year with rocket man and kim jung-un? customer name and six later sits on the. is there any chance at all that he would eventually sit down with president ronnie. >> people said when he called kim a rocket man that the war would end and brought rocket man to the table and it's called new york sweeps.
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that's how we speak. he knows how to get to these people in america a time where the dictator in iran will say we've got to sit with this guy and we better sit down with him. stuart: i'm he's an entertaining speaker. >> to remember krauthammer after president trump got elected he said it would be the longest reality tv in history. stuart: stephen rogers, thank you for joining us. 21 minutes are now opening will be up ever so slightly for the dow industrials and the president is tweeting about the big speech and here it is. you will see the speech and it comes up in about an hour from now. there is this. senator ten crews heckled inside a restaurant in dc. he was out to dinner with his
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wife and confronted by demonstrators and then run out of the restaurant. what a disgrace. full story after this. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering this
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so, i have this recurring dream. i'm 85 years old in a job where i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. stuart: starbucks is cutting jobs. more on that later in the stock is virtually unchanged. michael course which will by for
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sergey. as an interesting get-together. they will pay $2.1 billion for that and michael course is up about one and a half percent. we have john hancock. one of the oldest life insurers changing their business model with your help in mind. wrap it up. >> they will stop selling it under traditional life insurance but sell interactive fitness policies tie to fit bits, apple watches where you login your meals and they track your workouts and then they decide on the premiums. you get perks for logging in, what you're eating, how much you are working out. to give you gift cards or premium discounts. stuart: if i wanted to get life insurance policy i got to have a benefit or apple watch and got to plug the thing in the got to hear about my heart or all the time - >> and how much you are working out. hopefully you're on the elliptical daily. stuart: you can't get a life insurance policy unless you -
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>> it has been shown to them that this is very popular in some they offered it in 2,015 and people are more wearables and new apple watch - >> is the issues and they will select the most popular of all customers and . stuart: i don't care. you keep the premiums down and i'm signing up. are we done with this? yes. for importance. a group of protesters shouted out ten a crews avenue and his wife out of a restaurant with the payment of ten people that filmed the video for the same one that confronted him and they're not letting us show the video. actually, you know what happen happened. >> it's called smash racism dc. the group surrounding ted cruz and his wife. they were shouting believe survivors and say that cruz has been friends with what they call, creep kavanaugh, for 20 years.
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how are you going to vote? how can you defend we believe survivors. in the beginning ted cruz except that it just says, god bless you at one point to someone who is screaming at him but eventually he realizes this is not tenable. he gets up, says excuse me, let my wife through. they get outside and they claim victory. stuart: the group, they were inside the restaurant? >> they were. right over him. this happened and they get out of the restaurant and that's when the restaurant takes the group out. they claim these things as victories. stuart: outrageous. i have a lot of outrage in me this morning. [laughter] i look at the united nations. the president will head over there very shortly to give the big speech. it'll come up around 10:15 eastern time. right here. markets open in for a half minutes and were up 50 points on the dow industrials after yesterday's loss. we will take you to wall street after this. ♪
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stuart: could this be another, despite it all day, we've had a few of them recently. the market keeps going up and we were down yesterday but mostly it has gone up despite our toxic political atmosphere.
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the kavanaugh hearings et cetera et cetera. looks like it might be another day just like that. future suggest will be up 50 points for the dow industrial pit right there the opening bell and this is a big loss yesterday and maybe we will bounce back despite it all. 9:30 it's a tuesday morning and as you can see we were down 180 yesterday this morning backup 52 in the very early going. 50 points has it, 53-point up for the dow industrial and a quarter percentage point on the upside. the s&p 500, where is that opening today? it is up a fraction. 3..13%. about the nasdaq? also slightly higher, .09%. look at the ten year treasury yield. people asked me why we do this and that is the key? for long-term interest rates and is now reached 3.10%. normally, you might think that was a signal - >> get to the banks.
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stuart: but the site despite all that we are up. i need help. i will start with facebook. the founders of instagram, a unit of facebook resigned for the stock is well up, down a little bit this morning. it is down nearly 2%. murphy, you are a big supporter will it bounce back? >> it will certainly will. this pullback is an opportunity to own facebook. it rallied off this 160 level before. we've been waiting for a long time and when earnings from facebook they will be blowout earnings and expect the stock back to the $200. stuart: murphy says buy it. >> i love your technical analysis. don't bite into my round but the numbers and i think it's a good thing that these guys are going out because they were - they got it going but what they're doing and susan and i talked to for the show they are the ones
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aren't big on monetizing instagram. instagram is facebook's secret weapon. 1 billion users and they're not properly monetized yet. that is where it will go . stuart: you got to see the back of them? >> i think it's apparent to see how facebook monetizes the property they buy versus the what's app. he left in april this year but it's the second largest revenue contributor to facebook. it shows how they're able to take property, make money off of them whether advertising or what not. stuart: facebook pay 22 billion for what's app, what's app, 22 billion in instagram was 1 billion which is a bargain here. [laughter] we have an amazon story. heads up. they filed for trademark to make it look like they're getting into the jewelry business. how about that? should mom-and-pop jewelers be worried? >> or tiffany's. >> absolutely. i have numbers for you.
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amazon only place where it can move the needle. the five biggest retailers in the us made $11.6 billion in sales last year. amazon can cut a big dent into that it will help them a lot. tiffany, less so because the highest will not go after but mom-and-pop should be worried. >> they are not always successful. did you ever buy a fire phone? >> i never but i have but jewelry on amazon. if you need a simple gold chain for someone then you go to amazon. [laughter] [inaudible conversations] stuart: kubrick's zirconium is very common - >> oh, ouch. let's. stuart: let's move on. google's chief plans to appear at a private meeting on friday and a public meeting later this year. google's work is under the
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microscope. it's all about the suppression of conservative opinion. >> that is one 100%. lawmakers want to see what google has to say. if you look at it it's hard to deny that it has happened in the past so in important thing is how do we ensure it doesn't happen in the future. stuart: but nothing happens to the stock. it's untouchable. it's another tough on site. check the big board. four minutes and were up 50 points. there you have it. how about this? looks like it will happen but michael course will buy in one for about $2.1 billion. i michael didn't mention this earlier and said this is an odd fit but susan thinks no it's not an odd bit. >> i don't think so but look at the and labels under l pmh or even under - they basically wanted the consumer spectrum whether what you call low-cost luxury or label michael course like for sergey and we know versace sales are back up.
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stuart: you are one 100% right. you are so right. passion is to varney as - to go tesla bases a extreme shortage of car carrier trailers to the deliver their sitting. that's according to elon musk. the stock is still - >> and they will need drivers for those trucks also. stuart: true. nike reports profits after the bell today running up to that it's at $84 a share, up slight slightly. fast food chain sonic will be acquired by inspire brains. private company that owns arby's, buffalo wild wings. qualcomm accusing apple of stealing his secrets. what's that about? >> this has been an ugly legal battle. another motion filed today
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saying apple stole trade secrets and gave them to intel for the goal of improving intel's chips with inside their iphones so that they could replace welcome steps altogether. back in november, qualcomm's accused apple of a trade secret stealing them and saying it was a multiyear campaign, sloppy inappropriate and deceitful conduct. now, intel is not involved. it is purely qualcomm going after apple seen the store soft and gave it to intel. stuart: got it. check that big board. we are up 46 points. the economy is going strong. the markets, again, i'm coming back to this all over again. we are up, despite it all. despite toxic politics, we are going up. broken record but what you have? >> i believe the toxic politics don't do much to do with what is going on out in the world fundamentally. we see that the bigger thing, i think, is the chinese tariff issue that happens in the market
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still stays right. stuart: listen to this. procter & gamble, they just said the new china tariffs may raise prices to consumers and therefore that will hurt sales and endanger jobs. are you buying that? >> i am especially since procter & gamble came out in july is the tariffs weren't such a big deal in the new set of tariffs are getting raw material that could impact. >> nothing holding murphy back despite it all. [laughter] >> but look at the underlying fundamentals. corporate profits and earnings. they move higher, by the market and stay on the market. if they start to turn you want to get out of the market and look elsewhere. right now, economy strong and getting stronger. by on any dips you see. stuart: calls? plans to hire at least 90,000 workers for the holiday season. they began hiring seasonal work
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in june and that's the earliest they've ever started. i think they're offering benefits as well. mike, would you like? >> look at the permit. people are not only have jobs but wages are starting to creep higher. people have money they want to spend. retail in general will be a good season. they will be hits and misses but people are going to go out in the consumer is strong and will spend money this holiday season. >> a real battle going on for these employees and target just announced they hire 120,000 paying a minimum of $12. kohl's is giving a 35% discount to employees only for a set period of time. billy offering these incentives and trying to battle each other. last year amazon, 120,000 and a not yet announced how many they will hire. stuart: tight labor market is a good thing. weight watchers, changing its name to ww. it will reflect overall health and not dieting. the new tagline is wellness that
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works, ww. >> i don't love it but there's startups out there that were invested they're looking to get after you and make sure you're healthy and collect the data you have and give it to the insurance companies. it's funded by the big insurance companies so there's a big market out there that weight watchers has missed. stuart: your part of the john hancock deal - [laughter] you can't get life insurance unless you have an ample art or pipit. >> inside me directly but there's a lot to that. insurance companies lose money when you're prediabetic and . stuart: can you just escape into your own thing? [inaudible conversations] >> the famous book on positioning talked about w's. they're going to weight watchers. three syllable name to ww, a six syllable name.
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we will be calling them www. too long. [laughter] stuart: i never thought of that angle. original thinking right there. we still have oprah winfrey, secret weapon in weight watchers. she still owns stock and talks about the rebrand. stuart: she's a smart businesswoman and knows what she is doing. 9:40 and that means you are out of your. gentlemen, thank you. check that big board. up still 50 points almost exactly the 26,620 - were watching the president's every move today. even if he's makes his way to the united nations. to make a big speech there at 10:15 and whatever happens, you will see it. swedish parliament voted to oust the prime minister. this is all about integration in europe. you get into that, next.
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stuart: chat teaming up with amazon to offer high-tech shopping. tell me more. >> exciting. if you use the chat you open your app, click on a picture of the item were looking at it will come up as an amazon barcode or qr code that you can scan, take a look at and the link comes up as well. you can shop on social media. isn't that interesting? it will be phased-in but i think they're taking this new revolution to monetize and keep making money for retailers. stuart: you would do it? >> absolutely. especially for the influencers and where the close now you find the label. stuart: i'm behind the times and need to get the password right on this. [laughter] it's not often we introduce
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swedish politics but we will do that today because the swedes have just ousted their prime minister. i think it's all about integration - immigration. former advisor to the bush and ministration. this is a change in swedish politics. huge change going on. am i right? this is about muslim immigration into europe, and my right? >> you are right. it's also sovereignty but it would not happen without uncontrolled muslim immigration from war zones that happened in europe. if a party in sweden that did well in the last election. some call it right-wing and i say center-right but it's different than the christian democrats and different from the traditional center-right. they are willing to address issues like national immigration and did well in southern sweden where it's 20% muslim and you have jews who cannot wear
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anything that identifies them as jews on the street because the least bit on not just by everyday muslims but islamic the premises. a political reaction to that. stuart: angela merkel changed europe without asking anyone, didn't she? i tell you. minutes away from the president addressing the un general assembly. i think we have been saying he will go after and focus on iran, is that right? >> that's a fundamental part of it. you have sanctions on iran, toughens one coming on november 4, oil sanctions, european allies, france and germany working against us on those. tough sanctions coming on but also an overriding theme of sovereignty, people not america solving all the world problems. people stepping up and in particular middle east who spent strong on iran. stuart: did you see the tweet from the president where he called president ronnie i'm sure he's an absolutely lovely man. did you see that?
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>> that's you don't know whether he's 20 we don't have a regime change for iran but put iran back in a box with obama and john kerry let them out by giving the sweetheart deal to keep their nuclear program investment. stuart: national security advisor, baldwin, went to great lakes to save regime change is not the plan in iran. he did not say if it looks to me like they are squeezing them. >> that's right. squeezing them but leaving an off ramp if they wish. things are done with north korea which north korea appears to be taking. if iran does want to have a different arrangement they were on the march, not just with nuclear program but spreading jihad around the middle east including lebanon and syria. trump has put them on their heels and they want to reach a detente where they don't do those things that fine but they will put pressure on them regardless. stuart: i'm looking forward to the speech. i find the president entertaining in many respects.
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it's the kind of presidential speech you watch. very different from the obama years when it was lofty world peace stuff. not making fun of this or marking it but what do you - what you concentrate and look at? president trump. >> right. there was so much pearl clutching after president trump was stern with crayons that they use nuclear weapon we would annihilate them and you will see a lot of pro clutching this year. stuart: weight - what is pearl clutching? >> well, it's a reaction when people are alarmed at language that is not customary but which i think americans like and frankly, our allies like because it's plain and direct. explaining what the consequences will be to countries that challenge the united states and our allies may be in politics on the council of foreign relations and bookings institution but i think americans like it. stuart: i will steal that expression.
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[laughter] >> i stole it from someone else. stuart: thank you. any moment now president trump will emerge. he is in new york and staying in new york city overnight. he will emerge and get into his motorcade and head down towards the united nations. has he arrived? i'm sorry. i mistook the same. he has arrived. it's around 42nd street at the united nations, e side down there. i was walking around midtown manhattan yesterday and it was gridlock. the president - >> worst traffic in manhattan. stuart: you could not move. we will show you the president at the united nations very shortly. in the next hour, attorney general jeff sessions will meet with the state attorney general to talk about the social media and censoring conservatives. blake berman is at the white house. who will be there, tommy. >> rare times were you get the
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attorney general, jeff sessions, and the attorney general for the state of california in the same room together but it will be an interesting dynamic. it'll be a dozen or so attorney generals from across the country or their representatives. a wide range of states. for example, alabama, california, dc, louisiana, maryland and you get the idea. in 15 minutes or so it's a listening session with the state attorney general and or their representative in regards to consumer protection and the technology industry. as you know, there's been a lot of talk up here in washington and all across the country as to whether or not many of these tech industries have a bias as it relates to conservatives and republicans. told this meeting is to discuss consumer protection and that entails antitrust issues and a free exchange of ideas is one way it was put to me but is a
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report out there that this would involve a discussion of a possible antitrust lawsuit. i would not necessarily go that far just yet. we will see what comes of this meeting. bottom line, the department of justice within moments the attorney general, united states attorney generals from about a dozen or so states all across the country to discuss consumer protection and the tech industries. stuart: pressure is on the pressure is not on their stock price because so far they've all survived intact. we are on top of it and tracking it. blake, thank you. we are waiting to see the president. we believe he has arrived at the nine nations and to speak at 10:15 eastern time so it's a big speech. he has choreographed his movement around new york city. he is at the un respected him momentarily. meanwhile, we have with us tod
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today, tom reed, republican congressman, new york republican. welcome to the show. you never sat next to me before. >> i haven't but we've always done this by camera. stuart: the president said but well spokesperson said he's too busy to meet with justin trudeau of canada even though trudeau is at the united nations. is that a snub? >> i don't believe it is. what is happening here is her mind me of being the youngest of 12. i've ate older sisters and three older brothers and you have a family squabble and a disagreement and animosity but at the end of the day you are family. stuart: this president holds a grudge against to go after the g7 or g20 meeting - he thought that mr. trudeau had gotten the wrong way around the president and never forgiven them. >> i don't think that's it's personal. the president recognizes our relationship with canada is important. just as our families come together at difficult times with my brother being diagnosed with a fatal disease, we came together as a family.
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that's how i see the acadian negotiations going forward. stuart: you're coming from new york state and you have a vested interest in us because canada is just across the border. so far, in all the trade negotiations especially china it looks like american consumers are going to pay a price. procter & gamble is warning prices go up and walmart said exactly the same thing just the other day. you want a tree deal fast, don't you? >> no doubt. but despite needs to happen. we have a disruptive trade policy because at the end of the day this is about long-term positioning america and holding china accountable to take on these unfair trade practices. stuart: are voters with you? will there be pain expressed by american voters, will they go with the president on this? >> absolutely. their stay with the present. i go out on the district and talk with folks and they say they need to settle this up and
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they understand it's not long-term. we need to be on an equal level trade field even with china and that's where were headed. stuart: it will be developed to get china to be completely redo its economic policy. that's what we are requiring of them. >> it is but there are limits to what china can do. remember, they are relying on imports. $500 billion of imports coming into america and only 130 going to china. this cannot go on forever. with chinese debt at 250% of gdp right now they cannot withstand this long-term, just as we cannot. it's what us can into the table and everyone recognizing that settle down and trade fairly. stuart: you believe they are expanding warpaint and we are? >> they are in a position where they can't sustain us also. the come to the table and should come to the table so we can have fair trade for everyone. stuart: okay.
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we are seeing the people arriving at the united nations for the big speech that comes up at 10:15. the speech by a president. given your druthers, what would you like the president to say about trade? >> that will stand for american interest but the doors open to negotiate. the president has sent that message that we understand we are in the world economy but enough is enough we need to keep american interest at the same level equal playing field as others. stuart: you don't want the president to back off at all? you support a hard line with the door open - >> it's operating the new trade policy to light and moving forward in that trade that is fair. that's where i think we end up and you'll hear from the president today. stuart: hold on. i want to tell our viewers we've been telling you that we believe the president has already arrived at the un but i might have to backtrack. the president movements in a city like new york are secret. >> appropriately so. stuart: because inevitably
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someone lurking around the corner. yet to be careful about saying where the president is. at this point, were not absolutely sure. i keep looking at the screen if i can see it out the corner of my eye emerging there but so far we've not spotted him. >> timeline is he would leave trump residence at 10:00 and head to the un. stuart: oh, at 10:00. thank you, susan. we are now told by susan and producers that he has not yet left. he will leave at 10:00 o'clock. that will be one problem for traffic. >> you can't miss the beast. stuart: think he was staying at trump tower but has to go down to the 42nd street, down on the east side. i am told that if he is late arriving at the united nations
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and i'm no reason to believe that he is but if you arrive late they will not hold everything up for him. they will not wait. it will get right on with it. in fact, the president of brazil is already at the podium already speaking to the general assembly. if president trump has not arrived the president of ecuador will speak at that podium. they will not count them out. >> no, we'll just have to wait his turn. [laughter] stuart: exciting day. this is a big deal. it's a presidential speech at the united nations general assembly. he can make news he can move markets. we are intrigued at what he will have to say. you should be because you will watch it. the market up 47 points. stay there please. another big hour coming, including the president of the united states. we will be t back. nts. and we've grown substantially. so i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back.
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at t. rowe price our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence. stand by for the president arrived or he's if about to arrive at the united nations he addresses world leaders in just a few minutes. the iranian president he's in new york too. whether he attends the speech,
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we do not know. but president trump is not likely to ignore the world's primary sponsor of terror. here's this morning's presidential tweet, quote, despite requests i have no plans to meet iranian president rah maybe some day in the future i'm sure he's an absolutely lovely man. interesting diplomatic language there and be that diplomatic in his speech? another likely top sick trade at the the u.n. summit president signed pretrade deal with south korea but did not have time with justin trudeau china leaders he's not at the u.n. summit will you he'll surely feature in the the president's speech. watch the market reaction to any of that -- but most of all watch the president's tone and style. a year ago, he mocked jim as rocket man and sat down with him for a summit in singapore what
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will he say today what will be the follow-up the president speaks in 15 minutes and you will see him here. this is the seconds hour of "varney & company." ♪ >> all right, drum roll please, news on the economy -- it consumer confidence tell me. >> an absolute blowout number for september. 138.4, the expectation i know you hate that but you have to measure it against something it was consider lower 132. don't forget in august a it was also revised high that was the highest level in 18 years or very close to 18 years so reflection of the economy, the labor market and, of course, when consumers are confident they go out the to spain consumer spending 70% of the u.s. economy all of this -- speaks very well. and one thing president may dabble may even reach in that passing because that is a blowout number. >> wouldn't surprise me.
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no impact on the market. which is still up about 30 points. so this news is now been digested i don't think it made that much difference. the big tech names this morning -- all of them up except facebook interesting point here. instagram founders are stepping down instagram is a unit of facebook. jpmorgan warns today that stock facebook stock is under meaningful pressure for the foreseeable future because of the departure of two cofounder of instagram look at chevron one of the biggest gainers in the dow that's because the price of oil is way up. again today -- and look at mike ye yeah a dow component reports earnings after close of trading today. so as you up it that stock is still up there at 84 a share. tesla -- still above 300 yes it is. elon musk says the company is going to have to build its own car carriers because there's an extreme shortage of traders to deliver its cars. got to build its own tesla is at
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3:02 back to the story of the hour, minutes from now, the president addresses general assembly likely topics including iran, and trade -- who is with me? harry, center for the national interest bill former speech writer for bush 43. first of all, gentlemen i want to show you this tweet about iran that came out earlier this morning from the president. in which he refers to rahhani i have no plans to meet, maybe someday in the the future. i am sure he's an a absolutely lovely man. bill sitting right next to me. what do you make of that expression absolutely lovely man. >> he call thed kim rocket man last year and sitting down with with him so one never know. >> it was it tongue and cheek -- sarcasm? >> do you think he indulges in tongue and cheek i think you're probably right. >> what do you say about this?
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absolutely lovely man -- >> well look this is who trump is. president trump is not one of these people who e believes in these very deep, profound foreign policy doctrines. he's a person guy. he likes personal relationships, and i think what that is trump sort of throwing out maybe even olive branch to iranian leader but won't meet him now and no deal off the table and i think what he's saying is look, you know i'm going to try flattery like i did can kim jong-un and who knows where things could go in the future but he doesn't have a very tight foreign policy script. you know he's not going to throw everybody under the bus and talk bad about everybody. you know he always holds out for potential deal of the future. this is flattery are and this is what he does. inches wonder if he'll stick to the script i wonder. i have to ask you harry what tone do you expect? most of our commentators on the show this morning said look it is pretty tough. hardline trump no retreat. do you agree with that? >> i do. he's going to be very tough.
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i spoke to number of administration officials this morning and the one thing they emphasize is this is a big focus on maximum pressure but maximum pressure that goes global. you have seen that successful approach work with north korea. and i think we're taking that approach to iran, obviously, reimposing sanction and kill iran deal but also imposing probably more sanctions i think probably on russia in the future and maximizing those sanctions. essentially anybody that tries to push america around until, anybody that really try ares to do damage to america interest we're going to put pressure on them and i think that's what trump will emphasize in the speech. tnches tough line no backing down maximum pressure? >> i think so. look, one thing i push become on a little last year, the president got a lot of attention for using word rocket man to talk about kim. but if you look at that speech that was the well done forceful speech of american purpose. i thought it was pretty good. i yo three young etion speeches but i'll tell you it is the worst for the year -- >> make sure general assembly.
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and you wrote speeches for president bush. three of them and last year i thought was pretty good in terms of american purpose and so forth. you know, the problem with this is that people pay to the u.n. ideal of human rights no u.n. upholdings and so forth so usually a lot of nonsense for one year president bush we did have him cut through that by saying instead of speaking but to the people of iran. to the people of afghanistan and then the president told me later as he was doing it it was only life he saw it was fun seeing who is going to squirm out there wondering if they're going to be next. >> have question got that sound bite from the president last year? the rocket man soundbite? do we have it producers? if so -- can you roll it now? i would love to see it again. you got it -- yes. roll that. >> united states has great strength and patience if it is force to defend itself for its allies we will have no choice but to totally destroy north e
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korea. rocket man is on a suicide mission from himself. and for his regime l -- >> harry that worked didn't it rocket man, the comment worked because a few months later they sat down for a summit together. >> look i think it did work and i'll be honest with you stuart i was one of the people who were who are fid when he said that. but look, donald trump is a very different president. he's going to use rhetoric that some people will is out of bowpgdz but i think it was a clear shot against him. he understood that. he's probably not able to keep testing missiles and nuclear weapons to where it gets to the point of war. so i think that made the north korean pleerd pause understood that the president was serious in what he was saying and i do think it helped bring him to the table. but i think also give president of south korea, he has his political life in jeopardy to try to make this work with donald trump and kim jong-un. so i think these two things when you put them together i think we
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do have a small miracle when it comes to north korea. >> by the way i want to tell our viewers that -- we're waiting for the president to arrive at the united nations. we don't believe he's arrived yet. he's scheduled to speak 10:15 it could be that motorcade will pull up to unions and he'll step out go straight to the podium and speak on time. that is entirely possible. the president of brazil has just finished his speech at the podium at the u.n. they're not going to change order but when the president arrives when our president arrives, he speaks he goes right up there and he speaks. there you can see the general assembly building right there. bill -- would you ever have written the line rocket man? >> probably not. because i wasn't offended by it. look, i'm willing to give president trump time see how it
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plays out. but i don't think we can call this success. success is not sitting down to talk. success is what the president defines we're not going to allow them to have capable to reach the united states with the nuclear missile that's how i define success. if this brings us to that the president gets a lot of credit but we're going to know is mike pompeo when he was head of the c are ia says it is a couple of months before they have the capability. so there's question withs of whether -- north korea is -- that's the the definition of success that we need to have. whether it fulfills his promise that we're not going to let them get this capability. >> just been informed that the president motorcade is on its way to the united nations building. i wish i had got eyes on it i wish i have a camera on it because presidential motorcade steaming through new york city is a sight to be hold. there's 20 or 30 black suvs -- with way is cleared radar, all over the place. the way is cleared you can't move. there are no pedestrians on the street there's no traffic going
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on the cross streets there. it is an absolute train going straight to the u.n. >> only way to stop manhattan traffic is with a beast in motor keyed, beast is in today. any molt now arriving at u.n. ad you will see it and then he's going to speak. kerry to you now. china, what -- is the president and you don't know but is the president going to say anything about china and if so -- is he going to take a hard line publicly? >> i think he has to. i mean, the whole u.s. foreign policy with the administration was going to come into office, really it was a hard containment strategy to china. you look at people he brought in. peter, other it is they were itching to really take it to the chinese. i mean over the last few years of the obama administration, the chinese pushed to essentially take over the south china sea to dominate on trade to rebuild their military to essentially take us on war if that ever happenedded and i think trump realized that the biggest
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challenge united states has in terms of foreign policy especially in asia isn't necessarily north korea although it gets all a of the headlines with the icbn test and nuclear weapon detonation but the rise of the chinese economy in what the chinese are trying to do to change the international system is these story of our time and i think president trump get that. his advisors get it and i do see you see a lot of talk in speech about that. >> just a few moments ago, literally at 10:00 eastern time, ashley delivered the news that consumer confidence has gone through the roof. 18-year high 18-year high i would imagine the president will have something to say about america's economy. when he speaks to worlded leaders today -- he has reason to boast. >> e he does, and he's negotiating he's speaking from a position of financial strength. i would expect it to come up -- >> i would too. i assume he's going to give president obama credit for this right because if he doesn't president obama is going to take
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it. [laughter] precisely. >> frump is going to address the u.n. moments from now. you willer hear it stay there please. we're going get reaction right after he speaks and you'll see him as he speaks. the president is expected to go after iran in this speech. this morning e he tweeted he has noen plays to meet ruhani and ferris advised president on foreign policy and get his take momentarily, and next hour we'll get reaction from nigel a member of the european parliament and david ruben our voice on israel big show for you. no -- the motorcade i was going to go to break but no i won't do it. no, no, i'm going to show you i can't show you motorcade but just rolled up to the front of the united nations building. the officials get suddenly tense he's here. he's here all looking for him and any moment now he is going to appear and walk through doors to make his way to the podium he's very much on time. it may be that the motorcade
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timed to arrive outside he steps out, with walks through the door, shakes hands with dignitaries. straight to the podium straight to the podium and at 10:15 on time there you go. is that the beast? >> there it is. nickname of the presidential limousine. there are several beasts that i can see right there. i tell you viewers that's a lot of beasts if you ever get a chance and you're in new york -- and president is here -- watch the motorcade. watch the city as it deals with the president of the united states and its presence. it is really extraordinary stuff. i was out and about -- to the sidewalk but trying to drive through -- [laughter] one point i was trying to cross at 55th street i think it was and you couldn't get across. pedestrians yeah locked down. the president is in motion -- >> everybody is locked down. what a sight. of course it really annoys new yorkers but new yorkers don't care for the president anyway. so -- there you go. [laughter] i was cheering man on. there he is rngd side of your screen. there is the president of the united states.
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distinctive outfit red tie surrounded by secret service people. the first lady is with him this morning. and in he comes. i think he's going to go straight through. haley on back -- [inaudible conversations] the media shouting out some questions there. i wonder if he will answer -- will he -- listen -- iran is acted very badly -- we are doing many things right now including sanctions that are massive level one of the highest level we have ever done. iran has to change before i speak about that. i'm not meeting with them until they change their tune. it will happen, i believe they have no choice. we look forward to having a great relationship with iran. but it won't happen now. [inaudible conversations]
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in the process of setting up a meeting with north korea chairman kim has been dealing with us. we have faced tremendous progress far greater than media would understand or know. it has been really a very good relationship as you know there have been no test, no rockets, no missile launches, and hostage become and remains of great heros back and that's already started that process. many more coming in a very short future so we're doing very well with north korea again far greater than anybody qowld know i have -- much personal correspondents with chairman jim and we will i think do something that's good for chairman kim and good for north korea and also good for the rest of the world. [inaudible conversations]
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>> meeting with rod rosenstein on thursday, today i'm doing other things as you probably heard. venn way la is a very sad case and we want to see it fixed what's happening there is human tragedy. okay. [inaudible conversations] this year -- [inaudible conversations] president cannot resist an impromptu news conference. walked into the united nations building, the press is there. shouting out questions -- he toes, on one side first lady on the other he answers the questions. which other president hold impromptu news conference as he heads into a big u.n. speesm the president said iran has been acting badly iran has to change.
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there's not going to be any meeting until they do change. and they will eventually. that's from the president this morning. he also said that he's setting up another meeting with north korea. he did not say kim jong-un but simply said with north korea to made more progress than the media knows with north korea. that's what the president just said. i believe he answered a question about rod rosenstein inconclusively meeting with with him thursday, of course, but the meet of that impromptu press conference was iran and north korea primarily iran. >> in constant communication with chairman kim which was interesting too. never seen that before. no, i'm looking forward to the speech because i think it is going to be -- big contrast with president obama. president trump is not embarrassed about about american purpose and power. >> a good thing for the world not just for the united states -- couldn't be a bigger contrast between president obama u.n.
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speeches and what trurp trump comes up with. day and night. that extreme difference. it really is. the president now making his way into the general assembly chamber if i can call it that not sure of the kreblght terminology but making his way in there. that i believe is the president -- is that -- of okay with a ecuador currently giving his speech i think when he is done, president trump will walk to the podium and start his speech and you will see it all on this program so there you have it the president has arrived. say that again please -- oh, go ferris is with us now. come on in please. i want to hear your take. you just heard what the president had to say about iran. acted very badly and they will change. hard stuff is i would say. >> absolutely. listen, the president has so much to say. you feel when he's coming in and you have a thousand questions.
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he's ready to unleash all of his talkings for and central one is really about iran. the major change strategic change was role from iran deal because was bad behavior, because of the aggressive behavior of the iranian but now position is saying i'll meet with your leadership not going to change the regime. i will meet yo you but you have to give us signs. look north korea stopped firing missiles north koreaed said we are ready to denuclearize we're ready to meet you and not happening yet with iran so a lot of psychological pressure at this point and time. >> i don't know whether you can answer this question yet, but i know that -- hassan is in new york city, do you think he will attend the speech or will he attend maybe walk out in some kind of show? what do you think? >> i don't know. but the move by the iranians would be if they are engage against the united states in a negative way. they may not.
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or they may decide to just sit there and listen to the speech. they would not listen to the the speech by israeli leaders that is a tradition for many years. so let's see if they're going to listen to the speech by the president or not. that would be a message from the side. >> bill still with me here. you mentioned earlier that the progress with north korea ain't much progress really -- >> we don't know. >> willing to say i don't know. >> butth president said look, we have may we america have made more progress with north korea than the media knows. >> i hope that's right. look i'm comforted when i see had him walking in there with mike pompeo and nikki haley i think these are serious people. and i share their views the world as a dangerous place and american power within that world. >> harry, you still with us i believe. you seen the president's foreign policy establishment if i can put it like that john, nikki haley, mike pompeo. you happy with that team? >> i think it is all star team to be honest with you. one with thing i would point out
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is this president is not the type of president to take advice and act on it. he's his own man and especially on north korea. i think his position is a little bit more flexible than nikki haley i think actually the president realize it is that there is a dole to be made here. but i think that if we're thinking north korea with potentially as 65 now clear warheads is just going to just bow down and just give them up for nothing we're mistaken. i think kim jong-un realizes that he does have his on position of power here and i think he will be willing to denuclearize he said as much but i think he wants the deal and president wants his own deal. let's face it if donald trump was going to have a summit with kim young unbefore midterm i think it would be smart for him to be the president to end the korean war what's a huge talking point for him and legacy builder for him and question is will kim jong-un give something in return closing the nuclear facility, giving a full nuclear dossier i
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feel we're on the the precipice of a break through and that is what trump is looking at and smart and takes advantage of it. >> i want to update everyone of where we are, the market as in the stock market, the dow industrials are in kind of pause mode. gain of about 30 points. could be the markets just waiting to see what president trump will say at this very big speech at the united nations if he comes on strong with china, comes on strong about trade -- and any negative way you might see some market reaction to those comments if they're about trade. well the president has arrived at the united nations. we saw him arrive. the motorcade rolled up. he walked out. he's about to go into the main chamber of the -- to the podium. at the moment that gentleman on your careen is the president of ecuador he's speaking. when he's done, i'm pretty sure president trump will take his place walk right up to the microphone and start to talk. we don't know how long he'll speak for what do you think?
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half an hour would that be normal? >> i think that would be a little long. but 20 minutes to half an hour. i think -- >> okay. >> now, by the way, the gentlemen on the left there president of ecuador pl marino he's in a wheelchair not widely flown but may be some delay as he gets away from the podium and president trump takes his place but waiting for that to happen. and so far -- we're about eight minutes delayed. okay, ferris back to you please. what would you like to hear the president say today? >> well, he's going to say many, many things and i'm sure two points i'm waiting for are at least iran position. welcome guess what he's going to announce that nature of the iranian regime but also the step and let me add one more piece of information that public needs to understand. that the way that trump administration is resting iran is not just iran and the united
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states. there are many other players. we know that the european bureaucracy is not very happy with them because they have vested interest in iranian deal and trying to have iranian regime but guess what and you know it already. many european companies are withdrawing. so a certain point that brussels will be alone without no ands with which they could do business with the iran. second, most of the arab countries 80% of the arab countries are already aligned or allied if i can say -- with the trump administration with regard in this regime in iran. and more importantly, basically is the iranian public. i hope that the president will say few words about iranian people who have been demonstrating for last nine months that's the agent of change with regard to regime in iran. >> i wonder if president will bring up idea of open borders in particular with respect to europe we don't discuss swedish politics very much on this program. but today we are -- because the swedish government is just fallen and it is because of large scale muslim
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immigration to sweden. i wound per the president will bring that up on the theme of open borders got to do something about it. >> he could by referring to our borders and then telling community if you don't deal request issue very strategically and real manner you're going to have crisis as in europe. and it's not just sweden it is most recent example of a southern change in the public opinion of european country. not the right wing. this is really mainstream and right of center maybe some left of center. but look what's happening with with hungary. with the czech republic with poland with other countries with italy. and even within germany with and not tough against the immigrants because they don't like them. but to organizers and to bring in some security. to european cities, that is the challenge in europe. i think the president may say a few words about immigration with regard to europe. but that would be an important point to raise are.
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>> bill wrap it up for me before president speaks from what i'm hearing and what president has said iran is the focus. >> look, people focus on iran's nukes which are a real concern. but iran is mischief maker in the region and if it is one thing that unites arab country none live in fear of israel today they're worried about iran because iranian proxies are fighting in -- four arab cities you know to like damascus and yemen. and it is a big problem it is the most look how syria, stablized all of europe and tiny little. iran has a lot of blood on its hand. in the war made ieds i believe killed americans. it has a lot to answer for. if you can fix iran, you would fix a lot. we have indulged iran.
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stuart: harry kazianis i'm seeing comments in newspapers that america is isolated, that president trump is isolated at the united nations. not that we have no allies or friends, but we stand out as different from everybody else and there is degree of isolation. would you agree with that harry? >> no. i think that is bs to be honest with you. united states was weak on the national stage. look at things barack obama did. he did not use american power to the full potential, whether economic, diplomatic, militarily. we suffered because of that. we had a lot of politics hurt our standing internationally. look at sequestration, that is a huge problem for the u.s. military. it has taken donald trump roughly 18 months or so to build back the auspice of the american power. i think he has done a very good job. i think the american people embraced america first but our allies and our enemies understand we're serious on
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these things. this speech he today especially will talk about a couple themes that embrace america first. first couple things. i think trump administration will focus on containing china and iran and reaching out to north korea saying there is an opportunity here. i think the speech will be success. stuart: you're looking forward to this speech, walid? you like to hear the president speak. you find him entertaining? i do. i do. who doesn't. stuart: i'll tell you who doesn't. oh -- >> maybe in secret that is a different story. stuart: i've got some monitor screens and i'm watching two other cable news networks. i'm just dying to see how they treat this presidential speech. i cannot believe for one moment that they won't be apoplectic if he criticizes anybody. i well remember last year when the president used the expression "rocket man," harry, you were appalled when he said it, so was the rest of the media. they just couldn't believe an
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american president would use that kind of language at the united nations. i'm dying to see how the media reacts to this one. >> my prediction they will react like a lot of these sullen countries. the u.n. ga speeches there, is no applause. not like a trump rally. we'll have free trade with china, we'll keep our borders. you declare things there. everyone sits there all these thug regimes sit there sullenly. it looks like you're isolated. i think it is important american president. ashley: they don't like the america first message. they're automobile globalists. what, america first, how dare you suggest such a thing. that makes you feel a little isolated. it is a very strong message. stuart: bill, you just used the expression, thug regimes.
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>> who could you be talking about? so hard. stuart: you wrote united nation speeches for bush 43, you would never have used that expression in a speech delivered by bush 43. >> i can't recall anything particular like that but. stuart: did you write the speech president bush delivered and shortly after hugo chavez -- >> i had a team, yes. i think it was before. stuart: i'm not sure of the time frame. >> hugo chavez came there and denounced in these sulfuric terms. stuart: that's right. fumes of the sulfur. >> that is what the u.n. is. it's a home for thugs. okay? stuart: why didn't you say it? >> i'm saying it now. because it wasn't my speech. it was the president's speech. stuart: bring everyone back up to speed. we are waiting for the president to speak. now he was due to deliver his remarks at 10:15 this morning. he arrived just a tad late.
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and the speaker before him, the president of brazil, finished a tad early. so instead of nobody being at the podium, they brought on the president of ecuador who you see now and that is what is going on. he is going to speak and then mr. trump. susan: taking questions when he entered the u.n. he looks forward to having a great relationship with iran but that is not going to happen now. he says iran has no choice but to change. you see what the focus will be at the u.n. speech. ashley: from a business point of view look at oil prices. they continue to go up and up. iranian president said to mr. trump, i have an idea, keep quiet, stop tweeting. you will be better off with prices. he continues to isolate iran with sanctions and sanctioning those that would iranian oil. that is pushes prices higher. we'll see if that comes up at
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all. brent crude used by most of the world is above 80 bucks. texas oil, texas crude is 70 bucks, 72. so that continues to creep higher and higher. stuart: that could be one of the indicators, if you're looking for a financial response to the president's speech maybe the price of oil will be that response. maybe the stock market too. we're still up between 20 and 30 points. it is really a pause here, waiting to see what the president will say. and when he is going to say it. it is now 10:32. we're tap dancing here. he is 17 minutes late to the podium. we wish he would take to the podium real fast. 26 points off for the dow jones industrial average. i'm not sure the president of ecuador is winding down just yet. susan: wonder if they talk about trade in his speech? robert lighthizer talking about trade. talking about a number of significant issues between the u.s. and canada. we know trump snubbed prime minister trudeau at u.n.
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meetings. seems like nafta is far apart according to robert lighthizer. ashley: a time limit? someone get wrap sign? oscars start playing music. just me, he says. stuart: not like tv news where wear the little things in the ears and our producer -- ashley: wrap, wrap, wrap. stuart: one notable occasion i sat here started to sneak about a story, within 10 seconds. wrap, wrap. susan: welcome to our world. hello. stuart: dow industrials up 25 points. this is a market that is on hold. at 10:00 this morning we received some very positive economic news. consumer confidence sky-high, record levels. susan: highest since september september 2,000 the market is not responding to that. you could say the market is up despite it all. there is fractious political news in the background.
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susan: trade highlights and some of the headlines as well. stuart: but the hearings for judge kavanaugh, the -- ashley: rod rosenstein saga. stuart: that is kind of a negative i would say. ashley: yes. stuart: but despite it all market's up. ashley: doesn't matter. stuart: we have very good fundamentals. growth rate of 4% for the overall economy. corporate earnings. ashley: jobs market is very tight. susan: fed will raise interest rates next few days as well as they have their fed meeting. that is pretty much priced into the market. stuart: is that a positive? susan: 10-year yield, 3:00? that is positive. you're not looking at flattening yield curve which indicates recession. ashley: i think exactly right. take it as compliment. we're getting back to normal. no more cheap fed money. stuart: right. maybe president trump will have something to say about the very strong economy when he makes his speech because i believe yesterday he said, we're growing
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faster than anybody else. that's not quite true. if you believe china's numbers, they're growing faster. susan: india, 7%. stuart: india at 7%. i believe the president was referring to industrial democracies. western industrial democracies america is the leader. 4.3% growth rate. could it be the president of ecuador has wrapped up his remarks. he is leaving the stage. and president trump is about to take that stage? we're going to bring it to you live. you will see all this president has to say. i expect it is going to be very entertaining. i think it will take on iran. i think he will take on trade. he may take on the europeans and open border policy, he may do all of that he may trumpet america's economic performance. ashley: stay on script. he has a very good team of script writers. his speech writing is excellent. the question does he stick with it or go off?
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susan: talking about china, xi xinping, audience president is not in attendance and not in the audience. stuart: he is watching suses sues tv screens around the willed. stuart: you wrote three united nations, three of them for president bush, did he go off prompter, off script? no i think all presidents do a little bit. when a formal setting it is not go hard to go off script. it is hard to go off script and get back on. ashley: once you go -- >> one of the things underestimated about president trump, people think of him with the rallies and impromptu stuff but he has given a couple set speeches i think have been very good, very powerful, very strong. i think he would stick, he may ad-lib a line here or there. stuart: that is when he is at his best. he communicates going off script. >> depends on the audience. formal audience, state of the union if you go off script it can be a disaster.
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stuart: i love to see him go off script with that crowd right there. >> right. stuart: our audience at the moment can see assembled dignitaries of the united nations. they're doing a microphone check. they have to get everything right. when they're done with that the president will speech. we've done a fine job waiting for the president. we call it tap dancing in the business. susan: we shaved half the gains for the dow. stuart: i don't know if something happened. susan: lighthizer is talking about being far apart on nafta negotiations. with to meeting reform. stuart: that's it. lighthizer said? lighthizer saying the wto noding reforms. china doesn't work with the current rules. they are far apart with canada negotiating a trade deal. stuart: awe, far apart with canada negotiating a trade deal.
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the president will not have time to meet with justin trudeau at the united nations. that says a lot. the president is in the chamber, mounting the stairs. he will be at podium. we'll hear what he has to say. >> i have the honor to -- stuart: he sits in the chair to be introduced. let's listen. >> president of the united states of america and to invite him to address the assembly. you have the floor, sir. >> madam president, mr. secretary-general,. stuart: world leaders, ambassadors and distinguished delegates, one year ago i stood before you for the first time in this grand hall. i addressed the threats facing our world and i presented a
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vision to achieve a brighter future for all of hunanty. -- humanity. today i stand before the united nations general assembly to share the extraordinary progress we've made. in less than two years my administration has accomplished more than almost any administration in the history of our country. america -- so true. didn't expect that reaction but that is okay. [laughter] [applause] america's economy is booming like never before. since my election we've added $10 trillion in wealth. the stock market is at an all-time high in history, and jobless claims are at a 50-year
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low. african-american, hispanic-american, and asian-american unemployment have all achieved their lowest levels ever recorded. we've added more than four million new jobs including half a million manufacturing jobs. we passed the biggest tax cuts and reforms in american history. we've started the construction of a major border wall and we greatly strengthened border security. we secured record funding for our military. $700 billion this year and $716 billion next year. our military will soon be more powerful than it has ever been before. in or the words the united states is stronger safer and a richer country than it was when i assumed office less than two
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years ago. we are standing up for america and for the american people and we are also standing up for the world. this is great news for our citizens and for peace-loving people everywhere. we believe that when nations respect the rights of their neighbors and defend the interests of their people they can better work together to secure the blessings of safety, prosperity and peace. each of us here today is the emissary of a distinct culture, a rich history, and a people bound together by ties of memory, tradition and values that make our homelands like nowhere else on earth. that is why america will always choose independence and cooperation over global
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governance, control and domination. i honor the right of every nation in this room to pursue its own customs, beliefs and tradition. the united states will not tell you how to live or work or worship. we only ask that you honor our sovereignty in return. from warsaw to brussels, to tokyo, to singapore it has been my highest honor to represent the united states abroad. i have forged close relationships and friendships and strong partnerships with the leaders of many nations in this room and our approach has always yielded incredittable change. with support from many countries here today we have engaged with north korea to replace the specter of conflict with a bold and new push for peace.
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in june i traveled to singapore to meet face-to-face with north korea's leader, chairman kim jong-un. we had highly productive conversations and meetings and we agreed that it was in both countries interests to pursue the denuclearization of the korean peninsula. since that meeting we have already seen a number of encouraging measures that few could have imagined only a short time ago. the missiles and rockets are no longer flying in every direction. nuclear testing has stopped, some military facilities are already being dismantled. our hostages have been released, and as promised the remains of our fallen heroes are being returned hope to lay at rest in american soil. i would like to thank chairman kim for his courage and for the
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steps he has taken though much work remains to be done. the sanctions will stay in place until denuclearization occurs. i also want to thank the many member-states who helped us reach this moment, a moment that is actually far greater than people would understand, far greater. but for also their support and the critical support that we will all need going forward. special thanks to president moon of south korea, prime minister abe of japan, and president xi of china. in the middle east our new approach is also yielding great strides and very historic change. following my trip to saudi arabia last year the gulf
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countries opened a new center to target terrorist financing. they are enforcing new sanctions, working with us to identify and track terrorist networks and taking more responsibility for fighting terrorism and extremism in their own region. the u.a.e., saudi arabia, and qatar have pledged billions of dollars to aid the people of syria and yemen and they are pursuing multiple avenues to ending yemen's horrible, horrific civil war. ultimately it is up to the nations of the region to decide what kind of future they want for themselves and their children. for that reason the united states is working with the gulf corporation council, jordan, and
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egypt, to establish a regional strategic alliance so middle-eastern nations can advance prosperity, stability and security across their home region. thanks to the united states militariry and our partnership with many of your nations i am pleased to report that the blood-thirsty killers known as isis have been driven out from the territory they once held in iraq and syria. we will continue to work with friends and allies to deny radical islamic terrorists any funding, territory or support or any means of infiltrating our borders. the on going tragedy in syria is heart-breaking. our shared goals must be the de-escalation of military conflict along with a political
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solution that honors the will of the syrian people. in this vein we urge the united nations-led peace process be invigorated but rest assured the united states will respond if chemical weapons are deployed by the assad regime. i commend the people of jordan and other neighboring countries for hosting refugees from this very brutal civil war. as we see in jordan the most compassionate policy is to place refugees as close to their homes as possible. to ease their eventual return to be part of the rebuilding process. this approach also stretches finite resources to help far more people increasing the impact of every dollar spent.
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every solution to the humanitarian crisis in syria must also include a strategy to address the brutal regime that is fueled and financed it. corrupt dictatorship in iran. iran's leaders, sow chaos, death and destruction. they do not respect their neighbors or borders, or the sovereign rights of nations. instead iran's leaders plunder the nation's resources to enrich themselves and to spread mayhem across the middle east and far beyond. the iranian people are rightly outraged that their leaders have embezzled billions of dollars from iran's treasury, seized
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valuable portions of the economy, and looted the people's religious endowments, all to line their own pockets and send their proxies to wage war. not good. iran's neighbors have paid a heavy toll for the region's agenda of aggression and expansion. that is why so many countries in the middle east strongly supported my decision to withdraw the united states from the horrible 2015 iran nuclear deal and reimpose nuclear sanctions. the iran deal was a windfall for iran's leaders n the years since the deal was reached, iran's military budget grew nearly 40%. the dictatorship used the funds to build nuclear-capable
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missiles, increase internal repression, finance terrorism and fund havoc and slaughter in syria and yemen. the united states has lawn of ad a campaign of economic pressure to deny the regime the funds it needs to advance its bloody agenda. last month we began reimposing hard-hitting nuclear sanctions that had been lifted under the iran deal. additional sanctions will resume november 5th and more will follow. and we are working with countries that import iranian crude oil to cut their purchases substantially. we cannot allow the world's leading sponsor of terrorism to possess the planet's most dangerous weapons. we cannot allow a regime that
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chants "death to america," and threatens israel with annihilation, to possess the means to deliver a nuclear warhead to any city on earth. just can't do it. we ask all nations to isolate iran's regime as long as its aggression continues and we ask all nations to support iran's people as they struggle to reclaim their religious and righteous destiny. this year we also took another significant step forward in the middle east. in recognition of every sovereign state, to determine its own capital, i moved the u.s. embassy in israel to jerusalem. the united states is committed to a future of peace and stability in the region,
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including peace between the israelis and the palestinians. that aim is advanced, not harmed, by acknowledging the obvious facts. america's policy of principled realism means we will not be held hostage to old dogmas, discredited ideologies, and so-called experts who have been proven wrong over the years time and time again. this is true not only in matters of peace but in matters of prosperity. we believe that trade must be fair and reciprocal. the united states will not be taken advantage of any longer. for decades the united states opened its economy, the largest
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by far on earth with few conditions. we allowed foreign goods from all over the world to flow freely across our borders, yet, other countries did not grant us fair and reciprocal access to their markets in return. even worse some countries abused their openness to dump their products subsidize their goods, target our industries and manipulate their currencies to gain unfair advantage over our country. as a result our trade deficit ballooned to nearly $800 billion a year. for this reason we are systematically renegotiating broken and bad trade deals. s last month we announced a
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groundbreaking u.s. mexico trade agreement, and just yesterday i stood with president moon to announce the successful completion of the brand new u.s.-korea trade deal. and this is just the beginning. many nations in this hall will agree that the world trading system is in dire need of change. for example, countries were admitted to the world trade organization that violate every single principle on which the organization is based while the united states and many other nations play by the rules these countries use government-run industrial planning and state-owned enterprises to rig the system in their favor. they engage in relentless product dumping, forced
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technology transfers and the theft of intellectual property. the united states lost over 3 million manufacturing jobs, nearly a quarter of all steel jobs and 60,000 factories after china joined the wto. and we have racked up $13 trillion in trade deficits over the last two decades but those days are over. we will no longer tolerate such abuse. we will not allow our workers to be victimized, our companies to be cheated, and our wealth to be plundered and transferred. america will never apologize for protecting its citizens. the united states has just announced tariffs on another
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$200 billion in chinese-made goods, for a total so far of $250 billion. i have great respect and affection for my friend president xi but i have made clear our trade imbalance is just not acceptable. china's market distortions and the way they deal cannot be tolerated. as my administration has demonstrated america will always act in our national interests. i spoke before this body last year and warned that the u.n. human rights council had become a grave embarassment to this institution shielding egregious human rights abuse erstwhile bashing america and its many friends.
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our ambassador to the united nations, nikki haley, laid out a clear agenda for reform but despite reported and repeated warnings no action at all was taken. so the united states took the only responsible course. we withdrew from the human rights council and we will not return until real reform is enacted. for similar reasons the united states will provide no support in recognition to the international criminal court. as far as america is concerned the icc has no jurisdiction, no legitimacy, and no authority. the icc claims near universal jurisdiction over the citizens of every country, violating all principles of justice, fairness and due process.
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we will never surrender america's sovereignty to an unelected, unaccountable, global bureaucracy. america is governed by americans. we reject the ideology of globalism and we embrace the doctrine of patriotism. around the world responsible nations must defend against threats to sovereignty, not just from global governments but also from other new forms of coercion and domination. in america we believe strongly in energy security for ourselves and for our allies. we have become the largest energy producer anywhere on the face of the earth. the united states stands ready to export our abundant,
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affordable supply of oil, clean coal, and natural gas. opec and opec nations are as usual ripping off the rest of the world and i don't like it. nobody should like it. we defend many of these nations for nothing and then they take advantage of us by giving us high oil prices. not good. we want them to stop raising prizes. we want them to start lowering prices and they must contribute substantially to military protection from now on. we are not going to put up with it, these horrible prices much longer. reliance on a single foreign supplier can leave a nation
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vulnerable to extortion and intimidation. that is why we congratulate european states such as poland, for leading the construction of a baltic pipeline so that nations are not dependent on russia to meet their energy needs. germany will become totally dependent on russian energy if it does not immediately change course. here in the western hemisphere we are committed to maintaining our independence from the encroachment of expansionist foreign powers. it has been the formal policy of our countries since president monroe that we reject the interference of foreign nations in this hemisphere and in our own affairs. the united states has recently
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strengthened our laws, to better screen foreign investments in our country for national security threats. and we welcome cooperation with countries in this region and around the world that wish to do the same. you need to do it for your own protection. the united states is also working with partners in latin america to confront threats to sovereignty from uncontrolled migration. tolerance for human struggling and human smuggling and trafficking is not humane. it is a horrible thing that's going on at levels that nobody has ever seen before. it is very, very cruel. illegal immigration funds
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criminal networks, ruthless gangs, and the flow of deadly drugs. illegal immigration exploits vulnerable populations, hurts hard-working citizens and has produced a vicious cycle of crime, violence and poverty. only by upholding national borders, destroying criminal gangs, can we break this cycle and establish a real foundation for prosperity. we recognize the right of every nation in this room to set its own immigration policy in accordance with its national interests just as we ask other countries to respect our own right to do the same which we are doing. that is one reason the united states will not participate in the new global compact on migration. migration should not be governed by an international body
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unaccountable to our own citizens. ultimately the only long-term solution to the migration crisis is to help people build their hopeful futures in their home countries. make their countries great again currently we are witnessing a human tragedy as an example in venezuela. more than two million people have fled the anguish inflicted by the socialist maduro regime and its cuban sponsors. not long ago venezuela was one of the richest countries on earth. today socialism has bankrupted the oil-rich nation and driven its people into abject poverty.
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virtually everywhere socialism or communism has been tried, it has produced suffering, corruption and decay. socialism's thirst for power leads to expansion, incursion and oppression. all nations of the world should resist socialism and the misery that it brings to everyone. and that spirit we ask the nations gathered here to join us in calling for the restoration of democracy in venezuela. today we're announcing additional sanctions against the repressive regime, targeting maduro's inner circle and close advisors. we are grateful for all the work that the united nations does around the world to help people build better lives for
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themselves and their families. the united states is the world's largest giver in the world by far of foreign aid but few give anything to us. that is why we are taking a hard look at u.s. foreign assistance. that will be headed up by secretary of state mike pompeo. we will examine what is working, what is not working and whether the countries who receive our dollars and our protection also have our interests at heart. moving forward we are only going to give foreign aid to those who respect us and frankly are our friends. and we expect other countries to pay their fair share for the
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cost of their defense. the united states is committed to making the united nations more effective and accountable. i have said many times that the united nations has unlimited potential. as part of our reform effort i have told our negotiators that the united states will not pay more than 25% of the u.n. peacekeeping budget. this will encourage other countries to step up, get involved, and also share in this very large burden. we are working to shift more of our funding from assessed contributions to voluntary, so that we can target american resources to the programs with the best record of success. only when each of us does our part and contributes our share
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can we realize the u.n.'s highest aspirations. we must pursue peace without fear, hope without despair and security without apology. looking around this hall where so much history has transpired we think of the many before us who have come here to address the challenges of their nations and of their types and our thoughts turn to the same question that ran through all of their speeches and resolutions, through every word and every hope. it is the question of what kind of world will we leave for our children and what kind of nations will they inherit? the dreams that fill this hall
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today are as diverse as the people who have stood at this podium, and as varied as the countries represented right here in this body are. it really is something. it is really, great, great history. there is india, a free society over a billion people. successfully lifting countless millions out of poverty and into the middle class. there is saudi arabia where king salman and the crown prince are pursuing bold new reforms. there is israel proudly celebrating its 70th anniversaries as a thriving democracy in the holy land. in poland the great people are standing up for their independence, their security, and their sovereignty. many countries are pursuing
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their own unique visions. building their own hopeful futures. and chasing their own wonderful dreams of destiny, of legacy, and of a home. the whole world is richer. humanity is better, because of this beautiful constellation of nations, each very special, very, very unique, and each shining brightly in its part of the world. in each one we see awesome promise of a people bound together by a shared past and working toward a common future. as for americans we know what kind of future we want for ourselves. we know what kind of a nation america must always be. in america we believe in the
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majesty of freedom and the dignity of the individual. we believe in self-government and the rule of law. and we prize the culture that sustains our liberty, a culture built on strong families, deep faith, and fierce independence. we celebrate our heroes, we treasure our traditions and above all, we love our country. inside everyone in this great chamber today, and everyone listening all around the globe there is the heart of a patriot that feels the same powerful love for your nation, the same intense loyalty to your homeland. the passion that burns in the hearts of patriots and the souls of nations has inspired reform
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and revolution, sacrifice and self-lessness, scientific break throughs, and magnificent works of art. our task is not to erase it, but to embrace it, to build with it, to draw on its ancient wisdom and to find within it the will to make our nations greater, our region safer, and the world better. to unleash this incredible potential in our people, we must defend the foundations that make it all possible. sovereign and independent nations are the only vehicle where freedom has ever survived. democracy has ever endureed, where peace has ever prospered.
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and so we must protect our sovereignty and our cherished independence above all. when we do, we will find new avenues for cooperation, unfolding before us. we will find new passion for peace making, rising within us. we will find new purpose, new resolve, and new spirit flourishing all around us. and making this a more beautiful world in which to live. so together let us choose a future of patriotism, prosperity and pride. let us choose peace and freedom over domination and defeat. and let us come here to this place, to stand for our people and their nations. forever strong, forever
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sovereign. forever just. and forever thankful for the grace and the goodness and the glory of god. thankthank you, god bless you ad bless the nations of the world. thank you very much. [applause] thank you. >> on behalf of the general assembly i wish -- stuart: major areas of discussion from president trump in all three areas, he took a hard-line. no retreat. first of all on china trade, the president said america's been ripped off for decades. we've let others sell freely here while erecting barriers to our products there. he said that china had violated world trade organization rules, stolen intellectual property, forced the transfer of technology and he said those
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days are over. that was the president on china trade. on iran the president was equally strong. he said, there is a corrupt dictatorship in iran. liters there have plundered the resources of the country to enrich themselves and spread mayhem all around the world. item three on immigration, the president said that open borders and illegal immigration hurts everyone. we must uphold national borders. all nations have the right to their own immigration policies. ash? ashley: he also had a very strong message of sovereign rights. rejecting the idea of globalism. rejecting the idea of a independent panel, whoever is selected by whom, to say over lives of individual people in individual countries to have a say over the lives of americans. he rejected that entirely. that is a strong message. susan: oil producers pulling back a little bit, talking about opec and opec nations per usual
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he says ripping off the rest of the world. he wants opec nations to stop raising prices. stuart: it was strong stuff all the way through, it was. nigel farage with us now, a member about european parliament. i'm sure you heard what the president had to say. one of the centerpieces was immigration and the need to uphold national borders. that is your line, nigel. >> oh, absolutely look as somebody spent 25 years fighting for national control over immigration and fighting battle of individual nation-state sovereigncy against global bureaucracy i have to tell you this speech was music to my ears. in years to come anybody ever asks you what was trump's political philosophy, all of it was there in that speech. stuart: he also had a warning for europe, germany in particular i think, don't be dependent on one source for your energy. that would be russia. you got to diversify. am i right saying saying that ad
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squarely at germany. >> donald trump may have well colluded with russia, actually it is germany made themselves wholly reliant for 60% of their energy needs on one country, which is perhaps why the germans only expelled three diplomats in the wake of the poisoning compared to the 60 that america did. stuart: you like what the president had to say but what about other europeans? i can't imagine that they will be very happy with president trump? >> well, no. the big flashpoint is going to be iran. now on the very day that trump lays out before the u.n., you know, all of his criticisms of iran, of their sponsorship of terrorism, of all the terrible things that they have done, this very morning mrs. morgani unelected of course, foreign minister of the european union, she has been saying that they will, the european commission will facilitate better trade
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with iran. so this is the big dividing line between the european union and between america and trump laid his position out there very clearly indeed. stuart: you liked it? you really liked it. i mean you really, really liked it? >> i did, i did and you know, socialists will hate it, globalists will hate it, unelected bureaucrats will hate it. but i promise you this, conservatives and people that believe in the nation-state all over the western world will say to themselves, this was the best and many ways the most dignified the speech the president has given. stuart: hold on one second, nigel. i want to play for our audience a short sound bite from the president where he is talking about immigration. roll tape, please. >> migration should not be governed by an international body unaccountable to our own citizens. ultimately the only long-term
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solution to the migration crisis is to help people build more hopeful futures in their home countries. make their countries great again. stuart: nigel the president said we, america, will not join this global compact on migration. frankly, sir, that is the first i have heard of it. what is that all about? >> oh, yes, the u.n. had global compact on migration, basically we should say all accept our fair share, some sort of bureaucrat-derived quota of migrants from syria, middle east or wherever else it may be. what you've seen right across the west are the left of politics. what a wonderful idea, isn't great the u.n. will decide our immigration policy. i think what president trump did today was torpedo it buy low the water line and quite right to. the whole speech, the whole speech was saying, look,
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democracy works, the nation-state works, freedomworks, free markets works, that doesn't mean we're turning our backs on the rest of the world, of course we're not but we want a world which we respect differences between our countries rather than pretending we could be governed by one body run by bureaucrats. that is the theme that ran through the whole of that speech. hey, as i said earlier, i fight for this my entire adult life. the whole thing was really a joy for me to listen to. stuart: a happy man indeed. we like happiness on this program. nigel farage, thank you very much, sir. we'll see you again soon. by the way when the president started to speak at the u.n., the dow industrials were up seven points. we drifted to a loss of 20 points. now we bounced back up again, up 17 points. i would say basically that speech had very little impact on the overall stock market. economist peter morici with us right now. i always think you are an expert
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on china trade, you are on that issue and subject for many, many years. just to remind our viewers the president took a very hard-line on china trade, said look, they have been ripping us off. they dumped on us. they targeted our industries. they have stolen our intellectual property, forced the transfer of technology. he says those days are over. i think you approve of this hard-line, peter, right? >> absolutely. the days of appeasement are over, that is clearly the message. continental europeans want to continue to appease and frankly continue to believe germany is not a problem. we don't choose to do that with respect of our germany which is china. so many other dimensions china is a problem. this is basically, do you remember john kennedy talking about americans will pay any price, go any distance, and so forth to defend freedom? what donald trump is saying america will draw the line in a similar way. we want to be in a global
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community where people treat each other fairly, but if we're not, we'll not predenned the problems don't exist. barack obama complained vehemently about china's economic aggression but backed down. he drew a red line there just as he drew one in syria. this is a different president. unfortunately at home people find that discomforting. you know something, people oppose him at home are the very types of bureaucrats that are at the u.n. that you see over in the united states senate. they're basically people who live off of dead people's money. who never, other people's money, who never really do any real work. who is civil society but people who basically get grants from the ford foundation to denigrate capitalism? this is the anti-thesis to that. they view him as the antichrist. heck, he is our messiah. they're the devil. stuart: peter, i hate to interrupt a rant. >> it is not a rant. stuart: stay there, please. i want more from you, i want to
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bring in david ruben. david is our voice of israel, a voice from israel, i should say and he joins us now. david, the president was hard-line on iran. he says there is a corrupt dictatorship in iran. their leaders have plundered their own resources to enrich themselves and spread mayhem around the world. you must have liked this speech? >> well, trump is a leader. it really sent a message that yes, the united states cares about all countries and but the united states will lead, and that is the message from president trump. the united states will lead. the united states will fight countries that are creating mayhem in the world. but the united states will stand for the united states and the principles that it stands on, the principles on which it is based. stuart: david, hold on for a second, i want to remind our viewers of what the president
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said about iran. they may have missed it. let me repeat this. roll tape please. >> we cannot allow a regime that chants "death to america" and that threatens israel with nile ages to poe test the means to -- possess the means to deliver a nuclear warhead to any city on earth. just can't do it. stuart: was that a threat, david? i mean he said look, we're not going to tolerate this. is that a threat? >> well i don't think it is anything new, stuart. president trump has been clear for a very long time that the, that iran is not going to be allowed to create a nuclear bomb. he said it before he was elected and he is standing by it. people need to understand, that this is a president that stands by his promises. okay? he made promises standing with
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america's allies, to standing against america's ennis and creating peace where there is possibility for peace, such as with north korea and, he is well on the way towards that. as far as iran goes he made it very clear you can have the carrot but you also have to have the stick. under president obama, there were multiple carrots and no stick. but with president trump you have both the carrot and the stick and he is making it very clear that he is prepared to use that stick. stuart: david ruben as always, thanks very much for joining us, sir. we appreciate it. thank you very much. >> you're welcome. stuart: another big story we're following, president trump set to meet with deputy attorney general rod rosenstein. judge napolitano is on that shortly. i want to know what happens to the russia investigation if
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rosenstein resigns or is fired. we have much more on the president's speech. he took a hard-line on trade. we'll talk to one of the president's advisors. what does he think about the president's comments? >> for decades the united states opened its economy, the largest by far on earth with few conditions. we allowed foreign goods from all over the world to flow freely across our borders. yet, other countries did not grant us fair and reciprocal access to their markets in return
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>> let me tell you that when the president began speaking at the united nations, the dow is up seven point. it has come back to a +31 point in other words, the president's speech, hard line as it was, was not having much effect on wall street. come on in, former tron campaign trade advisor curtis ellis. the president took a very strong line directly at china. you approve? >> absolutely. this is why we love president trump.
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this was pure, 180 proof truth telling. he dispensed with all of the illusions. all of the make-believe. he called out china for violating every role that it signed on to when i joined the world trade organization. dumping technology transfer. he took another veiled shot at china without mentioning them by name when he said other countries have to be careful of other forms of domination. i believe that was availed reference to the one belt, one road initiative. we have countries around the world, particularly east asia and south asia that are finding china investing in this one belt one road but really holding them hostage. this is an opportunity for the united states to call them out. again, latin america. china's influence is growing there and he made a reference to that. >>stuart: curtis, what do you think would be china's response
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to this speech? she was obviously watching. i'm sure they were watching in beijing. what you think the reaction would be? >> it's very laughable. they're trying to portray themselves as the defender of the trading system when they're violating every precept of that system. they better back down. it's time for china to say look, we joined the big boys club. we will act like big boys. we don't need to be treated like the weak sister and be given special exemptions and subsidize our industries and everybody will make-believe were not doing it. they should just acknowledge what they're doing and like the u.s. impose - - when they're doing illegal subsidies. that should be the reaction. >>stuart: curtis, thank you for joining us this morning.i know it's short but it's a jampacked show. >> great show today. >>stuart: wasn't bad, was it? peter still with us. the economist.
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let me draw your attention to the very first remarks the president said at his speech today at the united nations. he said, we have accomplished, his administration has accomplished more in the last two years than any other administration in history. i believe those were his precise words. at which point the audience laughed. what you make of that? >> i think they recognize he was speaking a bit to his domestic audience with the midterm election coming up. that really didn't fit in an international speech. the way much of the rest didn't fit in. there was a lot new. in reality, what he did was string the beads into a coherent and understandable message. it was really the trump doctrine laid out. it was the most coherent foreign policy speech. it was a remarkable speech. >>stuart: what about his views on the economy? thing with a compass more than
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any other administration but that is a little hyperbole, is it not? >> we were told we were in the permanent two percent growth mold. the obama folks couldn't even accomplish that now he's accomplished 50 percent better. if we are told by the people who support global governance and civil society, basically support importing euro socialism that this is no more can be accomplished. and you break through that glass ceiling of two percent in a fundamental and salutary way, then i guess you've accomplished something that no other president has accomplished. you've basically proven that the democratic standardbearer in the form of barack obama was absolutely wrong. >>stuart: he did bash socialism and applied it to venezuela. as he was talking about venezuela, the camera was on the venezuelan delegate in the assembly. he appeared to be smiling. no idea why. >> the venezuelan delegates are
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in a tough position. we really don't know what he thinks. if he opposes his governmentand go goes home, he faces a dark future. he probably doesn't want to apply for political asylum. we don't know what's going on in his head. on the other hand, he could be in total disbelief and that's why he's smiling.all we know is that folks like cortez in new york who think socialism is a great package. ought to ask themselves, what i want to raise my children in venezuela? >>stuart: i misunderstood what you said at the end there. >> i said people like ms. cortez in new york we think socialism is a great deal ought to ask themselves, what i want to raise my children or grandchildren in venezuela? >>stuart: good one. good point. peter, thank you for being here today. an important performance today. you are all right.
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i'm going to change course right now. there is big news out of the z. deputy attorney general rod rosenstein will meet with president trump later this week. i think we knew that already but that is the big news in pure politics of this week. - - is here. if rosenstein is out, what happens to the mother probe? >> i don't think anything happens. robert mueller and his team appear to be so deep into so many investigations, that any interference itself could be considered obstruction of justice. now, could rosenstein successor affected in subtle ways?yes, he determines their budget. he determines whether they can exceed their already expanded mandate. but i don't think he would interfere with investigations that are going on. the other news about rosenstei
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, is that the house of representatives appears poised to subpoena him. ask him to explain under oath whether or not he actually - - if he doesn't answer, guess what they're threatening to do? impeach him. the constitution strictly limits impeachment to high crimes and misdemeanors of which contempt of congress is not one. >>stuart: but they do want him to appear before congress under oath. >> meadows repeated that this morning. - - said it yesterday. jim jordan who was involved said it over the weekend. so the republicans are pretty determined to get him under oath explaining this conversation. after he explained it to the president on thursday. >>stuart: the point is, what was he doing in that meeting? was that a deep state meeting? to organize the cobol?
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>> he says three of the five people at the meeting say the statement was sarcastic. three say it was sarcastic bid the forcesit wasn't for casting is one that leaked it to the new york times. andrew mccabe . who the justice department is investigating for perjury. so where is this going to go? >>stuart: so rosenstein meet with the president thursday. >> at the same time that judge brett kavanaugh and doctor ford are testifying. one wonders if it's an attempt to divert our attention from a riveting confrontation on capitol hill. >>stuart: that's a stretch, isn't it? nothing is going to diver our attention from the hearings on capitol hill. >> except the look on rod rosenstein's face when he comes out of the white house and gets into that black suv. >>stuart: that will be the money shot.
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>> if he's fired on the spot, he won't be taking the suv. he'll be looking for a taxi. >>stuart: my opinion is he will not be fired. >> he will give the democrats another instrument with which to torment him. [laughter] that's a conversation for another time. he doesn't want to give them more ammo than they already have. >>stuart: got it. what a day. judge brett kavanaugh denying the sexual assault allegations against him in an exclusive interview with fox news. senator mitch mcconnell says the vote will happen. coming up next, rnc spokesperson - - i want to know if ambush and delay is still the democrats game plan. i'm sure she will say yes.
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two big stories today. president trump speaks the un and stocks have regained their losses. in a moment, the president will have lunch with the secretary general of the un but first, listen to what he had to say about north korea. >> our approach has always yielded incredible change. the support from many countries here today, we have engaged with north korea to replace the specter of conflict with a bold and new push for peace. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at >> i am live from the floor of
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the new york stock exchange in the latest chapter of the fight between qualcomm and apple. qualcomm says apple stole its ship secrets and gave it to intel. they used to be partners and now they're embroiled in more than 70 lawsuits and counter lawsuits, globally. a filing today with the superior court of california, qualcomm's lawyers want to add these new allegations to the current lawsuits against apple. at one point in time, they used qualcomm design for chips to connect iphones to networks. now apple uses intel and that's part of the rift. qualcomm says apple gave it secrets to intel so that their hardware would be fine-tuned and help the performance of its chip and the new iphone. so far, qualcomm has not been successful in communicating its
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points in court.
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>> 26,000 594. the 10 year treasury is up 3.10 percent. that is not hurting the market this morning. amazon could be getting into the jewelry business. it filed a trademark for, for keeps with amazon. amazon says this will be used for online jewelry sales. amazon is up 16 bucks at $19.50. michael kors will buy versace.
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i call this the odd couple. i don't get it but susan, i will try to understand. supreme court nominee brett kavanaugh denying the sexual assault charges against him. bold tape. >> i'm not going to let false accusations drive us out of this process. we are looking for fair process. i can be heard defending my integrity and my lifelong record of promoting dignity and equality for women. i'm not going anywhere. >>stuart: joining us now is rnc spokesperson, katie mcinerney. i'm reading a headline from the "washington post" point white house open to public testimony from second accuser. that would be deborah ramirez. that's according to sarah huckabee sanders. what do you make of that?
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>> the white house has been clear that at least with ms. ford, they would allow her to testify. as for the second, i think they're open to it but they are unmistakably clear they want to see this process move forward. they believe brett kavanaugh's name has been smeared. they want us to move forward speedily. >>stuart: because ms. ramirez has very little credibility. no witnesses. she admits to being drunk at the time of the incident. it may be to judge brett kavanaugh's advantage to have her giving testimony before the judiciary committee. >> that's a good point and that could absolutely be the case. what's so striking to me with ramirez in particular, for 35 years, she was unable to identify brett kavanaugh as the person who engaged in this activity. only after six days of talking to a lawyer is that she came to this conclusion. >>stuart: she was used. >> as ford has been used. >>stuart: to some degree, that would be true. >> she wanted to be anonymous. >>stuart: she wrote that letter originally trying to bring to
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the president, to president trump's attention this charge against brett kavanaugh.but it didn't go to president trump, it went to a democrat in california who sat on it and brought it out at the last minute. >> as mitch mcconnell said yesterday, this could have worked differentlywe could have maintained her an anonymity. democrat weren't interested in that because it was a political ploy. >>stuart: i'm going to throw something at youthat is just wonderful for you. red meat. here you go. a gallup poll shows 45 percent of americans now have a favorable view of the republican party , that is up nine points from september of last year. the best recording in seven years. but that goes against all of the polling be seen recently. >> it goes against everything. as i've said and has been noted to me in background conversations with our
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pollsters. the hidden trumpet voter is real. they don't like to talk to pollsters. this is an encouraging sign that maybe they feel like they can come out. the economy is so good. who doesn't want to be affiliated with this economy and president trump? >>stuart: but polls were wrong in 2016. they underestimated trump support because people weren't like to say i'ma trumpet trump . >> the day after the election, ask trump voters were you willing to talk to pollsters. 37 percent said, no. that is the hidden voter found by a hidden poll. >>stuart: are you grasping at straws before the november election? >> i am trying to be optimistic but history is against us and we have a big uphill fight. >>stuart: you're looking good in that particular poll. thank you for joining us this morning. >> thank you stewart. >>stuart: tesla faces quote, an extreme shortage of car carrier
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trailers to deliver model three sedans. that's according to elon musk. shares just at $300 a share. nike will report profit after the close of trading today. it's moving up a little bit in advance of the numbers. 84 bucks a share on nike. the price of oil this morning is at $72 per barrel. sanctions on iranian oil are about to be imposed very soon. that's why crude has gone 272 bucks per barrel. it's going to go up. that would be my suggestion. hear something president trump did not mention to the un. climate change. nothing on the paris climate deal either. next, one of the worlds top environmentalists. what's with that? nothing about climate change at the un? i can't believe it. i get it all the time.
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xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. president trump touched on a
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lot of subjects, but he did not have a single mention, not a word about climate change. - - blumberg is with us, a well-known environmental
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activist and frequent guest of this program. welcome back to the show >> to be here. >>stuart: how do you explain this. not a single mention. >> president trump's gig is to say this is not a big issue. but if you ask people across the world, what do you really care about? they tell you it's about health, education, non-corruption, food. of 16 things that 10 million people can vote, they put climate change at the bottom. not because it's not real but simply because it's one of the least effective ways to help people. >>stuart: want to ask you about your point of view which is hurricane florence which ravaged the carolinas in america recently. you say that was not caused by climate change. global warming point make the case. >> global warming is real but were often being told, the un climate panel.
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the premier resource for climate information says we can't see this evidence yet. we can't see over the last 118 years that there's been an increase. if you look at landfalling hurricanes which is the best data source we have has been declining frequency. since 1900. also of strong hurricanes. now, in the long run, we probably believe global warming will lead to slightly fewer but stronger hurricanes. so there is an issue. >>stuart: the "washington post", a newspaper in the united states. a leading newspaper, they came out stronger. it was an op-ed i think. the storm, florence, was made into a monster storm by climate change. in other words, climate change added to the already nastiness of the storm. is that an argument worth pursuing?>> the problem is, if you look at the number of strong hurricanes, they been declining, not increasing. the point here is you need to be honest and say, in the long run, global warming will
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slightly increase damage. but, the way we try to tackle it is an incredibly an effective way. >>stuart: is your basic premise wrong? if your basic premise is that there is indeed climate change, it is happening in its human caused. where's the results of this? if you're saying were not getting more hurricanes. is your basic premise wrong? >> this is as many other things when you're talking about the future, run and models. what we can see is in the long run, the probably will be fewer but stronger there is an issue here. firstly, people will say, anything latched onto what's happening right now when the data says you can't say this right now. the second thing is they are sang, let's switch to solar and wind. the problem is, that's an incredibly expensive way for doing very little good. if you want to deal with climate change, research and a lot more of green energy.
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then china and india will switch. not because we have lots of carbon taxes but because we much better technology. >>stuart: you first appeared on the show several years ago when european environmentalist had really taken umbrage at you. are they still mad at you? >> i think a lot of people are annoyed because i keep saying, this is not the most effective way of dealing with global warming. >>stuart: there will be more than what is but first, listen to what president trump said about sovereignty during his un speech. roll that tape please. >> each of us here today is the emissary of a distinct culture, a rich history, and the people bound together by ties of memory, tradition and the values that make our homelands like nowhere else on earth.
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. .
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stuart: got at least a minute to go in this show. i have to digress for a moment. i know you're looking a at united nations and the market but ashley tell me that the brits are watching a albino beluga whale swimming up the thames. >> it is a very rare white whale. it has its gps mixed up, it is going up the thames. that is not something you see every day. stuart: the producers of this show are aghast i digress. susan: beautiful pictures of the u.n. stuart: it is raining in new york and raining on the united nations there but the president just complete ad a speech which was a powerful foreign policy speech. susan: hard-line as they call it. stuart: well-said. it was hard-line on iran, it was hard-line on china and hard-line on sovereignty of nations.
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susan: globalism. rejects the idea. stuart: but market did nothing, virtually nothing at all. susan: oil stocks paring a little bit but not by much. stuart: we're up 25 points. that's where we are. neil, it is yours. neil: the president is not only making news on international front he comment the moments ago concerning the brett kavanaugh nomination, he doesn't like way democrats treating him there. but could be received by mixed emotions by the republicans and democrats. blake burman, latest what he said, how it is going down. reporter: remember when this started to come out a week or so ago, the official line of the white house on brett kavanaugh that dr. ford should not be insulted. that she should be able to go up on capitol hill and should testify and be heard. however since then there have been other allegations have been launched in the dir


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