Skip to main content
Internet Archive's 25th Anniversary Logo

tv   Varney Company  FOX Business  November 14, 2016 9:00am-12:01pm EST

9:00 am
>> go to work. maria: take your tests. >> i like the technology sector, money out of bond and deals happy. dagen: and godspeed leon russell and we were just listening to merle haggard. maria: we'll see you tomorrow. "varney & company" begins, stuart. stuart: let's get this going, shall we? america under new management. welcome to the growth economy and please, watch that market. good monday morning, everyone. 19,000 on the dow? we're only 150 points away. and stocks are moving up again as we speak. call this the trump rally. he's going for growth. and by the way, he's going for unity. the president-elect sounds like the voice of moderation, doesn't he? he's not keen on a special prosecutor for the clintons, he won't take a salary and fence on the border.
9:01 am
bottom line message, don't be afraid. reince priebus will be his chief of staff, he knows congress and will guide trump's policies through, and reassuring for investors. a phone call with china's president xi, and afterwards trump said they will have the strongest of relationships and leaders of canada and mexico okayed talks about nafta. how about this, the first meeting as president-elect with nig nig nigel farrage, europeans are mortified. the democrats are bitterly divided. far left congressman keith ellison is one name mentioned for replacement for disgraced dnc chair donna brazile and and
9:02 am
protesters want to delegitimize donald trump's presidency. and a week ago, hillary clinton was expected to be the next president. welcome to the trump era. "varney & company" is about to begin. ♪ ♪ when you're caught between the moon and new york city ♪ ♪ i know it's crazy, but it's true ♪ >> i couldn't believe i could speak already. let that song run on. look at the remarkable super moon. do you see it, guys? it's the largest moon since the year i was born, 1948. there's an omen right there, boys, i tell you. we'll not get another one like it until 2034. you'll have one more shot to see it tonight, and it will actually be bigger than it was last night. tonight is the night, folks. ashley: start howling. stuart: ah-ooh.
9:03 am
i should try to resist howling at the moon. in case you missed it, donald trump gave his first post election interview with 60 minutes. here are highlights. roll tape. >> i would tell them don't be afraid, absolutely. >> that's not what you're saying, i said it-- no, no, i'm saying it, don't be afraid and i say stop it. if it helps. i will say this, and i'll say it right to the cameras. stop it. >> are you going to take the salary, the president's salary. >> i've never commented on this, but the answer is no. i think i have to by law take $1 so i'll take $1 a year awe maybe win the election, obviously it didn't work, because we are here and they're not and i think my strongest asset is my temperament. i have a temperament where we win. stuart: we will, of course, have more on that throughout the day's program. first, trump announcing two of
9:04 am
his top appointees, on the far left, not politically, but on the left-hand side of the screen. rnc chair reince priebus, he'll serve as chief of staff and steve bannon chief strategist and counsellor. look who is back fresh from his victory, this is jeff dewitt. >> thanks, stuart, for me me. stuart: let me see if i've got it right about reince priebus. he knows congress. it seems that mr. trump will say, get them to give me a tax cut plan, a deregulation plan and obamacare plan and put it on my desk. >> it's very, very nice coming in for us, not having the political experience, to have someone like that, that knows congress, that can guide bills and measures through. stuart: that's what he's for. >> absolutely. stuart: he wants these three things and more from congress and he's going to tell reince priebus to get it.
9:05 am
>> and our campaign had a good relationship with the rnc, worked well with reince. stuart: in the end. >> they did a good job and-- >> a degree of unpleasantness, but sorted it out. >> they've been a pleasure to work with, even steve and reince, you can say they're different from each other, but they really coalesced as a team and if you look, certainly in the last few weeks, they traveled around with mr. trump together. stuart: and what's steve ban nongoing to do. chief strategist and chief counsellor. >> i think similar to what he was doing in the campaign. he's a very, very smart man. stuart: well, he spins the message, doesn't he? >> with the messaging, and some of the things that, you know, some of the different ways that we would go about getting some of our message across. he's a very creative guy. stuart: is he donald trump's valerie jarrett? >> he is a confidante. i would say he's very much in the circle, as reince. but mr. trump bounces ideas off all of us.
9:06 am
what people don't realize, he listens a lot. stuart: have you spent much time with him over the weekend. >> i've seen him. he's doing great. there's a lot of work to do, you guys must have gone out and partied the amazing thing is now, with the transition and everything, we have 70 days to basically get all the positions in place and start running government. there's a lot of work to do, so-- >> he's a very hard working guy. i think he said on 60 minutes, he doesn't take vacations. >> right. stuart: he's not going to do that. >> mr. trump is the most impressive individual in my life when it comes to work ethic. he works, he barely sleeps, he's go, go, go, very high energy and gets things done, which is what we need in washington. i don't expect it see him taking the vacations that his predecessor said. he's a worker and he can outwork a 25-year-old. stuart: let me offer congratulations, the first time or second time since the election. u were me a week ago you going to win, were you?
9:07 am
>> always felt like it, but every time i turned on the tv said we didn't have a shot. >> i was sure. stuart: i didn't think you were going to be win. to be honest with you, no, last monday i thought hillary clinton was going to be. >> i tell you this, secret sauce in the campaign. we really had a great ground game and had our act together. every time we turned on the tv, they didn't think we did. we didn't want to tell them, but we had a lot more going on than people gave us credit for. stuart: jeff dewitt, you sly dog. >> thank you. stuart: a record close for the dow. there you see it. it's the 11th of this calendar year, 18847. that means we're what, 152 points and change away from dow 19,000. we'll keep an eye on it for you today because we're going up at the opening bell. how about the price of oil. whoa. $42 a barrel now. that's interesting. oil down, but stocks keep going up.
9:08 am
and how about this one, too. the yield on the 10-year treasury is at 10.20%. that means that interest rates up, but stocks up as well. very unusual situation. oil down, stocks up, rates are up, stocks up. you don't see that that often. how about samsung? maybe they want to change the subject, but they're buying into the electronics company harmon international, $8 billion. samsung wants to get into the car business. harmon, of course, going straight up. let's get to the democrats. former clinton insider, doug schoen says the party, the democrats taking a hard left turn. watch this. >> i think this was a complete repudiation of the party that i belong to and now the party appears potentially to be moving further left, which i think is a profound mistake. stuart: well, there's some evidence for that. one of the leading candidates for the dnc chair is that gentleman on the left. that would be keith elseson,
9:09 am
congressman ellison. tammy bruce, congressman ellison is way out on the left. he's a socialist. he has the support of elizabeth warren, bernie sanders and amazingly, chuck schumer, senator schumer. >> there are issues and relationship with care and the dynamic, everything we haven't liked about about the democrats, the recognizing the enemy and radical islam. and somebody who needs to drop right now tim kaine. why not a tim kaine. it's interesting the extremism. stuart: he wasn't a wild success as a veep was he? >> there's no real great option for them. you don't have to go to the extreme left. a lot of people have left and that's why the independent is so important these days. you've got for the democrats the moderate normal people have left and what they're now trying to do is appeal to the more extreme elements.
9:10 am
this is going to be the death ne knell for the party. going further to the left means they'll lose more power and become irrelevant. stuart: that looks like where they're going. >> let us have the genuine democratic party, schriver and kennedy, where they had their finger on the pulse of the people. stuart: good luck with that. >> eventually, out of the ashes. stuart: i've got to bring this to our audience's attention. a powerful magnitude 7.8 earthquake hit new zealand over the weekend. damaged buildings, two dead. hundreds of aftershocks, some as large as 6.2. it's the largest quake since 2009, the one that wrecked christchurch. and donald trump meeting
9:11 am
face-to-face with nigel farrage. he led the brits. this is the first meeting since being elected, and it's farrage. europeans are apoplectic about this. and the chicago cop tweeted out a video. the spread that donald trump laid out at trump tower for the cops. another football player sitting out the anthem. buccaneers wide receiver evans says he'll protest until further notice because of trump's election and i believe he's going to walk into the-- yes, well he's not walking into the studio right now. that's him, willie robinson, duck dynasty guy. what's his take on the left's outrage over trump's big win. he's on the show in about two minutes. we'll be back.
9:12 am
when they thought they should westart saving for retirement.le then we asked some older people when they actually did start saving. this gap between when we should start saving and when we actually do is one of the reasons why too many of us aren't prepared for retirement. just start as early as you can. it's going to pay off in the future. if we all start saving a little more today, we'll all be better prepared tomorrow. prudential. bring your challenges.
9:13 am
9:14 am
9:15 am
>> look at this. that's a wildfire outside of los angeles. from moments ago. no, no, that's live now. sorry about that. that's live pictures, quite some fire which by the way just started. all right. despite calls for unity from both sides, many on the left are just apoplectic over the election of donald trump. they're attacking oprah, can you believe? oprah tweeted this, everybody take a deep breath. hope lives. they're being nasty to her in tweets thereafter. look who is here, willie robertson, the author of the new book "american fib fisherman" and from duck dynasty. i'm told that officers in new york city and in los angeles, the sons of daughters of the rich and their officers are
9:16 am
crying hysterically over this election. >> they're sad. stuart: sad? >> i've got messages, they're crying. there's no crying in politics. no, man. it's not going to change anything. we've got four years, so, i mean, it's a marathon, not a sprint, they need to-- >> it's pathetic, people in their 30's crying. they run a whole office and they're crying in public? >> that doesn't surprise me. i haven't cried over an election. stuart: you cried over an election? >> no. stuart: you've never cried period. >> no, i don't cry. i don't cry over an election. i cry sometimes, but certainly not over politics and elections and, yeah, they're sad and i'm sure because the media said there's no chance this was going to happen and it happened. so, they don't know how to deal with it and-- >> i want your reaction to the tampa bay, i think he's a wide
9:17 am
receiver name is mike evans. he sat out the national anthem to protest donald trump's election and listen to what he had to say afterwards. roll tape. >> i don't want to, you know, disrespect, you know, the veterans or anything, the men and women that serve this country. i've forever indebted to them, but the things going on in america lately, i'm not going to stand for that, you know, when ashton kutcher comes out and says we've been punked, i'll stand again, but i won't stand anymore. >> what do you say to that? he's going against what he just said. he doesn't want to disrespect, but he's disrespecting by what he's doing. aren't there other outlets besides the one thing right there? aren't there other outlets? you've got the social media and he's a professional athlete, he could use that in any other way, but yet, they choose this. i don't understand it. initially it was over that, now we're going to sit down because of who becomes elected president. so, it's just more divisiveness and this is not healthy.
9:18 am
stuart: it's not the time for nfl ratings on tv are not too good either. >> it affects it. it definitely affects things and when you watch teams and players and i just, i don't get why at that point in time is that where you want to make that statement? got to get a handle on it. stuart: i've got 60 seconds left. and i know that you've got-- is it a big announcement, a special announcement coming up? >> a new show duck dynasty coming out. season 11 and we're going to make a special announcement there and then we have a follow-up show, spin-off show going viral. all things internet. stuart: what's the special announcement? >> i'm not going to tell you the announcement, a big announcement from the robertson family. don't want to spoil it here on monday morning with you, stuart! . stuart: you make it-- >> you didn't pay me enough money to announce it. you've got to pad the hand and i'll give you a little more. come on now.
9:19 am
stuart: what's that book you've got? >> "american fisherman". stuart: now will you tell me? willie, you're all right and that's what we think. >> good to be here. stuart: all right. we're keeping an eye on the big tech names, they're down since the election. look at this, apple, amazon, facebook, big declines in those stock prices and microsoft, by the way, yes, i do own some. down 2% and google is down 5%, so what about today. here is where apple will open in about, what, 10 minutes' time. we're going to be opening slightly lower, and apple will be slightly lower, 107. how about amazon? where is that? that's going to be up a little bit, but still at 7:45, $100 below where it was a month ago. facebook will be virtually unchanged. microsoft, interest in that, up a few cents. and that's it, if that. and google will be almost dead flat. no big comeback this monday morning for the big tech.
9:20 am
and mea culpa from the new york times? what? can it be? dead set against the trump presidency now saying it's going to rededicate itself to honest journalism. we'll be back. what powers the digital world. communication. that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink.
9:21 am
9:22 am
9:23 am
>> the new york times has
9:24 am
issued its readers something of an apology over the paper's election coverage. here is how it reads in part. we aim to rededicate ourselves to the fundamental of times journalism, that is to report america and the world honestly without fear or favor. we believe we reported on both candidacy fairly during the presidential campaign. you can rely on the new york times to bring the same fairness, the same level of scrutiny, the same independence to our coverage of the new president. tammy bruce, it sounds like an apology and an mea culpa, are you reading it that way? >> not at all. from that bit that you read there, they're saying we were fine. we were fair and we're going to continue to be fair, but then why are they issuing this at all? they effectively blame donald trump. that was he so unconventional why we couldn't figure it out. so it's his fault and they ask questions, what forces and strains in america drove that divisive election, like maybe you? you had a part of this. this is a very strange approach
9:25 am
in that they knew they had to say something because they knew they threw the rule book out, but are blaming trump and points we were totally fair, we're rededicating ourselves to being creative. sure, they're writing fiction for a great deal of the time. this was not an mea culpa, it was an effort to address the fact they got caught without add mitteding anything and that's part of their problem. the new york times needs to go completely digital and get out of being a hard copy newspaper. stuart: maybe so, but the times helped deliver the democrats to just the coastal elites. that's all they've got left. i mean, one third of house democrats come from three states, california, new york, massachusetts. one third of the entire-- . they've lost them totally, completely. >> you look, nobody else is reading them, but the coasts and maybe they have an impact there, but they've become a regional party. the new york times has become a laughingstock and america is changing for good, i think. stuart: okay.
9:26 am
thank you, tammy. moments away from the opening bell, you know, we are on the dow jones average, that was the close on friday. that was a record close, where now, what, 152 points away from dow 19,000. and when that bell rings in a couple of minutes, we're going to go up another 50 or 60 points so you'll probably see 18-9 in the first few minutes of trading today. liz: really? >> can't wait. you'll see it live in three minutes.
9:27 am
9:28 am
9:29 am
9:30 am
>> here we go, it's almost there bang! 9:30 exactly. we're off and going up. the left-hand side of the screen, lots of green there. 35 points at 40 points in the early going. you might-- 48, we might hit 18-9 and we did. 18,900, there you have it. and most of the dow stocks are green and they're going up. how about the s&p 500, where is that? it's also up about .2%, not such a huge gain. the nasdaq composite. the technology companies, not such a huge gain either. up .1%. now look at oil, not making any waves in stocks this morning,
9:31 am
it's at $43 per barrel. ouch. how about the price of gold? where is that going? up or down? it's another 8 bucks. 1,215, my, that's come down. how about the 10-year treasury yield. that's a headline and a high for this calendar year, 2.23%. way up since the election. ashley webster is here. elizabeth macdonald is here and so, too, is scott shellady. and so is keith fitz-gerald. i'm calling this the dump growth rally. if anybody wants to take me on, take me on first, keith. the trump growth rally, yes or no? >> absolutely, without question, a lot of money still got to move and we're seeing it now. >> steve moore, and yes, it is. and go ahead, say it. >> obviously it is, but i want to make another point, the way that donald trump has comported himself over the last week since he won the election, very calming, very modest, very
9:32 am
humble, and gracious, i think is exactly what investors wanted to see. >> yeah. >> that he's going to reach across the aisle. you couldn't script it any better. >> i think that the interview with 60 minutes did him a lot of good. what do you say, scott shellady, the trump growth rally? >> it's the perception of one, but we now have to get the growth. don't get too ahead of our self and over your skis. it's going to be very volatile, but right now, at the moment trading on growth expectations, bonds down equities up. stuart: look at facebook, where is that stock? remember, please, mark zuckerberg is defending against trying to sway or trying to sway the election. >> they're saying fake news and misinformation on facebook that helped to sway the presidential election. he's fighting back and saying that's absolutely not true. that's 1% of the sites worldwide content could be classified as fake, he went on to say this, the hoaxes that do
9:33 am
exist are not limited know one partisan view or politics, it makes it extremely unlikely that the hoaxes could sway the election one way or the other. stuart: was there had a glitch that turned facebook pages into a memorial? >> a glitch actually kiltled off to the users and you went to your friend's facebook account page, there was a memorial message there for you. including one for mark zuckerberg himself. they say it was a terrible error that we've now fixed, but a little bit of a shock for people who wanted to catch up on facebook and found half their friends were being told they were dead. stuart: let's get the other big name tech stocks which we report on every day because that's where the money has been flowing for a couple of years. all of them have come a long way down since the election. and almost all of them, possibly exception of amazon, are down a bit more today. so, keith, would you buy any of those stocks on our screen
9:34 am
right now on this dip? >> without recitation, i would recommend buying any or all of those on the screen at this moment. here is the thing. everybody is betting on infrastructure and the other things. that's bricks and mortar and physical stuff is a limit. it can nt scale technology, when trump hits his stride or even if he doesn't, we all need that last bit for technology and the highway bill for congress. stuart: keith, wouldn't it be a winner if donald trump lowers the 15% corporate, and allow money overseas to come back here. that's a plus for them? >> not only come back, but create the incentive to invest it and they're sitting on stock piles and what are they going to do with it. a tax break and they'll bring it home and they put it to work.
9:35 am
stuart: we're five minutes into the early session on monday. we're up 45 points just shy now of 18-9. i've got this on samsung. they're getting into the car business. they are buying harmon, that's an electronics company, for $8 billion. nicole, the stock please and the story. nicole: let's take a look at the stock. harmon up. and multi-year high for mar harmon, based in connecticut, 30,000 employees. it's interesting that samsung is moving into this auto sector and saying it's a priority for the firm. the question is which came first the chicken or the egg. do they have the exploding galaxy note 7 phones and then do the automotive business or the other way around? don't forget, they have the other snafu of the top lowashin machines that the top game off in a high speed cycle and could injury the person doing the washing. between the phone and the
9:36 am
washing machine, maybe this auto the way to go. and this business could be $100 billion business by the year 2025. so this is why they want to get into this strategicically. stuart: it changes the subject, doesn't it? thank you very much indeed. how about the health insurers. donald trump says he's going to keep two items from obamacare and you can stay on your parents' plan it will you're 26 and can't be kicked off a plan for a preexisting condition. it's going to go up and down, and goes on on obamacare. >> up. i think that the insurers realize that if something weren't done majorerly to change obamacare that we would have had it or hillary, basically a government run system. and the same thing with the drug companies, we get more free market injection into the health care industry, that's
9:37 am
got to help our drug industry. by the way, i totally applaud what donald trump said. the last thing we need as a new administration is people with health insurance. we've got to assure people nobody is going to lose your care. we're going to cover everybody and lower your costs. >> we hear that and now i want to move on to the trade story. >> chinese media say we'll take a tit-for-tat approach if trump starts a trade war with china. liz: donald trump said a tariff and cutting off iphones and u.s. cars and swapping out bowing for airbus and cutting off soybean and corn. and the president of china saying he doesn't want to meet with donald trump and saying this is a negotiating tactic. it's an opening salvo in deals. stuart: but trump and president
9:38 am
xi held a phone conversation, i believe it was yesterday and trump at the end of it said the two of us will have one of the strongest relationships. liz: that's right, and trump supporting wilbur ross says there's not going to be a trade war, he'll focus on tax cuts and he'll be striking deals. stuart: that would be a hit to the market if there was a trade war, wouldn't like that at all. how about the banks. donald trump wants to fix whatever is wrong with dodd frank and that's the financial regulation that the banks live under. steve, that looks like a big-- to the banks, and for the regional banks as well, right? >> i actually think that the reforms that donald trump is talking about with dodd frank, and the community banks, more than the five major banks in this country, because what we'd like to do is see more competition. what's happened under dodd frank, it's the law of unintended consequences and you've seen more and more small banks bought out by the big banks. i think we get rid of dodd
9:39 am
frank regulations and it actually increases competition and the smaller banks do better and the big banks don't have as much power. stuart: j.p. morgan just hit an all-time high, another one, by the way, it's a long string of the all-time highs. i want to bring this to your attention. interest rates rising rapidly, 2.23% is what the yield on the 10-year treasury is right now. scott shellady, this is unusual. interest rates up sharply and stocks at the same time up sharply. what's going on? >> that's a direct result of the last seven or eight years, winding this market together with the bank intervention and it may seem, the perception is we are going to take this off and get back to the quote, unquote, normal levels. i want to remind everybody, we began at 2.27. if we get there, 2.24 in 10-year. we've got unwinding to do to have the markets get where they
9:40 am
should be not manufactured growth the last seven or eight years. stuart: i'm going to say goodbye to steve and scott. and steve is with us, you lucky guy, steve moore. look where the board is, exactly ten minutes into the trading session. it's not a huge rally, but it's a little more moving up. 30 points higher. 18,879. big tax cuts coming from donald trump, so we're hear more money into the pocket, growth and prosperity are coming, so we hear. here is the question, when? we'll deal with that in a moment. here is a peek what energy policy may look like under donald trump. steve moore says enough with the stalinist global warming rules. you want energy independence. it's time to burn coal. we're on it ♪ when it comes to healthcare,
9:41 am
seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live. i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin.
9:42 am
trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes. it should be used along with diet and exercise. trulicity is not recommended as the first medicine to treat diabetes and should not be used by people with severe stomach or intestinal problems or people with type i diabetes or diabetic ketoacidosis. trulicity is not insulin and has not been studied with long-acting insulin. do not take trulicity if you or anyone in your family has had medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2 or if you are allergic to trulicity or its ingredients. stop using trulicity and call your doctor right away if you have symptoms of an allergic reaction, such as itching, rash, or difficulty breathing; if you have signs of pancreatitis such as severe stomach pain that will not go away and may move to your back, with or without vomiting or if you have symptoms of thyroid cancer, which may include a lump or swelling in your neck, hoarseness, trouble swallowing, or shortness of breath.
9:43 am
medicines like trulicity may cause stomach problems, which could be severe. tell your doctor about all your medical conditions and any medicines you take. taking trulicity with a sulfonylurea or insulin may increase your risk for low blood sugar. common side effects include nausea, diarrhea, vomiting, decreased appetite, and indigestion. some side effects can lead to dehydration, which may cause kidney failure. with trulicity, i click to activate what's within me. if you want help improving your a1c and blood sugar numbers with a non-insulin option, click to activate your within. ask your doctor about once-weekly trulicity. hthis bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim.
9:44 am
only at td ameritrade >> we're losing solve the rally. two dow stocks did hit all-time highs again this morning and they would be j.p. morgan and united health. so some of them are still moving straight up. it seems that not everybody, peter thiel's inner circle is on board. you've got a partner with the company that says otherwise? >> jeff lewis said, the trump campaign, truth, untruth and things left strangely unsaid have left millions of americans feeling vulnerable and voiceless. where fear flourishes, he feels he's going to be retaliated
9:45 am
against. stuart: we'll see what he job he does or does not have. according to duncan honda, they're not the priority. watch this. >> we're going to have a tax reform package. we released it about two years ago and we've been working this stuff in congress for eight long years putting things on the president's desk and waving them go nowhere. so we have this stuff ready to roll, but i think that the tax reform takes longer, because it's-- it involves entitlement reform, i think. >> let's bring in steve moore on the trump economic advisory team, and it's going to take a while here. what does that mean? when do you think we'll get the tax cut bill in front of congress and we vote on it and we've got it, when? >> that's a great question. look, i agree with the congressman about the individual tax reform because that's a very tricky, thorny
9:46 am
thing to get done. you've got to take away deductions for people and trying to get the lower rates. but i agree with him. that's more complicated and might take a year or two, but i believe when it comes to the business tax cuts, though, the corporate tax cuts, and the tax cuts for small businesses, i believe, stuart, we can get that done in 150 days. stuart: wait, wait, wait. i'm interested in individuals getting a tax difficult. and that's how the you juice the economy. >> no, no, i disagree with you. look, we want to cut the individual tax rates, no question about it, but where you get the real immediate juice in the economy is you cut those business taxes and that's going to help the middle class because you're going it bring more jobs back to the united states. you're going to see the flow of businesses and capital back here. good studies by some of my friends at american enterprise institute show the biggest british beneficiary, listen, it's important, the biggest
9:47 am
beneficiary of the tax cut are workers, they have more capitol to work with, get raises and jobs. and get that done in 150 days and do the individual side which is more complicated. and we are going to get that done, too. >> that's a disappointment, steve. the first thing ronald reagan did, cut individual tax rates. the first thing bill clinton did in 1993 was to raise tax rates and back date it to january 1st. >> all right. let me challenge you on this. i believe what-- you're right what reagan did and kennedy, by the way, but back then the tax rates were much, much higher than today. when reagan came into office, the highest was 70%, today it's about 40. the biggest problem with the u.s. tax code right now is on the business side. everybody who has looked at this knows, how many times have we talked about this on your show, we cannot go forward as a worldclass super power with the highest corporate and business tax rate in the world and they've got to get fixed and fixed right away and we ought to call a republican jobs stimulus. >> just don't forget, large
9:48 am
numbers of people voted for donald trump because they want a tax cut from ridiculous levels at the moment. >> okay. >> i'm with you on that. i'm saying let's do it in two steps. all i'm saying. >> just say it. hold on a second. >> there's no retreat here. i've devoted 30 years of my life to tax reform. i want to get it done. we'll get it done. the easy part first and then turn to the harder part. stuart: this is a quote from you. define stalinist global rules and start burning coal. when. >> donald trump made a specific promise to the coal miners of america and try to put as many of them back in their jobs. these stalinistic rules that deal with climate change put so many of tens of thousands of our coal miners out of work and by the way, do you know how much coal-- guess how many years of coal we have in this country. stuart: couple hundred years worth? >> you're wrong.
9:49 am
500 years. we have more coal than anyone else in the world. we're the saudi arabia of coals. for the environmentalists we have the cleanest coal in the world. great story in the wall street journal people didn't pay attention to on the election. china is building like 100 new coal plants. how does it help the environment when we shut down our coal and china builds ten plants for every one that we shut down. how does that reduce global warming? >> we hear that, work on that individual tax cut for us all, please. >> we'll get that done, too, i promise. stuart: steve moore, you can come back, thank you very much indeed. where are we? check the dow 30. now we're back above 18-9. 60 points higher for the dow. trump drops a bombshell in the 60 minutes interview. hillary clinton, he's not keen appointing a special prosecutor to go after the clintons. that's a bombshell. let's see what the judge napolitano says about that. >> if i win, i'm going to
9:50 am
instruct my attorney general to get a special prosecutor to look into your situation because there has neveren so many lies, so much deception, there has never been anything like it and we're going to have a special prosecutor. ♪ ♪ ♪ ♪ how else do you think he gets around so fast? take the reins this holiday and get the mercedes-benz you've always wanted during the winter event. now lease the 2017 gla250 for $329 a month at your local mercedes-benz dealer.
9:51 am
if you're on medicare, remember, the open enrollment period is here.
9:52 am
the time to choose your medicare coverage begins october 15th and ends december 7th. so call unitedhealthcare to enroll... in a plan that could give you the benefits and stability you're looking for, an aarp medicarecomplete plan insured through unitedhealthcare. what makes it complete? it can combine medicare parts a and b, which is your hospital and doctor coverage with part d prescription drug coverage, and more, all in one simple plan for a low monthly premium or in some areas, no plan premium at all. an aarp medicarecomplete plan offers you benefits like an annual physical, preventive screenings and most immunizations all for a $0 copay. you'll also have access to a local network of doctors and much more. you can get routine vision and hearing coverage, a fitness membership to help you stay active, and worldwide emergency care. for prescriptions, you'll pay the plan's lowest price, whether it's your co-pay or the pharmacy price.
9:53 am
or pay zero dollars for a 90-day supply of your tier 1 and tier 2 drugs, delivered right to your door. in fact, our medicare advantage plan members saved an average of over $4,500 last year. now is the time to look at your options. start getting the benefits of an aarp medicarecomplete plan insured through unitedhealthcare. unitedhealthcare has been helping medicare beneficiaries for over 30 years. we'll connect you with the right people, help schedule your appointments, and with renew by unitedhealthcare, you can learn about healthy living and earn rewards, too. remember, medicare open enrollment ends december 7th. call unitedhealthcare today about an aarp medicarecomplete plan. you can even enroll right over the phone. don't wait. call unitedhealthcare or go online now. ♪
9:54 am
>> well, in case you missed it, those people were chanting "lock her up", on 60 minutes mr. trump was asked about it. he's not enthusiastic any longer about assigning a special prosecutor to the clintons, watch this. >> a special prosecutor. >> i don't want to hurt them. i don't want to hurt them. they're good people. i don't want to hurt them and i will give you a very, very good and definitive answer the next time we do 60 minutes together. stuart: so the answer really, kind of on hold, but he doesn't want to hurt them. they're nice people. judge napolitano is here. what does he think is the base will not be happy. >> the base will not be happy. he may be speaking in a
9:55 am
technical sense. my justice department will be-- the statute says you may have a conflict. he may be saying we will have no conflict and may have been talking about the e-mail investigation. we don't know because there are two real hot live investigations that the justice department in tandem with the fbi is conducting over the clintons. one involves both of them. that's the clinton foundation. was it a slush fund? was it a criminal enterprise? was it a true charity and the other is, did she make decisions the public corruption one as secretary of state tailored to benefit people, excuse me, who contributed the foundation. those investigations are live and real and i don't see president-elect trump interfering with them. stuart: but he has leverage, doesn't he? >> of course he does, he can pardon them or say shut it down or president obama could save him that decision by pardoning them himself.
9:56 am
imagine if barack obama pardoned bill and hillary clinton that last day in office. stuart: wouldn't that be a humiliation for bill and hillary clinton to be pardoned by the guy that defeated you? >> something tells me they would accept the pardon and probably save their freedom. stuart: but they're gone forever from public life. >> i think so. stuart: i had dinner on saturday night with a lady well into her 80's. >> did you pick up the tab? >> it was in someone's home, there was no bill. [laughter] >> a lovely lady that watches the show every day and the only time she really got mad at me when i suggested a pardon for hillary clinton. >> wow, i have taken some grief as well from some of staunchest supporters for sort of smiling on your suggestion without being as pro pardon as you. look, the concept of pardon is not being just, it's being merciful and this is a unique decision that presidents make
9:57 am
out of the bigness of their heart or in a political gain. stuart: in the sense of mercy, hillary clinton spent her entire life trying to be the president of the united states and she's failed. i wouldn't want to rub it in. and i'd say pardon-- >> there goes your social schedule. stuart: never have dinner with that lady again. lifetime highs for two dow companies, united health and j.p. morgan, look at them, up they go. and donald trump has confirmed it, he's not going to take the $400,000 a year presidential salary. he says he's perfectly happy with $1 a year. you'll hear him say that. and we're talking to the former president of brandeis university, he's condemning safe spaces and how they're babying college students these days. you'll hear that. back in two minutes.
9:58 am
..
9:59 am
10:00 am
>> democrats have lost pirate every level of government. they want a fresh start. the way they are going they are not going to get it. first senator harry reid with this exit statement said to us. the election of donald trump has emboldened the forces of hatred and bigotry. law-abiding americans are wracked with fear. white national celebrate while innocent americans cry tears of fear. the fear mongering is beneath the dignitary required at his office. truth is his term was a failure and who could forget senator reid deliberately and knowingly lying about mitt romney and taxes. democrats really do need a fresh start. but look who old-line democrats wanted the new bidder. congressman keith ellison. harry reid wants in. so to senators elizabeth moran and bernie sanders. ellison is a socialist leading the progression all caucus.
10:01 am
they hate and poison. president about much of the to the left and now leading figures in the party seem to want to go way out on the socialist fringe. they have a lot of sorting out to do. my opinion, if they go down the socialist road, they will be out of power for a generation. let's hope it the second hour of "varney & company" is about to begin. about 31 minutes into the session this monday morning.jusf right now. tram rally, as some people call it back, talking with art laffer in just a moment. the russell 2000 hitting a lifetime as a very broad-based indicator, lifetime high there. big tech names, let's go through
10:02 am
them. first of all apple, amazon, facebook, microsoft, all of them down again this morning. i followed their losses since the election. lifetime highs however for jpmorgan chase and united health. the car electronics company harmon is a winner. samsung is buying it for $8 billion. they want to get into the car business from the bad publicity and other areas recently. donald trump addressing protesters across the country. his message for them, stop it. roll tape. >> they are harassing latinos, muslims. >> i am so sad and to hear that and i say stop it. if it helps i will say this. i will say or write to the cameras, stop it. stuart: straight to the cameras, stop it. lee carter is here and she does not bring with styles but you've got the analysis anyways and i
10:03 am
was quite a forceful delivery into the camera. think it works? >> i think the whole interview went a long way in showing people that he was reasonable, that he was calm and that he was willing to take a stand against protesters and against a lot of the things that people are claiming that he is like a bigot and a racist beard if you see a comment like that, see who is serious about it and it's important move forward. stuart: how do you think it's going to go down about not taking a salary. $400,000 a year. i think he is taking a dollar a year. publicity wise. >> at the very good move. a lot of communication is also about symbolic gestures. this is a really important symbolic gesture to say i'm an outsider not going to do things the way they're usually done. i didn't need this and i'm here because i want to help the american people. stuart: lets your donald trump said that himself. i've got the soundbite. roll that tape, please.
10:04 am
>> there is so much to be done so i don't think will be good on vacations. >> are you going to take the president's salary? >> i've never commented on this, but no. i think i have to buy lots hit 1 dollar a year. i don't even know what it is. >> 400,000. >> i'm not taking it. stuart: that is the salary. he also said i'm not going to take vacations. >> i think it absolutely does. one of the big criticisms about barack obama is when crisis hits there on the golf course, on vacation, taking time out when they are serious we need to address. he is saying i am here, i'm a fighter and i'm not quitting on the american people. it's important he talks about these things. stuart: a switch subjects and talk about kellyanne conway. she went on the air and says look, democrat leaders need to stop encouraging this protest. i've got the soundbite. roll that tape.
10:05 am
>> the president of the united states, secretary clinton, others can come forward and ask for a peaceful transition and ask their support which are masquerading as protesters. professional and paid by the way. ask them to give this man a chance though that this country can flourish. stuart: that was interesting. trump said on that interview stop to the right and the left. kellyanne conway said he and mr. obama and hillary clinton come you should do the same thing. say the same thing. >> first of all she's a rock star. beyond that, i think it's really important that both the president and hillary clinton come out and say it over and over again. you don't just say again a fine message once in the day. we see a country. we are not unified. people are more divided than ever. the anger, vitriol is the responsibility of both parties
10:06 am
to say we need to work together and they are the leaders of many to say something not just once, many times. stuart: i thought his interview on 60 minutes made him a ready guide. he's not the wild fire breathing guy with. >> it's fascinating to see the change and he was the one of guide through the campaign and now he's very calm. stuart: do you think it's presidential? >> i do. when he talks about the respect he has for the office, are you afraid, overwhelmed, no just filled with respect. the second he came out on stage as he was acquitted of it here, the tears in his eyes all the way through that whole interview last night should go a long way to make people say this is a leader. he is taking this seriously and is change the tone entirely. stuart: we talked to people in the room onelection night and there was that moment when suddenly it became obvious that he was now president is not. from that moment on, his demeanor seemed to change because he understood this just
10:07 am
happened. >> at all just landed on his shoulders. stuart: what a moment. he never lost faith in it or not the same as not possible. let's take a look. he kept us calm and i think we see not ever since. stuart: i want to read the book whenever it comes out. i want to see it. lee carter, thank you for joining us. >> great to be here. stuart: back about 18,900. we have been rally in stock have been rallying stock prices since trump won the election. art laffer is with us i'm a former reagan economist beard this is the trump rally. is there any other way of putting it? >> no, it's been here quite a while. this is part of the trump rally. all changed america that's all for the good and frankly i disagree with you and the others by the way. it's not about talk action that trump talk. in this case, what trump does in the next few months is critical
10:08 am
to call me in the rice, call me peoples feelings. if he gets the corporate tax in there in the personal tax cut, he doesn't repeal reformation of obamacare, repeal of the executive orders. all of doublespeak monuments about what america is going to be like and it will be a very prosperous year. we created 21 million jobs they would be no one protesting because they would have jobs they would have to go back home and get rest for their work the next day. stuart: look at bank stocks. they are all up 2%, 3%. is that the reason? it's all going up no question about it. >> they will go up in banks to well when interest rates go up. to get the landed a higher rate and borrow at a lower rate. you cannot have a bull market in this country without a chip she'll be the summer between 2% and 4.5%.
10:09 am
the 10 year tips is expected real return on a unit of capital over the next 10 years. you've got to have expected returns before you can have a boom and we are moving right into that territory. i am so pleased about is happening i can't stand it. watching steve moore and your show was amazing. stuart: you watched him. the first priority actually is getting a corporate tax cut. i'm saying now, let's not forget ronald reagan. first thing he did was an individual tax cut. >> they are both wonderful. do you have children, which one you love the most? i love them all the most. i have six kids. the corporate tax cut is probably easier to get right away than the personal income tax. i'm sure that's the reason steve moore was saying that because we could probably do it in the first 60 days of the trump administration. just lower that rate and that would be terrific. the personal income tax are just
10:10 am
as important. you're completely right. stuart: i've got six kids. you've got six kids. i have nine grandchildren. i had three great-grandchildren. put that in your pipe and smoke it. you have three great-grandchildren. it's not cool? >> i'm a little bit younger than you. >> you are 76 years old. i'm 68. you've got a lot of catching up to do in eight years. stuart: i've got three children who are so far unmarried good one is getting married next may. i've got a prospect of meeting your small number. >> i have to still in prime breeding years. i am betting i get 20 grandchildren total. that's what i'm looking forward to.
10:11 am
isn't that wonderful, stuart? and these kids will be in the future. we have just done the future. you say it is for the next four years or whatever. we've changed america for 40 years. we've got all five positions of political power and simply look at the other two. the fed and the supreme court. this is a wonderful layout. all i want to make sure you do and all the others do as well, all the opposition back into her tent. we are a big 10 people. we want to work with people. when the silence people it doesn't mean you convince them. we want to commend some of the logic and that's why it's really bad actions trump talk. what donald trump does in the first year or two will break all of those disbelievers back into our camp and we will have a reagan. that will last for a thousand years. stuart: art laffer, three great-grandchildren. what a guy.
10:12 am
thanks a lot. >> thank you, stuart. stuart: by the way, one of my children is a farmer in new zealand where they had an earthquake. look at this. three cows stranded on that tiny little drafty patch of land. a magnitude 7.8 earthquake struck the south island. it was ripped apart that in the cows surrounded by those deeper beans. that is the south island. my son loves on the north island and he felt the quake shaking the whole house. hundreds of miles away. a big quake indeed. college students staging anti-trump protests and walkouts. we will tell you all about this. a lot more on this in just a moment.
10:13 am
10:14 am
10:15 am
10:16 am
♪ stuart: that can caps-on. if you're looking outside last night in a clear night, that is the largest superman since 1948. next time we will see is 2034. it will be over so slightly bigger. it was stunning. what a sight that was. an iphone takes lousy pigs. -- pictures. the rally is back in place at 73, while about 18,900. the price of gold tumbling very close to the 1100-dollar an ounce level with 12 bucks as we speak. trumps when causing protests and
10:17 am
walks out -- walkouts at colleges across the country. the schools are just plain software is the students. frederick lawrence is with us. former president of brandeis university. sir, i have to ask you, how on earth did we come to this place is a space and the rest of it? >> stuart, good morning. glad to be with you. safe places where students really mean is not that the classrooms that to be safe places because classrooms that to be places of vigorous discussion and free expression of lots of different views. there are certain times for certain students on places to be with students who share her view with students who shared these data that time together. i think we ought to understand campuses are a big plays. to keep our prices to make sure there are adequate places they can have rigorous vigorous debate. stuart: i'm a student that one of these colleges and i'm offended because i'm very sent to death about some issue or another and i'm offended by
10:18 am
something that's happening, if the university doesn't respond to my sensitivity, i could do. that's the case, isn't it russian market i can do the university and say i need may save space. i need my therapy dog. and they've got to provide it. it's the lawyers that are driving some of this, isn't it? >> now, that's a little overstated. i think you probably meant it to be, too. nothing wrong with therapy dogs during exam times when students need to calm down. the truth is offended me of lots of different things. if you are literally threaten, that is something different. offended in the sense of having your views challenged as part of what it means to be an undergraduate. most students to understand that. what you see right now is a major reaction to one of the most tumultuous elections would never have regardless of your political views. this is an election of great passion.
10:19 am
stuart: i don't think some of these youngsters should be in a university. i just don't date they are suitable candidates for equality university. i just don't see it. they are juveniles. >> well, you know, it's sort of depends on the student to spend time at good for students and teaching that young law school where the law school where the visiting professor, we thrash out all views and a seminar and as a matter of fact our last session we talked about re-expression on campus and a small group of students left right and center within that room and it was a serious respectful discussion. there is much more of that, a lot of heat and a lot less light on these issues and we ought to be involved in a little more light and a little less turn down the heat. stuart: the sense in heat. let's have some intensity. i spent three years at the london school of economics i had a couple pints of inside me that that's the way it was. >> there's nothing wrong with that. the liquid courage up to quite a
10:20 am
bit, but the reasoned argument was even more powerful. stuart: sera, a pleasure having you on the show. we disagree here, but but nonetheless present generation must do what we can do about this. >> spend more time on campus with us. take care now. stuart: if you're not careful i will and almeida police escort. much obliged. chelsea handler has a talk show on netflix. she breaks down in tears because hillary clinton did not win the election. the hollywood elite is distraught. we will show you more of this. you do all this research
10:21 am
10:22 am
10:23 am
on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance. stuart: kate spade i think makes bags. is that correct? one hedge fund urged the company to sell itself as investors like
10:24 am
that might get a better price. i've begun 6%. another name, the payment processor is called square. they've got one upgrade. as they go 4.5%, $12 a share on square. many of the elite of hollywood have been truly upset by donald trump's brain. how about tv host chelsea handler. watch how she reacted on her talk show. roll tape. >> it feels so sexist. i get the message that i want to spread out to other women is exactly what you are saying is not to give out. sorry, i hate crying on camera. don't give up because it's so important and it's easy to say throw in the towel and i'm en route to spain because i want to move to spain. i really, really want to move to spain right now. stuart: am i allowed to laugh at that and say frankly that is pathetic. am i allowed to do that?
10:25 am
>> you're allowed to do whatever you want. stuart: when you make of it? >> to call the is to miss the point of what just happened. hillary clinton lost pitch he got 51% of the white woman's vote. that is the period so how can you call it sexist? how can you say that when 49% of white women said we don't want hillary clinton. ashley: it's not that she's a female. she's not the right person for the job. that is not sexist. that's talking about a person's character. stuart: president obama said if she loses its because of with them. liz: that's wrong. he's wrong. i like chelsea handler. she's great. i think she's really funny. i am a fan of hers. this is a come to jesus on it. why did hillary clinton lose bad economic policies, even democrat union members had it's not
10:26 am
working in this country. michael moore has that message right. he doesn't agree with donald trump and now opera is saying there is hope because she sees donald trump. i think the message needs to get through. people out there are hurting. >> even hillary clinton said we've got to give him a chance. these celebrities are role models whether or not they want to be. if they are not following their leaders have a famous give them a chance, they're missing the point. stuart: bring me some dials. thank you indeed a donald trump indeed doubling down on his plan to deport illegal immigrants, criminal immigrants. he wants to deport criminal illegals. he says 3 million have to go. "the new york times" says that will rededicate the paper to more honest reporting. it underestimated america's support for donald trump.
10:27 am
that's what they're saying. more "varney" in a moment. >> you don't read about that in "the new york times" that he don't read about that in the other newspapers because the system is corrupt. "the new york times," which is totally dishonest by the way. here's the good news about "the new york times." they won't be in business much longer. do you see what they are losing? i'm connecting our brains so we can share our amazing trading knowledge. why don't you just go to thinkorswim's chat rooms, where you can share strategies with thousands of other traders? mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade.
10:28 am
[vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event.
10:29 am
10:30 am
♪ stuart: plan that the dolls as often as possible. thank you producers. the dow jones averages 44 points higher. liz: this is the only song paul mccartney played lead guitar on. stuart: i did not know that.
10:31 am
the electronics company samsung is by a man. car electronics tells you something about samsung. maybe they want to change the subject after difficulties with their phones getting into the car business now. donald trump said the protest and outrage over his wind proves a clear double standard between republicans and democrats. roll tape. >> hillary had one and my people when on a protested people would say that's a terrible thing and it would've been a much different attitude. there is a different attitude here there's a double standard here. stuart: david webb is with us this morning. i want to know who is behind this leftist per test. >> well, let's go through that. and the impact this quickly. i've got leaves turn him working on ground for us.
10:32 am
largely one group, portland's resistance. their website at their website. their remake of a blacklist matter group called don't shoot portland. they are the organized behind this. the an organizer. the un- organized anarchist and communist communities. they are significant in the city of portland along with the other groups i talked to about this weekend on fox news is that some of the move on.org sympathizers in a group of others. this is much like you and i talked about the anti-american and anti-capitalists. they would've celebrated history. they were so off about bernie, but now they have a perfect foil as they see it in donald trump. but they are not protesting for america. they are not going to change the outcome of the election. they want to tear down communities. stuart: they want to delegitimize donald trump's presence. by the way, let me stop you for a second.
10:33 am
our viewers may have seen moments ago some aerial pictures looking down. what you are looking not briefly were some high school students in maryland and a protest walking out of the school. silver springs, maryland. these are high school kids protesting -- sorry about the choppy signal. they are protesting trump's election. high school kids walked out of school. back to you, david. donald trump elaborated on his immigration plan. he says he's going to deport criminal illegal immigrants. watch this, please. >> what we are going to do is get the people that are criminal records, gang members, drug dealers, a lot of these people, 2 million or 3 million out of our country or we are going to incarcerate. we are getting them out of our country that are here illegally. stuart: that could mean
10:34 am
3 million criminal aliens deported. that's a large number. what do you make of this? >> trumps plan has to evolve the details of this. let's get past deportation plan. let's get from what he plans to do and how he plans to do it. in some cases a physical wall matters. the fox news story about the 150 border patrol agents being sent down. they are not there to provide border security. so far under obama's current in existing plan, they will help process out of the immigration centers to catch and release program out into america. in large part they are not there to turn people around and get them back across the border. they are there to balkanize america with illegals. that's what they're going to do. under trump that will stop them, turn them around. what we need to get is a complete deportation plan for
10:35 am
the criminals. we've got to get a plan to secure. by the way, the wage suppression of black and hispanic communities, the economic effects on poor communities is significant, especially lower-level jobs. stuart: more for you in a second. tampa bay wide receiver mike evans protesting donald trump's election. watch this. >> i don't want to disrespect veterans, the men and women that serve this country. i'm very indebted to them. the things that have been going on in america lately i'm not going to stand for that. but nash and comes out and says i'll stand again, but i will stand anymore. liz: he still can't believe the reality star became president. he is saying america is not america right now. i thought it was a joke when trump one. i'm not a political person. i've got common sense and i know what i'm doing is in a period
10:36 am
when you make of this, david? >> i wonder if he voted. donald trump is the president duly elected. what is he going to stand for? what will you take for inaction? what he feels he has the right to do, but what's he going to do about the issues in the community? stuart: yeah, what's he going to do? >> elise is not like the other celebrities that they were you going to get a better deal than america? stuart: is not doing football much good. they are tied down. the nfl earnings at the end of the season. "new york times" issuing a letter this weekend saying they are rededicating themselves to honest reporting during the trump presidency. howard kurtz is that kurtz is with us, and media buzz host on the fox news channel joins us today. are they apologizing to me or
10:37 am
times, is that how to read it? >> u.s. as close as you'll ever see from "the new york times" earlier mail a letter, talked about perhaps the sheer unconventionality of donald trump's candidacy caused us to underestimate his appeal. he completely blew the election and said hillard clinton and 84% chance of winning. we get it and we understand some of you may feel they haven't been fair to the president-elect. stuart: have you got anything unjust basis, the man who runs an unsafe big chunk of amazon, also owns the "washington post" outright and has led the "washington post" and to some of the most rabid anti-trump commentary we've seen in a major newspaper. have you got anything on that? are they going to reverse at all? >> i always defend the commentators write is the "washington post" in its editorial page very harsh on donald trump. the news pages of the post with
10:38 am
some exceptions here and there was more fair to trump in "the new york times." consent ishey is us, there that he is not very involved in the newsroom sitting out there on the west coast. so i think you may just be the "washington post" did like donald trump. everyone else in the main tree media who is tilting trump, they now have a president elect to deal with than they do need to rededicate themselves because their credibility was really tarnished. stuart: that is the word credibility. credibility to a large degree was lost in this election. you'd think they could get it back? >> at someone were to win back the trust of readers and viewers after an election not just because donald trump beat up in other news organizations and individual journalists by name although he certainly did that, but because by getting object of measure the volume and negativity was so tilted against trump and away from hillary clinton and you have leading
10:39 am
journalists and media critics justify and not by saying donald trump is such an inexperienced and ignorant and dangerous characters that we have to win the american people about this. the american people made their choice and that is why it is not going to happen in a month or even a year the media can get their credibility back in dealing with this new president. stuart: i'm sure you will deal that will deal that i media buzz. >> absolutely. stuart: thank you for being with us. take a look at some of our favorite tech stocks. they've all been down big since the election and they are down again now. apple at 105. facebook at 115. amazon 725, microsoft gave. the loss is not so bad. google at 755 and there is a series of declines for you. isis issue in a new thread. this time it involves the macy's thanksgiving day parade. we are on it.
10:40 am
nigel sunday, the man who led the red that of the european union. the first political leader to meet with donald trump and the europeans are absolutely appalled at this. will be back. ♪ what powers the digital world? communication. like centurylink's broadband network that gives 35,000 fans a cutting edge game experience. or the network that keeps a leading hotel chain's guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and communication counts on centurylink.
10:41 am
10:42 am
>> remember, "varney & company" starts at 9:00 a.m. eastern. here's what you missed at the top of the hour. art laffer on tax-cut and his grandkids. >> the corporate tax is probably easier to get graduate in the personal income tax and i'm sure that the reason steve moore was saying that because he could probably do it in the first 60 days of the trump administration. just lower that rate. that would be terrific. the personal income tax is just as important. you're completely right. stuart: i've got six kids. you have six kids. i have nine grandchildren. how about you. >> i applaud than three great grandchildren. put that in your pipe and smoke it.
10:43 am
10:44 am
stuart: would've had a series of new records for the dow into all-time records jpmorgan chase and united health both have gone straight up and they are up again today. 3% and 2% respectively. donald trump reveals maybe he will live full-time in the white house in washington d.c. ashley webster, where would he
10:45 am
live? ashley: well, trump tower. germany stories that had been on the road i'm on the campaigning but in the days before his campaign where he would do everything he could fly through the night to wake up in his own bed. he really doesn't sound. it's a three-story penthouse that he's been in for 30 years. why wouldn't you love it. things change and of course all of this is kind of coming to him now. he says maybe washington are days a week for the weekend. stuart: wait a minute, can you imagine the president of the united states spending two weeks a day i trump towers. liz: next to take the names and all other stories that would lose customers because of security. stuart: hadi defended power and the the president of the united states -- ashley: if there is a no-fly zone around it.
10:46 am
stuart: in other styles. for us. donald trump met face-to-face with donald farage. he led the breath out of the european union. the leaders of britain and france skip an emergency european meeting. the meeting had been called i were going to handle trumps when. on the french state away. the coup is here to cover that. sebastian gorka, author of the great book defeating jihads. welcome back. the person the french won't even attend a meeting like this? >> and we put the photograph back up? i just love this photograph. look at the man's face is. happy warrior from the 80s. these are the happy warriors back to save us. people now understand brexit, trump, same thing. >> does that mean trumps victory
10:47 am
enhances the prospect of a totally -- >> absolutely. we've had for a decade of multis bd europe, have you heard this? some people would be a first year. the boxes smashed. some nations say these guys and of don't represent us. they are the same as the elites who have been trounced by trump in america and we're going to see more repercussions. stuart: let me think this through. if europe falls apart in donald trump says to the europeans are going to have to stop defending yourself and paying for it. that means the rearmament of germany, how do we feel about that. >> let's be honest. i grew up in the cold war. we are all children of the cold war. the cold war allowed what the germans called the social market, this half pregnant socialist free-market and, but
10:48 am
why? we underwrote it appeared america under rotor with article v. they have to decide if a best to defeat people like i says are they going to choose butter over guns? the question of germany, germany's culture has changed quite a bit in the last 50 years. i'm not petrified of going down the highways. but these are the questions will have to be answered by the elite. how do we feel about the rearmament? stuart: i've got to get this question. ayatollah oxman khatami delivered a message during friday's price. it said in part, quote, do not play around with iran. iran will resist until her last breath. what do you make of that? >> it is tough because on one side is that it's heard. the line of persia, give me a break.
10:49 am
this regime is good at propaganda. i'll give it out. this is a regime that every friday since death to america. i think they understand who donald trump is. this is a message that they are a little bit -- yeah, this guy is not obama. stuart: they say we are going to stand tough, but they understand they are not using the same president. >> i was in trump tower about an hour ago and i can tell you dear friend policy of the next administration will not be the iran policy of this administration. stuart: easier said than done to tear up the agreement. >> now, it's an international treaty. the president can say done, over. stuart: at that happen, what would be our brands do? >> this is where we have to put pressure. they are going to build the bomb whatever we do unless we take a stance with other nations to make clear to them that there
10:50 am
are ramifications for taking us hostage, for hiding facilities, for not allowing american inspectors on your territory. these things have to be communicated and i expect donald trump as president to communicate them. stuart: sebastian, thank you for joining us as always. a quick look at the big word factory zero position here. virtually flat out, what say we might just be headed towards a negative. right there is exact to where we are at this moment. just her negative. i've got more video from you -- for you from new zealand. this is the moment the quake hit. does somewhat too dramatic, but it probably gets a bit march or not it. 200 wine bottles eventually fell off the shelf. this is a null sin city. my son is on the north island of new zealand and he felt that even though he was hundreds of miles away. see the wind, there it goes. new zealand famous for alvin
10:51 am
young balked. ice is issuing a new thread on macy's thanksgiving day parade. you want to hear about that. we've got the details in a moment. looking for a medicare prescription drug plan
10:52 am
that could save you money? at unitedhealthcare, we offer three plans to choose from to help meet your needs- including one that's brand new for 2017. introducing the aarp medicarerx walgreens plan
10:53 am
insured through unitedhealthcare. it features $0 copays on all tier 1 prescription drugs filled at walgreens, one of our lowest monthly premiums, and the convenience of more than 8,000 walgreens nationwide, including duane reade. so if you're on medicare call unitedhealthcare to discuss your prescription drug plan options. you can enroll right over the phone or if you'd prefer, enroll online. but don't wait. the open enrollment period ends december 7th. the aarp medicarerx walgreens plan provides coverage for the most commonly used generic drugs. and when you fill your prescription at a neighborhood walgreens you could really save money. get $0 copays for tier 1 prescription drugs and a $0 annual deductible on tier 1 and tier 2 drugs. call to see if your drugs are covered, and get help understanding your drug plan options.
10:54 am
we'll send you a free enrollment guide, even help you enroll right over the phone. or you can enroll online- it's quick and easy. remember, open enrollment ends december 7th. at unitedhealthcare, we're committed to helping you find the medicare part d plan that fits your needs and budget. that's why we offer three plans. like our new aarp medicarerx walgreens plan with one of our lowest monthly premiums and $0 copays for tier 1 prescription drugs when filling at any of the more than 8,000 walgreens nationwide. call unitedhealthcare today to learn more about your prescription drug options and find the plan that's right for you. ♪ ashley: now this, i says
10:55 am
offering followers a detailed how-to guide using trucks has weapons noting that the macy's thanksgiving day parade would be an excellent target. authorities say they are aware of the guy that so are there had been no credible threat against the parade. take a look at the big board. lost a little bit of steam. the dow up 18 points. more red sox then green on the dow as you can see. goldman sachs among the leaders. on the other hand, happily drag on the dow essentially flat. meanwhile, steve moore, economic adviser to donald trump during the election campaign. he says tax cuts are coming but businesses will be the first to get them. stuart: i am interested in individuals getting tax cuts. that's how you juiced the economy. >> no, i disagree with you. we want to cut individual tax rates. no question about it. or you get the real immediate juice in the economy is to cut business taxes and that will
10:56 am
help to middle class because you will bring more jobs back to the united states and see the businesses and capital back here. good studies by my friends at the american enterprise institute who have the biggest beneficiaries. the biggest beneficiaries ofer s because they have more capital to work with. bigger braces and more jobs. who will get that done at 150 days and then we'll do the individual side which is more complicated and get that done, too. stuart: that's a disappointment because the first thing ronald reagan did was cut tax rates and the first thing bill clinton did was to raise back dated to january the first. >> let me challenge you. you are right but reagan didn't kennedy but back in the tax rates were much higher. when reagan came in the high-tech service 70%. today it's 40. the biggest problem with the u.s. tax code right now is on
10:57 am
the business side. everybody was looked at this know some of the time i talked about this on your show. we cannot go forward as a world-class superpower with the highest corporate and business tax rate in the world cheered its got to get fixed and be fixed right away and i believe we ought to call the republican job stimulus bill. we want to change the way we see the world by changing the
10:58 am
complete landscape in lenses. our lenses will be more compact because we use a series of flat lenses and can be used in anything that has a camera lens. nexoptic is taking things from a conceptual stage into the real world. . .
10:59 am
11:00 am
stuart: now, in the run-up to the election we frequently issued a kind of a state of play report. well, we're going to do the same thing again in the postelection period. we're six days into this. here's what's happening. donald trump is organizing his power. he wants plans on his desk for tax cuts, deregulation and repeal of obamacare. his new chief of staff will make sure congress moves quickly. donald trump has assume ad presidential tone. very much his own style. it is now somewhat conciliatory. do not be afraid, is what he said. we will bring the country together. that was the message he
11:01 am
delivered on "60 minutes" last night. very different. investors are responding. there is a trump rally for stocks. interest rates are going up. so old-fashioned savers will get a little more. there has been violent street demonstrations funded and encouraged by the hard left. big protests threatened for inauguration day. they want to delegitimatize trump's win. the democrat, well they are reeling. they are out of power at every level and they don't know which way to turn. there is a leadership vacuum. socialist left may take control. the media, still apoplectic, beginning to question its unprofessional bias during the election. "the new york times" says it wants to get back to honest reporting. but what struck me most, is the hysterical reaction to trump's win. there are a whole offices in new york city where people are cryingen mass. there is a long list of
11:02 am
hollywood celebrities weeping in. and on campus, sled and crying session. i use one word is pathetic. let's not end the state of play with that, oh know. think after mood shift in much of the country which never get as look in. outside of coastal elites, sense something big happened, gives middle america some hope, and that is good. the third hour of "varney & company" is about to begin. ♪ stuart: all right. we're going to deal with your money first of all. the big board shows a six-point loss, off the highs of the day. we're still at 18,000 eight. two stocks at all-time highs. jpmorgan, unitedhealth, straight
11:03 am
up. price of oil? no impact on stocks today even though all the way down to $42 a barrel. think it would be big impact on us. gas should be lower soon. here is jack hough, "barron's" senior editor. i'm calling this a trump growth rally? >> can't quite call it the hillary clinton rally, can you. stuart: no, we can't. >> i agree with you. what do we know about donald trump? he is a builder, even when he had to borrow at junk bond rates to build casinos and hotels he built access civilly. he has access to government finance rates, low rates, i say there is a couple of things you can do are low-risk here. if you go on big building binge, build stuff we need. if we regret spending later, we still have the stuff. build bridges, build roads, build airports. corporate tax cut but we have
11:04 am
highest rates around but poor receipts. lower rates, flatten it. there is not much we can lose, we don't collect much now. we attract more business and stimulate the economy. stuart: that is important word, stimulus. you will get a lot of government spending, infrastructure, whatever. you get a lot of business capital investment if they get a lower tax rate and a lot of individuals stimulating the economy with tax cuts in their pocket. that is a massive stimulus. >> right. and i'm going to be watching down the road for sustainability. we don't want to blow out the deficit of course. we don't want to borrow too much. that is one of the reasons you're seeing bond yields kind of creep up people are worried about increased debt down the road. in the short term, if you have money in stocks i think you will sigh stimulative effect propel the market. i think by the way, donald trump's speech on election night was a trillion dollar speech.
11:05 am
we didn't hear mexicans and walls and jail and this and that. what we heard was, sounded like grown-up talking. a few conciliatory words. stuart: "60 minutes" last night, that was somewhat con soiler to on several areas. >> if we hear more of that and less what we heard during campaign season that will be good for the economy. stuart: essentially you're saying down the road you have a good shot at real economic growth in this country, you believe that? >> i think so. the bar is set low for what growth looks like. stuart: i'm talking 4%, at some point down the road? >> 4% is a tall order. can i meet you halfway? would you take three. stuart: no, four. >> four is tall order only because you have some one-time events that really propelled this country to faster economic growth. in the past it was probably sustainable. look we stand to have better growth going forward. whether it was three or four, could be quicker than we have now. stuart: do this real fast.
11:06 am
biggs-name technology stocks, put them on the screen they're all way, way down. apple at 104. microsoft, amazon, all through the big tex. amazon down 20 points. do you see big-name tech stocks becoming attractive at much lower levels? >> apple has been cheap for a while. facebook and google make great money for advertising. amazon is more expensive. netflix is more expensive. the perception silicon valley is no longer the darling of washington. we lived in a growth starved world where people wouldn't find stocks with bright growth pros ex-is. now they're saying wait a second. maybe industrials and selling consumer goods and they're no longer flocking to the darling stocks at the top of the market. stuart: the story on the stock market is continuing huge decline of big tech stocks. that is what it happening right now. jack hough, thank you so much for joining us. always appreciate it. >> thank you.
11:07 am
stuart: back to politics. donald trump naming reince priebus as his chief of staff. karl rove is with us this morning. karl, i believe reince priebus is there essentially to handle congress. he knows the people of congress. he will say, get me a tax plan, get me deregulation, plan, get me a get out of obamacare plan, put it on my desk. that is what reince priebus is for. >> i agree. as is vice president mike pence who has strong relation there is on capitol hill. but also remember, the white house chief of staff is responsible for organizing west wing. taking 550 people who work in what is called the executive office of the presidency, organizing them so they support the president's activities because while it is absolutely vital they get off to a strong start off on capitol hill. it is important they get off a strong start in all rest of the responsibilities a president has. stuart: two sides coming together, the trump side of the republican party and what i'm
11:08 am
going to call for wont of a better word the establishment part of the republican party. reince priebus brings them together, doesn't he? >> reince wouldn't call them the establishment. regular republicans. steve bannon pick, represents nationalistic, sometimes called alt-right philosophy of donald trump. i will say this i worked in the white house nearly seven years. it is hard to think of having just two people in coequal partnership directing the west wing. every other president ended up having a single chief of staff with strong people who have responsibilities inside the west wing. this will be interesting experiment. donald trump often used this in his business of two coequal people who sort of have to work it all out between them. it will require these two men to be very collegial, take their differences forward to the president in respectful and open fashion but it will be a little
11:09 am
bit difficult working how that exactly works. stuart: different and new structure but we're in a whole new world, are we not? >> yes we are. stuart: karl, we appreciate it, sir. >> thank you, stuart. incidentally on election day -- stuart: live pictures, looking at silver spring, maryland, anti-trump walkout of all places a high school. this is not college. this is a high school students who have walked out of their school. they are trying to block traffic. that is high schoolers doing this protest right now. look at this, trump's first meeting as president-elect with foreign leader, who is meeting? nigel farage a frequent guest on that pick you are. when they saw that picture, they were flat-out appalled. this is the fifth day of anti-trump protests. trump calling it a double-standard. more "varney" a moment. >> if hillary had won and my
11:10 am
people went out and protested everybody would say that is a terrible thing. it would be a much different attitude. there is a different attitude. there is a double-standard here.
11:11 am
11:12 am
[ male annnouncer ] with customink, you can design custom t-shirts and other great products for every occasion -- from the first day of school to game day and everything in between. with the best collection of styles and graphics to choose from, it's easy to go online and create custom t-shirts and more for all of life's events. ♪ [ all shouting ] get free shipping and on-time delivery guaranteed. go to customink.com to get started today.
11:13 am
>> don't be afraid. we are going to bring our country back. but certainly don't be afraid. we just had an election and, sort of like, you have to be given a little time. people are protesting. if hillary had won and if my people went out and protested everybody would say, oh, that's a terrible thing and it would have been a much different attitude. there is a different attitude. there is double-standard here. stuart: that was donald trump on "60 minutes" last night. the main part of his message seemed to be, do not be afraid. rachel campos duffy is with us, republican from the great state of wisconsin and mother of eight. >> mother of eight. stuart: we always shake our heads. >> you love saying that. stuart: i do. i'm so impressed frankly. so, he says, do not be afraid.
11:14 am
what do you make of this? sounded conciliatory to me? >> sounded conciliatory maybe more so than he needs to. i'm so tired of the protests. i think he is right. there is a double-standard. by the way i was disappointed in "60 minutes" interview they talked about some mean things that were scrawled on walls about you know minorities and gays but actual acts of violence a white man in chicago, pulled out of his car and beat up severely because he had a trump sticker on his car. a school, beat up at her school, captured on a cell phone. why didn't he bring that up? why isn't the media covering these stories. stuart: hold on a second. let me run a bite from donald trump "60 minutes" last night saying stop it. short bite, but let's roll it. let's see what the man said. >> they're harassing latinos and muslims. >> i am so saddened to hear that and i say stop it, if it, if it helps.
11:15 am
i will say this, and i will say it right to the cameras, stop it. stuart: you think he should have said stop it to the people who are harassing white people or trump voters? >> i think he should say stop it to everybody but also notice that there is a hierarchy of offenses. one thing to write something on a wall. there is another thing to pull somebody out of a car and beat them up. the media is doing exactly what they did on the campaign. they claimed that they have learned their lesson about telling the truth but they're not. this is politically correct because it's a white guy, getting pulled out of a car not being covered. stuart: you want to see donald trump a little less conciliatory than he was last night? >> it was nice tone. he brought up the double-standard, greatest glaring double-standard imagine for a second if that had happened, if somebody had pulled a hispanic or muslim man out after car and beat the crap out of him, what would have happened? stuart: very different situation. >> very different situation.
11:16 am
stuart: rachel, i have something you i want you to comment on. let me do trump's tax plan will reportedly increase taxes on single parent households. >> exposing more of their income to taxation, because it gets rid of certain head of household deductions, certain exemptions for children and exposes more of their income to a higher rate. let me back up. the let me give you one number. i know you hate this. that 33% rate, it is now hits at 190-k plus for singles. in donald's plan it goes down 112,500. so you basically -- stuart: at the moment if you're single and make $190,000 of taxable income a year you pay top rate of. >> of 33%. stuart: not 33%. 43%. >> at this bracket, 190,000. that is 33. stuart: that is going down to 112,000. >> pay 33 at that level. stuart: okay. that could be fixed, couldn't it, quite easily?
11:17 am
>> absolutely can be fixed. there was another one if you're making between 53 and $68,000, your rate goes up 15 to 25%. that is a problem. he got elected telling people he would make lives of single mom better this is not. it is fixable. they will have to do it. thieves are the people that got him elected. he has to do something to change that. stuart: you will tell him to do, won't you? >> i have a single mom sister, so he better do it. stuart: rachel, thanks for joining us. mother of eight. we had art laffer on the show earlier. he is the father of six. >> i beat him. stuart: he has 12 grandchildren and three great grandchildren. >> wow. stuart: come on. >> you have to be optimistic about america to have that many kids. stuart: yes, you are. >> i'm bullish on america. >> very optimistic. stuart: thank you very much indeed. protests continuing against the dakota pipeline. i think that is the official name. could find out as early as this
11:18 am
week if it is actually growing to be built at all. we'll head to cannonball, north dakota, for that in just a moment. first pro football player sitting out the national anthem. buccaneers wide receiver mike evans. he says he will protest until further notice because donald trump won. he said that, before the game. here is what he said of. >> i don't want to you know, disrespect you know the veterans or anything. men and women served this country. i'm forever indebted to them but, you know the things boeing on in america lately, i'm not going to stand for that. you know, when ashton kutcher comes out and says we've been "punk'd" i will stand again. but i won't stand anymore. you do all this research
11:19 am
11:20 am
11:21 am
on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance.
11:22 am
stuart: the army corps of engineers may announce this week whether the dakota pipeline can be built on tribal lands. william la jeunesse is right in the middle of it near cannonball, north dakota. your report please. reporter: you know, stuart, we're basically just north of where the pipeline is supposed to go under the missouri river. as you know it is 83% complete. all that is left getting permission from the corps of engineers or get an e!, to drill
11:23 am
100 feet below the riverbed here on the missouri river. now there are eight other pipelines already under the missouri river but the obama administration could, number one, they could approve the easement. they could recommend a different route, or in the president's words, let this play out. that is what protesters want. however in the end it may not matter because this is infrastructure project. it represents 8,000 jobs and energy independence for the u.s. which of course candidate trump supported. he is likely to approve it. now the pipeline carries oil from one of the most productive fields in the u.s., the bakken formation, in north dakota, to south dakota, iowa and illinois where it connects with other pipelines and refineries. the pipeline is about 1200 miles long, 30-inches inter. the size of a car tire. carries 50,000 barrels a day, half the daily production of the bakken, currently carried by
11:24 am
trucks and railcars. represents 370 million gallons of gasoline. they say it threatens water quality if leaks and right-of-way on the sioux reservation affect cultural art at this fact but it is not, let me correct myself, not on tribal land. >> there are people from all over the world and country that these people are trying to protect, sworn to protect the land as well as us. reporter: protesters blocked roads, they vandalized pipeline equipment and burned cars. most locals feel that the administration is interfering politically on behalf of environmentalists since the corps of engineers already permitted project and defended it twice in federal court. >> while the president thinks we should let this play out for a few weeks, a farm and ranch families are being impacted. again creating dangerous and very disruptive situation for
11:25 am
people living in this area and across the state. reporter: now the tribe steward says it has not been consulted. court records show that the corps of engineers attempted to negotiate with the standing rock sioux tribe 12 times. they showed up twice. both times they refused to negotiate. a day of protests are planned tomorrow, around the country. back to you. stuart: william la jeunesse, thanks for joining us of the appreciate it. two items we'll deal with in a moment. first off, hillary clinton blaming james comey for her losing the election. she said in a conference call, that's what she said with democrat donors. next one. look at that map. we're calling literally a sea of red. it is electoral college vote. former attorney general eric holder is calling for an end to it. >> well, i'm in the process of writing an article says, simple solution to it. we have to abolish the electoral college. requires a constitutional amendment. >> that is heavy lifting.
11:26 am
>> all right, so it involves heavy lifting. lift heavy. let's do it.
11:27 am
we want to change the way we see the world by changing the complete landscape in lenses. our lenses will be more compact because we use a series of flat lenses and can be used in anything that has a camera lens. nexoptic is taking things from a conceptual stage into the real world.
11:28 am
11:29 am
stuart: in a conference call with democrat donors, hillary clinton blamed fbi director james comey for her loss in the election. all rise, judge andrew
11:30 am
napolitano is here. well, did she lose because of comey? >> i don't think so, though i will tell you candidly at one point i did think so, early in the evening on tuesday night. but then as you saw the numbers coming in and as you saw the trump votes coming from areas where the votes have been a lot lower in previous years or traditionally democratic, blue collar areas, i'm satisfied this was a sea change in people's thinking that put donald trump in the white house, and he captured it. that's not to say that what director comey did was appropriate, making an announcement, a snapshot picture of evidence he hadn't even seen a week before election day. stuart: but if the democrats run off and say that's the reason for our loss, ignoring looking truly deeply at not just their strategy, but their policies -- >> they are doomed to failure in terms of trying to find the needs of the public if they're going to point fingers anywhere other than at themselves and at their, i'm going to use your
11:31 am
phrase, all government, a all the time. stuart: you like that. >> i do like that phrase. i don't like it happening, but it's a good way to characterize what they tried to do, what president obama attempted to do and what hillary clinton said she wanted to perfect. stuart: what i find astonishing is congressman keith ellison, who is right out there on the left, i mean, the man's a flat-out socialist -- >> yes. stuart: he has the backing of elizabeth warren, he has the backing of -- >> bernie sanders. stuart: -- and charles schumer. >> what about hillary clinton? does he have the clintons' backings, or are they totally out of picture now? they are failing to examine the political picture accurately if they're going to take arguably the most left-wing member of the house of representatives -- and that's no stretch to say that, and to be in that position is in deep, deep left field, and put him in charge of the party. stuart: you're right. i'm going to bring up a constitutional issue.
11:32 am
it was raised by former attorney general eric holder. he wants to abolish the electoral college. roll that tape again, please, and the judge will comment. >> fbi director james comey, are you going to ask for his resignation? >> i think that i would rather not comment on that yet. i don't -- i haven't made up my mind. i respect him a lot. i respect the fbi a lot -- stuart: i do apologize, the wrong sound bite. we rolled the right one previously where eric holder says we've got to do away with the -- >> right. he says bill maher who does a lot of heavy lifting and former attorney general eric holder says, okay, let's start lifting. by heavy lifting, bill m right on the mark because this would be a constitutional amendment. two-thirds of each house of congress, three-quarters of the states. the smaller states are never going to give up that power that they have. what donald trump and hillary clinton have bothered -- would
11:33 am
they have bothered to have campaign in small states, small population wise, if it were a national election? no, they wouldn't. they wouldn't have done it. stuart: it's like the argument for a balanced budget amendment. i'm sorry, it sounds great, and i'm all for it, but i'm not prepared to wait 10, maybe 15 years to line up all the ducks and get it done. >> it's like donald trump's argument for term limits. if congress limited terms and exempted themselves, grandfathered themselves in, you and i will be long gone before they kick in. stuart: i'm generally opposed to any changes in the constitution an the grounds that they take so long, and why mess with a document that's done pretty well? >> you know, one of the theories -- two theories behind the electoral college. one was to keep some power in the smaller states, and the other was so that the electors could defy the will of the public if they thought the public had been duped by a popular madman.
11:34 am
stuart: ooh. [laughter] is that the way it's worded? >> no, no, no. those were -- that is, i think, a fair summary of arguments made at the time in favor -- stuart: that's a fair summary? you're referring to donald trump. >> no, i'm not. he was hardly contemplated in 1787 when they wrote this. [laughter] stuart: who was it? who's that guy -- >> madison? stuart: no, no, no, much more recently. in 1983, the fellow who was a rock star, he actually killed himself, and then he had written in 1983 we're making way for a businessman, maybe even donald trump who will come along and be the president of the united states? what's his name? kurt cobane. >> oh, my god, was he lucid? stuart: i don't know, so you see, prescient. i'm buying you lunch today. >> oh, my goodness. what a rarity! phillip, i don't believe it for a moment! [laughter] stuart: draining the treasury.
11:35 am
do you want to get boo this? it's on theprompter, trump promised to -- oh, no. no, no. have we got mr. paul in the studio? we do. you're dismissed. >> you want me out of here when you interview my hero. stuart: okay. now, donald trump repeatedly promised to drain the swamp of washington if elected, so let's bring in former congressman, ultra-libertarian ron paul. congressman, welcome back. it's good to see you, sir. >> nice to see you, thank you. stuart: you should be happy, surely. [laughter] here we've got big tax cuts coming, we've got a lack of intervention overseas from donald trump, and we've got all this drain the swamp. you're a happy guy in this monday morning, are you not, sir? >> well, it looks like all my efforts have paid off. [laughter] i have this libertarian society, i have nothing to worry about. no, i'll believe it when i see it, and i think there's going to be some things improved, but we still have a long way to go.
11:36 am
how do you get disentangled overseas, how do you get disentangled domestically when you have so many things going on and so many alliances, and how do you get disengaged from too much debt? if debt is truly a burden, which only to of us believe -- some of us believe, what are you going to do with it? i think republicans have a pretty good record of not being bashful with spending money, especially with the house, the senate and the presidency. and trump has not been bashful about spending money, so we'll see. i think there's some structural problems in the economy that we're going to have to live with and resolve one way or the other. stuart: i think you're right. i think donald trump is going to unleash a new wave of government spending and a big wave of individual spending, tax cut money, and businesses spending their tax rate cut money. you could end up with inflation. so maybe you've been right all along, buy gold.
11:37 am
>> well, you know, we do have the inflation. inflation is when they create the new credit. you know what happened to the monetary base, it went from 800 to over 4 trillion. so it's sitting there. it is the environment, the confidence factor of sort of circulating this money. so they don't have to inflate more but, yes, i agree with you. we are going to see a lot more, and the word stagflation is going to crop up, and all of a sudden they're going to discover maybe it's not brand new. maybe we have had inflation in stocks and in bonds, we've had inflation in medical care, inflation in education and just -- i think one of the reasons why trump did so well is that people are suffering, they don't have good jobs, but the cost of living is going up, and nobody will listen to them. nobody will believe them. they say, or oh, there's no inflation so you don't get a cost of living increase. i think that is the problem. i think we've had a lot of inflation, more than they'll admit, and we're going to get a lot more. stuart: one last one.
11:38 am
i'm told you're not wildly keen on gary johnson. may i i ask you, did you vote for him? will you tell me? >> well, am i obligated to? stuart: no. >> i'm not obligated to, obviously. no, i did not vote for him. stuart: okay. >> now you got me in all kinds of trouble. [laughter] stuart: did you vote for trump? >> but i didn't vote for donald trump either, so i'm in trouble there too. stuart: did you vote for hillary? >> oh, i don't think so, no. stuart: you wrote in ron paul, didn't you? >> well, no. maybe the right -- the last name was right, but -- stuart: knew it, knew it. [laughter] it's always a pleasure to have you on the show. you're very popular, and we're very glad to have you here. thank you, sir. >> thank you, stuart. stuart: all right. we hear george soros is holding closed-door meetings with major liberal donors as well as nancy pelosi, elizabeth warren, keith ellison and union bosses.
11:39 am
what's he planning? >> happening now in washington, d.c., they're going to try to reset themselves and figure out how to beat back donald trump's 100-day plan, protect obamacare and win midterms. nothing on the agenda of how do you win back the working class voter and the forgotten man on your side, nothing about creating more jobs. in fact, there's criticism leveled at the elite of this party right now. you are donors who are disconnected, you live in coastalties, and you -- coastal cities, and you made big mistakes with this campaign, a lot of assumptions, and you lost. >> and, apparently, they haven't learned their lesson. stuart: apparently not. >> they just don't get it. if anything, to your point earlier in the broadcast, they're heading more to the left. stuart: it sounds like it, it does. >> it's the destruction of the democratic party. it would never behave like this up until 2008. it was never like this before, the democrats. they are in serious identity crisis right now.
11:40 am
stuart: all right. now look at this. the super moon, yes, it is the largest moon that we see and more bright too since 1948. it's there somewhere. >> there it is. stuart: ooh, look at that. >> gorgeous. stuart: i watched it last night. you can watch it again tonight when it will be actually even bigger than it was last night. you won't get another chance until the year 2034. hope you don't miss it, because it really was spectacular. a powerful magnitude 7.8 earthquake hit central -- actually, it hit the south island of new zealand, damaging roads, buildings. two deaths reported. hundreds of aftershocks as well. it's the country's largest quake since the christchurch quake of 2009. we'll bring you more as it comes in. and donald trump says he's open to keeping two items from obamacare in whatever health program he creates. we'll deal with that. but first, here's what he said about the transition from obamacare. >> there's going to be a period,
11:41 am
if you repeal it and before you replace it, when millions of people could lose -- >> we're going to do it simultaneously, it'll be just fine. we're not going to have, like, a two-day period or a two-year period where there's nothing. it will be repealed and replaced, and we'll know. and it'll be great health care for much less money.
11:42 am
♪ >> i'm nicole petallides with
11:43 am
your fox business brief. right now the dow is up five points. we've seen the back and forth action, today less so, but we were up 86, down 14, right now the dow is up 5 and the nasdaq down 26, the s&p 500 down 3. we do see a record today though, lifetime high for the dow jones industrial average and the russell as well. s&p winners and losers, we're watching harmon closely, that stock is soaring about 25%. regents financial also a winner, this is on, obviously, president-elect trump coming under pressure. siemens deal, mentor is moving higher, siemens pulling back. twitter gaining slightly down moving into that one, and the retailers, some of the names to watch this week as they report their quarterly numbers. ♪
11:44 am
it was always just a hobby. something you did for fun. until the day it became something much more. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade. see me. see me. don't stare at me. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75% skin clearance at 3 months. while the majority saw 90% clearance. do not use if you are allergic to cosentyx. before starting, you should be tested for tuberculosis. an increased risk of infections and lowered ability to fight them may occur...
11:45 am
...tell your doctor if you have an infection or symptoms... ...such as fever, sweats, chills, muscle aches or cough. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. serious allergic reactions may occur. see me. see me. see me. on my way. find clear skin... and a clearer path forward. for a different kind of medicine, ask your dermatologist about cosentyx. >> when you replace it, are you going to make sure that people with preconditions are still covered? >> yes, because it happens to be one of the strongest assets. >> you're going to keep that. >> also with the children living with their parents for an extended period, we're going to very much try and keep that. it adds cost, but it's very much something we're going to try and keep. stuart: okay, i'm going to repeat this, he will retain two items of obamacare; you can keep your children on your plan until they are 26, and you cannot be
11:46 am
dropped for a pre-existing condition. i want more on obamacare and its future with betsy mccoy, the author of "beating obamacare," a frequent guest on the program who has literally tried to beat obama -- [laughter] for the last five years. >> and by the way, donald trump said both of those things way back in february. so this isn't something he suddenly has come up with. stuart: every single one of our viewers want to know how will donald trump get monthly payments down and deductibles down? how does he do that? >> okay. so obamacare tries to ram together two groups of people, healthy young people in the individual market, right? and chronically ill people who needs ten times more health care. it's like trying to force a chihuahua and a great dane to pay the same price for food, right? stuart: okay. >> so it's, obviously, a bad deal. the other way to do it, the house republican method and what's likely to come out in the
11:47 am
next few weeks is this: we will require insurance companies to provide health insurance for people with pre-existing conditions but allow them to charge a higher price. and then ask everyone in the country, not just the small group of individuals, to subsidize it with their tax dollars. that means that premiums in the individual market could come down as much as 30 or 40% because right now chronically ill people are pushing those premiums way up. they need ten times as much health care as a healthy person. stuart: you split apart the chronically ill from younger folks -- >> it was such a ripoff. stuart: you've got to subsidize this group, the chronically ill, they've got to be -- >> that's right. but don't force this little group of people to subsidize them, ask the whole nation to subsidize them. stuart: young people, less chronically ill, they will be paying -- >> lower premiums, lower deductibles, they'll be paying for their own health care instead of paying all that money
11:48 am
in to take care of very sick people. stuart: that's, that's okay. that, i understand. >> but good-bye to the individual mandate, good-bye to the job-killing employer mandate, good-bye to the one-size-fits-all, washington knows best health benefit package. stuart: you've been lugging that thing around for five years -- >> it's almost gone. [laughter] stuart: betsy, thanks very much for being with us all these years. >> yes. stuart: you'll come back, i know you will. you've explained it well. >> the premiums will be going down. stuart: that's what we want to hear. thanks much. now, let's have a look at this big tech selloff. the dow is now up about 20-odd points, but have you seen how far down they're going? facebook, 114, microsoft, 57. look at amazon, down $18. alpha get google --al a that bet google, down -- >> i think it's nuts. money's pouring out of this, do
11:49 am
we really think that bulldozers are the way forward? maybe, but tech is still leading the way. buying opportunities, i think. this is all based on the fact that donald trump's going to hurt the supply chains in asia in particular, it's going to hurt these companies. also they're going to have to bring manufacturing back based on his campaign promises. but overall, look, apple is still the number one mobile device maker in the world. facebook still dominates the entire world in social media. 1.7 billion people. to me, this is way overdone, and big tech is one of the major driving forces forward. so jump in and take, take some bargains. stuart: ooh, watch out. ashley web isster -- [laughter] maybe you're right, i don't know. should i buy some more microsoft? >> what changed in one day that all of a sudden these stocks are no good? stuart: donald trump won. and silicon valley's at war with -- >> well, boohoo. >> they still have tech
11:50 am
lobbyists. you're on the menu, and these guys know it. stuart: if trump lowers the corporate tax rate from 35 to 15%, these guys could bring back a couple hundred billion dollars -- >> and do you think europe will enjoythat? just being facetious. [laughter] stuart: that can sometimes be good. [laughter] how about this? a mea culpa from "the new york times"? dead set against a trump presidency, but now saying it's going to rededicate itself to honest journalism. we'll be back. ♪
11:51 am
11:52 am
approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps
11:53 am
along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything.
11:54 am
the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ stuart: well, well, "the new york times" has issued its readers an a apology of sorts. here's how it reads: we aim to rededicate ourselves to the mission of times journalism; that is, to report america and the world honestly, without fear or favor. ash, is that -- >> that would be a nice change. no. listen, it was like a pyongyang-style approach from the mainstream media, promoting hillary clinton. now that the, god forbid, the worst thing happened for them, having to backtrack now. they're getting hurt in the pocketbook, their reputation is in. shreds, and that, as an
11:55 am
apology, is pretty poor. stuart: doesn't go enough near it. all right, i've got another one for you. cbs getting criticized for sitting on a sound bite of donald trump from the "60 minutes" interview when he told his supporters to stop it. cbs sat on that. just roll tape for a second. >> they're harassing latinos, muslims -- >> i am so saddened to hear that, and i say stop it. if it, if it helps. i will say this, and i'll say it right to the cameras, stop it. stuart: they sat on that, right? >> the interview took place on friday. cbs being criticized, why didn't you use that and show that quote that donald trump said that? and then the other side is saying, wait a second, donald trump can take to facebook and twitter and say that, he didn't do that. but it's interesting cbs was previewing this interview but didn't use this quote that could have maybe calmed the waters. stuart: absolutely. the man turns to the cameras and
11:56 am
says stop it, directly referring to threats made towards muslims and latinos, and he goes to the camera, he says stop it. >> doesn't play to the narrative. stuart: no, it doesn't, precisely right. >> it's a big message to give. stuart: it certainly is. it was rather forcefully delivered. >> on friday. stuart: yeah. other than that, i thought the "60 minutes" interview was -- >> very good. stuart: -- conciliatory, and the man's tone has considerably changed. a week ago, last monday, we were still in the middle of the election campaign, right towards the end of it, he was still a little sharp-edged -- >> which you have to be, but now he's showing the kind of leadership that we all hoped he could. stuart: it's a different trump. >> different tone, different approach, not one of anger, but one of more calm leadership. stuart: we've got some live pictures of a protest to show you, this is silver springs, maryland. it is an anti-trump walkout at, of all places, a high school.
11:57 am
can you tell me that this is not out of control? it's out of control. these are high school kids out of school, marched out deliberately trying to block traffic. that is a high school in the united states. wait a second, i've got another shot coming up here. i think we've got a shot, is this from los angeles, justinen? okay. momentarily we'll show you los angeles where there's a walkout to, some sort of protest, and they're waving mexican flags. i don't know what the situation is exactly, but that's los angeles. again, i think that was one of the biggest mistakes that latinos made. >> very early on too. stuart: very early on. we were ranting about that when there were mexican flags of a donald trump presentation rally waving a mexican flag as a red rag to a bull. don't do it. there it is, mexican flag. more "varney" after this.
11:58 am
11:59 am
stuart: well, a couple of big stories we've been following for you.
12:00 pm
first of all, donald trump's appearance on "60 minutes" last night, it was relatively conciliatory. the other big story is financial. those big name tech stocks which we have covered very thoroughly way down again, i'm talking serious selloff in big tech. it continues. my time is up but, neil, it's yours, sir. neil: thank you very much, we're keeping track of those two protests in los angeles and silver springs, maryland. they're mostly by high school students, most of them not even legal to vote, but they are arguing to stop donald trump in his path and try to make their locales sanctuary cities to protect illegals who might be in these communities. donald trump has already promised to deport up to three million illegals, that is down substantially from the numbers he originally talked about, 11-15 million illegals who might already be here.

120 Views

info Stream Only

Uploaded by TV Archive on