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tv   Varney Company  FOX Business  March 6, 2017 9:00am-12:01pm EST

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maria: bottom line, wealth creation comes from owning stocks. >> get in and stay in. maria: great to see you today, tony. thanks for joining us, tony robbins. >> great to see you. maria: dagen mcdowell. >> every morning. maria: "varney & company" begins now, it is stuart. stuart: we will take it right there, maria. the trump rally may be on pause. why? politics, of course, yeah, good morning, everyone. it was a wild weekend. he ordered trump tower bugged, tweeted president trump, early saturday morning. no, i didn't, said former president obama. and it goes downhill from there. political turmoil in extreme. it may delay the agenda, and that's fot good are to the trump rally. it's on pause with the dow around 21,000 and by the way, it will open lower today to the down of about 50 points. the trump rally on pause. this week, we'll see the
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obamacare replacement plan, however, republicans are split. we'll see the new executive order on immigration, it will face a court challenge. add it all up and this monday morning, we have an angry political environment shows no sign of calming down. a confusion where the trump growth plan and rally are going. one last point. a federal court did okay the surveillance of obama's political opponent, fact. obama made it easier to leak the information, fact. we'll check it all out. "varney & company" is about to begin. ♪ all right. the media has finally noticed the trump rally, but it's pouring water on it. new york headline, stocks are up 5% under trump.
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so how long will the rally last? some selective cherry picking of the numbers there. remember, the markets are up double digits since the election. looks like a lower opening this morning though. we've got political turmoil in washington. investors are looking for clarity on the growth agenda. we'll be down 40, 50%. china cut its growth forecast, that's not helping the market this morning. how about snap? you can indeed now buy a piece of the disappearing app, that's what it is. it was up 60% in the two-days since it started trading thursday, it's going to go up a little bit more this morning, around a $28 per share mark. let's get to political turmoil. i want somebody to straighten me out about what's going on and who better than judge andrew napolitano, he is here. all right, i said right at the top of the show, fact, a judge okayed the surveillance of the trump camp before the election. i said that was a fact. am i accurate?
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>> yes and no. because the fisa court has given the nsa authority to surveil anybody at anytime for any reason. so, the authority for the surveillance preceded the trump campaign and fisa does not issue warrants for particular places and persons. they issue general warrants, all the persons in new york city. all customers of verizon, everybody who spoke to so-and-so, that's what fisa issues. the fisa statute permits the president of the united states to order the surveillance of any person in the united states without a warrant from any judge just on the basis of the president and the attorney general's say so. fact, the attorney general's say so is a secret document that will never see the light of day. stuart: never, no matter what? >> ever. i don't know if president trump's allegation is true, but i do know under the law,
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president obama had the authority to do what president trump ordered him to do. and i also know that because the nsa captures every telephone call, the digital version, the digital version of every telephone call on every device and land line, the key strokes of the desk top and fiber optics in the united states long before the trump campaign existed it had access to whatever conversations donald trump was having. it has the digital version of every communication, already had it. president obama didn't have to order it, and didn't have to go to fisa for it when he already had access to it. stuart: they got the information, it was being is your veilsurveilled, they've go it. >> someone decided what to leak. donald trump's claims of leaking is driving him crazy and it's selective concealing
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and selective revealing. it's the intelligence manipulating the president of the united states and taunting him. stuart: and president obama before the inauguration did make it easier to get that information out by releasing it just from the nsa to 16 intelligence agencies. he made the determination. >> the answer is yes, it was a mysterious change in the rules about three, three weeks before he left office. stuart: how convenient. >> let me also tell you this, the nsa is in the military. the military reports to the president as commander-in-chief. what he orders, they do. this is not a question of going before a judge as an intermediary. the president wants something done, nsa does it. president says i want a conversation between donald trump and judge napolitano they had, he gets it in 15 minutes. stuart: and the president to go to nsa, i want to know what's
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going on, lay it out for me. >> president trump could dial back the nsa. stuart: he's got the ace in the hole. you made this allegation without any proof whatsoever, he could have the roof because he could tell the nsa to give it to me. >> you're so smart. i'm serious about the smart. i'm trying to be funny, but the answer is yes, you're absolutely correct. stuart: have you ever seen anything like this? >> no, there may actually be more by the time i see you at 11:00, or there may be the new executive order on travel ban by the time i see you at 11:00. it's only two hours from now, but a mountain of information, it's likely to come to us in those two hours so we've got to watch this program to stay tuned? >> that's called a tease, mr. varney. stuart: well done, son. i'm staying on president trump. tammy bruce is with us. i say the left is trying to get under the president's skin and succeeded and that's what made him blow his stack with that tweet at 6:30 on saturday morning?
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>> i think that this is something the left has always done about mr. trump. they've always underestimated him and think he's going to be reacting in the moment and be able to maneuver him. he thought during the campaign, that's clearly not what happened. the things that you-- that maybe don't make sense right now ultimately end up making sense and they helped him be successful. you had the left as all of their great plans, clearly they were disconnected with what was really occurring and this is also one of those cases, the left always goes too far, they never know when to stop and i think what they didn't expect is for him to say this, when in fact they know that it's perhaps an issue which there is such scrambling. stuart: nobody was expected that tweet at 6:30 eastern time saturday morning. >> i would argue it's not because he's bored, it's because it's part of a plan. stuart: the turmoil paused the trump rally and something else is pausing the trump rally. the split in the republican party.
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the immediate issue is obamacare, they are split and that's going to hold things up, what say you? >> that's the biggest issue, looking at a legislative frame work the president is going to bring back to the country this week, moving back into policy and legislation. he can walk and chew gum at the same time. his big issue is bringing along those individuals in the g.o.p., the bureaucracy, that's his big handle. he's got a big staff and people who support him, he'll be able to do both. stuart: the trump rally looks like it's paused around 21,000 because of the issues we're dealing with. there you have it. more action from president trump, he's going to sign an issue on immigration, and iraq is off the list. legal permanent residents excluded from the ban, they can come in. no indefinite ban on syrian refugees, that's in the order, too. full details coming up for you. more aggression from north korea, test firing several ballistic missiles into the sea of japan. ralph peters on that in a moment. and you'd never expect to hear
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this from the head of the catholic church. pope francis says, if we want to sustain the earth and save the environment we need to have fewer children. we're on it. and if you blinked, you might have missed it, but "varney & company" made its first appearance on "saturday night live." we've arrived. roll tape. >> the president with unchecked power. >> mr. trump just spoke to vladimir putin. >> tax returns. >> republicans have blocked the first-- >> they've got to get their act together. ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap right from the alert. wow, i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade.
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>> there are some big names that we follow all the time and they're worth following, look at general motors. they are selling their opel unit in europe to peugeot. please, that's an entire car division servicing all of europe and they're selling it for $2.3 billion euros. that's a fraction of the value of snap, which is a disappearing message app.
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doesn't that tell you something? how about ubs they say get out and buy netflix stock. it looks like another new high, up another 1 1/2% as of this morning, but goldman sachs, they're saying sell gopro. it looks like people are taking that advice, down 4% on gopro, it's back to $8 a share. i remember, i think it was around 80 as i recall. ashley: yeah. stuart: way back in the distant past. details about the new travel order the president is giving today. give us the bullet points. liz: here is what's not in it. iraq will be taken out of it because iraq has been fighting isis. syria will not be singled out for an indefinite ban, but will face that roughly three month suspension for syrian refugees so they'll still be in the refugee three month suspension. not in it, also priority to religious minorities, meaning christians, there will not be priority given to religious
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priorities. they will not be. so christians don't get a leg up to get in. liz: okay. stuart: i thought that's what we were fighting for, sure, but there you are. thank you. how about this one? north korea fires four ballistic missiles into went to the sea of japan within 200 miles of japan's coastline. joining us is colonel ralph peters. nobody seems to be doing anything. >> the only people that could is the chinese. they're afraid of the regime collapse in north korea that would bring, basically, u.s. ally right up to china's borders and worried about a flood of refugees, north koreans are still starving. the latest launch of missiles, they launched five. one failed, but an 80% success rate is pretty good for north korea, it means their program is getting more reliable and getting better.
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this is in response to our annual defensive exercise, our militaries and south korea's work together every year. stuart, coming atop the grim assassination with nerve agent in malaysia of kim's half brother. stuart: can't we shoot them down? when the missiles are launched, don't we have a cruiser that can take one of them down and take it out of the sky? would it be an act of war? >> it wouldn't be an act of war, it's not worth our defensive capability. as it's sea, there's no point. if we thought it's going to japan, we would react assuming we have a system or vessel in place. the problem here, north korea wou would-- hitting them militarily and taking out the nuke program, sound like a good idea. but it's spread around, even
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though if we were able to launch decaptation strikes, the north korean military has the capability to destroy seoul. why? after the korean war seoul was devastated as a point of pride, the south koreans built it on the same site on which is right on the dmz. conventional artillery can hit seoul. so this is a very, very complex problem and it's going to be an enormous challenge for president trump. no easy answers. stuart: and that's for sure, ralph, for sure. tell me about the meeting coming up shortly when angela merkel, germany's chancellor, comes over to visit president trump. what do you think we should expect? because they're on opposite sides of the fence on immigration for sure. >> it's going to be p.t. barnum meets martin luther. this is, i mean, you've got mr. casino versus the pastor's
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daughter and their style and substance are profoundly different. to me it's going to be the most interesting meeting of trump's first year in office unless he meets with vladimir putin which would be more interesting. but we don't understand angela merkel. here people know her just for the immigration issue which she really flubbed up and trying to fix, but she is within europe the strongest european leader since margaret thatcher. she's broadly respected, sometimes feared by fiscal waste types. she's a person of tremendous ethics and backbone and deep knowledge and her style is very quiet, it's quiet, sort of silent and deadly whereas donald trump of course, president trump, he's more flamboyant. and he doesn't have the grasp of foreign affairs. and she is leading the counterattack against putin.
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two, protect nato and three, free trade. stuart: well, how do we feel about german re-armament. that's really what this is all about, isn't it? >> i've said for decades i wasn't worried about a military weak germany, but now president trump's remarks about nato over the months have really alarmed europeans. the rational european leaders are worried about putin. for the first time there's a german combat battalion, an armored battalion in lithuania which borders on the russia exclave. we're so isolated on this side of the atlantic, we don't understand the fears europeans with long memories have of vladimir putin and they're generally worried about president trump and they need reassurance and one hopes when angela merkel and donald trump sit down together, that they
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are able to come to a sensible conclusion about all of these issues. >> well, the whole world seems like it's turned upsidedown and that's a fact. that's what we've got this monday morning. >> and congratulations on making "saturday night live" where kate mckinnon is doing more for democracy than anyone in congress. stuart: the whole world turned upsidedown. we'll see you soon. thank you, sir. check snap, have a look at that. a big splash. the thing went up this morning, another 4.8% and that's premarket trading and back to 28 and change in a couple of minutes. despite president trump's promise to buy american and build american, the keystone and dakota access pipelines will not be required to use american steel. we'll tell you why. there will be more varney after this. now on the next page you'll see a breakdown of costs.
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what? it's just... we were going to ask about it but we weren't sure when. so thanks. being upfront is how edward jones makes sense of investing. is it keeps the food out. for me before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now.
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>> we have cleared the way for the construction of the keyston and dakota access pipelines, thereby creating tens of thousands of jobs and i've issued a new directive, that new american pipelines be made with american steel. stuart: okay, new american pipelines made with american steel. okay? we've got that. but i'm told that the steel for
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the dakota access pipeline and keystone pipeline is not necessarily going to be american steel. you want to explain this. >> it's so simple and it's common sense reason. because the steel was already ordered and sitting there. so, you know, the media is making a big deal, we're not going to use u.s. steel for these pipelines, well, it's because it was already ordered they're not going to waste money ordering new steel. stuart: new pipelines will be american steel. these two, we bought it already. liz: it's already sitting there, the steel. stuart: scott shellady joining us from kjm investments. he's back in chicago, not in london. we're pleased to have you back home where you belong, scott. what do you make of this. will we be making new pipelines. he said new, not this. you have to parse the words. you look at pipelines out there, there's a lot.
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going forward we'll absolutely use u.s. steel just like he said new and not this, he also said the mexicans will build the wall and maybe not mexico will build the wall if they win that bid. so you've got to be careful how you listen to what he says. stuart: well said. how many companies are bidding on the wall. liz: 335 including raytheon, including companies owned by hispanics and women. stuart: 335 companies are bidding to build the wall and u.s. steel since the election is up 80%. liz: hopping. stuart: that's the pipeline block. the u.s. steel and pipeline. where are we going to open in four and a half minutes' time? i'll tell you, we'll be down 50 or 60 points. maybe the trump rally is on pause this monday morning, we'll certainly find out. back in a moment.
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>> all right. in 40 seconds we're going to find out which way this market goes this monday morning. this is a key question because we've had an astonishing run-up for the dow jones industrial average. it appears to have hit a peak around 21,000. the question is why have we hit that peak. is it because of extraordinary
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political turmoil in washington d.c.? is it because the republicans are split on two key legislative issues? reforming obamacare and the tax cuts? all of those things are in play. i think we're going to open 50 points down. let's see because this monday morning, we're now, bang, at it. we're off and running, trading has begun. where are we going? we're down 56 points in the first couple of seconds worth of business. on the left-hand side of your screen quite clearly, a majority, a huge majority of the dow 30 are in the red. they're going down. and now we have the dow off 72 points. i'm going to say that this is a pause for the trump rally this monday morning after an extraordinary weekend of political turmoil. we're following it, obviously. a couple of big names, i'm going to ask another big question about these two, amazon and alphabet, both of them in a virtual dead heat around $846 per share, both of
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them down 2 or 3 dollars this morning. my question, which of these two stocks gets to $1,000 first? we're on that one. snap. they started trading on thursday of last week, they went up 60% in the first two days and they're up again this morning, another 3%, but i've got to tell you, barron's magazine over the weekend said not so fast, the price of snap is not justified. we have general motors selling out of europe entirely, getting rid of their opel unit, selling it to peugeot. that is worth only a tiny fraction of snap. more on that coming up in just a moment. yes, it's monday morning, we're off, we're running, on the down side, 76 points and look who is here. elizabeth mcdonald, tammy bruce and keith fitz, keith fitz-gerald, fitz to us. and turmoil is putting the rally on pause. do you agree? >> confidence is the usual here
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and they haven't got it because of the headlines. stuart: and scott shellady, you've been saying this all along, it's a show-me market and we've not been shown. >> it's quiet on the western front. he got off to a great start and the bar was set too high. it's okay for markets to back off a little, but running in the swamp of washington and it's going to slow things down and the market is going to take a breath. stuart: tammy bruce. >> the interest of the left is to create uncertainty and that's for their political interest as well when it comes to legislation, the president might want to pass, but it has an affect into the market and even i know the market does not like uncertainty and that's what they're getting right now. stuart: i do not wish-- voter investors do not wish to see the trump policy installed and maybe it is. how about the dow losers, plenty of them on the down
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side, we're stabilizing at the moment with a loss of 70 points for the dow jones industrial average how we open this monday morning. general motors as we told you, getting out of europe, they're selling the last dregs of what, forgive the word dregs, they're selling the last part of their operation in europe. opel, peugeot of france is buying it. by the way, the opel unit 2.3 billion euros, a tiny fraction of what snap is worth. scott, are you surprised? i don't think you're surprised at all, are you? >> i'm a little bit surprised, but more and more frustrated. i mean, let's take a breather here on this and look at snap is valued above 31, 33 billion dollars. that's bigger than target. that's bighp. hewlett-packard and that's bigger than american airlines. does anybody believe that the valuation could hold water? i do not. stuart: you could have said the same thing about facebook a few
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years ago and people did say that about facebook. >> facebook is making money. stuart: they are now. keith fitz come in, please. snap worth multiple times more than gm's european unit, what do you think about that? >> not for long. that business is not making money, and it will not for several years unless there's a radical change how they do things. to scott's point, it is show me. there isn't anything, but hype backing that. dangerous stock. stuart: i'm going to bring in balance magazine, they say the stock price of snap is hard to justify. right now at over $20 a share. >> i think maybe it ought to be 10, 11. stuart: scott shellady, go ahead. >> you know what, stuart, god forbid we have a market calamity six months time a you'll look at the last ipo because we're getting the levels we saw in the late 90's,
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this is just ridiculous. you're taking this a warning signal it's gone too far, too fast, it's out of bounds. irrational exuberance? >> we could be over the bow and an ipo we haven't had in a long time and think what do these people make and what do they deliver and do they make money? >> we're listening to you, scott, along with everybody else. as i said earlier, we've got a dead heat between the price of alphabet, google, and amazon. 847 a share. scott, back to you, which one of those two hits $1,000 first? >> you know, i've got to tell you, i still think it's going to be amazon. we don't talk about the reasons why i think it's a great stock. amazon is great because of amazon web services. 50% of the internet goes through there on a daily basis. that's huge and really where i
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think a lot of that growth is. but at the end of the day i think it's going to be amazon because of that. stuart: keith fitz, alphabet or amazon, which one first to $1,000 a share. >> i'm with scott. amazon, market and customer knowledge. they've got much of what the customer understands. and google has a lot what the customer doesn't understand. stuart: we've got one down, check out the big board. we're off 80-odd points. 83 at last county. puts us well below 21,000. we're still at 20,923. how about this? bird flu found at a farm that is tied to tyson foods and that's taking tyson down nearly 3% there. netflix, i believe that's a new high as of this morning, $141 a share. ubs says, go out there and buy it.
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somebody is, it's up another 2%. however, goldman sachs says, get rid of gopro, don't touch it with a 10-foot pole, it's down 3%, 857 on gopro. you saw this coming, scott shellady, i know you did. >> all of this aside, a lot we could talk about. that's got to be the longest latest call i've heard in a long time. stuart: yeah. i want to go to the floor of the new york stock exchange where nicole petallides has been sampling the sentiment on the floor there. do traders-- here is the obvious question, do traders believe that at this point, with the dow down 85 points, that the trump rally has stalled? what are you hearing? nicole: they are in a wait and see mode and somewhat of a more tactical mode. they all agree on one thing, a market cannot just go one way, and a little bit of a pullback is just fine. but here is what some of them are saying. scott redler over at t-3
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trading says we're getting-- seeing some of the traders getting more tactical, making both shorts and long trades. betting both ways, actually in barron's an article in the weekend over short interest on the rise slightly. in other words, just playing both sides. also, we heard that people are selling into the rallies a will ill bit. and they're in the wait and see mode. you have a jobs report on friday as well. the optimism for the long-term is still there. stuart: let's not get carried away. if it's a pause, it's a minor pause. we're only down 70%, point, we're at 20,900 worth remembering. s&p as in standard & poor's says that this year is a tipping point for the retail sectors. shoppers are moving heavily on-line and foot traffic at bricks and mortar stores is coming down. that's a negative sign. so, here is the question, keith fitz. is there any retailer, pure retailer, that you would buy right now?
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>> no, there isn't, stuart. i think the better choices are amazon and alibaba for the reasons you have just highlighted. i don't see customer foot traffic building and if anything, i see malls going dark and yet, on-line traffic continues to build. that's very clear. stuart: scott shellady, i think this is one of the hidden, but major trends, the move to on-line shopping and not shopping in brooks and mortar stores, what say you? >> you're exactly right. reminds me back in the day, we wondering, what cinemas were going to do with cd's and dvd's. and making the mall something totally different or they'll go the way of the do-do bird. and when shop like that, i agree with keith, it's going to go dark. stuart: it's fascinating. what a trend. liz: it is, and wall street
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rating agencies and s&p looking at 20 names that include j-crew, neiman marcus, kohl's, if they can't cut their way, in terms of selling assets, they have a boatload of tech from the private equity shops and amazon is eating their lunch with the national average. stuart: it's a great story, very important stuff, let's not forget about that one. check that big board now. we're down 70 points. 20,933. china has cut its growth forecast. keith fitz, is that any reason for us in america to be concerned? is it affecting our market at all? >> i would not worry too much about this. the country is growing very, very large, very, very quickly. the key number here is what they import, not necessarily what they export, which is how everybody thinks about it. that figure, surprisingly is 98
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to $99 on the dollar. keep your eye on imports because that tells how they're using what they're taking in. >> okay. we have the dow jones average down 70. and thank you, a great performance on a monday morning. let's be reassured, it's a modest pause for the dow industrials after minutes of business. loretta lynch releasing an inflammatory on facebook. she says our rights are trampled on, marching in the streets. was she preparing people for violence? we report, you decide. and the pope saying we need to start having fewer children. how about that? more on that coming up next. ♪ ♪ and show me a sign ♪ ♪ and take it to the limit one more time ♪
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>> if it's a pause in the trump rally, it's a very modest pause because now we're only down 60 points and the dow is holding at 20,972. the pope is urging families to have fewer children. what's that about, liz. liz: the global sustainability, depletion of the earth and it was at a biological extinction workshop that the vatican supported and basically talking about, the pope said specifically have fewer children if you cannot bring them up properly. the pope is in agreement with three other popes to said the same thing. stuart: isn't the pope aware of the rapid decline of birth rates across europe, asia and certainly north america? isn't he aware of that. >> i'm sure it's a message to catholics, if you can't bring them up properly, i'm sure a
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natural thing that all of us would care about, if you're having ten children, you can't afford them, you're in an environment that's maybe a war environment, a dynamic, if you have as women control of our own body, another issue. stuart: hasn't catholocism turned around when birth control was frowned upon. liz: it's frowned upon in the catholic church. stuart: it's a contradiction, we're frowning on birth control, but we still want you to have fewer children to save the planet, i see a contradiction. liz: that's correct. you know, you're not going to like this, do you know what was discussed. how do you limit the number of children? via taxes and regulation. stuart: really? a story and a half on a monday morning. >> a leftist kind of dynamic. stuart: i'm glad we raised this issue on a monday morning. now this, political turmoil, it seems to have stalled president
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trump's legislative agenda. that it means trouble for tax cuts. joining us now david schmick, former senior hill staffer and author of the book "the great equalizer". >> i want to talk to you about the 1986 negotiations, you were in the room and it was tense stuff. it's a repeat this time around. are we going to get a tax cut deal? >> i think so and i think this time around it's a chip shot compared to 1986. if you look back at the history of that, the democrats controlled the house, republicans controlled the senate. and there were interparty rivalries, for two years, tax reform was declared dead. i mean, it was the one certainty of washington, you'll never get tax reform, well, we got it through and it was very tough. look at the difference today. republicans controlled both houses of congress, they've got a president with what, 30 to 50 million social media advocates that he can turn on, you know,
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people who are against tax reforms. stuart: republicans are split and i'm sure split in 1986, but you're saying they can get over the split, this time get over the split. >> yes, they were beyond split. the key thing is to get a bill to the floor because particularly republicans, it's very hard to vote against a tax package that has corporate incentives, but also has a middle class tax cut. nobody wants to vote against it. they may try to stop it getting to the floor with back room maneuvering and the west, but they don't want to vote. in 1986 to put it in a frank sentence, if you're a senator up for reelection, do you want an opponent, particularly a primary opponent saying our senator thinks you're undertaxed, our senator thinks the government needs more of your money. they don't want to vote that out in the open so that's why,
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once you get it to the floor, this thing has a much greater chance of passage. the big question to me, is donald trump. he reminds me of kind of the tom brady. when tom brady is in the pocket, concentrating on that receiver, getting that long pass for the touchdown, the patriots win. when brady is constantly looking over his shoulder at the linebackers and the safeties who are the press and the democratic party, and trump becomes reoccupied things don't go well. it's a simple analogy, but the president has got to pull away from some of this controversy and say, okay, i'm going to be judged, do i get tax reform through? history will say i'm a success. not a success not based on my tweets, but whether i can get it accomplished. he can get it accomplished, but he's got to be fixated on it. stuart: call it, david, will we get a tax bill delivered and
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signed before congress goes on the recess in august. >> i think you'll get it to the house, i think by the end of the year they'll get it primarily for this reason. republicans and donald trump have promised 3 to 4% growth. if they don't deliver, and i think the-- half of the country is saying, we're not bothered by this political noise, yeah, it could be upset, all we care about is results. but if they don't deliver, i'm telling you, god help them. so, that's why i think in the end they're going to have to make this happen. they've got to stop worrying about a lot of the headlines seem to be written by reporters who have never experienced a legislative fight. and why, there hasn't been a tax legislative fight for 30 years. but, so they see a couple senators who say, i'm not going to vote for this or that, that's noise. the end of the game, it's can you get the bill to the floor and when that happens, the bill is enacted. stuart: david schmick, the voice of reality. thank you for joining us, david.
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we'll see you soon. >> great to be with you. stuart: yes, sir. check that market, the market is coming back now, we're down a mere, mere 47 points, we've cut the loss in half. still a preponderance of red on the left-hand side of the screen, but we're only down 47. the opioid epidemic, and that's what it is, it's so bad in maryland, the governor declared a state of emergency. what will that do for the epidemic? more varney after this.
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>> how about this? in maryland, governor larry hogan has declared a state of emergency over the opioid epidemic. come on in, please, dr. marc siegel. i want to know if the declaration of a state of emergency and pumping in $50 million is going to solve the crisis, is it? >> first of all, depends where it goes. i'll talk about that in a minute. governor hogan, who i interviewed is a hero, recovered from lymphoma and lost a cousin to opioid overdose. his heart is in the right place. will the money go to treatment centers and prevent physicians from abusing-- >> does it go to treatment. $50 million. if it goes to treatment, does that work?
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>> it's starting to. there's a drug called saboxone, it's got a drug that gets you off opioids yes. stuart: there's an alternative. kills the pain that's one way out, partially out of the trouble. >> the alternatives treatments. stuart: the other point, you want to crack down on physicians who are overprescribing this stuff. >> get this in 2012, 259 million opioid prescriptions were written in the united states by a small percentage of us. abusers, physicians who don't know what to use these for. the institute of medicine say millions suffer from chronic pain, that's justification for opioid. you put somebody on vicodin, percocet, it doesn't work and they become addicted and need more and more and more.
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stuart: where is ama, the american medical association representing doctors? what are they doing? >> they should be heavily not. they're more worried about us getting sued, by the way. as you always talk about here we have the issue of malpractice reform, that's where the money goes. i think that physicians need to be cracked down on. in new york state, we have a system called i-stop, we have to literally log onto a special website to prescribe opioids. make it hard for us to prescribe. schedule 2, go under scrutiny for this. these drugs i told you last time it's the by the way prescription. somebody comes in on the way out. physicians should be on the lookout for this and block it before it happens. okay. violent protests in berkley over the weekend. people interested, ten arrests, we're on it. hour two is three minutes away. >> latest data say?
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stuart: legs are hurting the term presidency. legs are hurting the president's growth agenda. leaks are hurting america. so who is doing it and why? we don't know the names of the leakers, but we know they are people entrenched in the government bureaucracy. the suspicion is they are holdovers from the obama administration who don't want to see their old policies reversed beard and short, it is the revenge of the left. they lost, but now they are trying to destroy the winner from within. regrettably, it is working. there have been leaks about general flynn, attorney general jeff sessions and links about russians, too. well, general flynn is out in the attorney general has had to recuse himself from any investigation oppression hacking. and now, the president says
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trump tower was bugged before the election. now that is a startling charge. indeed, a federal judge granted a surveillance request from the obama team in october last year. mr. obama in the last days of his administration allowed 16 other intelligence is to look at intelligence information. that made leakage possible by many more people appeared it sure looks like a deliberate attempt to undermine president trump. this goes beyond politics as usual. this is not a political role. allied with the hate filled media trying to destroy a presidency before it gets started. we've said this many times. you've never seen anything like this before. surely that is true now. but there is this. remember watergate? that was about the bugging of a president's political opponent. so i guess we have seen this before. defect in seven -- the second
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hour of "varney & company" is about to begin. we lost the animation. the big board down only 40 points. we dropped 85, 90 points. now we are down just 40. i'm still going to say it appears that the trump rally has stalled right around the 21,000 level. down 40 as we speak. snap, take a look at that moving higher again despite what barron's magazine said over the weekend. they set the price is not justified but it's a little bit more. 2755. goldman sachs pronouncing go pro is not a good guy. it is a good cell they say a good cell they say and it is down this morning he bucks a share on go pro. ups satisfied netflix, doing just that. it's up another couple of bucks, very close to an all-time high. amazon and also that both around
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843, $844 a share. we are asking who is going to get -- which of them will get to a thousand bucks very spirit answers to that question early this morning where amazon gets there first. we will see. the strain of workflow has been detected at a farm in tennessee which is connected to tyson foods and tyson foods is down 3% on that news. back to my editorial at the top of the hour. wiretapping allegations in leaks coming out of the white house. the leaks coming out of the federal bureaucracy. military analyst general jack keane is with us now. general, you can't conduct government business if they bureaucracy is against you and the leaking damaging information. you can't run the government if you can't run the bureaucracy which is supposed to be doing the running. where do you stand on this? >> frankly, there's been rumors
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here for weeks pointing exact way what you just discussed with an organized effort on the part of the obama administration before they left office to do everything that they possibly could in conjunction with the media to undermine the new administration even before it got started and once they took office that is obviously the case as well. i have a tendency to believe that because there's just so much rumor associated with it and the fact that it is organized in what make the difference of course is that there is a winning media who is supporting this effort. and yes, it does undermine the presidency. stuart: it is impossible. how can you run any government department if the bureaucrats in the department are leaking information damaging to the new policy which the boss wants to put in place. i don't see how you can stop it. how do you stop it?
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>> worst of all, they've got to get political appointees into this position to take charge and that really hasn't happened. to give you a sense of it, dod which i'm very familiar with, the department of defense has 54 political appointees that have to take positions in the department of defense. the senate armed services committee has only received one nomination and now the secretary madness. there are 53 outstanding they haven't received yet and this is going on throughout government. this process is going much too slow and they've got to speed it up and get their own people in place. stuart: general, hold on for a second. i want to break away. news of more missiles launching by iran. not north korea. this is iran. transport to short range anti-ship lay laserguided missiles. they did potentially shoot up one of these missiles to destroy a floating barge is me. have a range of up to 200 miles.
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iran is going on a shopping spree for military hardware. stuart: general keane, i'm sure you're listening to that. was your initial response? >> a level continue to evoke in general. they want to send a loud message. ever since the nuclear deal was side come in july of 2015 they've taken the gloves off and they are sending loud messages to the sunni arabs who they are opposed that we are the number one power in the region. we will take advantage of the situation wherein when we can and they use to humiliate the united states do that. they try to weaken the relationship between our allies, the sunni arabs in the united states. that's their objective is. stuart: does either side, iran, america coming neither side wants a shooting war. neither side wants an incident where a soldier was killed.
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neither side wants that, do they? >> no, that is the case. the iranians are willing to use their proxies to dominate. they are willing to use violence. they do it in syria, lebanon, yemen today. those are all violent acts that have taken place. the iranians clearly will use violence to achieve their object is. i believe this administration has turned a different page because they are willing to confront the iranians. that began with sanctions as a result of the missile test firing. the previous administration was never wanting to couldn't rent them. if you want to confront them, the likelihood of being a conflict is less because you are willing to deal with these folks. stuart: you can cut the tension with a knife. that's what i think. thanks very much, sir. i want to know if all this political turmoil and we have seen some political turmoil over this weekend. i want to know again does it
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interfere with the legislative schedule? i want to know. if it doesn't appear that, you'll have a pause in the trump rally and you're not going to get the growth we want in this economy. abc started real clear politics. that's the u.s. can you make the judgment for me because you have seen the turmoil and you know what the legislative schedule is feared you tell us and our viewers, if it do they do they because the business of politics? >> republican lawmakers have spoken today one of this administration have been concerned as the weeks passed with time-consuming chaotic events that seem to be that the news cycle is and take a time with a very hard work ahead on a very ambitious agenda, even parts of which by themselves would be hard to do on their own. as you know for certain reasons come legislatively to have to come up with a solution to the
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obamacare before they can get to tax reform, even though they think that would be easier, get to growth sooner. they are really mired in this fight over how to replace this law. on wednesday there is some sort of solution. they have been struggling all weekend to cross their eyes and get this all together. they're still huge dealmaking outstanding questions like the expansion of medicaid. and then you get to tax reform or they have a huge disagreement as you and i have discussed on the border adjustment type with the treasury secretary steve mnuchin saying it will be signed by august. the congressional schedule as follows. you were either off here or on year. we are an honor for the midterm election cycle. this is the off year where you're supposed to get everything done and whites push through so soon in the obama year in 09. they had to get something big done by august and they are worried they can't.
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stuart: i will put you in the skeptical column. >> i'm speaking for members of congress who have to get this done. these conversations are private. they are not ready to run the honeymoon but they are worried about the pace of thi stuart: you've got political turmoil and splits within the republican party and the most cluttered legislative agenda in a generation i think is very, very optimistic to say look at obamacare repealed and replaced and the tax cut signed by august. that seems to be a very, very optimistic schedule. and i think he joined in the skepticism. >> either of these things would be hard to get done before the midterm election of 2018 on the road. stuart: tanks as always for applying your political expertise to this. we need it and we appreciate it. check the big word. we've come back nicely paired were down 85, now down 41. 20,900 is where we are. germany's angela merkel will meet with resident trump next
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week in washington. she's coming here. the man behind breaks that is coming up next on this program, nigel farage. or rather lynch says that our rights are being trampled and we need more marching in the streets. listen to this. >> individuals who have banded together, ordinary people who simply saw would need to be done and came together and supported those ideals who have made the difference. they've marched. they bled and yes, some of them had died. a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at
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stuart: we all tune in at 930 clutches of the market widely believed that a big downside move it didn't happen. down just 40 yards points although a majority of the dow 30 are in the red. this is not a big selloff thus far this monday morning. i do have a big winner for you
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and that is tg therapeutics. an experimental leukemia drug is clearly crucial study. the thing is almost doubled up nearly five bucks for $10 a share. that is a 92% gain. i'll call that a winner. breaking news coming to us from the supreme court around the bathroom issue. please. transfer just come inside to this major decision in the transgender high school student named gavin graham born a woman, identified now is a man. the supreme court is setting us back to the court of appeals not going to rule on it. gavin wanted to use the bathroom of his choice that the supreme court said we're not going to rule on this. you have to do it this court of appeals. train to the bathroom law, the bathroom was not in effect. i want to get some stuff on the judge a little later on the show. must be clean cut about it. antitrust protest of late have been largely peaceful. over the weekend they have turned into full-fledged despite
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down the street. there is a approach trump march in berkeley, california neck a group of violent leftist. there were street fights, 10 people arrested. an elderly man was indeed assaulted. that by breaks are confiscated and used in the street fighting. hill columnist and sirius xm patriot host david webb is with us. look at the big picture for a second. it seems to me the situation upon the street is deteriorating rapidly and moving towards violent and i don't like to see this. it's a dangerous thing. what do you say? >> well, it is. think about it, who brings back the metal pipes to protest to go up there in the public. certainly not the trump supporters. certainly not the tea party. the leftists and i will separate them as we always do from what's left of the blue-collar democrats, the liberals -- true
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liberals in this country. the leftist has taken over and this is the anti-american, anti-capitalists pro-socialist. put anything not within american culture and that's what you got up there. the tragedy and misses a lot of this has been supported by organizing for america. barack obama's organization built from the top down. some $70 million funds a lot of these organizations. protesters have to travel. they go around the country is disorganized and you've got these other groups that are fostering hate and division and you see the result is silence. at some point, america will fight back. i don't like to see protests by ear but let's face it, the american people are going to get sick of this. stuart: i want to roll a sound bite around former attorney general loretta lynch. not a rant, more of a statement about our rights being rolled back and what we might want to
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do about it. roll tape. >> individuals would end it together, ordinary people who simply saw what needs to be done and came together and supported those ideals would've made a difference. they've marched, blood, yes some of them have died. this is hard. every good thing is. we have done this before. we can do this again. stuart: she is drawing a parallel between the civil rights situation in late 80s, early 60s and what's going on today. was the end result of that statement and encouragement to be violent? is there? >> holiday hand to do whatever you want if you want to go to the truck rallies and be violent. this is the former attorney general of the united states who sat on the tarmac in a coordinated move with former president clinton while his wife is under investigation. this is someone who has been obama slack key and i will use
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that term in the justice department who didn't enforce federal law. we are not static. society has evolved. stuart: what right has been trampled on? >> the law that has been pulled back civil rights. voting rights, there's no such thing, no such proposals. they use the voting rights fight as i see it. there is no one country law on the books of the united states at any level for proposal to say if proposal to say if you are this color or this gender or this ethnicity in general, you cannot vote or you have to provide something abnormal outside of any citizen. stuart: i just wonder if the bathroom rose what she might be referring to. >> that is not a right. that is an issue that is left to the states that says you make the decisions.
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this is not the overarching government socially engineered in our country and that is not the constitution. we have a bill of rights, not a village needs. people's names don't often rise to the level of the constitution. stuart: david webb, thank you for taking time out i know you're a busy guy in d.c. >> potters wonderful. it's warmed up. stuart: whatever you say. the dow board down 60 points, saying maybe this is a pause in the trump rally because of political turmoil in washington and split republicans on the key issues of obamacare and tax cuts. we are down 67. the white house president trump issued a new travel order today later on. question, can this one survived the cause? pope francis telling people to have fewer children to help overpopulation and help fight climate change. how about that? we will be right back.
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stuart: barron's magazine over the weekend that snap could not be justified at 27, $28 a share. they said you couldn't justify the high price or that say people are listening because that stock is now down 5%. now it's down 5.5% back to 25 months now. look at oak grove. this is an all-time low for that stock because goldman sachs came out and said so that they can. goldman cited a saturated market of wearable cameras and disappointing entry into the drug market. 832 and go pro. pope francis now urging people to have fewer children. is the same not because too many people mess up climate?
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where people can't afford to have children so they have fewer children. liz: he is saying both effectively. have fewer children in order to stay out of your. if you cannot raise children properly, have fewer children. they came in the context of a workshop at the vatican called the biological extinction workshop, where they are talking about ways in order to sustain the population on this planet. stuart: that is a remarkable turnaround for the catholic church in the last 50 years. because there was a time i remember well when pope paul the sixth outlawed artificial birth control. now pope francis appears to be saying get out there and have fewer children. liz: pc and essentially -- they are still saying no to artificial birth control. so you are right. there's a conundrum in here. stuart: good word. thanks very much from others here it is all clear to me.
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the markets can we show all 30 dow stocks and show the direction. at the moment come most of them in the writer going down and indeed the dow was up 67 points. trump rally on paths. germany's chancellor angela merkel visits washington d.c. next week to meet with president trump. the topic of muslim refugees is sure to be a major item on the agenda. more "varney" any moment. ♪ at angie's list, we believe
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there are certain things you can count on, like what goes down doesn't always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list.
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stuart: now, we are down 69 points in the dow industrial. we are significantly below the 21 mark as of right now.
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look at the big names. the big names in technology. they have been going up recently. today the downmarket arroz down. they spoke on amazon, microsoft, amazon, apple. fraction of 1% but they are down. read errors there. president trump continues to tweet, taking his message directly to the people, especially the 6:35 a.m. tweaked on saturday morning. media bias host howard kurtz is with us now. welcome back. does the president that the united states have any establishment media defendant at this point? >> establishment, not so much. he has some of the daily collars invoices and talks radio like laura ingram and mark levin on people on fox. lou dobbs and sean hannity. when it comes to the
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establishment media, the 6:35 a.m. tweaked because even republicans go on shows and say they don't have any proof about wiretapping. >> the tone sounds almost angry at the president has lost his temper. he fed up with these leaks that said goodbye to general flynn and the attorney general recused himself. it seems like he lost his temper. that's what gets to a lot of people. do you think i'm right? he lost his temper and treated as soon as he got out of bed on saturday morning? >> it was widely reported to be upset and angry on friday about the way for which the jeff sessions recusal contacts with russia story set on the one good 24 hour period he had which was his lover's new speech to congress and i can understand that. at the same time, but the coverage and this is a very white house did in the last 24 hours i've read pieces about
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reince priebus under fire. it is hard to defend him on this wiretapping charge. he hasn't given them anything to work with. obviously the media not well disposed to the president to begin with will take that step and run with it. >> or we do know the upshot is that tweaked at 6:35 saturday morning, we do know trump tower was bugged. we do know that, don't wait? >> we don't know that fact. i haven't seen evidence for a fact. we do know there were reports about an fbi investigation and seeking warrants from the fisa national security court. but it's kind of murky now. leave aside the speech is said to congress. today, will an today, rolling up the revised immigration travel ban. later this week, republicans want to roll out their plans to repeal and replace obamacare. to some extent, the president set this in motion will be competing with if not overshadowed ilb stories about
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wiretapping. stuart: if you can't control the leaks, it is very difficult to get on with the business of running the country. there are bureaucrats. >> every president faces legs, but in this president in particular is getting a lot of damage he makes about sensitive and sometimes classified national security information including calls with foreign leaders and many of them i think is making president trump very upset. he has an undeniable point. stuart: i say this almost all of our regular guest. we've never seen anything like this before. i say again to you, howard. thanks very much for being with us as always. next order, just about a week ago, everybody was talking about the speech that president trump delivered to congress. got very good reviews from both sides. fast forward just a couple of days, add a few accusatory tweet
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into the mix and it's been overshadowed, the speech largely forgotten. the former speechwriter for bush 41, robert grady is that that's the if you are working for this administration, which you tell the president to stop tweeting? >> i would probably tell him to stop tweeting or tell him to tweet about economic growth. he needs to reunite the republican party as he tried to do in the speech around a vision for a more successful, more hopeful america. the thing that unites the republican party's commitment to economic growth. if the leaks just keep on coming as howard kurtz said in the last 24 hours you've got all these leaks about reince priebus, this, that and the other. it's very hard to run the country and govern in a situation where you're a bureaucrats come in the people supposed to work for you are constantly leaking damaging
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information. >> that is always true and especially in a republican administration where they tend to be democrats -- they have a better start and played up his transition, got more people appointed, more people in the white house staff appointment. you can't run the country was six or seven people, most of them haven't been in government before. if i were the president, i would've started with tax reform. the thing that would unite the republican party is for him to come forward with a tax reform package that cuts the corporate rate, that has a repatriation program to bring capital back to the united states and simplifies the personal income tax code here 10, 22, 33 k. read a lot of credit and reductions. you get 100% of republicans to vote for that. probably moderate democrats to come along and the wind would be progrowth. the president has the bully pulpit. he has to a certain extent controlled the agenda, drive the agenda and that's where it comes a bit of a problem.
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stuart: the legislative schedule as first he fixed upon the care, repeal it, replace it. did you do tax cuts. that's all a popular part of this program. but that program could be delayed significantly because of the political turmoil we are seeing because of his tweet and because of the leaks. the leaks and to tweet are getting in the way of getting america growing again and i don't see what you can do about that. >> well, he walks into the punch little bit by leading off with the border issues and trade with mexico and canada. the two most popular things he wants to do our tax reform program, progrowth tax cut and reforming, replacing, repealing obamacare. he's got the right thing. as outlined in a speech regarding obamacare would've been very popular. you keep portability, preexisting conditions, keep
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letting people keep their insurance until they are 26, the gipper did the employer mandate, get rid of this thing that says employers have to have this mandate for everybody who works more than 30 hours a week but obama put in was very destructive. you have to control the agenda. and he is kind of takes the bait of little bit when the democrat like to make excuses for their poor performance which has more to do with hillary clinton not going to wisconsin at all and michigan once and instead they want to hang the whole thing on the russians. every time you respond, that makes that the story and he needs to be disciplined enough to talk about tax reform, economic growth, repealing and replacing obamacare was something at her and cover more people and be more progrowth. stuart: thanks very much for being here with us. we appreciate your expertise. either way, trouble with the legislative agenda is beginning to affect your money.
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politics is intruding on your money. we are now dead nearly 90 points for the dow industrials, threatening to go below 20,900. again, that is because there is a delay in the legislative agenda. totally different subject. this is extraordinary staff. huber things are getting worse for them. a special program to avoid the authorities. liz: yes, this came out of portland, oregon. they are under fire for having a toxic culture. uber said we don't want regulators or enforcers in our cars according to reports. similarly a secret software to red flag and a ride coming from a government regulator or enforcers. in other words, to stop secret thing operations. as in investigations of drivers harassing passengers. uber said we don't want this. you have to be a bona fide person -- a bona fide passenger who wants to uber.
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trade to the software a government regulator and stop them taking rides to spy on uber. trade for the location data, credit card information. there have been secret is underway against uber. uber thing we effectively have the software that blocks rights. not supposed to do that. but the valuation of depression. stuart: i guess it does. i want to come back to you for more. we are expecting the president to sign the revised executive order and immigration. this is the new one to replace the old one block old one blocked in the quarter. but the new one? liz: iraq is not on the list. here you will be singled out for an indefinite van. it's bundled in with the other five countries. they will be 120 day suspension for refugees from syria. though priority to religious minorities. the thinking was that the crèche
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is coming to the u.s. stuart: i'm sorry but the problem with that. christians are the worst and most persecuted minorities they should be given special status to come to the united states of america. the border would say no u.k. given preference. don't like that the thank you, lives. the dallas of 20,925. after the break coming up, nigel farage, the man behind the british exit from the european union. what does he think that angela merkel's visit to the european union, she calms next week. -- comes next week.
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liz: a major crack down on white house leaks. stuart asked a judge andrew napolitano about a earlier. here's what the judge had to say. roll tape. stuart: they've got the information on all those digital phones. >> someone somewhere to your point decided what to think. stop trump's complaints about leaking are driving him crazy. and properly so it would drive anybody crazy. it is selected concealing and selective revealing. it is the intelligence community manipulating the president of the united states, taunting and infuriating him.
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trained to blow up the day looks like the tribe rally is on pause. now we are down 85, 20,920. here's some news this morning. the white house is now taking bids to build the trump border wall. i want the numbers to come in their bidding? trend for more than 330.
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remember the cement company in mexico. now we have at least 15 companies owned by hispanics. 19 companies overall hispanics and women. so $21 billion could be at stake. that is the outer number. stuart: to repeat the news in mexican cement company. they do have plants in america to make cement and they are ready, willing and able to bid for this and that portion of the wall. transfer chuck schumer wants to block it. we are going to try to block the president's signature thing that he campaigned on and says you need 60 votes, mr. president. that means eight democrats. we're going to try to block it. stuart: president trump needs 60 votes in the senate to get this thing through because he's asking for money to get it through. that's why you need 60 votes. liz: you know the administration strategy could be?
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stick with the defense spending bill. you want to deny the troops money? stuart: it's about time republicans are and how to play politics because democrats do it very well. president trump's needs with chancellor angela merkel next week at the meeting will take place at the white house. come on man, nigel farage. i think president trump will demand picture may spend more money on it military. are we prepared? are you prepared in europe for the rearmament to germany? >> will have got to tell you that germany and in fact most of the e.u. members of nato are not paying their way, haven't been paying paying their way for years or germany spending near 1% of its budget on defense. number 2% will suggest. i think there are some very harsh talks. my worry with all of this is the
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european union are saying to people like germany, and don't worry, spend less. that's less. let's have a european army and ditch nato. i don't believe that is a good thing for world peace. this is frankly the most important discussion merkel and trump can have. stuart: they don't see eye to eye on so many issues today? they just don't see eye to eye. >> they don't, of course they don't. trump himself has described merkel's policy by saying anyone who wants to come will find room for you. trump has called that a catastrophic error. i have to say i'm on trump cited the argument. whenever i personally met mrs. merkel, and my relations with her have not been too good i have to be honest. no, they are not naturally going to be friends. it's a big shock for the germans because the last eight years president obama looked towards germany as being his principal ally as the united kingdom.
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this is big change. stuart: can you bring us up to speed on the two elections coming up. one in the netherlands i think this month for a nationalist guy could win and then there's a big one in france just a little later. what is the state of play in those two elections? >> this data by if his party, the pvp air in the in the opinion polls. i don't think anyone doubts that he will win the election in the sense that his party will get the biggest number of the, the biggest numbers needs. but it's unlikely he'll be able to form a coalition government. what is happening in france is absolutely fascinating. read the pair on the national, a party at never like so much, although i must say she herself in the lead. here's how it works, guys. it's difficult to win this to americans. but there is a first round double the about 14 candidate in
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the top two goes through to a runoff which will take place in may. it will be against either, possibly the french prime minister although he is dead allegations of corruption worth her against macron, who like mr. trudeau from canada is sort of a pretty boy without much legal experience. but what i think it's going to be. a more just be a battle of personalities, but a battle of ideologies. they support the euro, united states of europe, european army. the penn believes an independent. it could be if that's the runoff, the most important democratic election the west testing are many, many years. trained to give me a prediction. six months from now the european union more shaky than it is now because of those two elections? >> you know something, it even
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if le pen doesn't win outright, she will when because she will shift the center of gravity of the whole european debate in france. the european union is dying before our very eyes. the only question is how long will it take. stuart: nigel farage, utilitarian seat and have often been right. we appreciate you on the program. i've got to do with this real fast. it's fascinating. working longer may increase and improve your health. so we are told he lives. liz: a database based in europe with retiree fare, they found out if you stop working, within three years, both your physical and mental health could decline. they are effectively saying people should, if you're retired, continue to work. it is less money spent on you for health care, many medicare, but they haven't had the sites at eeoc and ageism in the
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report. stuart: thanks, liz. fascinating. i'm staying right here. check the share price a snap. a wonderful run last week and 6% today. you the viewer are sick and tired of us talking about snap. what you are saying about this is maxed. next. how's the new project going? check it out. lights. meeting configuration. blueprints. call hruska. we've gotta set up a meeting. sure. how do you spell that? abreu, albert, allen, anderson c, anderson r... you know what? i'll just tell him myself. door. andrade... see why 3,000 companies a month are switching to vonage.
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stuart: some of our viewers have a problem with our coverage of snapchat. let's hear this from cheryl. i am sick of hearing your show blather on and on about it. i change the channel to where i can find real news rather than some ipo that your foolish producers are suffering you into covering. that was pretty strong. this came in for macs. enough with snapchat. it is more useless than twitter and that is saying something. are you going to defend our coverage or attack it? liz: i'm going to defend it. i think the viewers are really smart. i guess i should've been more explicit about it and i made a mistake there. but we are doing the same blood type as with snapchat. is it a metaphor for the dramatic run-up in the rally? these guys come in with a billion dollars a month is over two years and no profit, so a user growth.
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these two silicon valley started on the outskirts guys, are they taking advantage of the trump riley coming in now. i think it's a metaphor. i saw it as a metaphor in the market. the jazz about hitting its eighth birthday almost. stuart: i found it fascinating with a date value of 20 to $30 billion on an app which is specialized in disappearing pictures. there's nothing to it. which you can say the market was that tabular because of that. liz: you said it exact right. it's a giant app, just like facebook is a giant app and so is twitter. facebook is valued more than chrysler, probers or apple. stuart: it is valued the same as fiat chrysler. liz: may be doubled. stuart: wind blew in last week that's where it was. that's astonishing. we are a financial program. you've got to cover stuff like that. you may not use that chat.
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the market ran that thing out. that's why we covered it. and we will be back.
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stuart: you have to worry about the president's growth agenda is under threat from republicans, yes, the republican party is split on two key issues. first the replacement plan for obamacare. it's in a pitch battle with speaker ryan. they cannot agree and the dispute is spilling out into the public which makes the divide even worse. the second issue is tax reform, again, a split among republicans. at issue, the border adjustment tax, got to have it says one side, politically impossible says the other. this is another split. we can argue all day long about this plan or that, but at the end of the day, republicans must come together without unity the whole agenda starts to slide. democrats will do anything to stop, block and delay the media
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will cheer them on which means it's all hands on the republican deck to get this thing done. there will have to be a lot of back horse trading and degree of compromise by the president's political party. the whole hour of varney & company is about to begin. ♪ ♪ ♪ >> do you know how i knew this this is a cdc, because steve forbes told me it was, ladies and gentlemen, it is indeed, acdc, i thought you might like it. the dow at the low of the day, ladies and gentlemen, we are down 93 points as we speak. that puts us back to 20,900. that's where we are. look at this headline from "the new york times" which is finally
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noticing the trump rally but still manages some cold water all over it. the headline reads, stocks are up 5% under trump, so how long will the rally last. way to go, boys, one of the best rallies you have ever seen in your life. steve forbes mention and i want to talk about the split of republican party of replacing obamacare and tack cut. if they can't mend that split, we don't get a tax cut and we don't get the president's legislative agenda and we don't get growth in the economy, what say you? >> i'm surprised the new york times by the way didn't use the news fake rally. stuart: that's right. >> they've got to specially on the tax side drop border tax cut and on the obama side they are going to have to realize they will have safety net in there or
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get killed politically. the best way to do is having high-risk pools. stuart: they are miles apart, steve. it's upsetting the market, the gross agenda. >> you don't have to cover those with tax credits. help those who need the help like we do with food stamps with food. you don't give everybody food stamps, those who need it, get it. same thing on health care r. stuart: are you going to get the freedom caucus in the house to agree to that? >> i think so if you don't make this a real entitlement going specifically like foot stamps to people who need it and i think they will come along and the prospect as you alluded as samuel jackson said 200 years ago, the prospect of a focuses mind wonderfully. the political troubles they have, the inside government attack on the trump administration, they're going to pass something.
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stuart: nothing so concentrate the votes -- >> they didn't have video. [laughter] stuart: whatever you say. steve, more from you later. got it. here are the big games. i'm going to start with snap, now down 8%. remember over the weekend baron said the price is not justified, actually baron said snap, $27.28 a share is ridiculously valued. how about that? investment firm like in snap shares to a lottery ticket and down it comes. 8% down after a 60% gain last week. goldman sachs says, get out there and sell go pro, a lot of people are doing that. it's down to all-time low of $8 and 20 cents a share. ubs places, the stock is up 1.1 and a half percent. 141 on netflix.
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next case for steve forbes, china has cut its growth forecast for the future. isthat having any impact on us whatsoever steve or that's something that appears in the media? >> some people have recognized that the growth numbers are fake or not totally reliable so with this news is no news. i think the market has factored that in. stuart: fake news from china? not affecting our markets. [laughter] stuart: it is down 80. the trump administration is about to unveil the president's new executive order on travel. we have breaking news on this refugees being investigated, possible ties to terror. what do we have on that? >> 300 refugees now in counterterrorism probes. remember there were 900 plus ongoing fbi probes going on? now 300 are being -- possibly came to infiltrate or
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radicalized when they -- as they came here and they stayed here. stuart: 300. that's just out moments ago. i have not heard that before. >> here is the glitch, president obama said we do have a rigorous exhaustive process. what they're finding when they were screening refugees, they may not have been looking at the computer attachments which could have arrest records, cell phones or address records for people who they're in contact with. president trump is saying it is not exhaustive, we do need extreme vetting so the computer glitch could have let people in the refugee flow into the united states who could be in one of them contact with isis leader. >> why don't you just go on google? stuart:ic they wanted them in. look who is with us? welcome to the program. >> good morning. stuart: you heard what liz just
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said, your first reaction. looks like 300 refugees that came to this country were not properly vetted. >> probably a conservative number. i've been on this show and others saying this whole thing is fraud, you know, super vetting that the obama administration did. that was an absolute total joke and -- that number doesn't surprise me at all. stuart: so president trump and candidate trump were flat out right. >> absolutely, without question. stuart: that the vetting wasn't done. >> at least 300 probed for possible ties to terrorism. >> vetting without looking at what's available in the public domain, it's just nuts. stuart: they vetted them but they didn't look at computer -- >> yes, attachments, computer attachments with more data and more information in attachments, say it came in an e-mail, they didn't look at possibly the glitches, the attachment in that e-mail. stuart: i'm going to say that's pathetic, will you join me?
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>> yes, i wanted to comment a little further. >> i want to talk about fbi director james comey reportedly taking the justice department to be quiet and stop this talk about bugging the trump tower, your comment please because you're an fbi guy. >> first of off, if there was a court order, i mean, those are hard to come by, you need a lot of probable cause and it's a matter of record and the intelligence doing investigation can see if there was such an order, they can see what the affidavit was. the fifth column in the united states, we discussed. it's obvious, i mean, it's the media, it's the democratic party, it's all those criminal operatives, we saw in podesta emails that gets paid to disrupt things and they also probably, i don't know for a fact but they probably also -- and i warned
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the trump administration years earlier, they are going to follow with 100-dollar gismos and look at data, this isn't the government doing this, this is basically a bunch of thugs hired by the democratic party that not only disrupt things but they do all sorts of clandestine things like this. stuart: that his trump tower was bugged before the election, what do you make of that? >> i don't know, but it's pretty easy for the intelligence committee to figure that out. stuart: the administration went to the -- to a federal judge and said, we want to surveil the trump campaign and the federal judge said, yes, so evidently -- >> that's what's being said. i don't know definitively that's that's true. but without question, attorney general of the united states with no staff.
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that's by absolute design. you have most of the agencies without senior staff and you've got all the holdovers and you have obama a week before the election telling the nsa that they can disseminate all of this information that's never, ever been disseminated, you know, a need to know thing. it's not just disseminated. now you have all the multiple agencies run but democrats that has access to this, i hope that has ended quickly because that's the basis of the problem. you have donald trump being attacked from 360, from everything. stuart: from within. >> i don't know how much is on staff. so many people that have tenic tenicals. stuart: get that blood down. >> i'm fine. stuart: we have done digging
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into the official numbers. look what we found out, that the percentage of the u.s. labor force that is part time is nearly one and five. how is that for a number. the full report in a moment and we will go over it for you at ane there are certain things you can count on, like a tired dog is a good dog. [ dog barking, crashing ] so when you need a dog walker or a handyman, we can help you find the right person for the job. discover all the ways we can help at angie's list.
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stuart: how about this. according to bureau labor statistics 17.2 is part time. most of those folks want full-time jobs but can't get them. peter joins us right now. this is obamacare, isn't it? isn't that what forced these people into part-time stuff? >> it's part of it.
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you don't want people more than 29 hours at week if they're clerking at william sonoma. also it's things like the mayor of the city of new york we should be paying people who hand you a hamburger $15 an hour and vote for chuck schumer and all the rest. once you learn how to do in new york, you apply it in nevada where you are paying 10 bucks an hour because you know how to do it. a lot of this is regulatory imposed but not obamacare. stuart: if you change obamacare and rules of the regulations board, maybe you get a shot of getting people to full-time work and fewer to part-time work, is that a fair assumption? >> that would be fair, it's going to be the place that's the
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most ideological in the government. stuart: is it, really? >> yeah, not people who collect the numbers. the bureau that collect numbers. go look. it's the bernie sanders' website. stuart: i will remember that. trump's growth agenda, i say it's threatened by the split among republicans on obamacare and on tax cuts. i think this legislative schedule could be delayed because of that split and because of political turmoil, what do you say? >> i think you're absolutely right on that. trump has lost on two things, the first is he's allowed the situation to emerge where he has to pass health care before he deals with taxes. that could have been circumvented, because of the splits inside the party, conservatives versus moderates he's vulnerable to the democrats stalling it out to august so
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nothing gets done and what's more, although obamacare would collapse on its own, now trump will get the blame. that's all that said, he did this last week with the tweets, certainly doesn't help him. absolutely does not help him. stuart: do you think that's why we have this -- i'm calling it a pause in the trump rally. we are down 70, 80 points at the moment. do you think it's politically turmoil? >> absolutely. you know, i'm not a nobel laureate when it comes to politics, all of these things are happening, i have to believe the people that trade and the people that advise people that trade and worried about impacts of political development are starting to figure out that the trump economic plan might not happen. now, we are still better off than hillary clinton as president because she would have built that further, mr. obama's problems.
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she would have created more problems. what i'm looking at is the next two years until we have a mid-term election not getting much done. then watch out, democrats, with all the democratic senators up, i don't think the democrats are playing this smart at all long-term, but for the next two years they are going to get what they want. stuart: okay, we hear you. peter, thank you so much for joining us. what do you make of that, steve? pete is agreeing exactly with what you have to say. >> absolutely. the republicans are going -- the mid-term elections coming up, they may get gains in the senate but they could lose the house if this economy is not back on track again. and that's something why they've got to put this border tax aside, pass the tax cut, get together and point out on health care, get it done and make it retro active because if they don't, they'll pay a severe price. stuart: sums up very nicely. well done, steve, thank you. if you blinked you might have
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missed it but varney & company made first appearance on saturday night live. roll tape. >> mr. trump spoke to vladimir putin. >> republicans have blocked -- >> they have to get their act together
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stuart: this year 2017, this is the tipping point for america's retailers. now, liz, i think they're saying the tipping point comes this year because they have more to more toward online sales and fewer and fewer people in the stores themselves, so who does s&p says is in trouble? >> the names are pretty amazing. it's not just gnc holdings, we talked about them being in trouble, payless, it's also j. crew, anaheim -- neiman marcus, they have a lot of debt, so dillard's is on the list, staples, whole foods, kohl's. defaults are doubling than average. we could see insolvencies. stuart: i don't know who is
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going to take space in a ghost mall. i can't see it. >> what you're going to see more and more boutiques, retailers that have a niche, may not last long but the big department stores like sack's. creative destruction. destruction part as i can testify from the print industry, not so easy to go through. stuart: it really is changing the face. >> it's so much fun to go on. stuart: steve forbes is saying that the online shopping is getting better and better. click, done. i'm getting lazy.
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people don't go to. >> this is entrepreneurship. >> clinics, health care and the like. that's what -- why entrepreneurship is so wonderful. stuart: thank you so much. dow industrials 72 points. please remember this is the live action presidency, very soon your are going to see secretary tillerson and kelly along with attorney general sessions announcing the new and revised travel order. that should be coming up shortly and we will take you there.
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stuart: political turmoil in the extreme in washington. and i think that that threatens president trump's growth policy, put it like that. also a split amongst republicans which also threatens president
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trump's growth agenda. mercedes sclapp is with us now. let's first deal with the republicans. i don't think they have their act together. i think they are split and this really does threaten the president's agenda. i know you're nodding your head. i don't think they will. i think they have an up still struggle. you say what? >> you're really down on them. i think the republicans have been so long in the position of being in the obstructionist party. they had eight years of battling president obama. one thing of the nature of the republican party and leaders is they like to be individualistic, believe me, they have an opinion. they're not as lock step as the democrats. despite the differences that we are seeing play out amongst the party itself, recognize that their political capital is limited. they have a mid-term election in
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2018, political consequences would be great, stuart, if they are unable to maximize the next -- in the next legislative during the legislative session to push forward repeal and replacement of obamacare and move forward on tax reform. two priorities for president trump as well as the gop leadership. stuart: what was it last week or the week before, they were star of the stage there at the convention. >> right. >> you met all of the politicians, you know them all. you are right on the inside. i want you to give me your judgment, your honest judgment. do you think that we will get obamacare repeal and replaced and a tax cut deal signed by august as treasury secretary mnuchin told us, is it going to happen? >> i think it's got to happen. stuart: that's different. that's different. >> i think it's got to happen and i think where speaker ryan and president trump -- this is where president trump is going to have a very critical role to push these republicans along, to
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bring them into their office, to negotiate the deals with them because here is the deal. in the senate alone they cannot afford to lose more than two senators, right now the way it's being played in obamacare, cruz, lee and paul being very vocal on this obamacare. it does present a problem for the republicans. i do believe that under speaker ryan and mitch mcconnell, they are going to bring the troops along. they recognize that there's a high-risk associated to the fact that they've got to get these things done and they need a united party to accomplish that. >> i think the democrats whole strategy of block, stall, delay and go after jeff sessions, i think it's working at this point. look, i think they are delaying things. >> oh, no. >> no? >> i think they are. ic you are seeing this with key executive positions that require senate confirmation.
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what we know right now that they have only confirmed 18 of over 500 positions that are presented, of course, they have nominate that had many. actually there's two dynamics going on, stuart, there's the fact that you do have democrats who are boycotting committee hearings in terms of not pushing forward on some of the senate confirmations at the same time at the white house it's a bitle of a bottleneck, they are vetting the individuals, they are getting the people through the process but it's been very slow-moving. the democrats have been effective on becoming the resistance or obstructionist party. that's all they've got. that's the only political capital they have left. stuart: i'm still in the skeptical column. if you said to me, yes, stuart, yes, we will have a tax cut and repeal of obamacare by august, if you said, yes, we will as oppose to, oh, we've got to. >> yes, with exclamation point.
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i think the way president trump works is he expects congress to move along on his agenda items, i think speaker ryan and mitch mcconnell are going to try to bring together these effective coalitions and, you know, i think you also have some of the senate democrats in battleground states, stuart, who might have to vote with republicans. what an idea, bipartisanship, something we haven't seen in washington for a long time. stuart: i'm beginning to feel a little bit later. come back soon and reassure me again. next case. check this out. former attorney general loretta lynch released a video. our rights are being trampled and we need more marching in the streets. we will show you that. that's the full video right there. we will show it to you. judge napolitano is here. first of all, regardless of our interpretation of what attorney general lynch had to say there, what rights are being trampled as we speak?
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>> i really don't know of what she's speaks. i think she was referring when she referred to blood to the civil rights marchs in the late 50's and early 60's where police were resisting which by today standards would be lawful marching and they used violence to do so. she can encourage the civil rights march. she can even encourage lawful under the first amendment if she wants, but in terms of the answer to your question -- you have to ask her. maybe the rights of immigrants from the six affected countries once the president signs the order by the way has signed it, waiting for the exact text to be released any moment now. maybe she's referring to those people's rights, by definition they're not americans. stuart: they don't have rights. when i was trying to emigrate to the united states did they block
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you. >> socialist educated. [laughter] >> educated by socialist professors. [laughter] stuart: the president has signed executive order and we have details on the new travel ban, whatever you want to call it. what i have -- iraq is no longer on the list, there's protection for legal residents who may be out of the country and want to come back in again and there's no restriction on syrian refugees. >> well, no indefinite ban. stuart: but we can't be in favor of a religious minority like christians and jews coming to the united states. that i find appalling. >> counterintuitive as that sounds why can't we provide refuge by a minority?
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a judge anywhere will find that opening and drive a truck through it. you are making decisions based on religion and afirst amendment prohibits that. on the other hand, and i haven't seen this. i have just seen -- 15 pages, this is not the executive order, this is the government's q&a and summary. i would need to read the text itself coming momentarily and appears as though they have bent over backwards to avoid the type of pitfalls into which they fell with the four written decisions against them, brooklyn, virginia, seattle. stuart: you keep out people who are being generally persecuted because of their religion? >> let me tell you a deficiency in this which will make your blood boil more. a measure necessary to preserve the security of the country, doesn't take place for another ten days. what the heck, what emergency is that? stuart: relearned that 300
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refugees are investigated with possible ties to terror. >> 300 out of 900 fbi probes, 300 let in under obama administration are being investigated for terror and there was a glitch they discovered. in other words, when they were vetting the individuals they didn't check possibly did not check computer attachments. stuart: that's a glitch? >> arrest records, e-mail or phone contacts. stuart: that's not a glitch. >> i don't think that's a glitch either. a vital importance to insulating the executive order. one of the complaints that all four judges made was how did you pick these at the time seven and now six. the justice department lawyers couldn't give an answer. the best they could give is well, the obama administration agreed, they picked them as well. by articulating the existence of
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300 people in the united states being tracked by the fbi who came from these six countries in the past two months, there's your rational basis for barring people from the countries. stuart: i did not know the 300 people came from the six or seven countries. >> i heard that they were from those countries. stuart: my detailing of what this order spells out, do you think that it now passes court muster? >> i think more bullet proof than its predecessor. if you have a valid visa, it is valid, it's not removed retro actively. you have green card you can come and go like any american citizen. stuart: i want to take you to capitol hill. >> vital measure for
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strengthening national security. it is the president's solemn duty to protect the american people. with this order president trump is representing his rightful authority to keep people safe. common sense dictates that we continually reevaluate and reassess the systems we rely upon to protect our country. while no system can be made completely infallible, the american people can have high confidence we are identifying ways to improve the vetting process and thus keep terrorists from entering our country. to our allies and partners around the world, please understand this order is part of our ongoing efforts that radical islamic terrorists can exploit for destructive ends. the state department will coordinate with other federal agencies and implement the temporary restrictions in an orderly manner.
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our embassies and consulates around the world will play an important role in making sure that our nation is secure as it can be. and the state department will implement the provisions in this order that allow for the admissions of refugees when it is determined they do not pose a risk to the security or welfare of the united states. upon the president's initial executive order issued on january the 27th, the state department's counselor affairs and diplomatic security offices immediately undertook a review in coordination with the department of homeland security to identify additional measures that would strengthen our vetting of those seeking entry to the united states from seven-named countries. these early efforts were concentrated on iraq. iraq is an important ally in the fight to defeat isis. with their brave soldiers fighting in close coordination with america's men and women in uniform.
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this intense review over the past month identified multiple security measures that the state department and the government of iraq will be implementing to achieve our shared objective of preventing those with criminal or terroristic intent from reaching the united states. i want to express my appreciation to prime minister alibadi of iraq for positive engagement and support for implementing these actions. the united states welcomes this kind of close cooperation with countries in every region of the world who share our commitment to national security. this revised order will bolster the security of the united states and her allies. now, we spent the morning briefing the congress, the press and we will continue to talk with key stakeholders this afternoon. experts from the department of homeland security, the department of justice and the state department hosted an hour-long call with the media on
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this topic this morning. our collective teams will continue throughout the day to follow up with the congress, the media and stakeholders to answer your questions. i will now turn it to the attorney general for his comments. >> thank you, mr. secretary. and good morning to all of you. one of the justice department's top priorities is to protect the united states from threats to our national security, therefore i want to discuss two points, first the national security basis of this order and second the department of justice's role in defending the lawful orders of the president of the united states. first, as president trump noted in his address to congress, the majority of people convicted in our courts for terrorism-related offenses since 9/11 came here from abroad. we also know that many people seeking to support our commit terrorist acts will try to enter
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through our refugee program. in fact, today more than 300 people according to the fbi who came here as refugees are under an fbi investigation today for potential terrorism-related activities. like every nation, the united states has a right to control who enters our country and to keep out those who would do us harm. this executive order seeks to protect the american people as well as lawful immigrants by putting in place an enhanced streaming and vetting process for visitors in six countries. three of the nations are state responsors of terrorism. the other three have served as safe havens for terrorist countries, countries where governments have lost control of their territory to terrorist groups like isil or al-qaeda and its affiliates. this increases the risk that people are admitted here from
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these countries may belong to terrorist groups or may have been radicalized by them. we cannot compromise our nation's security by allowing visitors entry when they -- their own government is unable to provide information we need to vet them responsibly or when those governments actively support terrorism. this executive order responsibly provides a needed pause so we can carefully review how we scrutinize people coming here from these countries of concern. second, the department of justice beliefs that the executive order just as the first executive order is a lawful and proper exercise of presidential authority. this department of justice will defend and enforce lawful orders of the president, consistent with the core principles of our
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constitution. executive is empowered under the constitution and by congress to make national security judgments and to enforce our immigration policies in order to safe guard the american public. terrorism is clearly a danger for america and our people. the president gets briefings on these dangerous and emerging threats on a regular basis. the federal investigative agencies, the intelligence community, the department of state, the department of homeland security and the united states military report to the president knowing the president would best possess such extensive information, our founders wisely gave the executive branch the authority and the duty to protect the nation. this executive order is a proper exercise of that power. now, i will turn things over to
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our able secretary john kelly of the department of homeland security, john. >> thank you, mr. attorney general. the secretary of state and attorney general, i welcome you today. my comments will be relatively brief. last week the homeland security celebrated anniversary first opening in 2003. the secretary was established due to devastating attacks in september 11th. those attacks taught us that we could not take our nation's security for granted. homeland security must be our top priority and that we need to overcome collective inability to take -- to connect the dots of intelligence and arrange them into a more comprehensive picture of the threats posed to america and our way of life. but much has changed over the past 14 years both in the world that's more dangerous and dhs
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which is much better. the fact remain that is we are not immune to terrorist threats and our enemies use our own freedoms and generosity against us. today president will make america more secure and address security of american system. we must take rigorous review of undertaking of rigorous review of immigration vetting programs to increase our confidence in the decisions we make relative to visitors and immigrants that travel to the united states. we cannot risk the prospect of level act using immigration system to take american lives. this executive order is prospective in nature, it focuses on preventing the entry on new foreign nationals from six designated countries. accordingly it's important to note that nothing in this executive order affects existing lawful permanent residents or persons with current authorization to enter our
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homeland. unregulated unvetted travel is not a universal privilege specially when national security is at stake. the white house worked closely with the department of homeland security, department of justice and the department of state to create an order that addresses previous concerns and protects the homeland and every one of our citizens. the men and women of the department of homeland security like their brothers and sisters throughout law enforcement are decent men and women of character and conscious. there are no less so than the governors of our states and territories, of our senators and members of congress, of our city mayors and various advocacy groups. these men and women are sworn to enforce the laws as passed by the united states congress and would be in violation of the law in this if they did not do so.
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we do not make the law but sworn to enforce it. we have no other option. we are going to work closely to implement and enforce it humanely, respectfully and with professionalism but we will enforce the law. i want to thank the president for his leadership on this issue and for his steadfast support for our important law enforcement security and counterterrorism mission. again, as previously mentioned, i have spent much of the day today on the phone with members of congress, the leadership explaining the ends and out of this eo so there should be no surprises whether it's in the media or capitol hill. thanks very much, thank you for your time. stuart: they brought out the big guns, executive order on travel restrictions, what you just saw was secretary tillerson, kelly and attorney general sessions all of them coming out making statement on executive order.
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our own judge napolitano has read through it and will make comments on what was exactly in the executive order. you read it, do you think the executive order is more likely to pass muster in the courts? >> markedly so. it's more tempered in tone, more rational in approach, reflects a variety of unique situations that people might be in, those who were in transit when it takes affect, those who obtain visas before january 27th. >> the details are nailed down? >> most importantly for the sake of preventing or avoiding judicial interference, the problem that was raised in all four of the judicial opinions that enjoined last time is not here anymore. that problem was the who, what, when, how and why did you pick on the seven countries. a, it is now seven and b it is all layed out. the danger by chapter and verse emanating from each of these countries into the united states
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and the difficulty of stopping that danger using the system in place when donald trump became president is articulated in the order. the old other is rescinded which is a brilliant move legally because that will trigger the dismissal of the 48 lawsuits filed against the president and against the federal government, only one of which was the case in seattle that made its way to the ninth circuit. stuart: let's not brush pass this because that's important. it's a brand-new executive order, it takes back and rescinds the old executive order and thereby destroys the basis of what some 48 other lawsuits brought around the country. >> yes, it is not retro active to january 27th. in fact, it is compassionate saying if you had permission to enter the country on january 27th and were barred by the old order, come on in. it didn't say come on in, your visa is valid. it was valid then and it's valid
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today. here is the one drawback that i see. this is a political drawback. the president's base has been generated by his arguments that the country's borders are porous, that the problem is immediate, that the danger is right here and right now, this doesn't kick in until ten days from today. so if it's immediate and emergency, why the delay? that's a of legal import because when you argue you must do things for emergency sake. you have a little bit more authority as long as you theat it as emergency. if somebody is an emergency today, why are you waiting ten days for it to take effect. stuart: sounds like a very small caveat. >> it is. i'm trying to be brutally honest with you. by in large, far more bullet proof, far more thoughtful, far more reflective of the rights of people coming in and federal law as it existed when donald trump became president than the proceeding order.
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we have 300 people admitted in the united states under the refugee program, 300 people are being investigated for ties to terrorism. >> yes. stuart: that's one-third of the 900 people in total who are being investigated. >> correct. all ongoing in all 50 states according to director comey and they came to infiltrate or they were radicalized here. so the glitch we were talking about before that maybe the intelligence didn't check attachments for these refugees that had arrest records, if they had that information, they would have been rejected. stuart: president obama could not legitimate i will say that they were vetted, they were not. >> no, he was just using words for political purposes and now he's been called out on it. don't expect the mainstream media to emphasize.
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stuart: thank you very much. there will be more varney afters
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. .
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stuart: introduce you to the luxury $100 bottle of water. $100 for this. icebergs of norway. worth every penny, isn't it? we'll find out how good this stuff really is. each of us around the table has two cups of water. one contains the $100 water. one contains the new york city tapwater. i'm first. we'll figure out which one is which. liz: ding. stuart: i got that. okay. i think i know. liz: that one. okay.
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[laughter] >> just hope there are no bear droppings. stuart: which one do you think is the $100 water. that one? put your hand on it. liz: okay. stuart: go. stuart: put your hand on the $100 water. the answer is on the bottom of the cup. so i picked right. i picked $100 water. liz: i picked wrong. i picked tapwater. stuart: you will never live it down. >> shows how bad tapwater is. stuart: i don't know whether anybody would actually by a bottle of water for -- you're drinking the $100 water. liz: i'm laughing. viewer can see this was the $100 water. stuart: who would go out and pay $100 for water? is it just -- >> bad enough to pay for champagne. liz: doesn't taste any different.
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>> new york tapwater has distinct flavor. it is good for making coffee. stuart: i have to say even more clear this is the $100 water. it is -- >> i hope they sanitize it. liz: you have a discerning palate. >> i do have interest. i do indeed own a tree farm in upstate new york. very close to one of the three reservoirs which service new york city for water, supply water. water that flows through my farm goes to that reservoir. so in fact, when i'm drinking this stuff, tapwater. neil: i'm drown farm. it is still not as good as the $100 bottle of water. liz: i loved it. stuart: i'm reliably informed, neil cavuto is dying to get in on this with some snide comment. go ahead, neil. neil: no, no. i'm thinking. i know you have a farm. and i usually like to go to the next leap here, and picture you here working it and i'm interest
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having trouble. maybe like a reagan ranch ink thing. you're clearing brush and all that stuff. what do you do? stuart: you want comment from me? neil: yeah. stuart: i grow hardwood timber, black kerry, red oak, hard maple. i do a lot of bush clearing. trail maintenance. i take down trees that are dead i burn them. that is what i do. that is a lot of fun. neil: know cow, livestock or goats. stuart: no animals. a lot of cat to keep the mice down and snakes down. neil: that completes the picture. stuart: you're a welcome guest anytime. i want to see you in bib overalls. neil: you do not. you do not. i heard of this thing called flannel though. i picture it, stuart. you're just a nice guy. working gentleman's farm. way to go. i'm thinking goats and cows. stuart: you're taking up your


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