tv Varney Company FOX Business June 25, 2014 11:00am-1:01pm EDT
past, look at netflix and hulu paying major licensing fees to get this content on to their flat form, they are not charging much either so it will be interesting to see how the companies react and what do they change. maria: there are implications beyond this. that will do with force, time for "varney and company," have a great show. stuart: thank you. good morning, everyone. america's economy is shrinking fast and you can't blame it all on the weather. the word recession is making a come back. $100 million gets you a meeting with treasury secretary. $50,000 is what the irs will pay for giving conservative donors lists to liberals. that is all, 50 grand. the setback for the tea party in mississippi and oklahoma. and monitoring robots inside your body, all from google, it
is everywhere. get this, 167,000 people placed a bet that they would be -- there would be a fighting incident. they won. "varney and company" is about to begin. the big story of the morning was the shock of the morning. the economy contracting at a 2.9% annual pace in the first week and month of the year. the fastest decline in five years, fastest pace in a non recession period, in 58 years. however, the stock market is up. dow jones industrial average 61 points higher. charles is here. he's back, the white house is blaming the weather and less spending on health care. i you buying that excuse? >> health care spending impacted
personal consumption which was down dramatically, one of the biggest areas where there was an adjustment. if you -- obamacare heard this number and the darker cloud over what happens in the future. rich: the success of obamacare hurt the economy. charles: all the enrollee's us seriously ill. this is expensive. stuart: if you have a contraction like that in the economy, you have a doubt that is up 61 points. charles: rear view mirror stuff hints for the future that didn't get a lot of press this morning on the durable-goods side. businesses spending more money on big time items like factories, also purchasing services, managers. the market is up 63. the highest in four years. if businesses spending big time money, they see something government data hasn't seen except remember yesterday we had
better than expected confidence and housing number we down 100 points. stuart: we're $16.78. look at the s&p, record highs recently. as of right now we are up six points at $19.56, that is not a record high beware of 6 points. gold staying above $1,300 an ounce barely budging today, $13.19 is your price. this is the yield on a ten year treasury, all the way down to 2.54%. when you get a lousy gdp numbers a hint is that the economy slows down, down go interest rates. i have a big name, you know it, general mills is down 3%, a big drop. disappointing sales. struggling with serial and yogurt sales down 3%. watch out apple and amazon, google is expected to unveil box
that its developers conference that starts in the next hour. google and another 6 points at $5.78. mcdonald's testing and ordering apps. some see this as an antidote to the $15 minimum wage. we will see. mcdonald's at $101.48. now really big winner, binds and noble, that is a surprise to me. tell me how much it is up and why. nicole: a new high is what we should start off with, it is of 7.5% and $22.13. this is on the news that by the end of the first quarter, as they will in fact be shredding their retail business and of course the ceo saying this would bring the best shareholder value, stock jumped on the news of this split which is why you are seeing this today. you know the nook has had trouble, revenue dropping for the nook and everything digital the goes with it. those have been dwindling so the separation ultimately should
bring more shareholder value. stuart: thanks, billionaire environmentalist tom spier's pledging $100 million to democrats who support climate change legislation. than the one hundred million dollars bottom access with none other than the treasury secretary, jack lew will meet with him to talk about the economic impact of climate change today. robert bryce is in manhattan and joins us now. am i being a little crass and crude? $100 million buys you a seat at the table with the treasury secretary? i am being acidic. how do you see it? >> i would be the last to call you a cynic. what is remarkable about this new reports that hank paulson and michael bloomberg have released, just yesterday called risky business and how the white house is framing this is it is more a message from the climate catastrophe but there are no policy answers or solutions, no
hints as to what exactly they want to do with regard to climate. the journal quoted the ceo or the chairman, gregory page who said he signed on to be part of the project, specifically because they didn't offer any solutions. is a remarkable turn of the events. stuart: this is not an exchange of views. is not a comfortable little sit-down, this is the environmentalist saying are you in line with us. we have $100 million here. we are only going to spend it if you are in line. this is these guys laying down policy to the treasury secretary of the united states of america. that is the way i see it. >> what is clear, when you look at it and you read what the white house calculus is, they clearly see climate change as a wedge issue in the midterm elections possibly to appeal to young democratic voters but what is remarkable to think about what has happened here, just
look at the release of the statistical data last year and compare that to the latest move by the epa who earlier this month released their nuclear power plant and their objective is to cut 700 million tons of co2 emissions from the u.s. by 2013. last year alone, global co2 emissions rose by 600 million tons in one year, global emissions rose by 90% of what the obama administration wants to cut over the next 16 years. stuart: your position has always been that the way we get around this problem, what the environmentalists are proposing will not work, is not worth it. that is your position. you are not a climate change denial. >> the u.s. is leading the world and reducing its co2 emissions. we could in the last ten years over 400 million tons, six times in absolute terms what has
happened in germany which has spent one hundred billion dollars subsidizing renewable energy. the u.s. is showing the rest of the world how to cut co2 emissions and replacing call with natural gas to the extent that it is possible but we don't have any sway over what is happening in asia and the middle east and africa. it is a global warming, not u.s. warming, not u.s. climate change but global climate change and yet we have no leverage with the rest of the world so i find this release of the latest report another example of how the climate catastrophe is trying to instill fear but they're not offering any real world solutions. stuart: we hear you, thanks for joining us. let's get to the irs story. we have the latest fox news polls on that issue. look at this. 76% say they believe irs e-mails were deliberately destroyed. this is not a split along party lines. look at that, 63% of democrats think the e-mails were destroyed
intentionally. joining us from washington is allison bobber. i am surprised that this is such a bipartisan disapproval. i am surprised this issue goes that far. >> i am not surprised. i actually really was not surprised when i looked at this information because any time you are in an investigation you have data go missing or damaged and will always look suspicious and everything about this situation and the questions surrounding the e-mail have defied logic. they said actually we lost six months of her e-mails at staffers surrounding her, that was suspicious. was suspicious the irs didn't retrieve e-mails from a six months backup server and is suspicious they delayed telling congress what happened so when you look at those and couple down those questionable things it is not surprising you see a lot of people -- this doesn't add up to me. stuart: i will tell you why i am surprised.
the issue, the loss of e-mails didn't receive that much coverage in the national media. it is a story that has been ignored yet you still got this bipartisan disapproval. you can't deny there has been no coverage. >> it is interesting because most democrats said this was a non-issue selling is interesting to see apparently their constituents are taking a different view of it so what this shows us is initially may be some people saw this as a political issue, they might be looking at it differently because there are a lot of things that like i said earlier don't seem to add up and for a lot of people they can't reconcile or justify how someone who is chief of that tax-exempt renovation, her e-mails go missing and there is no way to recovery and the irs had to wait months to tell them. anyone can say usually when you are waiting withholding information that is not a good sign so something looks fishy and i'm not surprised people recognize that. stuart: the news of the day they
agreed to pay $50,000 to the national organization for marriage, conservative groups they said the irs release their private donor list to a rival group, a bunch of liberals, they did this treaty is ago and only -- the irs only has to pay $50,000. that is a minuscule amount of money compared to what they have actually done here. >> and most people would say any amount of money is an indication of guilt and i don't think anyone would necessarily be wrong. don't think you could fault anyone for making that assumption because of what we spent the last few minutes talking about, the irs hasn't done anything of late to warned people trusting them. people hear about that settlement and even though it seems small land it is small in the broad scheme of things i can't people look at that and they think wait a minute, is this an admission of guilt? we can't blame them if they are going to take them away from this settlement. stuart: we will take an admission of guilt if we can get it like that.
thanks very much, see you later. half the people of detroit not paying their water bills so the city cut 46,000 off, no water. now activist group has appeared to the united nations and says access to water is a human right. america is in default on that. former ambassador john bolton coming up next on that subject. your awkward video of the day, perhaps the year, democrat republican lawmakers joining hands on capitol hill singing we shall overcome to one of the 52 anniversary of the civil rights act. when you see you have to believe me i don't think they really want to be there. certainly not holding hands and singing. watch and listen. ♪ ♪
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change, $13.19 an ounce, the price of oil on is the week, america, will export leavitt, first time in 40 years, $106 a barrel, a little. check the price of big media companies, decision of the supreme court's 6-3, moments ago against imogen lloyd webber. it says that company, aereo, cannot rebroadcast network programs without paying for them. rich edson has more on this. got to run this by you to see if i have got it right. the supreme court says you can't take content from cbs, rerun it, make a profit from it and not give something back to cbs. >> exactly it. aereo argued they were a glorified d v our service and every customer was a sign a small little antenna, a piece of a hard drive space and all they read doing was taking an over the air broadcast signals and
recorded for people. this green court found your of violating copyright law and essentially rebroadcasting it, that can't stand. the obama administration argued in this case. aereo is not a legal entity, what is doing violates copyright law but what we want you to do is to rule narrowly enough on this, don't touch cloud computing. we agree with the solicitor general, the administration and other novel issues not before the court as to which congress has not plainly marked squarely presented they are not going to decide on so leave cloud competing alone. they have this narrow lead and say that business model doesn't fly. stuart: thanks very much, we appreciate that. welfare rights groups in detroit are appealing to the united nations over water shut offs for presidents with delinquent
bills. we brought this to you yesterday. here is what you had to say on our social media page. chris says water is a right, clean water is the bill and you got to pay for it. matt says take buckets to the lake if you want free water. if you went to clean and delivered to your house and that good pressure that costs money. joining us now weighs former un ambassador john bolton, a trivial story here, there is an issue where detroit activist groups go to the united nations, they are trying to shame america in an anti-american forum. what do you say? >> you are on the mark. it is even worse, this is a silly, trivial episode because obviously nothing is going to happen. it reveals of broader feeling on fromemtictis answers they want y orgas aniniolneationsou w a
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to fix it, we're going to see more and more of this as hillary goes into post midterm election mode and declares for the presidency which i think she will do. she will put more and more space between herself and obama. stuart: that was ed klein discussing his new book blood feud which details the growing divide between the obamas and the clintons. not all of you appreciated mr. klein's point of view. roland said, quote, where else could you find edward klein, a dried up right wing lackluster writer promoting a book with about hillary with no sources, on "varney and company". if you watch the interview we did ask about his anonymous sources and he said he has never been questioned about their validity before, never successfully challenged. listen to what former clinton adviser doug shoen said about the new book. are you buying the premise of the book that there is indeed a blood feud between the two?
>> yes, i'd buy it. stuart: he went on to say hillary will run for the presidency and guaranteed she would be the democrat nominee in 2016. let's go to the market, up 57 on the dow and i have a stock that is moving up, a new high you are looking at, very big names stock. they have an improved outlook that does the trick at 126. some primary results to report this morning. a win for the republican establishment in mississippi, senator corcoran defeating his tea party back challenger in a tight run off. mcdaniel not conceding. he is waiting in -- he is weighing whether to challenge the results. listen to the combative speech he gave to his supporters last night. >> they can take some consolation in the fact they did something tonight but once again compromising, once again
reaching across the aisle, once again abandoning the conservative movement. stuart: when he is referring to a lot of democrats who crossed the line and voted for corcoran in the republican primary. that is what they did. new york city what you are looking at is 22 term democrat congressman charlie rangel defeating his challenger who is refusing to concede. charlie rangel has held his seat in congress since 1971. charles is with me, he looks like he wants to say something. charles: what was interesting was charlie rangel and cochrane interjected the tea party as a nefarious organization looking to harm black people and obviously it worked in mississippi but the idea that worked in harlem where there is no tea party presence is amazing and tells you the hatchet job the media has done on the tea party. stuart: successful hatchet job. demonized them. after the break an update on obamacare. more than a quarter of the sign ofs have serious health conditions like diabetes and heart disease so who will pay
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the risk of stroke with pradaxa. stuart: we are still up 55 points despite a negative gdp report but the economy shrank at a rate of 3% in the first quarter, dow is up 40. charles says he will make us some money if you by caterpillar. charles: last time they reported the news was phenomenal particularly for america. construction was up 36% in america, $2 billion, up everywhere except when america and they raised their guidance, really inexpensive stocks used in traditional evaluation metrics and people feel they are chasing it but in a market that
is starting to gyrate and you can't handle those highfliers this is one you want to sock away because i feel good about it. stuart: your downside risk if you buy at $108 where it is now it is limited. charles: worst-case scenario would be a little over a hundred but the upside is this goes along and you put it in a 401(k). stuart: yes you do. i have a number for you. 27% of new obamacare enrollees have a significant health problem like diabetes, heart disease, maybe cancer. joining me is veronica with the wall street journal. 27% have serious illnesses. >> the series illnesses like diabetes, depression, things that need a lot of medication and conceivably a lot of doctor visits. this is a problem because we have this bifurcation in the health-care market, the individual consumer market and
the sick, older people signing up for these health care plans. the younger healthier people are not signing up, sticking with individual plans that have been grandfathered in by obama or they are not going for insurance at all. stuart: does it mean all these people who are really genuine, serious illnesses is going to cost more money to treat them so premiums have to go up within those plans. >> there is no other way unless we have a lot more insurers in the market to spread that cost and increase competition but i don't know how likely is that is so prices have developed but the catch is some of these people are so sick we won't be able to tolerate a 15% increase of 30% to their insurance rates which we are hearing from these insurance companies. >> we increase the subsidies? >> i don't know what the fix is but we needed some call if this is going to continue how do you encourage younger people to sign
up for that? that is the issue. i don't know how you do that especially if you are going to raise prices. charles: another moral argument. people don't want to talk about a lot of these ailments are self-made. people bring it on themselves. people have eaten themselves or lane on the sofa so long it is honestly if we are honest about this, someone with diabetes and other things, people have done this to themselves and their neighbors foot the bill. there is a problem with that at some point. stuart: you will be demagogue, blaming the victim. you are harsh. that is what they will say to you. stuart: like if someone pulled the trigger on a gun and shot themselves i blame the victim and the shooter because in this particular case the person cleaning up is the one who tried to live a better life. if we are not honest about that the whole thing gets out of control. stuart: that is the problem with collectivism. it is a different story, interesting too. a chinese billionaire is feeding
them to 50 homeless people in new york city. the change, he's trying to change the image of rich chinese people, the image being they spend money mostly on luxuries, trying to change that image. he is a recycling magnets and he is giving them to 50 people fancy lunch and promised to give 300 bucks each. he announced the lunch with ads in the wall street journal and the new york times. i know you are trying to say something. charles: remember the late-night tv commercials, sally struthers crying we got to help the chinese, they are so for and hungry and malnutrition. stuart: that goes back a long way. charles: it was in my lifetime and they will all of the debt. what happened? is that red flag? then there never is one. >> this guy is known for his p.r. stunts, seems like an interesting pr stunt and also speaks to philanthropy in china and a lot of chinese people are
trying to figure out what that means. this is a growing market with philanthropy here and abroad and an interesting area for wealth management companies to be looking at. stuart: i want to see the videotape in new york. stuart: it is a boat house, sounds more like fringe. it is amazing. stuart: we will report on that. wait a minute, got to get to this. even if you don't like soccer, i bet you are talking about this, the first time luis juarez bit players on two occasions, he spends -- faces suspension of two games or two years. to you first on this. teeth marks! >> that seems like evidence. there is therapy for this. he is a grown man. why is he biting? this is the real issue. i don't think that is successful. stuart: cannibalism? >> it is not -- as an adult wire
you biting people? stuart: good question. charles: you could have bet on this in norway, 175-1. stuart: 167 people placed a bet that there would be a biting incident and the world cup and they are going to pay him off. stuart: they called on countries. anyone who places a gamble, having a flutter, that is -- i don't know where that comes from. charles: they knew this guy pretty well. charles: it sounds too hot. this is the third time. mike tyson got in the ring i would make a 2-1 he would bite someone. stuart: that is a bet i would take. thank you very much. up next another gee whiz story and this is a real good one. a computer chip implanted in a quadriplegic's brain that allows
him to control his paralyzed hand using just the power of thought. we will see who is involved in this procedure after the break. when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
soon. the developers conference is scheduled for noon. google will announce its set top box to compete with apple tv and amazon's fire tv and multiple stocks or a base for google glass. let's show you shares of google up 1%. diane sawyer is leaving the anchor desk at abc ending five year run as anchor of world news. taking her place will be david york, host of world news weekend. and enterprise reporting. we will see what mcdonald's is testing to let customers get the lines even faster. fast food is on the way, a great story and this something you might want to see. stay tuned.
stuart: mcdonald's is launching that new apps that will allow you to order a big mac before you step through the door. details please? >> they're testing it and have been for months in georgia. the idea is to make fast food faster and to streamline the process but what people i saying is mcdonald's and other fast-food giants are facing pressure to have higher minimum wage, whether the fast-food workers are calling for $15 of the federal government calling for $10.10. eventually they will have to pay their workers more.
if you have an apps that streamlines this process, and to pay more money too. the customers might be more happy and mcdonald's could be saving money. stuart: what was happening is what was predicted. that is if you raise the minimum wage or threaten to technology will step in and eliminate higher labor costs and that is what is happening. >> we have other fast-food giants, panera, t hn. technogy ing in.ell. an enight be ng i uarnkand mu. ndrones ye >> the federal aviation industries in.
and packages with drones. and some literature before hand. and it looks like they're going to look at this is a commercial application once again later in the year. however, maybe there will be some new rules in place for 2015 but for right now the answer is no way, no go. stuart: there is another company which we often call the amazon for moms. i understand goldman sachs, get out and buy that stock. what is happening? >> we will not call it that anymore because they are extending their merchandise. $50 target with a buy rating, they talked about expanded merchandising, marketing, the move into mobile. they are expanding what the merchandise will include including men's loafers and
furniture so they're trying to be a little more like qvc, so the stock is up 10% and it pulled back a little bit. nice move. stuart: thanks very much. check this out. a computer chip implanted in the quadriplegic's brain that allows him to control his paralyzed hand. joining us is a doctor who was involved in the procedure. we are fascinated by this kind of thing. i want to make sure i have got it right. a computer chip in the brain transfers impulses from the brain to this gentleman's farm so he can actually function and move the arm. have i got it right? >> exactly right. stuart: where else will you go with this? how well does it work? take us through it. >> this is the first time we have done this in a cumin. previously sees chips were used to power robotic devices but this is the first time we have
shown that this is more than an application of technology and as we potentially continue to develop this technology, miniature rise it, refine the motions of his more functional, we have to put in a feedback system so that the individual has information about where that link is going. it feels to him like when your arm is asleep and you try to move it and don't have much control. not much can be done but the implications for people with spinal cord injury, strokes is enormous. stuart: how do you connect the chip which is a physical thing? how do you connect the chip to the right part of the brain so the signal goes to the right place? >> that is worrisome because the brain is very dynamic and changes its response to what you ask it to do so we were worried the part of the brain that previously controlled that hand was repurchased. therefore we had to put in a special type of them are i stand before the surgery.
we show the different motions we wanted him to produce and heard him think about producing the same motions and the part of the brain that let up during that segments of the m r i scan is where we place the ship and we also stimulated the part of the brain to see if we were in the general correct location. stuart: this is fascinating. what everybody is asking is how far away are we from a genuine cure for paralysis? can -- ten years, 20 years? >> we are bypassing damaged cord where nothing is getting through. years. i am reluctant to say ten years because i am astonished how quickly this technology is evolving. stuart: we are fascinated to hear it. congratulations, it is a wonderful thing you have done, thanks for sharing it with us. president obama continues to use his executive power to sidestep congress, pushing through his
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stuart: john boehner is considering filing a lawsuit against president obama for his use of executive power. joining me now is an attorney, i want to know on what grounds john boehner would suit? >> john boehner and many members of the house feel the president has crossed the constitutional line and their position is simply that it violates the constitutional framework of the federal government. the executive department is opposed execute the laws, not organically change them. the federal statutes are not treated as a menu of options but the law of the land so the argument goes the president is not following the constitutional mandate, unchanging or organically changing the laws. stuart: that seems pretty clean cut. obviously that is kind of clean cut. it will take years.
new file the lawsuit and it is appealed to, and you are talking a decade, aren't you? >> not necessarily. you are right the federal litigation process certainly does take some time but this kind of lawsuit focuses on of a type of relief called an injunction and courts to rule on requests for injunction in a relatively quick manner. it will take some time, it wouldn't take that much time but there would probably be a motion to dismiss followed by the government. on mainers gun substance that has a little bit of a roadblock on the procedure. substantively i think the examples i there in terms of employment, delays and exceptions under the affordable care act. is there a law that says individual members of congress cannot sue the president would have to be a larger institutional action or something filed by a company called standing. stuart: is that likely to happen? >> depending upon what john boehner is looking at it is a distinct possibility. we are really looking at a very
historic moment here because if the speaker feels he has a hook to hang his legal hat on we are looking at a historic constitutional showdown washington so i think it is possible land he has the substantive argument to make it happen. you have all these examples. it is a distinct possibility. stuart: historic constitutional moment. that is interesting to us. one last one. we had a decision, supreme court will 6-3 in favor of the broadcasters, essentially it seems to me the broadcasters are being told -- aereo is being told you cannot take content from broadcasters, rebroadcast for free and make money on it. you can't do that. >> i think they do. in that instance they have a model where they were saying they were kind of like a personal they the are on the cloud. they were essentially a rebroadcasted, i agree with that. there has been commentary of the decision that it is limited to aereo.
i disagree. this could be applied for a broader context later but as far as the decision today i think the supreme court hit it on the head. stuart: thanks for joining us, come back again, interesting subject, thanks very much indeed. no way you can blame a 2.9% contraction on an annualized basis of the economy on the weather. we are all over that story in the next hour. so far as this is the year without an economy. ♪ ♪ i ys say be thman with the plan but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age.
we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. that, my friends, is everything. and with the quicksilver card from capital one, you earn unlimited 1.5% cash back on everything you purchase.
not just "everything at the hardware store." not "everything, until you hit your cash back limit." quicksilver can earn you unlimited 1.5% cash back on everything you could possibly imagine. say it with me -- everything. one more time, everything! and with that in mind... what's in your wallet? stuart: we are desperate to escape the never ending negativity of the news. iraq is lost. climate change. ouch. welcome to our second hour.
we will to educate the public. ♪ stuart: headlines. here we go. who saw this coming? the economy shrinking. ouch. maybe a bit problem for google glass. you can reach someone's pin code at 150 feet. the irs gives a conservative donor list to liberals. tom stier uses his millions to buy a meeting with the treasury secretary about climate change. dealing with the biter. also known as suarez. a negative beating on gdp for the economy. not a big game, but a little.
here is the real action. it is in bonds. interest rates sinking. 254 on the 10 year treasury. gold, 1324. barnes & noble is a winner. the company cannot pursue a flip. breaking news. reaching a settlement back in rebuildihat afte a judge estioned whe it would be gh m biy for namebr athlet who y mfs?
>>ther a pull out of that agreeme had a call from an attorney not too long ago. a group of people that do not want to participate in this. : the judge does enough money. they will have to pay mo essentially. you me ofselaye them. the cap has been lifted. just happened. look at google, please. the developers conference starts this hour. a setup box expected to be announced this hour. we want to talk about google
glass. criminals can use cameras found on wearable computers like glass to steal your atm pin. all it takes is a quick glance. let me get this right, i have seen you wearing google glass. >> i did wear it. now, tell me your pin code. [laughter] stuart: regular google glass. you could read my pin code. wearing that, you could read my pin code. >> yes. it showed where your finger was touching on the pad. they could see from the shadows where you were touching. this is not exclusive from google glass. much further away.
the association is gone. it is not unique to google glass. stuart: you put a high definition camera on it? seatback broke 150 feet, you could use this algorithm. you would not necessarily strapped it to this right now, but you could in the future. the thing that google says, while you are using this, it is lit up. you know, you could see from far away if someone was spying on you. it is a concern that people have. stuart: you are big on google glass. >> i think that wearables are the way of the future. you need to do that whether someone is wearing google glass around you or not. every time you take a picture
now -- stuart: your mom was doing that for 10 seconds. >> my mom has been snapping pictures of you. stuart: $10 cash each one. google is getting ready to announce cancer detecting nano robots. put them in your bloodstream. literally, in your bloodstream. what do you make of this? is it possible? >> it is possible. by wearing a smart watch or smart tool, when it passes by that, they will be able to read it. we are talking about the movie earlier when they said the guy
down in the submarine. this is real stuff that is coming. probably about two years out. dennis: people at google. stuart: i want to get back to the, i would call it, a brutal reading on the gdp. a 2.9% contraction. this is an annualized rate. they say the weather was bad. they spent less on health care because of obamacare. i can see you shaking your head. >> what is your policy? what if you are -- what is your economic policy? your prices will go higher
because of this. we have to create money. you have to tax more. all of those things are negative. what do we have to do? if we were a corporation, what are we going to do? stuart: slide towards recession. >> you have one arrow. that is to cut taxes. >> a month ago, i said on the show. how are we going to turn this country around? >> we have to cut taxes.
stuart: i have $100 cash. >> i will not make that bad. stuart: all right. back to stocks. individual stocks. general mills. it is down, pretty big, actually. nicole: the sales are branded. that would include green giant, pills buried. that's all weaker numbers. it did not meet the analyst expectations. the profit rose 10.5%. not good enough for the analysts. the other thing that they have, you mentioned yoplait. betty crocker baking products. certainly because they do not need the analyst expectations, that is one of the reasons you see the stocks down.
stuart: those expectations. all right, nicole. the billionaire. meeting with top level white house officials. secretary behind the united states of america. economic impact of climate change. joining us now, mark from climate depot. if i say $100 billion has bought him access to the treasury secretary of the united states of america. >> that is exactly what has happened here. it resulted of democrats climate all nighter where they stayed up all night. this is a billionaire democrat
environmental fundraiser. it is up to the u.s. senate. forcing the u.s. senate up overnight. he is also recruited former treasury secretary and paulson to do an intrusion. part of his risky business name. this is -- stuart: you are from climate depot. some big names in business. essentially, there is enormous, billions and billions of dollars. we will have two pay that bill because of climate change. >> not only am i discrediting, the united nations discredits the notion. try to talk about how we will have all of this extreme weather. the science is bear on every measure. whether talking hurricanes,
tornadoes, droughts. floods, there is no transit for 100 years. on a climate scale, there are no trends. all of these bad things will happen. this is where it gets so off the chart. a carbon tax, it will somehow alter global temperature and future storms. this makes absolutely no sense. carbon taxes, not only would they not impact, they would not impact global temperature in any way. pure symbolism. stuart: you summed it up nicely.
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people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. to stocks are down. why? a report that the export of some unrefined oil. as we refine it someplace else and not here, that is bad news for american refiners. look at that. six, seven, 8% down. the white house wealthy families summit. >> i do not own a single stock.
i have no savings account. i get a free pension and a good salary. stuart: do not own a single stock or bond and do not have a savings account. and that is not quite accurate. liz: between he and his wife five savings and checking accounts. also annuities and big caps small caps, risky place. stuart: he does not own a single stock or bond. oh, no. liz: there is a basket of that. a number of banking accounts. stuart: how many banking accounts do you have? liz: i only have a checking account. stuart: like it or not, you really cannot go anywhere.
especially suarez biding a player during the soccer match yesterday. the third time during a game. dr. keith ablow is here. what do you say about somebody that bites his opponent? >> you know. they did that once to a bruins player. probably a criminal manner rather than an athletic competition. stuart: my production team tells me that i am obsessed with the world cup gets actually, i do not think that is true. they say that it is all i talk about. it is not. they even compiled a montage of
this. roll it. >> here comes the world cup. the best world cup. world cup fever. thanks to this great world cup. the world cup continues to deliver. truth that the world cup is the biggest sporting event of the year. the world cup was held in america. he wanted to expand the size of the goal. stuart: i guess they got me. [laughter] >> let's explore this a little bit more, stuart. the only way in which you have a problem is if they are investing some sort of poverty, but interest in some aspect of your real life. i do not want the world cup for you or for anyone else to be
like the romans provided to the citizens to keep them off of their game. a very rich light. what i am concerned about our the other people or the lives of these players, the lives of the games, the lives of the league are a substitute for their own genuine passions. they are in play. if it is inspirational, great. stuart: that is good, doctor. it is really extraordinary. i've got that. can you hold on for a second. elizabeth licked donald is here. she has been tweeting about the biter all day. liz: what is this about the biter. if you can't beat them, bite them? people are wondering about europe's obsession with soccer.
the left-field of a baseball game. ninety minutes of turnover. don: nonsense. absolute nonsense. this is the best world cup. probably the only world cup that you have ever seen. >> well, here is what i will and did. yes, the soccer is tremendously exciting for a lot of people. i am a moderate fan. you are a major fan. why, why, stuart, are being soccer suddenly skyrocket? why are people so ready to be entertained? another blog buster sport. okay. i worry because people in their daily lives are losing touch with reality. stuart: the news about our country and economy is spanning the world. it is overwhelmingly negative.
here is the world cup. how convenient it that is what is going on here and. >> it is a little too inconvenient. they have it in for americans. we were fearful at the time. elect somebody who is not very patriotic. okay, so, we did that. now it is kind of strange. they are rolling out the marijuana. they are getting everyone high. does that sound like, perhaps, i do not want to be conspiracy theory, but why is that? stuart: very good, doc are. see you again. an annual rate.
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stuart: breaking news. john boehner thing he will sue the obama administration. he just made that announcement. he said it is not about impeachment. lawsuit has not been filed yet. boehner said it will h a lost e-mails? we will ask one of the people doing the grilling. plus, the army. turning recruits away. you know how i feel about tattoos. i flat out hate them. we are talking about it in the next hour. 8:30 a.m. eastern this morning. what a shock. nobody is expecting this.
america's economy is shrinking. it is not a mild contraction. it is a full-blown retreat. all right. here is my take. two important points to be made on this. this is also in obama policy failure. it is time a president learned a lesson. you cannot return to prosperity by raising taxes. for five years, that is what mr. obama has delivered. america is capable -- we have not seen it. policy has failed middle america. this is perhaps more troubling. what do we do if we do slide back to recession? what happens to the deficit?
it is now running out more than a half trillion dollars a year. that would make things worse. there is no joy in this. we do not want prosperity. we want america to stand tall. this president is not delivering. we are trying to escape the bad news. i cannot escape the feeling. i ys say be thman with the plan
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[ male announcer ] see if your business qualifies. stuart: a big ruling from the supreme court this morning. the online tv service is violating copyright by transmitting that casts tv signals over the internet. this is a big win for networks. >> it is a big win. they essentially said, we want to ring back the rabbit ears where you can grab broadcast signals. the use of the content.
stuart: it grabs content. charges for it. doesn't pay cbs anything. stuart: big games too, i think. hank paulson talking about the climate change debate. he has a "new york times." we are staring down a climate bubble. tax on carbon emissions will release a favorite emission. what do you make of that?
>> and lots of economists in the government. misguiding the economic problems. they pushed a massive bailout through that. it was really wasteful. they are pitching the carbon tax as a fleet market option. it is about picking winners and losers. when will we see it the lockbox if they want it fixed. stuart: and economy which was contracting. liz: the thing is, where does the money go if you have a carbon tax? in the studio.
coming in over abusive tobacco practices. that is the issue. where does the money go? >> using climate change for an excuse. stuart: raising hundreds of billions of dollars. thank you. back to the irs, please. republican from arizona. i want to get right at this. our viewers want those lost e-mails. very important stuff. can you and your committee get them? >> we are on the attack again. we know that six others have crashed associated with lois lerner. we are on the track of trying to
get those. stuart: we have had -- it really is easy to go get those e-mails. that thing may have been coveted. once that e-mails are sent out, our why we have not gotten them. >> they were redoing it every six months. but they are asking the taxpayer to do, they are in violation, as well as the archive. stuart: they are saying, give us more money. we can give you what you want.
to get more money. that is what they are doing. >> it is. $1.8 billion. it is all about priorities. saving money and investing. stuart: i have two ask you, do you think we will get to see those lost e-mails in the next six months? >> the attorney general has stonewalled us every which way. stuart: will we ever see it? >> i am hoping that we will. it needs to be done now. not later. stuart: i know that this is a very busy time.
the only sect that is down collectively so far this year is the so-called consumer discretionary. >> it is coach. it is staples. talking about the iraq economy. watch this. the worst performing sector so far this year. twenty-two warning so far. stuart: all right. thank you. you like spain. we are talking sectors here. why? >> i see a market that looks pretty close to value. better bargains overseas.
look at spain. coming out of a deep recession. things start to stabilize. things start to get worse. stocks are getting worse. to me, those are the right conditions to have. >> anyone says i put my money into spain, they would not buy that one. there are some winners in this foreign sec there. >> under armour. one that is so popular. we are looking at that one year to date. 34%, stuart. up 1.1% today. stuart: i am sorry. i made a mistake.
charles, back to you. you also like companies representing germany. why do you like germany? >> i feel a little unpatriotic rooting for them right now. the truth is, german stocks are a product of the global economy. the global economy -- it is getting there. emerging markets. really nice, sort of leveraged play on the global economy. stuart: got it. best performing sector this year. >> boring is beautiful, stuart. these are defensive plays. they often have dividends.
a good defensive play worth watching are these three stocks. stuart: thank you. and iraq you market. these are considered safe havens. there are concerns about topping out. stuart: okay. another winner is the energy sector. >> easy to find winners in the energy sector. all of which have had huge games. newfield exploration. by the way, the world cup -- >> distracted momentarily there. just put a free kick and scored directly. >> even i am excited.
>> argentina. i got it. i am excited. stuart: charles, you talk about tech all the time. >> i think that you have to be select did there. i love the company. hate the stock. i hate amazon stock right now. apple, google, i think you cannot really lose with those. i think they are very reasonably priced. >> i love the company. i cannot get comfortable with that stock price. stuart: you think that that is way too high. >> for a company that does not really turned a profit, yes, i would.
stuart: talking about the gdp report today. an annualized basis in the first quarter. >> it is showing that we were not in and immaculate recovery. stuart: i am worried about a second quarter where we see another negative position. charles, your take on the gdp report. >> obviously, just the weather. construction was revised upward. the down revision overall, experts, things that are less affect did buy it.
when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪
>> unaccompanied children by the tens of thousands floating across our border with mexico, cartels, administration that refuses to enforce the law. standing up against all of that. please be with us. 7:00 p.m. eastern. ♪ stuart: hundreds of army recruits being turned away. a tattoo policy. the army changed its rules in march. for tattoos below your elbows and knees. they have to be small enough to be covered by your hand.
liz: always a sensible issue by recruiting. here is the issue. also, the tattoos cannot the vulgar, racist or sexist. stuart: are you implying you are not a good man or woman recruit if you do have a tattoo? >> losing a lot of potential recruits. they have already turned down recruits. stuart: i personally do not like tattoos at all. if you want to join the army with a tattoo, who cares, if you are on my side, that is fine with me. >> they have patriotic tattoos. a lot of them.
see to it have something stupid on your face, i can see the point. >> breaking taxi driver strikes. people turn to uber because they cannot get a cab. huber also offered a promotion. $10 off if you use their service. regardless of the promotion, people needed taxis that day. of course they will use it. stuart: a lot of honking in the background. does that have something to do with it? those were cab drivers honking about uber.
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no one of the only world cups you have ever seen that you got to admit the soccer was fantastic. >> the soccer is tremendously exciting to many people. i am a moderate fan, you are of major fan but why? why are we seeing soccer suddenly skyrockets? should we wonder? is it a new drug? stuart: is a distraction from the ugly side of life. that was dr. keith ablow talking about the world cup. earlier in an interview i asked him to put me on the couch of
world cup obsession and he said he sees no problem with me. thank you, dr.. here's your take on the rest of the show. marsha has this to say about a chinese billionaire giving away money and food in central park today. here's what she says. we are enabling the problem, not solving anything without right charity, we are feeding starving children everywhere for 50 years and there are even more of them now. our policy should be teach a man to grow a crop or work or start an industry. is in that harsh? we're talking a chinese guy who comes over to see our homeless in new york city? something wrong with that? one of our viewers had this to say about what i say is the most exciting story of the day kof the world cup butter, banned for life says this person who e-mail in to was, band for life. i don't watch soccer, not a fan of the game, he has done this before and will do it again if he is allowed to keep playing.
ten seconds, 5 seconds each. can't be done, bite them. i am done. adam shapiro, is yours. >> argentina 2, nigeria 1. i am sure you will be keeping an eye on that. different score, however. i am adam shapiro in for dierdre bolton. the supreme court hands down the ruling and while that deserves the way traditional tv makes money it can't stop the migration to digital or your ability to tune in and cash out. the google developers conference may choose three times is the time as the tech giant adjusts its reception to give multi platform digital tv a third attempt. how much personal income will it take to cover your public pension debt? we will show you why millions of americans are about to blow gasket. retirees may blow a fuse if puerto rico passes a law that allows public corporations to restructure that debt, billions of dollars are at