Varney: Facebook the Face of Capitalism
FBN’s Stuart Varney breaks down the IPO of the social-network website.
- Duration 7:28
- Date Feb 2, 2012
FBN’s Stuart Varney breaks down the IPO of the social-network website.
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Aircraft from -- company provided part of Florida the -- honest -- -- this morning it's.
But offered him a -- from here on -- Bernard boarded up to amendment men call that's ago.
The -- levers that I wasn't very loved to forget -- -- when you're supposed to be on the tournament was after 9 eastern time.
Almost of the second yes you to.
And I'm very grateful for -- and I thank you from the bottom of my little hardship but that shouldn't be necessary I realize now it is gonna be I'm gonna be thankful to you anyway I'm doing my job and I wanna be congratulated.
For der reminds Roberts is idiotic on my partial appalled I think you could very well -- I'm a huge fan.
Among wife has -- huge fan has been watching you all day for years and years and years and and listening to yield market which is listening now by the way portion.
Hell's that -- announced muscle.
It's all right what's not real good or bad but so.
-- them -- the president's as well -- -- There's economy's getting better what -- uses.
It is slightly.
Back -- no way neo weary should -- Last year 20111.
Point 7% growth that is the weakest recovery from any recession since World War II we shall -- Little leaping ahead should be 456 even 7% growth at this point it's not is on to 2% that's just not good enough.
So the president can spin this by saying -- we're going in the right direction but really isn't good of people feel better about.
The direction on the -- I think the latest poll shows 62%.
Think we're going in the wrong direction that settlement.
Currently negative current about on the health and negative saw as Washington Hannity plus side until like couldn't stand it anymore.
Because -- -- screaming.
And formal Juan Williams.
-- Scott -- Rasmussen -- -- yes he was there are they out of three government of screen you know the kind of Rasmussen need to be looked like ha why in my here is gonna bookish try to sell lots of them have -- wanna -- was to -- brutal.
One of the things candidates -- have to Congressional Budget Office assembly.
Is predicting that unemployment.
Could considerably go back to 10% do you think -- -- Yes that is an entirely possible yes but it would be kind of a statistical fluke.
If you've got a lot of people come back into the workforce.
-- the workforce size goes off.
If you got -- a number of jobs -- the actual unemployment rate goes up one of the statistical -- but yes it's entirely possible you get back to -- don't even 10% unemployment.
We got big numbers coming out tomorrow morning.
It would not surprise me to -- of the unemployment rate went all.
Even though the economy is expanding modestly patent on a possible.
At a presents us is created.
How many more -- they're more first him -- -- considered -- Wanted dramatic and -- which of course -- he's been all over the shop -- -- -- he says he received two to three million jobs with that stimulus program prove it.
You can't prove that you saved a job.
The fact days that we've got 140.
Million jobs in this economy now we had a 142 million jobs in this economy brought before this recession.
We are down a net two million jobs that's a fact that you camera -- -- We spent trillions of dollars we've run up the debt -- would out of the jobs to show for it.
That is sexting -- our -- survive -- company.
And their own mind 1 eastern time on apartments and don't work and and -- on everything else.
-- far from dreams ever morning right yes every morning and yeah every morning between six and six that -- forty -- do their orders handle them.
I'd give a business political report are apparently the big story of the day one exit when it affects -- money out Alexia what -- current today.
-- on Mumbai today it's FaceBook.
-- yes what you could say is this because of projection of a lousy economy from the government's own bean catalog -- that's a big story that FaceBook really that's right up that.
-- might take on it is different from everybody else's -- -- this is not a story about sort of but the -- getting 28 billion dollars.
This is the story of the triumph of American capitalism.
This FaceBook is an entrepreneur L'Oreal story.
They are doing what America does best just get off our backs let us create companies let them problem let's chill -- we can do.
This is American private enterprise -- its best can you imagine.
What would happen what kind of company would FaceBook -- or apple all Google if President Obama had given them government money.
-- if it -- unionize it did become Obama rise can imagine what a lousy company they would be.
But they're not that pure private enterprise -- wild success that's the story.
As a good take on I've written this morning and got -- graffiti artists that are -- to paint their headquarters.
And set up I am a guy who gave him stock.
This talks governor worth.
Hundred million dollars yet and also -- our historian and -- look if you can get it close to sixty you're officials about the company's -- and the right.
But his is the problem though.
With these mountain American world beaches -- do think the world that great bonds they don't employ many people.
FaceBook has only 3000.
Employees for a hundred billion dollar company from home Google is a 20300.
Billion dollar company that -- thirty to 34000.
Employees that's it.
So it's not the old style major corporations employ hundreds of thousands of people unionized workforce hold looking to union rules -- like that any -- This is a new economy.
High tech all American American world beaters and -- very very few people creating enormous wealth but concentrate.
If -- kind of kind of storm on -- -- coffee and a -- -- your Rimage actor plumber is good but I'm an early morning gone now the cellular market.
A -- knowing knowing that half the people in the country who are gonna vote have no idea what's -- on.
The president is going to be able to us.
I killed Osama bin Laden and save General Motors and -- -- saying like Al -- barrels also professional.
And Romney is going to be and they're gonna kill him because he keeps them one dumb thing after another you can't say I'm not -- we've -- whether contemplated to cut.
We know what to context as -- but I'm not concerned about the report but that's ought to what degree no other games -- -- just some outside a public option.
Of plot like Rhonda couples went on the commodity idiots -- I think he wins or didn't he wins big in of them all the what you don't believe in -- and I hope.
But it I don't know a lot of -- you -- -- -- to answer questions and explain to me all right I knew any thing I would what have you here Romney wins big.
In November because this economy is like housing market and everybody knows it and they Felix service staple of or whatever where's well.
Lousy housing lousy employment situation massive debt and a feeling of Malays that we are going in the wrong direction.
You can't -- I don't know I feel worse and I hope you're right to -- Just like I don't know what I don't Stuart -- nine point eight survive on a fox business and -- -- thank you.