Tonight’s cuppa: coffee on the set of NBC’s “The Sing-Off” (a story for another day)

Stuart-Varney-FBN.jpgNext week, FBN daytime anchor Stuart Varney, a British-born journalist who graduated from the London School of Economic, takes his show into primetime with “Varney & Co. at Night,” airing Monday-Friday.

Each night, Varney will bring on experts to talk about the news of the day and what it means for national, global and personal finances.

But first, he answers a few question (in bold) for HCTV …

What concerns you
most about the wild market swings over the last week?

wild market swings cause great concern … the big declines at the end of this
week suggest a recession is coming, and that’s bad news for everyone.

Should individual
investors or those with 401ks be taking action now or should they ride it out?

money is long term money so don’t panic. Most people will not use their 401K
money for many years to come, so riding out the storm is the best policy.
Recovery will come, but probably not soon.

GOP presidential
hopeful Gov. Rick Perry referred to the Fed Chairman Ben
monetization of our debt to be “almost treasonous.” How do you feel about
Bernanke’s stewardship of the Fed during this latest financial crisis, and what
should he be doing that he’s not right now?

Perry may choose different language next time he talks publicly about the
Federal Reserve. Personally, I think Ben Bernanke has done the best he could
with a very difficult situation. He has used all the tools available to him,
and invented new ones. As a central banker, and not a politician, he has done
all he could.

What should he stop

perhaps Mr. Bernanke should stop printing money. There is a huge amount of cash
sitting with banks and corporations….no need to add to it, especially when
inflation is heating up.

What has been the
greatest challenge in covering the market turbulence in a way that is
meaningful to viewers?

biggest challenge as a broadcaster is NOT leading the story. Don’t talk the
market down. Report what is happening in an even tone.

What has been the
effect of the S&P downgrade – and should we take it seriously considering
their poor performance regarding rating mortgage-backed securities prior to the
2008 financial crisis?

downgrade was a wake-up call … a welcome wake-up call. It was a clear statement
that we can’t continue to add $4 billion to our national debt every single day.

As a native Briton,
how did you feel about the London riots, and do you think their causes were
economic, political, cultural, or any or all of the above?

put it bluntly, the riots in Britain were a disgrace to the country, and in my
opinion, were the result of its entitlement culture.

Can that violence
come here?

has a different tradition of street demonstrations, and, entitlement is not yet
so deeply entrenched here. Violence on the European scale is unlikely here.

If you were one of
President Obama’s advisers right now, what would you like to see in his
upcoming jobs plan?

want to see (but do not expect to see) tax reform … that means cutting tax rates
on individuals and corporations, and at the same time cutting deductions. That
puts more money into the hands of individuals rather than government, grows the
economy and brings in more to the Treasury. But don’t hold your breath:
President Obama wants to raise tax rates, not lower them. His first priority is
income re-distribution, not growth.

Do markets listen to
opposition-party candidates during a campaign against an incumbent, and what
effect can their remarks have?

the Republicans outlined a clear tax reform policy (lower rates, fewer
deductions) it would have a positive effect on our markets and our economy.
More government will not work. Private enterprise must be unleashed for us to
return to prosperity

What do you see that
gives you hope for economic recovery?

for a recovery? A radical change in course for economic policy; the repeal of
Obamacare, Dodd-Frank and EPA rules; along with an end to the demonization of

(Photo credits: Varney, FBN; Perry, Matthew Cavanaugh of Getty Images)