tv Making Money With Charles Payne FOX Business December 8, 2014 6:00pm-7:01pm EST
guide was today, reducing your 2014 taxable income so you pay less in april. that's it for the willis report tonight. we'll see you back here tomorrow. ♪ ♪ charles: i'm charles payne, and you're watching "making money." the obama administration about to release its report on the cia's interrogation techniques, waterboarding all expected to be revealed tomorrow. will this put our troops at even more danger? rich edson is in washington d.c. >> reporter: evening, charles. officials say the senate intelligence committee will release the details of that report tomorrow morning at 11. it will charge the cia for using torture during the bush administration and also for misleading administration officials. former bush administration and cia officials have been pushing back on the reported findings and warning the release of these details will only create anger towards the united states and endanger americans abroad.
to that the obama administration says it's been planning for months for the release of this information, instructing u.s. facilities worldwide to review their security postures. the administration says president obama supports the release of this information. senate intelligence committee chair dianne feinstein losing her chairmanship next month when republicans assume control of the senate. charles: speaking of which, we have one in the market today. at one point the dow was off 153 points. oil again down bigtime, bringing the major oil companies down for the ride. and the carnage cannot with understatemented -- be understatemented. find out later on in the show when to buy these and which ones are the best buys. first, let's go to nicole petallides on the floor of the new york stock exchange. >> what happened to dow 18,000 and record after record? well, we had seven weeks of gains, got to give some of that back. the dow was down 106 points. energy led to the downside.
halliburton, schlumberger, exxon, chevron, all with down arrows. and mcdonald's on the dow jones industrial average also lagged after global same-store sales were weak. we did see some names that hit new highs including visa, disney and home depot, positive arrows at least during the day, not necessarily the close. energy, materials, technology were particularly weak. charles? charles: i thought you were supposed to get us to 18,000. thanks a lot, nicole. here to help us out, our friend, anthony scaramucci, skybridge capital and a fox business contributor. joni courtney back to help us, plus scotty nell hughes, she's brought the sunshine and the pink dress. hitha herzog, our retail expert, you and joni thinking purple.
and matt mccall, founder and president of penn financial group. the first real, real deal here today, well, listen, it's all about a continued freefall in the price of crude oil, guys. perhaps you can start to sense also maybe a little bit of panic on some of those nasdaq high fliers as well. there weren't a lot of positives, i will take a bow here, cubist up 30% from when i told you to pick it up. making money viewers, you should have been this that one, the only biotech you should have been long from this show. not bad. but all the rest of the news was bad. everything associated with energy getting slaughtered. there are amazing companies, many of them are screaming buys for investors. but first, matt, there's no way these names are going to just come back overnight. not at in this point. earnings estimates, investment estimates, people are worried about investments, people are worried about hedges. but some great stocks that are
absolutely decimated. >> i had a lot of questions from clients asking where the bottom was. i don't know where it's going to be, but just looking at the chart of the oil and gas service companies, they've fallen about 50% in the last three months. so for that to get back to where it was, that needs to go up 100%. that being said, there's a lot of great opportunities out there. these stocks have gotten decimated, and i think you can start picking them up in the near future. you have names like conocophillips saying 2015, we're going to see a little bit more of that. until that's gone, i think you hold off. charles: what do you make of it, antithink? -- anthony? the commodity selloff is a symptom of some ugly economic -- >> well, i mean, there's a perception there'll be a softening this the economy, but i think there's a couple of things happening right now, charles. one is the fed and the prospects of a fed rate increase. people are targeting march now. i personally don't think that's going to happen, but think
that's being reflected in the momentum names. on the oil side though, i do think this'll settle out by the beginning of the second quarter, sometime in april you'll see this settle out, and those names are dirt cheap. you could buy a basket of any of those high quality names and do well. charles: yeah, i think so too. you're going to buy a thousand dollars worth tomorrow, wait and buy $500 a couple weeks from now. joni, jobs on friday. there was an article in the "usa today" that suggests we could actually see hiring because of these oil prices down, particularly small businesses. they had a couple of anecdotal stories, one from tennessee, one from brooklyn. can we see that? would it actually move the needle with the overall jobs picture? >> you know, it definitely could have a positive impact. i think as long as it doesn't, you know, if the price of oil doesn't far too far. i think if it drastically falls, that might cause some concern in the market. but where it is right now is a very positive thing. hiring managers, you know, ceos
of companies seem to have some good confidence about next year and making hires, so we could see some food job numbers -- good job numbers keep up. charles: certainly trucking down 50%, that is absolutely huge. >> do you want people hiring on that though? i would much rather see companies hire with increased demand, not because oil pulled back -- charles: i think the demand has been there, but i think a lot of these businesses needed a safety valve, some sort of quasiinsurance policy. >> and that's only one factor. it's a number of positive factors that are making companies feel like that's another thing that's making me feel like it's a good indicator to move forward with hiring. charles: this enthusiasm, this amazing gift of cheap gasoline or cheaper gasoline still not reflected in the public sentiment. >> no, and you can sit there and save at the gas pump, at the same time, the if you're just bringing home the same amount, you still don't feel it. you not going to go out and buy
those huge investment items. you might buy something a little for yourself, but you're not going to make major digs. charles: you're not? >> no. charles: okay. got to blow the whistle, open up the first page from partnership's investment playbook. i think that nine cent hike in wages, it doesn't sound like a lot, but that was really big and very important. we're still not anywhere near the median household levels that we were. look at this chart on your screen. there are a lot of reasons to believe that the economy actually could be gaining some momentum. even before that jobs report on friday, we had back to back gdp numbers that were encouraging, and most economists universally say 2015's probably going to be the best economic output in a half dozen years. for a long time, though, many people were wondering when are we going to get a normal economic cycle? it could be coming back. what messed this up? all the the fed action, all the underhand money, overhead table
money, stimulus, bailouts, all of these are knee-jerk, desperation moves. we've seen them in places like japan. we even saw them here in america during the great depression. all of that stuff made things worse, not better. but i am starting to see a little bit of return of normalcy. take a look at what i consider your typical relationship between investors and investor cycle. the question is, where are we now as investors and does this accurately correlate to the investment cycle? remember, i want you to tweet me what you think, euphoric, angst, fear, capitulation, disforric, hope, excitement. heath that, i want to start with you. you saw the options, where are we now? where's the economy -- [laughter] >> i'm still looking up the definitions. charles: the economic cycle, do you think investor sentiment is correlated properly now? >> i think we're on the cusp of hope. if i had to pick something,
maybe on the slightly lower end of hope. part of the reason why is because of unemployment. i know we have been saying this a lot, but some of that long-term unemployment growth is not there yet. not to mention gdp is growing, but it's nowhere near where the other countries are growing like india and china. they're growing their gdp two to three times minuter the u.s.. -- more than the u.s. charles: anthony, we know this has not been a normal economic cycle. do you feel, though, we're getting in sync to what normally happens after recessions? >> actually, not yet. i still think you're going to have that flattish, tepid growth. puts me in the optimistic sort of goldilocks scenario for the stock market -- charles: so you think investors should not be correlated directly with the economy, in other words, they should be one step behind or one step ahead? >> i actually think they're right where they need to be which is long the u.s. stock market. at the end of the day, you've
got a perfect scenario for stocks. you've got a fed that cannot raise rates here, you've got enough growth where the economy's going to do fine and the stock market through the engineering of stocks -- charles: buybacks, dividends -- >> all that stuff is going to cause the market to go up. bull markets do not end as a result of old age, they end in your forya, and i think -- euphoria, and i think we're all. >> it's very rare to ever quote jimmy carter and economy in the same sentence, but we have a crisis of confidence. i think that's what we're seeing today. the factors might be there, but at the same time, we've still gone through, we're still a little busted up, so they're taking their time and easing back in. charles: jimmy carter's infamous
malaise speech. although i don't know if he used the word "malaise" -- >> he never did use. charles: what do you think, matt? >> i'm more optimist in. just feeling individual investors, they're starting to get some optimism and be a little more aggressive when it comes to the stock market. i think we could skip over, what is it, your forya and go right to the selloff. i don't think we're going to go in that perfect pattern. charles: doesn't a session like today though when the market was down on relatively mixed news sort of say that we're nowhere near euphoria though? >> nowhere near. i had one call from a client saying we should sell everything today, i have other clients saying let's buy into this pullback. when i get calls saying we must get in there, that's when we're in trouble. charles: what about the economic cycle in hiring? how's that lining up? >> i think there's a disconnect there, and i would say that the
hiring cycle where you see the jobs come in, i would say it's lagging behind. obviously, if you look at the past year and the market, it's been very strong. i would think it would be more in that optimism, you know, or optimistic -- charles: well, november -- >> but the jobs market is kind of falling behind. charles: if november is revised to 400,000, are we going to skip one of these -- >> we're just starting to see these numbers, so i think we're going to see a few months come through. but there's still some problems in the labor market, and it's funny you bring up jimmy carter, because the labor participation rate is still as low, it's as low as it was in the carter administration. >> percentage of u.s. adults in the market at 54%, low of 52 last year, 65 -- charles: by the way, we're going to have to go here, but what we should note is when it was 62% for carter, it was actually going up. >> it's going down. charles: let's blow the whistle here again, open up a page from
partnership's investment playbook. all right, guys, let's stick to this theme a little bit here. now, we looked at the upbeat part of all of this, but let's broaden it out because we know the economy has been one of these things where you have the haves and the have nots, so there are, obviously, a whole lot of challenges. one is what i'm calling shared despair. the unemployment rate and work force participation both lunging, but one causing the other, and even if you have a job, you know other people -- family members, friends, either they've completely given up on the job market or they're underemployed or they're working part time and they definitely want a full-time job. and then there's home ownership. now, if you were able to hold onto your house, congratulations, it's obviously coming back in value. but here is the problem, millions lost their homes which are owned by foreign investors or wall street firms and being rented out for an absolute fortune. and then there's our other shared misery, government debt. look at this, guys.
this is government debt in the federal reserve just skyrocketing, $18 trillion for our federal government, the federal reserve has taken on $3 trillion, over $4.5 trillion. the problem with these two numbers is one day someone's got to pay for it and that someone's probably you. all right, that brings us to our next real, real deal here. we keep talking about income inequality, but we've really got to talk about that. how much of this problem -- here's the thing. we know we have a problem, but different people use it as excuses for different things. scotty. you have some people who want to fix it, some people who want to hijack it to take the country in a different direction. >> have we ever seen actual income equality? that's marxism. charles: i guess the gap. to your point, the closest income equality is north korea right now. >> you know, i like this idea of -- we can talk, exactly, yields. income equality, i want income opportunity. i think that's ooh a better
thing -- that's a better thing to focus on. all you're doing is creating opportunity for the rich to be poor. let's actually use it, not just throw money at it. charles: anthony, you've mentioned the fed twice, two or three times, and we've been here 15 minutes. [laughter] let's talk about the debts of what the terroristing you're -- risk you're taking. from the outside, okay, anthony, they bought a bunch of junk from banks, treasuries, agency bonds and the market's up. what's wrong with that? >> well, not a lot wrong with that, but we get paid to deal with the world the way it is, not the way we want it to be and not the way it ought to be. when i mention the fed every five minutes, it's all about the fed -- charles: but explain to the audience why it's so dangerous. >> so the reason it's dangerous is that they are jamming down rates so low that they're eliminating price discovery in the markets. so all assets are inflating whether or not the fundamentals of those assets are any good. so when that ends, it's going to
end very, very ugly, and the things that are inferior like these high flying momentum stocks that got killed today, they'll get crushed each fumplet but right now the fed's going to stay in the game -- charles: even through 2015, you think? >> i believe that. charles: okay, what do you think? >> i think the mull the city nationals need to start adding more high skilled jobs. 4.2 million jobs were added by multi-nationals. that means to come to the united states multi-national company need to start adding jobs. i think that's when we're going to start seeing this wage disparity narrow. >> but why would they have the jobs? >> they need to start spending capital expenditure that they're not spending -- >> demand. [inaudible conversations] >> start spending that cash that they have here. they need to -- >> i think they are spending here. i think the government hasn't created a business-recruiting atmosphere. >> and we talked about regulation. charles: what was interesting on friday, on friday we had people
working part time for non-economic reasons, in other words, they want to, up 230,000, 20 million people. i don't know why i'm the only one that rubs the wrong way. a combines 26, 27 million people working part time, that's not a healthy economy, is it? >> no, it's not. you know, when you look at those numbers, 6.9 million people saying i want a full-time job, but i just can't find one. and the other thing we need to look at is there were more full-time jobs in 2008 when obama took office than there are today. so the jobs that have come back, we have a e tremendous amount of part-time jobs which are, you know, lower level, skilled companies have cut back on hours due to health care reform, so there's a lot of challenges still in the job market today. and the federal reserve does their market labor index where they hook at the 19 indicators across the board, and they showed that this month actually was the slowest growth since august of 2012.
so it's interesting. they don't make a big deal about publishing that, but they see there are some concerns. charles: matt, what do you think is the most discertaining? i think some of these are more important for main street than they are for wall street. >> as for main street, and i think this goes over to wall street and to consumers, you may have a job, you may actually be getting a small raise, have a solid job, but you still have the psychological, something hanging over you thinking, you know what? my neighbor's out of work, my cousin's out of work, i'd better watch it. so you're kind of sitting back because everybody else out there -- misery loves company. so people are going to tell you how bad things are so it holds you back, that is my concern. >> we can sit and talk about, but when you go to the grocery store, milk prices are still expensive travel prices are the same despite fuel costs being lower. the truth is it is actually more, pensive now to live today -- expensive to live
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charles: all right, time now to address r questions on the market. individual stocks and industry, you know you can always ask me. getting a lot of questions about the auto industry. obviously, at a 7.2 million annual rate, got one question on facebook, what's with ford, market down, hold or sell? identify got to tell you -- i've got to tell you something, well,
let me read jim's on twitter, fcau just recently got listed here in new york, and i will double in five to ten years, will he double his money, i think he wants to know. i've got to tell you something, i know for a long time we went with ford, they were the only automaker that didn't take a bailout, but something's happened in the last two years. they started losing market share. fiat has been a monster with chrysler, i would stick with that deal. the f-150 is the big gam gambit. the all-alum numb truck a huge gamble with the most impressive brand in auto history, and we'll see. there's no urgency to sell ford, but i think fiat's going to outperform this stock over the next year to two years. >> i'm going with fiat as well. look at sales in november, up 20%, their best november in 13 years, ford sales were down.
if you're going to informs in growth and where -- invest in growth, i do think that f150 aluminum's going to sell very, very well at the beginning of the year, so you may get a bounce. charles: what do you think, anthony? >> i'll tell you why i like ford, that 3.2% dividend yield, tens times earnings in this low interest rate environment, not a lot of super things have to happen for the stock to trade up. we like it as a defensive name here. charles: hitha, what about you? >> the car industry is booming right now. but fiat chrysler, matt said it, up 20%, sales up 20%. this is a big deal. and, yes, why i love the -- i like the new aluminum truck, i think the sales wise are going to have some long-term effects. >> it's cooler, isn't it? wait a minute, being someone close to six feet tall, i would much rather have a ford than a
fiat. we couldn't puttal in a concern. charles: i will buy two and use it for roller skates. [laughter] here's the real issue, and i hate we just gave chrysler to them. i'm still trying to figure out what did they have on president obama that we gave them the company? [laughter] some day we're going to find out. all right, guys, make sure you tweet me me @cbpayne, and post a facebook, facebook.com/charlespaynefox. the big banks are only gotten bigger in the last few years, but walmart newbies like lending club is looking to upset the industry. who do you trust more with your money, wall street or walmart? we'll be right back. ♪ ♪ how much money do you have in your pocket right now? i have $40, $21. could something that small make
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charles: dell lucknow but the big banks have only gotten bigger. and the top five commercial banks now with 44 percent of the $15 trillion in assets. they are doing okay especially wells fargo setting a new world record and city have the record here is the question. why are they getting so big and should we be investing in them?
also do banking rules prohibit the merger at least that has a 10% industry liabilities though they will not have any more mergers but second years could have massive consolidation. id like some of these. >> yes. bankamerica and jpmorgan i used to love them based on valuation rights. wire they getting bigger? there will continue to grow but if not for regulation there would be bigger than they are right now that is why they are priced as low as they are. but some of the small regional banks are "making money" there's. >> but this government regulation, dodd/frank? >> as a good has come out of bed that with in an -- administration like this you get crony capitalist -- capitalism. now dodd/frank is supposed
to be set up too big to fail but those five banks are too big to fail matter what the regulations. that is the issue for the next administration still make-believe broken up before they consolidate. charles: so one administration one day will force them? >> yes. they will say you are so big we will break you up. charles: i don't like when the government does that but in this case i prefer that. >> also with a dismemberment and the coagulation. >> but your point when they do decide to break things up it is normally bias to one group instead of the other. >> but small groups are concerned -- banks are consolidating but they are giving help the car loans and the student loans you need the small banks to
provide. charles: i did not like the bailout. i think we would have been better off right now. >> but to left-leaning governments don't do that. but what i dislike about dodd/frank if you wanted to start a firm the first niner 10 people have to be lawyers or regulatory people. you could not started to day like we did. so ironically it is eliminating competition to allow them to get bigger and more powerful. charles: one alternative is peer to peer lending it began in 2006 in the u.k.. how fast is a growing? eighty-four% a quarter. now while standard loans are down from their peak of a hundred and $40 billion will get this. a really cuts out the middleman, one player allows
lenders to play in as much. but eppley says with a propaganda says. then they can consolidate their credit-card bills. the write-down would is 3.2% vs. 3.7%. you seem skeptical? >> i quoted four times the median income and i put my credit score was good the offered $2,100 at 29%. that was terrible. that is propaganda. i think regulations will come down on this as well. >> when i was doing this as well they say it is supposed to increase technology to
make is so efficient to borrow money. i think it has generated many for small business. but i am a little skeptical. are you really able to get the money? and what are they using? charles: one is consumers to consolidate their debt. this is in attractive alternative. >> 29%? said is not a good industry at all. [laughter] charles: let's get the history. >> if they give you that kind of interest-rate it is as bad idea. peer to peer works with lenders they can assess the risk than if you are a bar where forget it. it is a really bad idea.
>> ideas think it will be regulated and it is one of those things where it could be a good idea. this for people who have a hard time getting a loan. but there is truth is what they have to deal with now is the default rate that is what they have to cope with. >> is there any chance they give regular banks are run for their money? finigan i don't think so. the banks will normalize and they will develop all loans and this will be by doubt. >> probably tomorrow lending co-op will go public probably illegal open minimum of 50% so let's check in with kneale cavuto to meet. >> tonight coming here is something you do not see every day. business is chasing the best customers away and find out
why washington is forcing them to do it and forget about a not being able to work but because you smoke? it could happening find out how and why. charles: i wanted to do that story. i am glad you are on top of it. we already have a couple of good tweets or posted to the facebook page. also be sure to like us. the imf says we're number two and china is beating us. what does that mean for you and your money? next. ♪ in germany?
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united states is only 17.$4 trillion. china is only a few years away from the top spot. also they are erecting an amazing amount of skyscrapers all tower -- taller them the freedom to our. you may not care about the tallest building. is there of problem with a loss of the economic stature? says that the slippery slope ? >> in 1920's people thought that way. and understand looking at the numbers with the imf of china but look at caterpillar. the growth in asia and specifically china. that is a red flag. charles: and she brought up the british empire date now the u.k. is the number three
economy in europe may be six or seven in the world will be hit that same slope? >> i still think china will surpass us. looked at the numbers you cannot avoid it. but in the 1830's china 30 percent of the world's gdp by 1930 it was by 1980 down to 2%. charles: china and india had 20 percent. >> but i guarantee we have more influence over there so we could be the first. >> we're only 6 percent of the world's population. >> but that is, were in that is what we need. >> of united states had 1 billion people we could blow them away.
>> but it is interesting because they are trying to get them to focus on frugality. they export everything. he tells everybody. charles: but the export driven economy i just think that they worry about income inequality but they understand, they were never to they make $0.50 the day and could save half of that. >> but they would rather live here we would not want to live there. >> not me. >> they will overtake us with the numbers but they are building these buildings foreshadows a day's. but eventually they have to stop throwing money at it
because they will run into an issue. at some point but they will hit that. charles: so thinking about china, what about america? a real long promised? if we lose the dollar between though world's reserve currency. >> with over in china that could take over the main currency of the world certainly we could stop this. >> and no one could take our place. >> as long as have the largest military and commodities we will see is a world reserve currency for at least one generation. >> but china is 10 times worse. >> now the collapse of those
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was looking good. but i will be honest we have monster at home every now and then they come out with the flavor then it collects dust again. but there is enough on the market with the right distribution and will be good. in the meantime the looks much better with their fiscal earnings and the short position is only 2 percent for our like it short-term and long-term for but my target is 140. what do you think? >> it will be bought i hope i am on the show the night that it is. so i can give you the high five. >> i don't get this company. i think there will be a study. , people drink this it is dangerous in my opinion but it will get bought out.
there is too much risk for me. charles: i have seen a lot of scientific studies. you have to drink 73 cups of coffee but people love it. >> i don't drink it. even though i work for the different monster. but i have not become a fan of that. it is the choice. if you don't have a vise or drugs or smoking if you jesus is is your own choice. >> said profit margins are up everybody drinks is i don't drink this but a lot of people do. >> was very close to be bought. >> even though you hear about rebel they have great
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charles: politically i am not a fan of larry summers but his editorial was spot on about the infrastructure and the at way we have lost collective face. in these issues will not be fixed until spring of next year and of privilege of 100 years is still the unscheduled to resume traffic until 2016. of a couple of weeks ago was the 50th anniversary of the opening of the bridge that is an architectural marvel it holds records and is a wonder to behold although it isn't cheap. that aside then there is 48 history right outside here.
scheduled through 2017 i drive up the street every morning and i can tell you this will run over time by years there are numerous problems including some that larry summers would approve of. i took this photo. there are so many times so many people like right here you can see traffic guards who always reiterate what the traffic sign is saying anyway. and also let traffic cop. and all of the other guys i am sure politicians are given credit for the job but they never heard any skills about construction and they will never earn real money to change their life but it seems like it is okay with then you can just than their. always smoking a cigarette. even if they were facing action and taking knows there were not learning anything. since the construction guys
don't move the earth very much. now your tax dollars are wasted in our collective faith is lost. the. >> people walk across the street. then we talk about getting money to fix the roads. this is why they will never be behind these projects. they've never end and they are way too long. >> i go to boston almost weekly. i am in laguardia airport. though whole thing is a mess. the infrastructure is so old. then there is a bridge in cambridge that has diverted traffic all around. our country has some real challenges with infrastructure. charles: we don't want to switch places with the chinese. >> but here is the thing. you hear the word shovel ready jobs this is larry
have a lack of confidence in the government. this is happening in small-town america and made st. there is it government projects there is waste we need to incentivize them to speed them up to make more money if completed correctly >> it is sad it has to come to that. charles: accountability. accountability. everyone agrees when i see for people with the signs and doing whatever the traffic sign says and the traffic cop then they're smoking cigarettes what is this about? >> it goes to accountability but i will tell you one of the greatest republican presidents gave us the interstate highway system. >> eisenhower. >> exactly. like it or not we are all small government stands on
this show but you have to be concentrated. charles: also accountability. the military industrial complex the was a more fiscally responsible. even with a demonstrative jump in jobs by the way it was a military project. >> he did it to carry political favors. charles: let's go with marching orders. this is what i give you three aforetime is. of the most for profits also to stop payment on a couple of things. it is very flawed novel and also another we're entering tax law season because if they take a loss for the tax benefits they will be very
frustrated in a couple of weeks. then it will be up one year from now. radio go with tax policy? >> i did not sell anything today but those said did really well got hit today. charles: that is why i sold data today. >> i am gung-ho retail sergei jury and i'm focusing on amazon especially but also apple. >> we like the mortgage rate space and the etf fired going long -- i am going long. charles: the tennessee the girl brought me up with those colors. it is neon. i will host a guardian
company tomorrow morning at 11:00 to 94 that a lot going on around the world remember some people will call it torture. lou dobbs will explain that. keep it here. >> good evening. one rigo that attorney general their color travel to lebanon to the baptist church and promised to end racial profiling his declaration after michael brown grand jury decisions it turns out was tardy by a decade. george to be bush had already ended racial profiling antedate the al gore and attorney general eric holder and able to completely rewrite history or further ignore it, decided if he cannot and racial profiling