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tv   Cavuto Coast to Coast  FOX Business  August 17, 2016 12:00pm-2:01pm EDT

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this is a huge industry. >> 100 billion a year to gaming. transfer the ncaa, even they cannot tell pm we are at a time. charles payne, it is yours. charles: thank you very much, stuart varney. this is "cavuto: coast-to-coast." and charles payne and four neil cavuto appeared all manafort is taking a step that. bannon join in as campaigns the elp had manafort does keep the title of campaign chairman but his role will be more proof that the campaign is struggling to find its footing. what's really behind them is, let's go to the trump campaign manager. kellyanne conway, congratulations. i've known you for a long time. your great person in the right person at the right time.
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before we talk about you in any direction, let me ask you about paul manafort. people are curious, is it a class that styles or was that this sort of thing coming up, this russian ukraine thing that we here in the media starting to bubble up a little bit. >> are some upcoming thank you are a match. that's of you. paul has the exact same panel today he had yesterday in many responsibilities. what paul manafort has done in this campaign has been phenomenal. it took us to a place where we need to be in this home stretch. you need to add more people appeared at the very busy time getting to the last 12 weeks of the campaign. charles: on the ground, adding talent at the top. there's only one room at the top and you're at the top position right now. everyone can see that. whatever happened behind the scenes is great. this is my interpretation.
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i know you're back around. i think this speaks that donald trump gave last night was a jack kemp type speech in that might've had kellyanne conway influence all over it. you've got a sub division. you sell what women want, how to the women. sms admission that donald trump is a positive move in the sense that it went after nonwhite voters and women to >> is a very positive. the last couple days have been great for the reason you pointed out it back-to-back speeches on radical islamic terrorism calling it what it isn't showing how how we can solve the problem , reminding everybody that the growth and birth a basis happened when obama and clinton's watch since 2013. 80% of the people killed since they started their violence and massacre happened in the last three years.
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so we've just created these vacuums in libya and iraq and syria and egypt. he calls up with one really tough speech, putting the case directly to hillary clinton to prove why after decades in public service you've got poverty, homelessness, crime, drugs, unemployment. it's not fair to people and is taking it right to her to say if you want to talk about temperament i will talk about tax and figures. thank you for the shadow. he was a wonderful mentor to me and other people in the lab his philosophies and enterprise zones and opportunity scholarships are finding their way to the trump campaign. too bad they never took jack kemp on his offer to help. charles: part of the success has been televised with donald trump the way he's giving these speeches. on the other hand, steve bannon, people calling him a bare knuckles brawl are, the kind of person who will let trump a
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child. be yourself, be bombastic and be bareknuckle. how are you going to coexist? that is not your style. people say they will go through the finish line. let's manage the candidate. >> you need to look no further than hillary clinton when you haven't an authentic candidate. somebody trying to be something she's not. i make his millions of dollars in speeches and through the cotton foundation. people want you to be true to yourself. that is part of a donald trump's magic has been off the last 14 which is i'm not a politician, not in the lead as any system that interacts the insiders. it is hand and so when we talk about pay that, my own view of the pivot of substance. it is not style. charles: will you say that too much? >> i'm never afraid to speak out. i'm never afraid to speak up and
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my opinion is very much respect it. i've seen firsthand before me just women who have been promoted by donald trump in the trump organization. everybody got a real treat and i thought the trump who is his business partner at the convention. guess of course we all speak out. he gives great advice from different people including paul manafort. charles: the major difference. this is the best move. we are at the home stretch. but the major difference people will see, that the voters will see. >> the major difference will be more quite be seen which is donald trump and he loves to do it. it's comfortable and able. he delivers remarks, buddy makes himself available to the local media, national media and also guess that the people. he loves being with the people.
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usc has very much focused on five to seven to eight slayings dates immediately. watch for at this week in addition to our ground game, data operation. candidate appearances by mr. trump and governor pence. charles: kellyanne conway, congratulations. in an event in ohio the next hour. the she's trying to pivot to the economy, blake burman reports the e-mail continued to pile out. reporter: hillary clinton campaign expect her to go right after donald trump's tax plan later today. clinton appearing on a high school in cleveland, ohio about an hour from now. she's there to say that more money should be invested in goals like her when she will be appearing up rather than providing to give out tax cuts to the wealthy, which she claimed is that the heart of trump's plan.
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another divide between trump and clinton is the estate tax. we are told double once again be a focus front and center for clinton today. trump wants to get rid of the estate tax. clinton wants to expand it good clinton we will repeat this afrnoon that she believes trump's proposal would lead to a $4 billion tax break as one example to his very own family. clinton cannot seem to shake the headlines around in her e-mails. the summary of the interview from later this summer along with most of the interview were delivered to the republican-led oversight committee today. much of it has been humbly redact good because that has been deemed highly classified. charles: thank you area much. the state department will release the e-mails to judicial watch is. michael but tasha. congratulations. first of all you spot an amazing fight and now you're starting to
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get a lot of things that the public would've never seen redaction then i'll. what exactly do you expect? by smoking guns could we see it? >> thank you for having me. the communications between mrs. clinton and ann bill clinton on the clinton foundation as folk were going for. last week a receipt e-mails from her closest personal aide. those 13 miles she didn't return. what we saw there were communications between who my father did so see a lot more e-mails about clinton foundation donors getting initial access. charles: connecting those dots, of course, of course you can't push back from the clinton folks saying there certain things. people know each other. there is no evidence that anything ever happening from casual introductions.
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>> that's absolutely right. that's what they say but it's not the truth. there was an ethics agreement in place for mrs. clinton when she became secretary of state. that said she would not be involved in the foundation that cavities. the clinton foundation had new rules and guidelines set up to prevent the clinton foundation and having influence on the state department. you have concerns at the beginning of her term and clearly they were justified and it looks as though all of those concerns may have been ignored. charles: what can happen from here? any options with respect to legal options or is he setting the record straight with the public? >> judicial watch has 30 federal lawsuits related to the clinton e-mail scandal. we continue to get more records, more information and we try to create an entire picture so the public can see what happened for those four years instead of the
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statement they continue to say. charles: and the idea when have this material? any sense before or after the election? >> we go to court on monday morning. department will hopefully let the judge know what they think the federal should we. most likely that will be a long scheduled for records and we will fight back and hope early the judge will order the state department to produce records sooner rather than later. charles: michael, thank you. we appreciate it. donald trump receiving his intelligence briefing and you can't be trusted. commander tom croce says hillary clinton has already mishandled sensitive and her mission. thanks for joining us. obviously it's really all political non-sense with respect to donald trump's should not have these, but we had this
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conversation about the mistake hillary clinton made as secretary of state and other forms of life within the government. >> one of the things it's telling us who is choosing to have with them at the briefing. the former united states attorney in the form of chris christie has used a sensitive law enforcement information from the threat briefings, no santa manage, no wife harvested. someone like general flynn who's been a national intelligence understands military intelligence. two individuals with specific experience who will be in there with him. donald job has been a businessman all over the world for generations. he understands her in the intelligence -- business intelligence information. he's been a consumer and he's been successful in using it. he protected his empire, businesses. i don't think you are going to see the kind of risks associated with that. when he gets in the room they will be able to show had how the
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information is generated and you will see someone who guards the secret. charles: some people say the information is enough for any candidate to have pivotal for such a little bit once they become privy to it. do you see that happening? >> my time in the white house situation room and the national security staff in the transition team to president obama, you are going to get a presidential briefing. he will be showing information that is sent to dave. it does have an effect on you me the first time you start absorbing the information how dangerous the world is. he's done risk assessments before investment in foreign countries. use use business intelligence. he is protected because there's an end to it. i can't imagine somebody with that background x. sent individuals in the room within what ever do anything to jeopardize the united states. charles: tom, there's also
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report that the nsa may have been hacked. the foreign government continues to pile up all over the internet at different websites. if this is true, what are the implications? >> is very scary because every time this thing happens there's a security review. you have to figure out how the information got out. it's very costly to duplicate those tools and methods. also, it puts lives at risk. if you are actively using these tools to protect homeland or assets overseas, this post lives at risk. these kind of breaches and releases have been par for the course in the last eight years and this is sent and you need a national security team and structure that understands the secret. charles: should maybe have proof as much as that's an option. i was. i would say the bad guys are one step ahead.
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>> we have amazing national security intelligence professionals throughout the community who spend every day, every waking moment trying to protect these secrets. one bad actor on the inside as we saw it in the cases of some of the larger national security breaches. it is something you have to guard against an something that these agencies are working on every day. this is more par for the cares of the last eight years. charles: scary stuff. thank you appreciate it. fallout from at napoleon now. obamacare in disarray. the administration knew it would do this. in the meantime, stocks are down. concerns about the side after william gottlieb told peter burns yesterday september could be in play. you are going to find out right after this.
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charles: you are looking at a fast-moving wildfire, a series of wildfires in california which have driven over 80,000 residents from their homes. the fire began in late morning a small patch of flames next to interstate 15. 60 miles east of los angeles began to spread rapidly. as you can see the flames are getting bigger and bigger, racing into the air as high as 80 feet. we will keep monitoring that. we're about to get fresh clues from the fred today. kind of raising a little bit more today for every type after bill bradley joined as being exclusively yesterday and told your barns about perhaps in the vincent timber you take a listen. >> i don't think the election would weigh on us one way or the other.
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as i said, if we decide to raise rates the economy's doing well. not because we are worried about inflation over the shooting major way. charles: the election might not you wayne and i must add, but obviously can have an impact on the election. the minutes always release 2205 in fact. our investors bracing for a rate hike and can they continue if that happens? what does this all mean for november? the rally has been working in democrat favors. there is no doubt about that. if it actually does get better and the sad as rates, would not derail all of it? >> potentially, charles. let's just say i think it's all contingent on the unemployment report. we'll get another unemployment report before they meet in september.
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say its gangbusters like it was this past month which i thought it was pretty good. let's just say they keep moving. they say were going to raise a quarter of a point. that is all they are going to do until november. i can't see them doing another quarter-point and not sober. i think the market at this point can stomach a quarter-point increase. it's kind of preparing if you will. because about the markets markets continues to trend higher. charles: to your point you are right in the the market was bracing for it earlier and the fed did a good job of telegraphing it. i'm not so sure they are doing that job now. that's one of the reasons bill bradley was so candid with peter burns yesterday. the rate hike last december, what we got out was the worst start to the stock in history. i'm not so sure if the babies on wall street can handle 25 basis points. >> you may be right. we both looking at this market a long time. if we combine the predictions on
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what will happen after rate hikes. i personally thing the market has been treading water if you will. although it's certainly been the overall trend since the low has been a remarkably so. for the past few weeks it's been treading water. maybe it even has that dependent on what the fed says her september. i guess i'm pretty bullish at this point. charles: at the fed were to hike rates or there is some reason the market took a big combo before november, what impact would that have on the election? >> well, i guess it depends how much of a tumble. the market is down 10% or 20%, then swings in favor if he makes it a point in donald trump's favor. hillary has to go back and look at the market. she says i'm basically going to continue the last eight years of obama. but what we've had. we've had a market that performs
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better under reagan. up over 100% since obama took office. that's the case then we are down maybe 5%, 6%. if we crash, obviously i think is swings to trump's favor. trade to thank you much. appreciate it. getting news explicitly warned it would've been an exchange of the administration that the merger was humana. why did the government block the merger? right after this.
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charles: so denies bowing out in the future of obamacare are piling up. to this make donald on what happens if more health care companies decide to do the same. >> you know, that is the thing. what is happening here, charles, we have been researching this and want to find out what happens to customers that the insurance exchanges, the
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obamacare exchanges that ensures we've done hundreds of thousands of people in arizona faced just that. they have no insurer and the exchanges is that fails on the exchanges they are. so we looked into it and found the choices are pretty dire. you may not get doctors or drugs covered. be trying to get medicaid or you could try to get a catastrophic plan. that's what the u.s. government is advising. we have a direct quote from the u.s. government with health and human services. if you get your insurance coverage can't vote because your insurer fails on the exchange, you may need to resort to catastrophic plan. what is happening here, charles, aetna was asked by the justice department blocking the merger with you men know what would be the impact on the public exchange. they said we've got to do this
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deal was humana on us we can't withstand our losses on the exchanges with the doj blocked and then flooded the exchanges. back to you. charles: thank you very much. edna aetna warned, if you pull the plug on this merger we are going to pull out of exchanges get the murder of courses blocked anyway. 430 million the reason for pulling that. inside obamacare of her bruce strassmann. listen, here's the way i see it appeared you are the author of this. the insurance companies wrote obamacare for the most part. the government paid them for losses. that runs out this year and now they are cutting and running. >> it appears that way. the interesting thing is insurance companies are charged with managing risk of six people. they did not anticipate and they
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say that call after call of earnings. they did not anticipate how sick these people would be. we also know that not enough young and healthy people are signing up because you need young people signing up to pay the claims of the sick. that is the rub here and the insurance company is i now say that they need to do something different with pooling. they in the states to chip and her tax dollars are get insurance to fees into the pool. this is kind of a negotiation and the interesting thing the aetna cubana merger is that it's all playing itself out because letters are starting to be late and so forth. you can't say that they didn't know the government didn't know this was coming. >> the obama administration, the only merger they like are the ones worn off it is involved in. here is the thing. insurance companies are in the business of understanding people's house.
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that's what they do. the idea people never have insurance before would be really sick is a little disingenuous. on that note, how does this get pitched? before obamacare, everyone acknowledge there is something wrong with the system that these costs were running up to high and unsustainable. is it ultimately a single-payer way they say you see what happened here just make it a single-payer or is there a legitimate free-market approach that a president can take? >> well, a little of both. certainly you could go a single-payer but i think that ship has sailed because more private insurance companies are managing medicaid patients. so i think the situation you have here and the aetna ceo has more detailed comments than anybody on this. he is saying that the obamacare exchange needs to work like medicare and medicaid.
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the usual trend nation on not as they either need a little more of our tax dollars where they need the freedom to set up different risk pools end quote more high risk patient or create a pool created by insurance companies to pay the claims to these people. the reality is the insurance come to me instead have a hand in writing the legislation and they are not as good as what they say they are when it comes to predict if madeleine. really appreciate it. law and order will be in order to the economy. former n.y.p.d. commissioner on if more police will lead to more growth. we will be right back.
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charles: the question is will law and order fix economic albums? donald trump making the case. >> the problem in our community is is not that there are too many police. the problem is that there are not enough police. we reject the bigotry of hillary clinton, which panders to and talks down to communities of color and sees them only as those. charles: conservative reviews,
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correspondent on whether this will appeal to black voters. >> yeah, i think it will. americans are greatly concerned about the economy but the safety and security of themselves and their families today and in the future. people are very can earn. when you have urban communities they are on fire with violent this all stems from poverty. when you look at no incentives, no job growth, high unemployment, poor public schools, high crime rate, these aren't really a recipe for disaster in the communities. progrowth initiatives are the way to go. charles: there is a two-pronged thing. there's also a backdrop of a lawless community. i was on fox and friends and talked about the black community being held hostage. i always felt that it was almost like being in nigeria with vocal
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rom. it feels that way. if you are scared or intimidated its hard to have any economic growth. no one is going to invest in those communities and how you sell this to a community under siege and some are saying after this many decades still continuing to accept it. >> first of all you have to go to these communities. in the black community there is an echo chamber the same message. victimization and pandering. the new message needs to be of economic liberty, freedom and empowerment. better quality schools. kids are trapped in failing public schools. lower taxes, less regulation. this way you can help grow the economy and get people off the street to do good things in their community. these communities are on fire because of a lack of opportunity and they've been going off for many years because of the failure of progressive policy.
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charles: i have this argument/debate/conversation all the time. i've got 250 coming over to the house for a summer sending. you're invited. or in tom your bathing suit. the accountability part. ultimately america is designed in a way where people pull themselves up to the bootstraps can make it. have you sell the accountability part but democrats say it's not your fault, black people. is evil republicans and other things out there. >> as part of the pandering message. i tell my personal story how i worked hard for many years. yea. charles: some of your friends perhaps. >> some people you will not be able to reach. others are afraid of being vocal and true to their core beliefs. so they go and they don't say anything. it is important to reach these
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individuals because it is about personal responsibility. it not about government. government is not the answer. charles: one thing i would like and we are going to have howard safer but his feed went down. a lot of people don't understand the law and order aspect is hard to implement the community under season. you are not going to squeal on someone if they're not going to go to jail for three. a member of the latin kings murders someone. this guy would be back on the street. we need tougher laws. they perhaps. do you think any major dynamic changes so they put away and young people aren't handicapped for the rest of the lives. >> a lot of people feel if they are prisoners in their own homes because of the crimes going on.
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let to the fact that individuals are getting away with so much in some cases the level of punishment isn't severe enough to take care. charles: this guy comes out. went to jail for a year but is back on the street driving a mercedes and is not all the nice clothes. how are you going to keep that kid in school? >> not only that, but it sends a bad message if he can get away with it, so can i. charles: donald trump 11% to 3%. i admire what he did last night. he needs to take it to your point to churches, communities and others. realistically, what kind of an impact than keep them have he did hit the message over and over again. you think you can get double digits of black voters in november? >> it's about doing something different. these communities are hurting. it's important to take the message to the individuals.
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they've done a horrible job over the years of talking about freedom and personal responsibility in economics to black voters. where is the harm in doing that? the message needs to go out there. charles: sometimes the message sounds disingenuous because it's a lot more complicated than the buzzwords. >> better than hillary clinton claims to have done. charles: she also learned some good music. if russia is a threat to the united states and iran as a threat to the united states, how big of a threat is russia working with iran? think about it. we will be right back. we sing out loud here. siriusxm. road happy.
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(announcer vo) you can sit in traffic. or you can crack up. (man on radio) but if it isn't refreshing... (announcer vo) sorry traffic, we laugh 'til it hurts. siriusxm. road happy. >> i am not and should hear her on the floor of the new york stock exchange. let's take a look at where oil is trading at this hour after you see where the indexes are. treating donald and asked that the dow up 50 points. oil is trading down about 21 s. $46.37 a barrel after we got the energy information administration. inventory report. the oil and stocks fell by 2.5 million barrels. that was a draw down much larger than good. we had an increase of
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$1.94 million. that would be just feel expecting a draw down and gasoline that is expected monday 6 million barrels. we will go back to "cavuto: coast-to-coast" right after this.
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charles: parts of louisiana still under water after nearly two feet drenched the southern part of the state.
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30,000 people have been rescued from spreading 40,000 homes destroyed in the historic flooding. the red cross and relief operations will cost at least $30 million if we will keep you updated with this devastating disaster. meanwhile, a brazilian judge has ordered american swimmers ryan lochte and james feigen who were brought back gunpoint in a taxi as they returned to the village. police have yet to confirm the order has been carried out. ryan lochte said his back in the united states ahead of the judge orders. the federal reserve decision-makers and i suspect we could see growing dissent for so-called oregon's so-called accommodation. i think monetary claim that they who gave peter barnes an interview yesterday gave us a hand. take a listen. >> we are looking for growth in the second half of the year. some acceleration in the growth outlook.
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the labor market continues to generate a reasonable job gains with 190,000 the last three months. we are edging closer towards a point in time where it will be appropriate to raise interest rates further. charles: hibernia predicted the current quarter will see 3.5% which will trigger the local rights because such timing news will be great for hillary clinton. as it stands right now, the fed which does have a great track record of calling gdp for modeling is looking for 3.6% growth. meanwhile the stock market session is being weighed down after disappointing earnings from retailers and target. while they are proxies for the economy, keep in mind that their major victims of the internet. urban outfitters and children's play stocks are soaring on stronger-than-expected earnings. right now you've got to go back to the third quarter of 2014 for the last time the economy grew more than 2.6%. you get mixed messages that it
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doesn't feel like the economy is growing at 3.5% or better. if that is the case it changes the dynamics of the stock market and maybe even the election. how do you see the earnings, what are the jobs numbers telling you and how do you think we are looking right now? >> on the followers i let the market tommy what it means and i see a positive reaction. more than 90% of companies have reported. we have a good earnings season. we are at the tail in the back right now. my focus is on the dollar. looking for rates to possibly go up in the future. that is not likely to happen. we've gone below 95. the euro currency back to the highest level since the shakeout. i don't think that's a major possibility. the spillover is with a weaker dollar. that's a positive for energy
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stocks as they been dragging the market down. charles: energy to your point, but also multinationals. i want to go back to what you're talking about. the bottom line has been fantastic. a lot of that can be engineered. the top line still somewhat lacking. guidance has been sub par. that's the thinking rate retailers today. >> the numbers are what the numbers are. whether we believe it or not to put that much stock in them. it's about guidance and with the markets perceive for the future. analysts are looking for the second quarter of 2017 for things to really spark. we are fighting time. at some point the stock market is forward-looking. at some point has to prove we are getting earnings growth to justify where we are. we saw below 2200 in the s&p which was the target, the long-standing target betwe
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forever in the s&p. we didn't quite get there way back off just today. charles: as we develop the last resistance number to your point, what would sort of give it credence beyond corporate earnings and forward-looking rok rate now. >> instability and energy. crude oil has found out this was. and it's been straight up sense. if those stocks up going down, that would be a drag on the stock market. even against the head wind. if the stock is hurting the market, we can get an additional catalyst to the upside. i'm not voting for caution. they had a key reversal last week. that tells me something may be afoot in the near term. let's remember the middle of august you can't put that much
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stock. charles: a lot of anxiety. oil hits 50 and we are up way not much higher. thanks, buddy. good luck trading today. the russian team with iran, why that has a former cheney at eyes are very worried. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap right from the alert. wow, i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade.
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charles: russia sending a fleet of bombers to syria after using an iranian air base. they are teaming up. john hannah has a former adviser to vice president dick cheney. john, you are concerned about this, aren't you? >> yeah, i am very can earn. my colleagues at the foundation for defense of democracies have looked at this. this has big strategic implications for the united
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states. in terms of the amount of firepower they are able to deliver. against targets in syria. more importantly it could begin to build the zone of immunity around iran, a russian sound of immunity if it includes russian planes and russian advance air defense systems. it will in effect take off the table at the ability of the united states or israel to take military action in the future against iran and in particular those iranian nuclear sites. that's a great worry to me. charles: john, the region is in a click maddox of odd conundrums if you will with turkey, russia, syria, assad, the united states. the enemy can be my friend or my enemy.
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is this all happening by the leadership currently and the white house. >> i think there is no question that at least as far as russia is concerned, she right now sees this in the middle east against the obama administration as a zero-sum game. he is going to push and push as hard as he can to make as many strategic gains as he can while this president is in office. as you said, it is not just now a major russian military division in syria and it looks like it's being developed in iran, putin clearly has his sights on pushing turkey further away from nato and getting into iraq as well where of course we all now know the iranians are the dominant power of influence inside of iraq. i look at food and potentially a military arc of influence through c-reactive onto lebanon right on the israeli border.
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charles: donald trump says anyone who has to fight against a safe if iran is actually allowing russia to ostensibly use their aerospace and solidify the relationship to kill a assist even though we know they are killing. rebels. how does this all work out? >> i think it is very difficult except on the most narrow technical basis for strikes against isis to see at the moment how we really have common interests. putin right now is using the cover of america's efforts to cooperate with and to build out the strategic influence across the middle east that is beginning to limit american military freedom of action. we will eventually come to his plan is not be able to do anything in the middle east militarily without consulting with them first. you can believe our allies in the persian gulf, one of the
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most strategic weight presents are encircled by russian and iranian military power. charles: john hannah, thank you. donald trump announced a major new changes. what does it mean for the campaign. i had kelley on conway -- kelley and conway on. we will hear from the experts next.
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. charles: breaking news. you see the market coming back? st. louis fed president james bowler speaking about the economy giving clues about a possible rate hike. adam shapiro has his remarks. >> reporter: slow growth, low real rates of return on assets. no recession. get used to it. he's speaking in st. louis at washington university at a wealth and asset research management conference and says it's time for the fed to change its approach on macroeconomic and monetary policy projections. he predicts over 2 1/2 years gdp will grow at roughly 2%. unemployment at 4.7%, and that
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inflation will hover at 2%. he says, and this is a quote in his regards to recession, quote, we have no reason to forecast a recession, given the current state of the u.s. economy. but the key here would be they think investors are going to pay attention to is slow growth, low real rates of return on assets, and again, no recession. some of the other takeaways that perhaps it's time for the current policy approach to acknowledge it isn't working because we are stuck in the slow growth environment. that the fed should reassess targets for inflation and unemployment, joining an echo of voices which are saying the same thing, back to you. charles: adam shapiro, thank you very much. more on that in a moment. donald trump pounding the economy, staying on script and flipping the script. new leadership, major team announcement. paul manafort taking on a diminished role but staying on as chairman and chief strategist. breitbart media's stephen
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bannon is joining as ceo and kellyanne conway promoted to campaign manager. conway joining me last hour, she says get ready to see trump stay on message. >> yesterday he followed up the radical islamic speech with a tough speech putting the case to hillary clinton to prove why after decades in public service you've got poverty, homelessness, you have crime, drugs, unemployment. not fair to the people in the communities and he's taking the case right to her saying you want to talk about tone and temperament, i want to talk about facts and figures. charles: to gabby morange yellow and trump's latest turnaround attempt. major shake-up, gabby, what do you make of it? >> it is. it reflects what donald trump said in his speech about reaching a decisive moment in the election. as voters weigh his message against hillary clinton's, donald trump needs to ensure he's mobilizing those who choose to support him, and the addition of stephen bannon, the
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promotion of kellyanne conway should hope to do that. donald trump and the number of battleground states faces double digit poll deficits. outsourcing the key components of his campaign to the republican national committee, and it's time for him and for his campaign to build a traditional operation, though he isn't himself a traditional candidate. charles: you know, gabby, when i spoke to kellyanne, i made the observation, she worked with jack kemp a long time ago, the speech that donald trump gave had a lot of elements of jack kemp, and her polling company has a division called women trends a bring them closer to female customers. that speaks to acknowledgment, they need to get non-whites, women and one of the reasons she was elevated to the top? >> certainly does, and i think that's why donald trump stuck to the message he did last night. he's polling at 1% among black voters in a number of states that could be crucial to winning in november. it is important to make inroads
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with minority voters and especially with women. i mean, donald trump has suffered tremendously low favorability ratings among women, so the promotion of kellyanne conway and background in polling as an expert should help him do that. these changes in his campaign, the shake-up, whatever the campaign wants to call it, come at a time donald trump -- i'm sorry, republicans are under mounted pressure to really focus their party resources on down ballot races instead of him. these changes should support him in the event he does land himself in the middle of another controversy to not only have the infrastructure, but be able to operate without the operational support of the rnc. charles: on that note, the other part of the equation is bannon, and people say he's going let trump be trump and go at this with a street fighter mentality, and i think that's got some of the main street or established republicans nervous.
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in fact, brandon buck, who is house speaker paul ryan's spokesperson has already said that, quote, i've sold so many hot cakes, i can't tell with you respect to the choice. this is going to create more friction between terroridonald and the establishment. >> people critical of paul ryan for months now. there is the possibility could this backfire and create further friction between donald trump and gop leaders. but the resume that steve bannon brings to the table could be crucial for donald trump as he begins to launch paid advertising and run ads in battleground states. steve bannon has produced a number of documentaries, working with peter schweizer, the author of the "clinton cash" book. i believe his background will be beneficial to the campaign, as they start to focus more on advertising. charles: right, and to that note, they're going to launch
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ads beginning friday. florida, ohio, north carolina and pennsylvania and wrap them up. gabby, a pleasure talking with you, appreciate it. >> thanks so much, charles. >> hillary clinton set the talk of economic plan up in ohio. you're looking at it there. the e-mail issue is not going away despite efforts to pivot away, dodge and focus on the economy. state department is going to release clinton's e-mails to judicial watch. i spoke with the group's attorney last hour. >> you know last week we received e-mails from houma abedin her closest personal aide, those are e-mails that hillary clinton didn't return. we saw communications between houma abedin and doug band at clinton foundation. see a lot more e-mails about clinton foundation donors getting special access to the state department. charles: to democratic strategist doug schoen on this issue. doug, we know she's got major issues. the big albatross around her neck and ankle holding her back
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is trustworthiness, that doesn't go away and this stuff is not going to help? >> again, charles, she has about a seven-point lead, bigger lead in the swing states. if you're saying the e-mail scandal has plagued her campaign, i would love to run a campaign myself where i was similarly afflicted. unless there's a smoking gun in the e-mails which i guess could happen, there will be a lot of them, but unless and until that happens, she's come through the first phase of the most difficult part of the e-mail scandal with the fbi and the justice department just fine. charles: on that note, though, doug, hillary clinton has been around for a very long time. she's riding the coattails of a popular president whose own poll numbers have been rising and yet rarely gets above 50%, and people believe it's because of the trustworthiness issue and when people have to pull a
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lever, that can be an umbrella over everything, just like temperament with the wheel house, economy, terrorism, so can it hurt hillary clinton in other areas? >> you're making a good argument, charles. why? the secretary of state is in the lead. her poll numbers are undeniably bad, donald trump's are worse. people don't think he has the right temperament to be president and don't think he's qualified to be president. if you are not qualified and don't have the right temperament, it doesn't matter how bad the opponent is, as long as the opponent is better regarded which the secretary of state is. charles: to that note, we've seen donald trump in the last 48 hours with measured tone. kellyanne conway who everybody applauds as a smart add. >> a dear friend of mine. charles: they have time to change the narrative with respect to his temperament, don't they? >> i have no questions about kellyanne, my questions are can
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donald trump pivot and stick with the message? can he raise the money for tv ads? she's been -- he's been outspent 100 million to zero until now in the swing states. and can he focus on what you point out are the weaknesses of the former secretary of state in a way that drives the message. all of those, charles, very big, very much unanswered questions. charles: well, those commercials start rolling out on friday. maybe we'll get more answers. >> we'll see. charles: doug, you're one of the best. thank you. new debate over obamacare after aetna pulled out of both health care exchanges. now senator bernie sanders is saying that this retreat is actually proof we need more regulation in the public health care option but would that lead to more problems? to jillian melchior and democratic strategist lauren on the fallout here. lauren, start with you. this is bad news.
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i mean, just really awful. you've got over 700 counties in this country with only one provider. >> listen, bernie is only half right on that. i don't agree this is a regulation issue. i do agree this is part of the fallout of their not being a public option. the problem is without the public option, you do wind up with more lower income americans who are often have more serious health care issues in these private plans, and there's not enough of a pool because they're separated state by state for it to sustain the model. this is why, you know, there are two big problems that have happened with the aca which have to be fixed, not repealed but fixed. one is many of the states rejected the medicaid money that would have actually offset the issue, because you would have had more of the poor, lower and middle-income americans in medicaid in a public option instead of being supported by private companies like aetna. many republicans rejected that. it's a big mistake financially, that has to be fixed.
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and the lack of public option is going to continue to erode private companies. the other peace is price regulation, we don't have any of. that the burden is enormous. most people on the right wouldn't agree with me on that, we're seeing the results of the two choices in the aca. >> is that your assessment on this? the postmortem? >> no, what i think we're seeing is the government did a terrible job of predicting the market. they didn't understand who was going to sign up, what the cost to insurers was going to be, that means the answer should not be more government intervention. 2013, fast-forward to last year it was 287. more than 100 people dropping out. the insurers are hiking premiums, many by double digits, consumers are left paying more and having fewer options. the answer to this is not just to streamline them and push them in more of a big government system. >> they have the option. >> no, they absolutely do not
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have the option. >> 15 million americans had no health insurance before the aca, there are no questions that have to be addressed. are we going to go to the extreme measures and say get rid of all government? -- charles: wait a minute. >> more regulation. >> or nothing at all. >> if there's a difference between regulation and offering a solution to the problem that only government can solve. in this case, unfortunately, we had 40 years of a private sector insurance program which left tens of millions of people out of work. i think it's for families who have coverage for sick children who can't get coverage. charles: people who can no longer afford the deductibles? what about businesses that can't grow? there are serious economic damages, and people warned by the way about the damages. >> keep in mind, that some of the compromises that wound up, that left us with the state exchanges were because republicans refused to allow to have any kind of public option
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which would have mitigated -- they rejected -- >> normally don't buy the compromise argument. >> rejected free money in order to expand medicaid to offset the problem. charles: initially by free money that would have run out meaning they would have taxed the system. let them take the bait. >> i'm not here to defend every part of the aca. the question is what other solutions do we have in a system where private health insurers have no financial incentive to cover people who are ill, who can't get insurance on the other way. charles: jillian, would knocking down state barriers help? create competition and doesn't competition drive prices lower? >> absolutely does. that's one thing we should look at out of many. if we're looking at what's happening right now, it's the government's failing to predict, failing to come up with a system that operated like they said it was going to be. the answer is not more
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government. >> medicaid and medicare are the examples that work in total counteropposite of what you just said. we are capable of a country running some government-related health care -- >> you can throw out va for that, too. >> absolutely. charles: change that the subject real quick. on hillary clinton's tax plan versus donald trump's tax plan. almost the same core argument, right? big government, nanny state, we'll take care of you, we don't think we live in a country where you pull yourself up by the bootstraps. >> i know you love that talking point. it's not true. you have huge number, unprecedented number of republican economists, conservative economists who say that the trump economic plan is a disaster. we'll add trillions to the deficits, the opposite of republican principles on the economy. and the hillary campaign is not creating a nanny state saying we need to invest in things like infrastructure which don't get done any other way except
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through government. charles: mark dandy, he's more of a republican but worked with the last candidate. lower taxes, fewer regulations, unleashing the potential of the economy or higher taxes, that's what it kind of boils down to? >> with trump it is more complicated. in the first debate was all about universal health care, when hillary says i would stimulus, he doubled that stimulus. he may be promising a lot. he's saying we're going to cut taxes while spending more, on and on and on, contradictory things, i'm not convinced that's a coherent plan. charles: the bottom line is lower taxes, lower regulations, i think will help, but to your point, i think either candidate will see more deficits, and debt, that used to be a critical topic. not now but will be again. 19 trillion and counting, thanks, ladies, appreciate it. the fed is sparking concerns on wall street. we've got that for you, but are fed rate hikes, are the fears
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overblown? we're going to discuss that next.
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. charles: markets down today in part because investors are worried about a rate hike coming up real soon. we're getting close to new clues, we'll get it from the fed at 2:00 p.m. eastern. first market watcher, bob, we had one rate hike in december, we kicked off this year with a horrendous start. why do they have such an impact on stock market rallies? >> well, let's take a look. right now we're having a rally that seems bulletproof to be honest. we didn't really have a rally going to the last rate hike, so i'm not sure they're exactly comparable.
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but interest rate hikes are a big deal. people think that's what's going to be going the future. if you do one rate hike followed by more and more. i don't think they're going to do it because it does have a big impact on the stock market and will have a big impact but the market has been bulletproof for the last month. bad news hasn't affected it. charles: there was a period the fed properly articulated a fed rate hike and the market was comfortable with it. it was telegraphed, felt like it was good, and maybe that's the question here because 25 basis points, i don't see how that changes anything, there's not a mad dash for people to refi their homes or anything like that. >> 25 basis points doesn't change anything. you're absolutely right, charles. that's what's funny about the talk. it's been years of talk of a 25-basis-point increase, but it did have a big impact in january. i think fundamentally, the market's not that -- it's fragile, because recovery or i
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should say the economy recently has been fragile, world economy fragile. brexit, which has driven the current rally is bad news or certainly isn't good news, it's driven the rally. it's a funny market and fragile than it first might appear, and interest rate increases have impact, even if what you're saying is true, seemed like the market was willing to take it earlier. charles: you know, bob, a lot of people have problem with central banks and people who missed this rally or more or less bears the only reason the stock market is up is central banks are accommodative. if we know the bank of japan does buy stocks through etfs, buy equities, our fed doesn't do that but have enabled to buy back billions of dollars worth. how much of a percentage of the success of the rally which you put central banks or how much of it was perhaps we were oversold going back to 2009? >> i'm going to say most of it
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due to central banks. i think that's what's driven this market. it may seem like now because we've had the post brexit bump of 6, 7%, we're free of central bank stimulus. all around the world there is central bank stimulus, it's easy for us to do more and obviously keeping interest rates low. it's not helping the economy as much. japanese stock market is up over the last few years, but japanese economy is completely flat. no, stock market is up very much because of central bank intervention. that's muview. charles: thank you very much, appreciate it. >> sure, charles. >> donald trump has a fix for inner cities. we're going to talk about it with the details, here next.
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. charles: businesses in milwaukee reeling from unrest. donald trump visited milwaukee to declare the war on police is really a war on the poor. >> the war on police is a war
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on all peaceful citizens who want to be able to work and live and send their kids to school in safety. >> crime and violence san attack on the poor and will never be accepted in a trump administration. >> hillary clinton-backed policies are responsible for the problems in the inner cities today, and a vote for her is a vote for another generation of poverty, high crime and lost opportunities. charles: to cleveland police patrolman's association detective, if handcuffing the the police will make things worse, steve, thank you for joining us. we've watched this over and over again, seen it play out, going back to the 60s and i think watts is a great case study. a lot of businesses left and never returned to the area. how do you find that perfect relationship or much better relationship where you can
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actually have more policing in a community that understands the necessity of it? >> well, the answer's remarkably simple to that. we need enough police officers on the street to do the job properly. very recently in the city of cleveland during the rnc, we were able to prove that undoubtedly, when you have enough police officers to do the job, the job gets done and gets done in a very efficient and very safe manner. right now w skeleton crews in cleveland and other cities, and i imagine milwaukee is the same way. charles: yeah, and also in milwaukee, we've seen this economic backdrop which is awful. in fact, the average black household income versus the average white household income is the second largest gap in america. only minneapolis is larger than that. 17% unemployment versus 4.3 unemployment. how much does that contribute
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to what's been becoming a ticking time bomb across america? >> when you move somewhere for example, the number one and two questions are how safe is the city and how good are the schools? or how good are the schools, how safe is the city? you're not going to have people come into the neighborhoods and invest if there's a crime problem, it stems around the safety first, and that goes back to the priorities of the politicians locally. state levels and national levels. and the priority is not there right now. law and order is not the priority of president obama or anybody else that i can see anywhere at this point. and that's a shame because it's a really simple solution to a very, very complex problem. charles: steve, having a greater police force or a greater police presence, is there a way to do that in a way that's not intimidating. doesn't feel like an occupation, if you until. >> sure, absolutely. you know, again, going back to
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our success in the rnc, you saw police officers running through water fountains with the kids. you know, there was a lot of police officers out there and they weren't there in an intimidating fashion, there are the activists, the anarchists who say this is a police state. make up my mind for me? do you want it to be a safe state? we've offered solutions in cleveland, put office in schools so police officers can go into the school and do common paperwork so the kids have a chance to interact with them in a nonconfrontational way, you know? charles: right. >> and you know that got shot down. how does that get shot down? there are simple solutions, just not willing to pull the trigger on them and that's a shape. we need more police officers. we need help. bill clinton's administration, we had all kinds of federal programs in the city of
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cleveland and elsewhere in the country, rap houses, bicycle patrols, foot patrols, we had 100 people in a policing unit. 2003, 2006 we had 1500, you can't get rid of 500 police officers and then ask the question, what's going on here? charles: and ultimately the people in the community and the police all want the same thing. they want peace and harmony. >> absolutely. these guys and gals out here in the trenches in the police department, they would love nothing better than to drive around in a sports car all day long. [laughter] >> wave at the kids, play with the kidsnd not have one radio assignment to attend to. that's the goal in life. charles: steve, i just want to say thanks for all your service and being a voice. sometime, you know, i know it's critical and you put yourself in a position where you get a lot of pushback, we need to hear that and i appreciate you taking out the time. >> thank you very much for having me, sir. >> hillary clinton is in ohio,
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taking the stage, and it's expected she's going to attack donald trump's tax plan. next, a trump economic adviser saying her attack is filled with lies. believe it or not. he's going to explain next. there's something out there. that can be serious, even fatal to infants. it's whooping cough, and people can spread it without knowing it. understand the danger your new grandchild faces. talk to your doctor or pharmacist about a whooping cough vaccination today.
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. charles: hillary clinton in ohio right now, she's on stage presenting her latest all out attack on donald trump's tax plan even though it could
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result for a 4 billion-dollar tax break for trump's own family. reaction from trump economic adviser, david. you know, she's saying, david, that sure donald trump is giving a few crumbs to the middle class, perhaps up to $2,000. but if you look at what him and his friends are getting from his tax plan, it could be billions of dollars. >> right. and that's a complete miss characterization of the plan. trump wants to lower taxes for everyone, especially businesses. she wants to raise taxes on small businesses. she's got a 4% surcharge on her plan, so trump is trying to have more growth within the economy. she's been in office, her plan has been in operation now for eight years and the median income is going down. so trump's program is set up specifically to set up the middle class. to start causing real median income to go up. she's supposedly, you know,
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misleading people. so the benefit are going to be in more jobs, higher wages for the middle class. charles: it's one thing to say, hey, you'll be able to keep more of your paycheck. how does that create more jobs? >> yeah. so businesses create jobs by making some profit. and if they have to give halfback to give the as she would have them do. nearly 50% marginal rate for small businesses. that means they hire less workers. it's a direct effect. and we -- all of economics is filled with the idea that tax rates matter in terms of hiring. so she would have the private sector not hire people. trump wants them to hire people. charles: do you think essentially it's not really even truly an economic plan with respect to hillary clinton but more about appear ideology that on one hand you have one party and one candidate that says "this is not necessarily the country, nor has it ever really been the country where you can
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elevate yourself. upward mobility is an american myth and the government should make sure that they step in and make sure that they can get the spoils of those great country from that 1% and redistribute it. >> right. and you saw that play out in the democratic primary where bernie sanders was explicit about socialism that we want the government to take care of the people. and we know from history that that doesn't work. countries that practice that do worse than countries that allow the freedom of the marketplace, the private sector to actually cause growth in jobs. so i think you're exactly right that at the core of what the democrats are saying is that they want the private sector to be controlled and smaller so that the government can be bigger. that's just going to crush inner cities. we've seen it operating in the blue state. the democratic states where there's -- where there's a mayor that's a long time democratic mayorship. those cities have been getting just crushed by mismanagement.
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and trump can actually have an impact on that and said as he did very well in the speech last night that we can change this and move forward. . charles: right. and the only thing i'll say is we know historically what works economically but also historically what's been working in this country of politics of envy. so you guys have your work cut out for you. >> got to do it. charles: thanks a lot. really appreciate it. >> thank you. charles: nsa secrets could be out there. why kennedy says we better look out. we'll be right back hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business.
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>> i'm adam shapiro live on the floor of the new york stock exchange with this fox business brief. take a look at what's happening with the price of oil, especially after rioters report saying that saudi arabia saying it could hit new output record in expectation of the meeting they're going to have with opec and non-opec nation to address the worldwide oil glut and use the output they would have as leverage to convince everybody they need to cut back on oil production to get the price of oil much higher. so that's what's going on with oil right now. also take a look at cisco. shares of cisco are trading down slightly. roughly about 1%. this is in anticipation of the support after the bell now. of course there was the fact that cisco according to crn, the tech news site displayed to lay off what 14,000 people.
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20% of its global workforce of 70,000. we're going to have the earnings for you after the bell right here on the fox business network. back to cavuto coast to coast nt
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charles: well, look at this, guys. the stock market has turned up ahead of the fed come out in less than 20 minutes. that's a big move. right now hillary clinton talking about the economy in ohio. she just promised free community college, again. let's listen in for a moment.
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>> create at least 10 million new jobs in the first term of my administration. [applause] by contrast, if you look at what trump is proposing and how he wants to give huge tax breaks to people who are wealthy like him, it would cost our economy 3.4 million jobs. now, this is not me saying it. this is an independent analysis saying it that has tried to look at both of us very objectively. but what does that mean for ohio? if we divide across the country by population, ohio would gain 376,000 jobs under my plan and lose more than 123,000 jobs under donald trump's plans. [applause] and it's hard -- it's not hard to see why. because he wants to give tax
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cuts to big corporations, millionaires, wall street money managers, he's even created a new tax loophole that we call the trump loophole. because it's really good for trump. it would let millionaires and billionaires cut their tax rate in half on a lot of their income. under his plan, donald trump would pay a lower tax rate than middle class families. of course we have no idea what tax rate he pays because unlike everybody else who's run for president in the last four or five decades, he refuses to release his tax returns, so the american people can't really judge. [applause] and then there's the estate tax, which he wants to eliminate all together. so if you believe donald trump is as wealthy as he claims, we can't say that for sure. but let's assume it.
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he would by eliminating the estate taxave the trump family $4 billion. and do absolutely nothing for 99.8% of all americans. now, think of what we can do with $4 billion in ohio. we could build 280 new elementary schools. we could eliminate the outstanding student loan of 166,000 ohioans. we could provide health care to 370,000 veterans. [applause] and we could sure rebuild every crumbling bridge in this state, and fix a lot of the highways that are causing folks to incur expenses. . charles: that's hillary clinton laying it on thick going after donald trump and his tax plan here with reaction, kennedy. kennedy, she's laying it on
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real thick there, huh? >> oh, she absolutely is. and it's really offensive. it's not how government works, and she essentially sounds like she wants donald trump to die. so the federal government can reach in and grab all of that money and somehow they would magically with great focus disburse it and redistribute it in ohio for these various infrastructure and social engineering projects. that's not how government works. she's been in government way too long. she should know that. she should know that the bureaucracies are crumbling more vastly than the bridges that she talks about with these infrastructure plans. and it is so offensive because as we know, the estate tax, it doesn't just hurt rich people. but when you do hurt rich people, when you keep taxing them, boy, do you lock up the capital that they could invest in small businesses, and she despises wealth. she's for a $15 federal minimum wage. so everyone can make the same exact amount of money for the rest of their lives and live very ordinary lives under her
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heavy handed government plans. charles: there's no doubt about that. but the politics in general forgetting about the economics of it have been successful the last two elections. >> yes. they have. and, unfortunately, it's because she speaks with a certain vagueness that people in both parties often do. and, you know, they say my plan will magically create so many million jobs. my opponent's plan will cost so many million jobs. and, you know, she doesn't cite exact sources. she just says that they are bipartisan, that they're not vested in various -- charles: and sometimes she talks about the mark dasani thing because he is a democrat, but he did do some work for mitt romney. let me ask you, kennedy, do you think going beyond the two politicians here and their plans that the american public, that the american people are starting to lose a little bit of faith in the notion of capitollism being the true answer? >> they're losing faith i think in institutions in general. and that's because they have
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not seen a boost in wages, which still remains stagnant. although this administration continues to tell us how glorious the economic picture is, even the jobs picture. even though we know the gdp for the year is at about 1%. the economy is just not growing. so people look at the numbers on wall street, and we talked about this. is it because the fed is keeping interest rates artificially low? or are they doing it to not upset the markets and not upset the dow? and if you see corporations earning billions in profits and they're not he didn't a thing, it can be frustrating. i argue that it is because of overregulation and too much government that this economy is hamstrung. charles: well, it is hamstrung and american -- the american public is going to have a choice come november. >> yeah. charles: thank you very much, kennedy. >> thank you, charles. charles: in minutes, we're going to find out what the fed think so about this economy because they're going to unveil their minutes. in the meantime, the market shaking off a massive decline at the open in anticipation
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maybe the fed to kennedy's grin will be a little bit more accommodative. we'll be right back (announcer vo) you can go straight home. (howard stern on radio) welcome to show business. (announcer vo) or you can hear the rest of howard. bababooey! (announcer vo) sorry, confused neighbors, howard's on. siriusxm. road happy. (announcer vo) you can commute. (man on radio) ...40! no flags on the play! (cheering) (announcer vo) or you can chest bump. yo commute, we got serious game.
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call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ charles: the nsa top secret code reportedly popping up online sparking fears that a hack would appear at the agency. kennedy with us, how scared should web about this? >> i think pretty much anything can be hacked, and we're learning that. and a lot of people watching aren't fans of edward, but what you can say is because he was able to access so many documents, he exposed flaws in the nsa system comes from 2013 around the time that the leaks occurred. so you have someone that was able to access that code, which snowden wasn't, but the
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code is what allowed the nsa to hack into foreign governments. so now it's saying it's a roadmap showing exactly what the nsa was doing. but it might be outdated and there's a chance the nsa of course isn't going to say it. but that thehave beefed up their own firewalls and security and changed protocols so much. charles: that is worrisome when the nsa we're also hearing about this fed meeting. and you're obviously not a fan of the federal reserve. you know, but i'm not even sure what kind of impact to have any -- almost anything. i feel like it's an agency that central banks around the world. they're not helping economies anymore. >> no. they're not. and we can actually see the failure of central banking certainly in this country. and the fed and the -- and wall street as we were talking about are to each other, and i s talking with our colleague peter barns yesterday who
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interviewed the president of the new york fed yesterday as well. and it's tough to figure out who's wagging who. which part of the dog is actually working in concert with itself. and is the fed more tied to the election? and not affecting the outcome of that? or is it about wall street? god forbid we have actual rates that are not manipulate m. charles: can we live without the fed in your opinion? >> i think we could. john wrote a book who needs the fed? i've talked about it on your show before. and it's an important look at the fed failures but also who is going to take up slack? is it the treasury department? is it congress? but i think we need to -- if nothing else, the fed has to be audit, which senator rand paul is a proponent of i i. charles: real quick we talked about fed with respect to capitalism. can the american public take a hit? in other words, everyone says we pumped out all of this money to save the banking industry.
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would it be good from time to time if we took the hit that was due to us. >> yeah. and i think we should have listened to economists in 2008 who said there's no such thing as too big to fail and let some of these other huge guys to fold over because what we've seen aside from tarp would have been their own leveling out process and maybe you don't need this much government intervention. charles: i'm with you. sometimes you have to take the pain, you have to take. sooner or later. >> take the pain, charles. charles: hey, that's the name of a show. in the meantime investors are waiting to hear from the fed. we'll be right back after a short break
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charles: investors waiting for the fed to explain what they're going to do with respect to interest rates. their minutes coming out in just seconds. everyone is on pins and needles. it is really very important to see whether or not the fed may actually hike rates particularly before the election. what they believe is the truly
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the state of our economist. many people right now don't think fed will hike rates. however we had that interview with dudley by our own peter barnes. that changed entire equation. i will talk about this a lot more on "making money" at 6:00. trish regan will take you through. trish: yes. we're 60 seconds away from the release of the fed pins where we see what they actually think. i'm trish regan. welcome, everyone, to "the intelligence report." we briefly crossed into positive territory all for a second. fed left rates unchanged at its last meeting but in parts because of peter barnes's interview he did just yesterday, with bill dudley, one of the federal reserve positive -- governors, people wondering whether the fed might move as early as september. they're looking for any clue that would add to that thinking. people are certainly on edge. nobody wants them to move higher
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with rates in september. that is in part why you're seeing downside in the market. they have to do it at some point. they keep promising and promising and problem is -- promising. peter barnes has them. let's go to peter. reporter: trish, wait on data, especially inflation data. that's the message from the minutes from the july fed fomc meeting. let me read from some of the text here. quote, many participants judged that it was appropriate to wait for additional information that would allow them to evaluate the underlying momentum in economic activity and the labor market and whether inflation was continuing to rise gradually to the fed's 2% target as expected but several participants, some participants, rather, concluded that the committee should wait to take another step in increasing rates until the data on economic activity provided a


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