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tv   Making Money With Charles Payne  FOX Business  November 12, 2016 6:00pm-7:01pm EST

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>> breaking news. another record on wall street. the dow closes at another new lifetime high. once again we have to give credit to the art of the bill. they sparked yet another late session surge. trump now saying that he's open to keeping parts of obama care intact and perhaps allowing parents to ep their kids on their insurance plan until their 26. they cannot discriminate based on pre-existing conditions. it's out at the chief.
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mike pence is taking over. the full team is comprised of insiders and loyalists. the only current member of congress serving as a vice chair on the executive committee. also on the team ben carson. several members of the family. before we get into all of this we also had more breaking news for you. the trump organization telling foxbusiness we are in the process of getting various structures. of that trump organization in its portfolio. along with the team of highly skilled executives. this is a top priority at the organization and the structure is selective and will comply. a lot of developments to discuss tonight. let's bring them in. senator brown first of all congratulations. you are one of those.
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you saw something it took a lot of other people a longer to see. all the news broke late after 3:00. we did a very sleepy stock market. donald trump makes all the right moves and takes off. >> this is nothing new. he said it during the election. he was looking forward to transferring everything into his kids. they are very compost. and they will have business executives and others there with experience. no different than what michael bloomberg did. either i do what he did was appropriate as well. it is a good move. it sends the right message. and that coupled with the new addition of governor pentz and everybody he recently mentioned it all mean something to me. it's not a surprise. i'm glad it's helping with the market and calming everybody's fears. we have a few.
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it's early. it's only 72 hours. here is a thing. i'm calling it the art of the deal because our obama care i think donald trump want to hit the ground running. he's made some serious promises. he is already dangling something out there for democrats. they hold it near and dear to their hearts. maybe this helps them get through quick tax reform. do you like this. charles, i think what he has to focus on is the limits of that and that is a tax reform the infrastructure one if he's not careful washington will run away with that and all the money will go toprojects and not actually be spent on infrastructure. and on obama care i think it is the art of the deal. he has to replace it. he has to repeal and replace but put in the trump version that takes care people that has needs along with the free market principles that he ran on in the campaign.
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so individuals can have a choice about how they do it in their dr.. there's no doubt about that. this is nothing new once again. there are plenty of plants in the house in the senate to actually repeal and replace it and a lot of those things that people care about covering your keys kids until 26. that is replacing even though there is still part of a previous plan. and then the border competition allowing them to bed and not mandating that this one size fits all approach. i want to get too hung up on it. for me the way i i'm looking at this when i think the market responded to it. he's putting out former compromise if you will saying hey. this is something i think we should do. and showing not only a different side of donald trump but also setting up the stage so that when he asks the democrats in congress to work
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with him he is already made an offer. >> don't forget harry reid changed the rules. fifty-one votes needed in a whole host of things. if i'm not mistaken that's on tax reform and a whole host of other things and we had 51 people so it's up to them to figure out if he wants to be part of the solution or part of the problem. and what trump can do is turn to vice president mike pence. he started to vouch for some of that. he can take that idea just run with it in this new version of obama care let's put the free market program they been talking about them for years and then put them out there. trump can get credit for actually making it a lot better than what they had even before obama care. >> of course all of the schedule scuttle this week is about cabinet members.
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over 5,000 people replied to it and barely the question was should donald trump include never trump or establishment types or should he be considered those traders. or should they just look for talent as talent. it was closer than the election. put it that way. clearly there are people out there who are very bitter towards those who did not only help donald trump that went against him. how do you see the cabinet filling out. >> i was the first one to support him actually. i was honored to do it. i just want the best people regardless of their race, their color their beliefs. helping donald trump to guide us through and bring us back to helping make america great again and stimulate our economy. i think the biggest and best thing we can do right away
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your financial brain is immediately repatriating all those offshore monies. that offshore money that can help actually pay for that infrastructure stimulus bill. in any of these things as we were talking about right now. you have to prioritize what your needs are. so you don't have those import projects. what the needs are. it is can it be hard to demobilize the democracy there. never goes to what they intended to. when i interviewed a donald trump i said just get rid of the tax thing. maybe just havg a window that will create a window of urgency. having said that is a early or should they even care that some diehard fans and they stood by them with the establishment and they tried to bring them down. there can be a little
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disappointed by that. even parts of obama care. i think they will be. i think some of the quotes sounded like it was all amended and i think that will send the earthquakes through the people that voted for him. be snookered by obama and get rid of the whole thing. get some of the good elements back in. start over so he has control over what is in that bill. i agree with scott. pass the tax bill. that will stimulate growth and make real growth. i would use it to offset the cost in lost revenue from some of the other tax sensations. now they're talking a trillion dollars. before i let you guys go. and more or less said that there would be a guy named scott brown who would be perfect to lead the ba.
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i think he would be a perfect candidate. is it something you're thinking about. i love veterans. i served for 35 years. and i know all of the issues and the skeletons are buried. when the president calls you sir. i don't care what president it is. our vets are in trouble. also housing is a very important thing. we have to get inner-city housing moving. that is a great economic engine. i will do whatever he wants. if he wants me to run the gym i will do that. they want your voice was loud and clear. i think you would be a great person for either job. both of you guys are fantastic.
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coming up the newest victims of social justice. now it's even more specific. we will be right back. gary, gary, gary... i am proud of you, my man. making simple, smart cash back choices... with quicksilver from capital one. you're earning unlimited 1.5% cash back on every purchase, everywhere. like on that new laptop. quicksilver keeps things simple, gary. and smart, like you! and i like that. i guess i am pretty smart. don't let that go to your head, gary. what's in your wallet?
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impressive linda. it seems age isn't slowing you down. but your immune system weakens as you get older increasing the risk for me, the shingles virus. i've been lurking inside you since you had chickenpox. i could surface anytime as a painful, blistering rash. one in three people get me in their lifetime, linda. will it be you? and that's why linda got me zostavax, a single shot vaccine. i'm working to boost linda's immune system to help protect her against you, shingles. zostavax is a vaccine used to prevent shingles in adults fifty years of age and older. zostavax does not protect everyone and cannot be used to treat shingles or the nerve pain that may follow it. you should not get zostavax if you are allergic to gelatin or neomycin, have a weakened immune system or take high doses of steroids are pregnant or plan to become pregnant. the most common side effects include redness, pain, itching, swelling, hard lump warmth or bruising at the injection site and headache. it's important to talk to your doctor
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about what situations you may need to avoid since zostavax contains a weakened chickenpox virus. remember one in three people get shingles in their lifetime, will it be you? talk you to your doctor or pharmacist about me, single shot zostavax. you've got a shot against shingles.
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hey, drop a beat.flix? ♪ show me orange is the new black ♪ ♪ wait, no, bloodline ♪ how about bojack, luke cage ♪ oh, dj tanner maybe show me lilyhammer ♪ ♪ stranger things, marseille, the fall ♪ ♪ in the same place as my basketball? ♪ ♪ narcos, fearless, cooked ♪ the crown, marco polo, lost and found ♪ ♪ grace and frankie, hemlock grove, season one of...! ♪ show me house of cards. finally, you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. charles: you remember when pundits and posters alike said that they were running there. if you thought he stood us chancea new york post, said this to say. what if it currently captures it. by giving a voice to the voiceless. folks drowned out by the
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drumbeat of social justice reuters. six months later here we are with the president-elect. refusing to obey the rules of conventional idea politics in fact is yesterday the ceo he said they insinuate that employees that a great should immediately resign. welcome to the show. the social justice lawyers has gone nuts in the last 72 hours. you had ceos threatening the employees. your protest and riots breaking out throughout the country. you had people like that with the protein -- profanity faced letters. but we had been at the mercy from long time heavily? >> i would say that cultural climate in general i would say
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taken over but dramatically informed by the various social justice movements that are out there. all of the identity politics has really come to dominate in a way defined what is inappropriate cultural conversation. so harry reid puts out a letter today. it is more or less the same work in a --dash we are not to let donald trump battle against the list of victims. i see it is their way of keeping power. you are the victims these are the bad guys and we are the only one who can save you. >> when it comes to politics it is much broader than that. i think that's it's gonna really had to happen. has a very narrow definition of who gets to play that game. some to get to say you are able to be part of this
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conversation you're able to claim that. i think that has to happen now. it's going to be a broader definition. who gets to claim a seat at this table. what does the table look like. i think that is what donald trump is really same. folks in middle america they also deserve a voice in this conversation about victimhood or not victimhood. he gave them that voice. what about the notion that these so-called victims of the system or whatever it might be that they don't have to necessarily be identified by race or gender in the first place. >> i think that is not necessarily can work. at the end of the day they are always connect self identify. we live in a tribal nation.
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how do you unite a tribal nation like that. they are always looking for social justice that were angry the day after we like to the black president than we were before. >> how do you ship that paradigm. to make way for different voices in that conversation. the folks that have been at the forefront of social justice movements are now having to take stock. having to realize that for the last year or two they had had rent and center within the media to air their grievances to promote their agenda. for many people it's very much incorrect. at the same time the agenda has drowned out other voices. it has said to other people. you cannot be part of that conversation. they said to other people they have to obey it by our rules. the big part in my opinion is about saying who gets to
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speak. and what they have to do now is broaden that paradigm. that was made quite clear on tuesday night. it was a directive. it was a moment where people who felt that they fell silent people who had felt ashamed i think that was one of the key things that i spoke about. a large segment of this country that hasn't have a voice has been made to feel shame. they been made to feel diminished because they might not necessarily a great agree a great with a larger cultural conversation and now they are coming out of that moment and saying we want to be part of the conversation and we demand and we are going to dominate that conversation if we have to. we've done so by elected a president that supports my views. they have shown to be themselves . we really appreciate it. charles: honoring our nation's
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charles: we have an update on a story for you. he is the disabled 16-year-old who used his might to stand up from his wheelchair when the american flag past him passing during a parade. his patriotism inspired veteran scott leak so much that he convinced his employer to give eric a standing wheelchair said that now he can stand for the stars and stripes. president obama marking veterans day. >> when the election is over as we search for ways to come together to reconnect with one
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another and with the principles that are more enduring than transitory politics some of our best examples are the men and women that we salute on veterans day. charles: in the night that president-elect trump became president he made this promise. >> we will also, finally, take care of our great veterans. they been so loyal. i've gotten to know so many over this 18 month journey. the time i've spent with them during this campaign that has been among my greatest honors. charles: trump has vowed to help veterans. he said it starts with the bureaucratic red tape and getting over it.
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representative. thank you for joining us. this is been a major issue front and center for a very long time. we were told perhaps we have an outside business like mine to go in there we could see major reforms of course that has not happened. how excited were emboldened do you feel now that he has made a top priority. >> extremely excited. the thing that needs to be done first and foremost is to provide accountability and that is something that donald trump understands. you can have a world series when he team if you're not willing to get rid of those who can't or won't play their positions and unfortunately the department of veterans affairs under president obama for the last eight years has been a bureaucracy that just
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doesn't want to move in the right direction. >> we hear about that also in all phages -- phases of government. the bureaucrats had developed a system elaborate if you will that is so intense that they can weigh out any president no matter how well meaning that president is. are you worried that they may hunker down like that here. >> they've never have a donald trump in the white house before. i think that is a thing that the thing that folks are so excited about. this is something that understands what needs to be done from the top of the executive branch. and that is to bring accountability and transparency. what has been done in the past is people have burrowed into their jobs and you just can't get them out. were talking about not the people that are doing the right thing were taught about
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the people that can't or won't do the job that they been hired to do. >> let's talk about that part. i think that's a major issue. particularly senior positions. they can't, they really don't have the wherewithal to do it. sometimes just because the system and it finds a way to creep up. and then they are stuck there. at the end of the day it's a veterans who are given the short end of the stick. is there a way to get in there and get rid of these people even if it means reassigning them somehow getting them out of their jobs quickly so we can get this ball rolling. >> we passed an accountability bill a couple of years ago when the phoenix problem corrupted. unfortunately secretary mcdonnell in the president have chose not to use the firing authority because they have deemed unconstitutional. it is not their responsibility. the problem is we still have pieces of legislation sitting in both the house and the senate side.
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they've already passed a bill. the senate has their own bill. we need to lay down all of the political savers at this point. they want to make sure that poor performing employees are those that break the law can in fact be disciplined up to and including firing. charles: there is a lot of talk in the past that we need a business like mind to have up the va. also the ability to maybe use private hospitals or some sort about your system to expedite care. is important where the new leadership comes from at the va. of course to be quite frank with you. your name is floating around as well. >> there is no question that donald trump believes that choice is the path that we need to go on. we just head a year-long study that was done presented to the congress and basically it says that veterans need to be provided the choice as to where they go.
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and when they go. and who they want to see. i think that is the way healthcare should be delivered and is being delivered in the 2t century. charles: donald trump finds an unlikely ally in the war with see me. see me. don't stare at me. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75% skin clearance at 3 months. while the majority saw 90% clearance. do not use if you are allergic to coseyx. before starting, you should be tested for tuberculosis. an increased risk of infections and lowered ability to fight them may occur... ...tell your doctor if you have an infection or symptoms...
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charles: it turns ought immigration may not be the
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number one issue for this election. at least we thought it was initially. now we are hearing it's trade. specifically donald trump's stance against the traditional free trade agreements, particularly nafta. not you united auto workers union is ready to join the fight with donald trump to dismantle nafta. ed, i went out yesterday and made a prediction. i think donald trump will give major concessions on nafta right around inauguration day. have ge minister who blinked. he's got a meeting with the mexican prime minister before the inauguration. and i think this is something similar to ronald reagan, getting hostages released on the day he was sworn in, it's something that came to that. >> it am not clear to me what they can give.
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i think workers in mexico, it's 25% of the benefit. i think we will be successful in the throng run. but they will have to find some common ground with trump on trade. right now a dollar comes back at debt that we have to borrow and spend. charles: we give something in return of value. we may get back -- like we deal with china. we give them our money and give back a cheap television. wear in counts that tv as part of the financial equation. >> that's definitely right. but they get that dollar. and they loan us that dollar back. we have to borrow that dollar and spend it to bring the jab back that was lost to trade. now we have money sitting on the
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sidelines at zero interests rate. as long as it's balanced, then i think you would be a lot less sensitive to the deal you negotiate. charles: you look at all the things that flipped the red states, there is no doubt in my mind it's about nafta. the american public wants some justice there. >> i spoke to many people i know in unions. my husband works in this capacity. he works with businesses and unions and he's always gone labor law and worked hoard hard on that. i noticed there were a lot of rank and file union people who were planning to vote for mr. trump for exactly this reason. they didn't want their union bosses to know and they probably weren't telling pollsters either. these may be some of those in that hidden trump vote. they have been sold down the river, charles. election after election by their
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union boss who are in cahoots with the politically elite, and they pulled away their jobs from the country. this is very exciting. this is a glimpse into what economic freedom may be like under a ford administration. charles: the union bosses are saying we want to help. the uaw obviously, they are against it as well. they want to join the trump team to find a way to make this a better deal. >> the 400,000 member uaw. you have to understand that one thing they are concerned about going forward with all sorts of trade deals. not just nafta. one of long-term and short-term impacts on the american worker. i think the republican party will be wise to listen. if they pull off this coup it may be good for the party moving forward. trump won michigan by about a
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point. it means we could bring new voters into the tent, particularly working class white voters in the industrial midwest. charles: bill clinton signed nafta but it was a compromise. the majority of folks who signed on to it in congress were republicans. you have got to change minds among the establishment types. >> i think the republicans are under enormous pressure to compromise. we have to find common ground if we want an enduring coalition with trump voters. charles: thank you all have much. the dow ended the week on a high note, a real high note. a lifetime high. my market commentary is next. i asked my dentist if an electric toothbrush was going to clean better than a manual... he said sure, but don't just get any one. get one inspired by dentists, with a round brush head!
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now that fedex has helped us we could focus on bigger issues, like our passive aggressive environment. we're not passive aggressive. hey, hey, hey, there are no bad suggestions here... no matter how lame they are. well said, ann. i've always admired how you just say what's in your head, without thinking. very brave. good point ted. you're living proof that looks aren't everything. thank you. welcome. so, fedex helped simplify our e-commerce business and this is not a passive aggressive environment. i just wanted to say, you guys are doing a great job. what's that supposed to mean? fedex. helping small business simplify e-commerce. charles: donald trump has beenis to buy that truck.
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policy ... charles: president-elect trump makes late news that sparks the market rally. the art of the deal stuff, as word comes through trump is prepared to keep the two most popular aspects of obamacare, no restrictions on young adults being on their parents' plan and the scuttle butt about the new administration that is likely to bring back glass siegel. this came as donald trump's transition team is being announced with only one current wall street insider. that gives confidence that key
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commitments to business as usual will be kept. the first 100 days must see passage of new tax policy. it's a big number that probably there will be private rumblings. spending in the meantime has been down. september we saw public spend on projects down 8% from a year earlier. ironically it's become clear the market rally is doing more for animal spirit than 8 years of a bull market did to stir the spirits because fed money printing is phoney. think about the save havens, consumer staples, dumped in favor of discretionary stocks and services.
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some stocks have gone the ahead of themselves. but the greater risk for you is not being in the stock market. especially for those of you who missed the obama rally. the trump rally will be on things you can get your hands dirty with. i'm working on a brand-new trump rally report. go to my website for a free copy of that and a daily commentary, w street.com. make sure you catch "wall street week" tonight at 8:00 p.m. eastern. i want to give you a sneak peek at david stockman. >> $20 trillion ticking time bomb called the debt ceiling in front of us. that will happen in march. the new trump administration is going to inherit that mess. i call it a sneak bomb from the left from last october when they
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made that deal for the new president, and it's going to consume the entire first 100 days, trying to get that thing through. charles: can donald trump learn the silver lining in an otherwise tough economy? why are you deleting these photos? because my teeth are yellow. why don't you use a whitening toothpaste? i'm afraid it's bad for my teeth. try crest 3d white. crest 3d white diamond strong toothpaste and rinse... ...gently whiten... ...and fortify weak spots. use together for 2 times stronger enamel. crest 3d white.
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charles: president-elect trump and his family are giving their first post election tv interview. the president-elect trump talks about obamacare and the call he received when election night ended. >> hillary called and it was a lovely call. and it was you a tough call for her. i can imagine. tougher for her than it with
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have been for me. for me it would have been very difficult. she couldn't have been nicer. she just said congratulations, donald, well done. and i said i want to thank you very much. you were a great competitor. very strong and very smart. >> what about bill clinton? did you talk to him? >> he called the next day, he called last night. >> what did he say? >> he couldn't have been more gracious. he said it was an amazing run. one of the most amazing he's ever seen. he was very, very really very nice. you said that you might call the * for advice. would you think of calling president clinton for advice? >> he's a very talented guy. both of them. certainly i would think about that. charles: in the meantime the economy trump is inheriting has a lot of problems.
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but there are some positives i think he can build on out of the gate. besaw consumer sent i am surge to its highest level since june. americans are more hopeful about their current and future condition. i want you to keep in mind this survey was conducted from october 28 through november 8. election day. most of these takers assumed that clinton would win. the numbers will be revised november 23. they take the reins back to november 20. when they revise sit that number will be a lot higher. we also it's been anemic growth. that's helped propel the billionaire builder into the white house in the first place. wages are beginning to turn higher. let's discuss the economy that donald trump is inheriting. donor is back. and david macintosh.
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you are an expert with small businesses. looks like wages are starting to go up a little bit. it's a long expansion but sort of tepid expansion. what does donald trump do for it? >> as a small business owner i can tell you anything that reduces the burden of tax regulation and cost of running a business is a healthy proposition. we need to look at it through that per second tough. i think a lot of the miss panic and minority vote that did grow to trump had to do with this economic position. he has that in his first 100 days. introduce a new regular installation? pull two out. charles: those voters i think also represent the lost entrepreneurs. we -- we hit the lowest level of entrepreneurs. there is something about creating that "morning in america" thing.
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i think what we have seen from donald trump the last 72 hours will give people incentive to start businesses. >> access to capital has become so difficult after the dodd-frank. when you feel by taking risk you are going to be punished, yes, there is a positive silver lining here, putting party differences aside to look at the economy. >> on a big business side, we talk about consumers being 2/3 of the economy. but we need businesses to put money to work. get rid of the repatriation tax. these guys are sitting on a couple trillion dollars. >> if we cut the corporate tax rate to 15% we'll see a lot of money come back. that tax money would flow back into our economy and we'll see
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the stock market surge. we issue a million green cards a year. we can immediately shift from low to high skilled and get the kinds of entrepreneurs you are talking about. combination of the two would be very powerful coming out of the gate. >> i couldn't agree more. i think the key thing obama has done is stifle growth through the regulations on bank, community banks and big banks so businesses can't get funds they need to run their siness. higher taxes. am refusal to do anything about the high corporate tax rate. trump can come in and change all that. his tax cut proposal is as fantastic proposal. the tough one will be cutting through all the regulations. there is a long list. you have got dodd-frank and net neutrality. you have got epa regulations that stifle energy production in
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this country, and threat on raise energy costs. for small business, that hurts employment. they have to spends $18,000 per employee just to deal with red tape. charles: one of the big winners this week are restaurant stocks. they are looking at getting rid of obamacare and the ownerrous restrictions that hurt them. >> the trump team fires a warning shot over the wow of the obama team. we'll be right back. my business was built with passion... but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. with it, i earn unlimited 2% cash back on
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. >> we talked about foreign policy. we talked about domestic policy, and as i said last night, my number one priority in the coming two months is to try to facilitate a transition that ensures our president-elect is successful. charles: that was president obama discussing foreign policy with president-elect trump. now there are reports that suggest obama's contemplating taking one last stab at parts of foreign policy including israeli-palestinian peace talks and trying to approve tpp. trump's aides reportedly told the outgoing administration not to make any more foreign policy moves, saying, quote, it's not just going to be counterproductive but sends mixed messages. joining me paul boncelli to discuss. we know president obama had a wish list of things he wanted to accomplish particularly on
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the foreign policy side. i'm not sure what he thinks he can get done right now. would tinkering with this be a disaster? >> it really would, not just causing trouble for the trump administration, of course it would, but it messes with allies, they're in a difficult situation, country or enemy they're in a difficult situation, they have to deal the next four years of president and don't need to be on the record saying or doing things different from what he knows they wants or trying to guess he wants. the problem i have with president obama and his team, they're mad about the outcome, the election, and want to do more symbolism, and that's what a lot of the administration has been about. i hope they avoid it. charles: he's going to be meeting with counterparts, hollande, may and maybe merkel. again, maybe a farewell apology tour, if so, so be it, but if it's anything more than that, seems extremely counterproductive.
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>> yeah, i hope in private he doesn't apologize for the american people for foreign powers. who knows that he might. i understand the foreign powers having concerns about donald trump, he certainly talked about policy in ways that they weren't used to. it's his right to. he's running for office in the united states. i expect some of the things they have said, they feel they need to say but expect they're going to get in line very quickly and have good relationship with us. after all, it's not just donald trump. there's a lot of other people have been announced. the president-elect, the vice president, newt gingrich, these are all known people. not like a strange group took over that nobody has heard of. charles: paul, we've begun the effort to retake mose and you will have the battle going on in raqaa, so donald trump will come on just in time for these things. how does he adjust to this? you're not going to pull the plug on these things, so how would that interfere with his
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notion that perhaps we should be pulling back on these conflicts? >> you know, i think two things are going to happen. he intends to follow through with a single minded focus on isis, and i think that will be done in the context of allies and a reinvigorated relationship with people on the ground. the nations in the region that we're going to work with. part of that is because he said that from the beginning and everyone knows he does not want another huge amount of u.s. troops in this arena. i don't think there will be none, he'll have all of that on the table with his new advisers, it will be smarter and more in the interest of the united states as opposed to posturing for a legacy. charles: and the bottom line, that would mean that the rebels we're backing but not sure who they particularly are, they are more or less left on their own, russia, we want to work with you to get rid of isis, first and foremost? >> i think donald trump has the ability to say russia, the rebels, everybody is going to work according to a plan that
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the united states is putting out because they'll know he means it, for the first time. charles: paul, thank you very much, appreciate it. >> thank you, charles. charles: at home, an exciting and eventful two weeks. we worked straight through. lou dobbs has an hour or two left. see you next week. lou: good evening, everybody. it has been barely three days since voters elected america's 45th president, but president-elect donald trump is on the move. he's working hard at selecting his transition team, selecting who will join him in government, in the white house. in his cabinet. throughout his administration. president-elect this morning tweeted about the decisions he'll be making saying this -- but the president-elect is creating a structure and organization around him that

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