tv Making Money With Charles Payne FOX Business November 21, 2016 6:00pm-7:01pm EST
aftermath of it. weights of up to 10 feet possibly headed their weight. minor injuries reported. we had charles payne who will continue to bring the latest on that. thank you for welcoming us into your home. have a good evening. >> good evening everyone. it was yet another record day on wall street. the dow and s&p 500 and the russell 2000 all closing at new lifetime highs. shattering the old records. joining me out of the gate. along with steve cortez. you are very close to the trump team. after believe everyone is elated about this. certainly it has defied the naysayers. we had defied expectations. we had defied conventional wisdom. and now he has as president
elect because it was widely assumed on wall street that if he did somehow pull up this upset. that they would go into a catechism. they all had new all-time highs. i am putting my partisan hat aside. is the fact that small caps are leading the rally. with the s&p 500. just today. they blew that away last week and why because they have america first. not just in terms of policy but also in terms of investing. they tend to be much more domestic. there heading there. and voting into america first. it will start to outpace the consumer staple. from 21 percent. and now they are up 21 percent. it's obvious that people are moving out of this area where they were camping out.
on their pouring money into areas that they think it's can work out. you look at the policies that trump is talking about. i had been talking to friends over at the transition team. and they believe that within the first 100 days they've got three economic puzzles that at their and implement. and these will add the tax cuts for most -- both personal. and also the big one getting 10% tax. the second thing is to have a long list of regulations and expense of regulations. >> they would knock off a $40 billion right out of the gate. that's all they're what they're planning to do. but the big one is infrastructure spending and they're talking about it. i've been reading $550 billion. they're talking about
$1 trillion. it's can be paid for with private investment tax credits and infrastructure bds they believe that will add 3.3 million people new jobs. it will create $4 trillion and productivity. if you think about it we have a mediocre growth of a 2% in the gdp right now. this would bring us up to three and a half to 4% growth which is jfk and reagan years this is gonna be spectacular for the stock market it's can be spectacular for wages. and that's why people are moving into things like consumer discretionary things. >> i understand they are excited obviously i trump tower. i am seen it people who did not vote for donald trump the guy who works at the parking garage that uber driver were driver who ever it is they're saying they see something. and in my mind i've always said to have true economic
success everyone has to buy in. it looks like everyone is buying in. i think you're exactly right. it's important. animal spirits drive the economy. it really is. so while i think the policies are incredibly important that our coming out of trump tower. i think it just as important is the renewed belief in america were coming out of a decade of economic malaise. not just president obama but president bush as well. we are better than that as a country. donald trump it's not just policy. but it's also the belief that we can and will do better. it convinces people to do and take risks. i can't be optimistic enough about what the future holds for us economically.
you sought wages finally turn around. but consumer confidence the construction can venture numbers. i'm starting to see them and you have to believe that that is a baton that he can grab and run with but they had naysayers. what you say about it. the trump deficit is can kill all of the stuff. interest rates are to go up. and we will end up with no economic growth. if you look at the the proposals some of them are tax credits that won't affect the deficit. some of them are private investments. the bonds that will increase the deficit but if you look at what working to be doing. they believe that that will offset it. their tax reforms proposals. like reagan and jfk did. or like bush did. he just lowered taxes but did no tax reform.
we just had lower revenues. were talking here about tax reform were corporations that are paying 3% -- through percent marginal 3% marginal tax rates. it will increase money into the government. it mitigates to a degree the deficit argument. i myself the potential trade war. when i cannot move certain manufacturing jobs. they still plan to move a big chunk of work down there. let's say production. they vowed not to upset the apple cart. as an area where you think donald trump will back off or do you think we see signs. i think they will because they have to. what he said during the campaign is very accurate. we like we have a strong
hand. no one wants a trade war. has to be fair. but in the end whether it is mexico, canada or friendly countries to us or not so friendly like china and had to blink. they need us far more than we need them. it is not an equal partnership. i think what is important here is interest interest rates. they have risen dramatically. so far i think that's a very good thing. believes that there won't be a trade war. i think that's where we will end up. what we want from china. what would be a better solution for china greater access to their markets or limited imports from china. i would say they keep growing in their economy. i don't want to reduce imports from china.
i want to increase our access to their markets. and they talk a good game about that but in reality you talk to any american business that does business whether it's actually over terrorist reactions. it is incredibly hard to make money for countries. they have to start -- stop stealing our intellectual property. to make there's one other issue. the corporate tax rate in canada is 18% in mexico at 17%. if we reduce our corporate tax rates done 15% to be a huge incentive for manufacturing to stay here. they are moving for economic reasons and if we get rid of that i'm very bullish that there can be successful in keeping a lot of these manufacturing jobs in the united states. >> i think there is something
to this rally is not the artificial rally that they are trying to induce. something that is more organic and sustainable. the news media is reporting that at least one tsunami has struck. >> in areas where they have a very strong earthquake land size may occur. if you are working in these areas the alerts our out. and as you can see officials there urging residents to flee. march 112011.
the one just eight weeks left in his presidency. they may tweet major parts of the randel. providing more u.s. companies to enter the markets. it has a lot of people wondering is this crony capitalism a lot more. ben, let me ask about this. the notion that we arty know that donald trump ran on the idea of carrying this whole thing up. now barack obama is get a try to fortify it to some degree. >> he certainly is. the reality is that everything obama did. he did it without the approval of congress. president trump can do the same. what complicates this however the russia they'd go right back dove right back into the
iranian markets with abandon. anything that trump trumpets can have to do is can have to get a lot of buy-in. i honestly think that trump looks at the sink like hopefully a lot of americans do. we are talking about a country that has taken american lives and in 14 years unless we reinforce some of these sanctions and advocate that to build the weapons on their own. hopefully he's gonna do something about that. the countdown has definitely started. i think that is a great point. i'm sure boeing went wants in on the action. president obama in the last minute actions here. what is that all about. in my view this nuclear deal is a complete disaster for the united states. and for the world. it's very sad to see in the final days of office president obama trying to shore up
disagreement and as you say with a crony capitalist deal here. and what obama is calling for is what we've seen with french and german and russian companies pouring into tiburon. the world's biggest state sponsored terrorism. they have are spending over 90% in the last year. in western countries are subsidizing in military programs. and it is simply astonishing that president obama has the goal to try to protect the deal even further when it is entirely opposed to the field. and they will scrap it apart completely. they have the goal to actually
pressure barack obama. and of course around the world they are saying this is a gold rush. what does it mean. the american people and the safety of the world. when it comes to cronyism. we are concerned on a deal just like this. it rewards those with deep pockets. we are concerned given this administration and the dismal record. the export import bank. we just saw saudi arabia strong strong-arm demonstration which was trying to get them to buy a bunch that would be subsidize subsidized through this a bank. and we were also able to get a bunch of fighter jets.
to provide revenue for the largest companies in the world. if the bank were not around that a lot of these companies would not be doing some of these risky deals in places like venezuela. they had access to capital. they're some there's some of the richest corporations in the world. we want good strong american companies. but we don't need their deals and backed up at the expense of american taxpayers who are going to be on the hook if some of these go bad. so that is the problem we head with the export import bank. and also in the end it rewards companies with the best lobbyist in the most deep-pocketed financial resources. c1 see when you are talking about draining the swamp. what is the worst case scenario if the rest of the world involved in the steel said it we like it we don't want to back away what can we do. to be frank i think there are
one thing that we can certainly do. we can tighten this a deal in essence and say look. set up giving them 30 days notice we can institute snap inspection. they want to play in the iranian market so be it. what donald trump is saying. we might not be able to stop europe and stop china. bringing to target the companies here in the united states. if you want to go in and start doing deals in business with iran that's fine. but you can have some u.s. size assets and companies. we can target to those those which is essentially get to be if we were targeting there because of the market size. to make this deal a safer place.
election process. in the hesitation to use the phrase radical islamic terrorism. let me start with you. i thought it was a brilliant move. she has gotten a lot of people who admire her on the right. particularly because she said to hawk when it comes to calling out islamic terrorism. >> they were people who stood up for their beliefs even when it was likely not the safest thing to do. or you look at representative. he's not looking at people whether they are based on the original team but whether they had subject matter. it's basically the reason he was elected. she is obviously a very important person for him to be talking to whether or not
she's actually getting an appointment or just working within menstruation. the type of person we are seen in going through those doors. >> it will be a long shot. for her to be secretary of state. but over the weekend mitch romney made his track. people say they have a legitimate shot. the olive branches out there. he's now single-mindedly focused on building the government. he is casting a wide net. he doesn't know a lot of these folks. loyalty plays a bigger role. his to find out who can fit some of these key posts. she is a favorite. she could be the un ambassador. but not only is she hawkish cleanout president obama she is also against
interventionist policies. she is a very similar world view. a lot of people outside the beltway don't know that. i think should be a good face of modern america to the rest of the world. it does sound like donald trump will bring in someone from the other side. usually that has head. that's usually the job because the other political party. but how do you see it so far. they had been transparent the public has watched them. with intrigue and i think a large degree of amazement at donald trump with this large net out there. >> he is acting presidentially. he is trying to unite the country. this is so someone like mitt romney who is very critical of him coming into his administration to be secretary of state shows that he is a bigger man and reaching the level of the office to which he was elected.
he is can i need her as well. james mattis is another fantastic pic. it would require a waiver from congress. because he was an officer. donald trump has already made some major appointments. historically although i think there is such an appetite out there for this news to come out sooner rather than later. in part because of who he is. and also the ambition. to hit the ground running. it's a bit like a game show. he is the bachelor and we get to see who ends up getting a rose. and people like that. they think he is really embedding them he's keeping it interesting but is also making
pics that a really good. the nonsense about the transition team having trouble he so far ahead of schedule. i head of schedule and under budget. he's really cranking them out. he has certain themes that were seen. i would not be surprised if someone like that wound up at the office of veteran affairs which is sort of a mini obama care problem. i think there is another aspect going on. he has elevated her among democrats. it also gives him a partner in the house. and it also heightens the disarray among democrats. with them. in an all out civil war. it's something very smart politically for trumpet to do. >> the whole media meme it was really a great show.
they live in a bubble and they believed what they been told that this is just a racist sexist everyone of these things shows that he is not that. is undermining the means of the left with strong visuals. >> the more they continue to dump on him. i like the fact that he's acting like an independent and taking a statements approach. if he lays on the right the right foundation america will succeed. >> vice president elect pentz has been enormous as well. thank you very much. were now that they had arrested a suspect in connection with the execution of a police officer over the weekend. we have more coming up also. we will delve into that. appeared headed p hitters sound off on the biggest issues facing america today.
robert murray on whether trump can actually save the industry or is it too late. what should be done. the registry for muslim immigrants and the war on cops claiming two lives over the weekend. we will be right back. ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. which allergyeees. bees? eese. trees? eese. xerox helps hospitals use electronic health records so doctors provide more personalized care. cheese? xerox healthcare services... ...soon to be conduent. that's it.
charles: well, that then candidate president-elect trump. on the campaign trail in may, promising to save cold industry, many are -- coal industry many are wondering if it is too little too late, joining me, murray coal chairman and ceo robert murray, your epre oppression is the -- expression is best i have seen in years, can your industry be saved? >> it is not too little too late. mr. trump is on the track to do thins that needed to be done on bring coal industry back, first he must eliminate 82,000 pages of illegal regulations passed by mr. obama by executive fiat without the approval of congress. second he must end the 21
paris cord and elim eliminate subsidies for windmills and solar panels, get back to a level playing field for all forms of energy. if he does, that coal will come back. the windmills and solar panel are 26 cents, this was not only a victory for working men and women of america but for colo--- low-cost reliable energy in america. charles: i don't think a lot of people understand the depth in despair and misery in coal community brought on by president obama. >> he eliminated 63,000 direct coal mining jobs, studies show by university up to 11 jobs are created for each one of those 63,000 jobs.
you can see, it is a million jobs that mr. obama eliminated with his policies, in the most depressed areas of the united states of america, mr. trump cannot bring coal industry back to what it was. mr. obama closed 411 units, if we can get a level playing field, get government out of picking windmills and solar panels, winners and losers, if we compete on a level playing field, we'll come back. charles: coal did well, i looked at a few global coal companies, i see where metta learningical -- coal price z have gotten better. >> it will be a boost, also, there are 7.4 billion people on the planet, 1.3 billion of
them do not have access to electricity. world markets demand our coal. last week, china announced even though it supported initial claim at tree it is increasing it coal consumption by 20%, the world need our coal, we'll do just fine if we get rid of the regulations, and get the government out of picking winners and losers, as to how the electricity is manufactured. charles: we just have breaking news with the another major tsunami after an earthquake in japan, that brings to mind that country no longer wanting to rely on nuclear, they havey in natural resources, a chance for to you to three.
>> energy information said that world electricity consumption will increase 1.4%, every year between now and 2040 that is a great opportunity for american coal. charles: good to see you, in an upbeat mood, that means that the average american, whether the household or a business opene open owner or someone who' a job is going to do better. >> thank you. charles: major averages ending the day on a very high note. all markets smashed their ways to record highs, my market commentary is next. [vo] quickbooks introduces jeanette. and her new business: i do, to go. jeanette was excellent at marrying people. but had trouble getting paid. not a good time, jeanette.
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charles: the market closed at record highs, after close palo alto networks posted earnings. stock is getting hammered this a perfect entry point for long-term investors. i want to talk about my stepping stones for making money for long-term investors, you need to drill down to understand why this market could have legs to go higher, for me my work begins with peace at world and home, terrorism and war have been on the rise in last decade. isis could soon be broken. we have key wars winding down, once peace prevailed optimism grows, the green chutes cut short with obama years because
we had antibusiness policy, swift changes can be made to remove them, they will have an immediate impact, you heard someone talk about animal spirits, i think they will takeover. we'll get more than velocity of money but also velocity of excitement, risk taking and opportunity. this create a waive of prosperity, a manic feel to the rally but is orderly and realistic. it is easy to become over bought. but bias is now to upside, you should not miss it. do not dismiss this rally. for a comprehensive version of what i'm talking about. the fundamentals of making money go to my web site. and speaking of opportunity, there is a lot more in oil patch, after russia hinted at a deal with opec producers by the end of the month.
that -- west texas, i like devon energy. and a clear shot to 53. i have some pretty tough bad news right now, breaking news. authority report multiple fatalities in a school bus crash in chat -- chut chattanoogaa, tennessee. >> now, police officers were targeted because of their uniform, former nypd commissioner bernie carrick on why this is happening and what we must do to stop it now. totaled new car. ll var the guy says, "you picked the wrong insurance plan." no, i picked the wrong insurance company. with new car replacement™, we'll replace the full value of your car
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charles: breaking news a suspect in ash bush-style murder of a san antonio police detective now in custody, police declaring that the uniform was the target. joining me now, former nypd commissioner ber bernard kerik, this is is amazing we have 4 police officers targeted since friday over the weekend, two dead. >> two day before that a u.s. marshall that was shot and killed. with justice department. you know, this -- i think this represents this national war against cops. rhetoric that has been pushed by the government. you know, to see what they are going through right now is demoralizing.
we have to have leadership in the white house, that will support them, and leade leadership in the governor's office that supports them, this is terrible. charles: is there something from a policy point of view, in particular the new administration that could have an immediate impact? >> i think that biggest thing, is support. >> rhetoric. >> you know rhetoric. you know. people out there this whole antigovernment, antilaw enforcement. antiestablishment, antilaw and order mentality, you see it in protests, in the attacks on cops, in political rhettic, in our schools, what happened last week after the election was appalling. the kid out there protesting the government. protesting the new president. most of them done didn't even
vote, that is appalling that is generating, and sort of perpetrating this antigovernment thing. charles: in the meantime in last week we've heard from a lot of tea mayors, and a -- city mayors and police chiefs saying they are not going to listen to president-elect trump, they will look out for save the osafety of illegal imgrants even those with criminal records. >> first of all police chief work for mayors, i bet that mayors in those communities are democratic, and they are their boss. they are telling them when they can or cannot do. you need -- if you are a police chief or commissioner, director of police, stand up, and enforce the law, you can't just say, we're not going to enforce the law. it is one thing to not hold illegal immigrants, because you don't have the capacity, but when someone violates the
law, commits a crime, and they are illegal they should be dealt with then turned over to imbreato im imgration 40 for processing. charles: have you dealt with. this week rudy guliani met with president-elect trump, he is being considered for a cabinet position, most likely secretary of of state, talk to us about rudy's qualifications for that job, his temper a temperament and what he may bring to it. >> people don't realize, as mayor of new york city have you a think about this is big -- budget that is bigger than problem 40 different states. governor of massachusetts is budgeted about the same, he has a united nations in new york city, he has to deal with over 100 nationalities in new york city, jewish population
of new york is second to the state of israel. and then rude rid rudy guliani in aftermath of 9/11 we saw his leadership, national leadership, we saw him in constant communications with dialogue with international heads of state. then, international business affairs, he was a private citizen, in private business, and has worked all over the world, done so quite well. >> right, next when we come back, we want to talk about america's sanctuary cities and this massive revolt against president-elect trump, these guys vowing to go against him, and a lot of talk about a registry, next.
charles: we talked about how there might be snrifers sworn to do their duty and might we sift this. but a president-elect trump. it's the power of the purse. cut off funding to this cities. >> and any government agency. that's the reality. the police chiefs around the country. it's not their job to go out and pick up people wanted for immigration violation. but when they come into their
purview and arrest them stop crimes and criminal conduct. then it's their job to respond accordingly. if they are not going to do that, i can see the president having some power in holding back federal funds. charles: you had mayoral deblasio go to trump tower and hold a press conference outside and essentially challenge donald trump, say i'm going to stand up to donald trump and defy his law and order candidacy which swawls overwhelmingly approved by the american public. >> you can defy him all you want, but that doesn't mean you are going to win. especially with donald trump. if donald trump in my opinion -- i have known him 20 years, if he runs government like has run his business, the mayor is going to have a hard time dealing with him. charles: over the weekends prienreince priebus came out.
nbc tweeted out a small piece of his answer about not being able to rule out muslim registry. they didn't add the part where they said the trump administration is not going to go after people based on their religion. how do you see this playing. so far all of the appointees have strong -- they are strong on immigration and strong on radical islam. it feels like that's one promise that will go through and the mainstream media is losing their minds on it. >> what the president-elect will focus on and his people will focus on is predictive pre-profiling it has nothing to do with religion. it's hot bad guys are and where they are and what we can do to keep them safe. charles: you judge that on where
they come from? too where they come from, who they associate with. it's no different than when i ran an investigation with the drug cartels in the 90s. you look at where they come from and who they hang out with. charles: can we take that approach with homegrown terror. >> a lot of that is going to have to do with our intelligence capabilities and how good we are doing. >> we get that information and don't foul on it. we put them in a file and it gathered dust and two years later they blow something up. >> this comes from the lack of resource. the f.b.i. has 14,000 sworn agents. they need more people. they have 11,000 of these trg etd of thesetargets under inves.
charles: surveil some mosques if very signs bad guys are gathering there? >> i completely agree. >> if you can't catch the show, dvr it. we have been making money. here's lou. lou: good evening. 59 days until the inauguration and president-elect trump meeting with former rivals and candidates from both party auditioninger advising in trump. kellyanne conway praised the trump open process. >> he's been talking about transparency and it's part of draining the swamp. he's been somebody who has been