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tv   Making Money With Charles Payne  FOX Business  December 20, 2016 6:00pm-7:01pm EST

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liz: the dow almost hit the record 20,000 mark. "making money" with charles payne. thanks for having us in your home. charles: good evening. i'm charles payne and you are watching making money. breaking news. another record on wall street. the dow and nasdaq soaring to record new highs. the dow inching closer than ever to 20,000. is this too much too soon or is the market simply forecasting an amazing economic revitalization during the trump montana i? joining me to discuss, eric
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shipper. eric, we have talked about the animal spirits, we have seen them across the board. manufacturing and small businesses, does the stock market rally a harbinger of great things to come or is this something we should be worried about? >> it's exciting. i think it's a read on what's going to happen. i think people are understanding trump will deregulate and cut taxes and create a fiscal stimulus. so you have got money coming from overseas. it's not just overseas investors. the actual retail investor sees jobs improving. wages improving. the economy getting better. i think this will continue until there is some evidence perhaps china and other countries could
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slow it down. there is a chance there, and that would be they don't get with the same kinds of fiscal changes trump is doing himself. charles: i think china will be forced to do things and try to match it. certainly in intensity with their bids. tim, let me ask you, the americans for prosperity, how are you feeling about the way donald trump is come posed, the composition of his cabinet and the gop congress to put through the policies needed to justify this rally? >> so far so good. hopefully the environmental protection agency will get rid of some of the nutty stuff the obama administration has con. tom price, the congressman with
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georgia, health and human services. he will lead the effort to repeal and repair obamacare. charles: what about the first 100 days. what is a must for the first 100 days to keep the rally going and the animal spirits that have come to life. >> get it done now. and secondly, completely reverse, roll back these nutty environmental policies. and the third, tax reform. imagine what big significant lower, flatter rates, imagine what that would do for the economy. charles: getting to keep more of the money we earn. government, it's our money first. it's not your money. oliver. you are the stock market experts here. a lot of folks are saying we have $1.6 trillion in market value.
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we are approaching $24 trillion in evaluation. some are saying that ratio is out of whack. it has come too far too fast. >> i don't it's way out of whack. but it comes down to earnings. if you see strong quarter earnings if a few weeks, it's justified. fiscal policies will increase wages and therefore spending. i don't think it's crazy valuatio. the concern to put a damper on expectations, so far you have had 72 companies in the s & p 500 give negative guidance. charles: for the current quarter or next year. >> for 4th quarter earnings. you want to be a little careful there. having said that, i think the
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trump spol is you are suggesting will be strong to combat that. the real big question is, what happens -- not in the first 100 days, but the first 100-220 days. when the political realities hit the trump administration what we find out whether negotiating in business which he's clearly good at, can amount to being a good politician and diplomat. charles: we know obviously things take a certain amount of time to get done in congress, no matter who you are. but given the pieces put in place from the cabinet to the composition of congress, do you think investors will say the repositioning of obamacare doesn't happen overnight, but it's going to happen. we know the taxes are going to happen. we know they will be pushed out of the way. >> i think that he's definitely
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going to get the benefit of the doubt, charles. you will see this rally likely continue until there are clear signs that he's not going to perhaps pass some of these things. i don't think earnings matter at this point. i think there is a bigger story here. this will be a sea change. you are talking about tax cuts and far bigger fiscal stimulation. you are talking about potentially loosening up the lending. these are big chains on the economy you are going to release. if he can pull it off. as long as there is credible focus on making that policy happen, you will see the market continue. >> we saw this with the home builder sent i am number. buyer traffic. the first expansion of buyer traffic since jump of 2005. the construction regulations in the last five years added 30% more to the cost of the home.
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construction permits before obama took 40 days, now 81 days. enforcement took 120 days, now 420 days. when you start to roll that back -- >> on the lending piece, people are rushing to buy right now because they are concerned the fed is going to raise rates. but can we build homes for them and create construction jobs? dodd frank has to be rejiggered. >> more government spending is not the way to keep this market rolling. government has been a big problem holding down the market. getting these energy policies back. >> it has to be about private capital. let's understand the difference
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between rescinding executive orders which donald trump can do fairly quickly in most cases. i don't think it will be a quick fix. charles: do what he can do immediately out of the gate, then work toward the last-minute energy things. it's absolutely nuts. >> republicans with 51 votes can get rid of obamacare. charles: isis takes credit for that deadly truck attack in berlin. we'll ask a former cia member, and we'll talk about how the u.s. and its allies can fight back. how do we protect americans here at home?
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charles: isis officially claiming responsibility for the berlin truck attack that killed 9 people and injured dozens more. the man who drove the truck into the berlin crowd may be at large. dan, a christmas market, again, the modus operandi, using a truck as a weapon. we say the in nice, we saw a car used at ohio state university. how do americans stay safe in this new environment? >> it's tough and there are no easy answers to this. but there is a small positive to take from these terrorist groups
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refocusing from more spectacular-type attacks from 9/11 and using kalashnikov rifles. with a couple of changes to the architecture of cities, it's not that difficult to make these attacks hard to pull off. look at manhattan where the offices are located there. simple reinforcement around street corners makes these attacks difficult to pull off in a traffic-dense environment. charles: i have seen them at malls near me. i saw giants concrete slabs that were obviously there, the big ones just out there ultimately they will make them aesthetically pleasing. in strausin strasbourg, france,d
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to put up a tree with just a few decorations in case they have to turn that area into a field hospital. transit stopped and all this shut down. could come to that in america? will we have to go to those great lengths at some point to stay safe? >> hopefully not. you have got to stay busy living. you don't want it to destroy the fabric of your life. you want to stay alert and be aware of your environment. to dan's point when he talked about the concrete. the perimeter security is around manhattan and other federal buildings around the country, this is not new. look at the first world trade center bombing back in 1993. you look at the islamists have been using this mechanism in various fashions for decades.
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it's not something new that we are facing in a sense. and we know how to deal with this from a physical security perspective. the problem is as always, identifying the potential individual prior to the attack. that's the heavy lift this equation is how do we solve that? charles: donald trump was elected on a platform of addressing this. and initially some fellow republicans. how far does donald trump have to go or should he go and also knowing perhaps no matter what, the american public at this stage are saying, hey, let's do it. >> mike just nailed it. we have to get out of this reactive approach. we have to start becoming arsonists. we have to start starting fires and not put them out afterwards.
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we can put up all the fancy flower pot ballasts. but if we let our agents break up these cells and stop some of them in advance. but these guys -- literally the cops are hands cuffs. the l.a.p.d. are not even allowed to surveil people in mosques where they are generally open to the public. no matter we have these kinds of attacks. charles: we know it will always linger to a certain degree. this is a battle that goes back to the death of mohammad.
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are we perhaps going to have a point towards a more peaceful at least america? >> the unsatisfying answer is this won't ends in our lifetimes. we can't kill our way out of it, but we should be making a good faith effort in that regard in concert with other things. do we need to work close were the community to gain trust and get that call that says my son or daughter or cough season is going in the wrong direction. charles: thank you both very much. the deadly truck attack in berlin could prove costly for angela merkel in her reelection efforts.
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charles: german chancellor angela merkel said sit would be particularly disgusting if the perpetrator of the deadly berlin market attack were a refugee. merkel's approval rating has plummeted as the number of' migrants has soared. joining me is tammy bruce, michael duffy within christopher bedford. i saw one headline coming out of germany with respect to angela merkel that she was somehow upset, frustrated fan confused about this possibly being a migrant. it's interesting she is getting this message so late, particularly with what's going on around the world, the united states, and the west. >> we have seen it act planet with the global elites and the leadership not understanding the
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jownld ground swell of anger. we are seeing people say this is unfortunate for our immigration plans. her party came in third in a place that is normally her stronghold. she is coming up on her 12th year in power. i think she'll be in a lot of trouble when the voters come out and decide if they like her open-door german policy. >> today the euro was down a lot. if angela merkel is voted out. between her and barack obama, they were the two pillars of the leftist open arms government kinds of thinking. she is gone, perhaps the european union, sewer ozone, all
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that sort of stuff goes out the window. >> they whether -- they were the antithesis of reagan and thatcher. the problems with the open borders where you can travel from one country to the other. when she opened up germany, it opened the floodgates for every other country. the europeans are not liking what's happening with the european union. but for the chancellor, she has got an issue because you have got individuals, not just as we saw here in america where people aren't going to care with politicians say to them. narrative and spin isn't going to matter. people are deciding now. don't speak up so much. they will finds out they reject her.
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the issue becomes for germany, who did they choose. do they shoes what they consider the far right? i think they will go on a complete break and complete reformation. >> what are the ramifications for america. we know we had a big change november 8, what rejection of this sort of thinking. but it feels like this is the beginning. >> i think it will cause us to look at what we are doing the refugees. it's not just who we let in. but what do we do with them once they are here. assimilation programs that are promised are not happening. clearly people are having trouble asimulating in the culture. i was in jordan last year and i spoke with people working with refugees. they are saying why are they sending them germany and the united states.
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make a safe zone here. this is far less of a cultural shock to people. then when things are resolved they can return to their homeland. this is craziness. charles: i spoke to senator ron johnson, he just came back from israel. he said the same thing. the folks in the middle east who are guys placed, the authentic refugees say they don't have a great desire to come to america. the ones who aren't looking to commit a problem want to stay as close to home as possible. >> ideology and the divisions of these global elites have gone over the heads of what people really want. >> that's the problem here. you are looking at short-term political dynamics and yet when mr. obama is gone, when mrs. merkel is gone, the
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long-term impacts will destroy potentially the fabric of the culture itself. >> misleading media reports making the chaos surrounding this berlin attack even more dangerous. as soon as i left the hospital after a dvt blood clot, i sure had a lot to think about. what about the people i care about? ...including this little girl. and what if this happened again? i was given warfarin in the hospital, but wondered, was th the best treatment for me? so i asked my doctor. and he recommended eliquis. eliquis treats dvt and pe blood clots and reduces the risk of them happening again. yes, eliquis treats dvt and pe blood clots. eliquis also had significantly less major bleeding than the standard treatment. both made me turn around my thinking. don't stop eliquis unless your doctor tells you to. eliquis can cause serious and in rare cases fatal bleeding.
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charles: a traditional nativity scene was banned from a town in belgium because officials thought it was too provocati for the four muslim immigrants. isis proclaimed what the media refused to believe or report, that berlin truck attack, isis was behind it. eric, let me start with you with the nativity scene. you have four muslims in the town saying this may bruise their feeling. can you believe that from a christian nation? >> i think they are beyond christianity at this point. i think a majority of people there consider themselves atheists and the churches are shuttering. they are worried about the sliced necks if somebody does
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get offended in the muslim community. charles: adriana, as soon as attacks happened, the headlines started coming out. i found, i wouldn't say humor, but it was interesting, the berlin attacks, an asylum seeker from pakistan, of course a refugee is from a war-torn country. as far as i understand pakistan is not at war with anyone. there was someone driving a truck who deliberately killed 12 people. the sanitizing of this by the mainstream media and rejection that this could be another terrorist attack boggles the mind. >> it's flat out dangerous. what they should be warning people of the dangers of it. regardless of the fact that we don't know who was responsible
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for the cash and that took place -- for the carnage. we know they inflicted terror at this market that killed 12 people and injured at least 50, and isis claimed responsibility. so we now it's terrorism. so the fact they want to white wash it is ridiculous and it puts the public at risk. >> it's one thing to sanitize this, but at cnn there was an opinion piece that pointed the finger at the right. this is how it ended. the a general today will strengthen and embolden our enemies. the thinking is donald trump should go at this stuff with moderation and not threaten our democracy with a strong arm or strong fist against the isis terrorists. >> the good news is he's not
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listening. he said this is isis and an attack on western civilization and christianity. they can white wash it and pretend it's anything else. the "new york times" called an episode versus a terrorist attack. it is a terrorist attack. they are after western civilization and the europeans can put their heads in the sand. butle wolf is inside the country. they let the terrorists in with their poor vetting of refugees and they can't pretend it's not happening. charles: i talked earlier in the show about strasberg where they have to take their tree down and turn it into a field hospital. you wonder if it's a cautionary tale for america. >> the left-wing minis, they are
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emboldening the right. people are gladly willing to trade liberty for security. they want to go with someone who keep them safe. more people die and with blame the alt-right and they blame populists. more people die and they blame conservatives. they never blame radical islam. and as a result they are turning to people who are willing to point out it's radical islam. charles: last word to you, adriana. >> eric is right. in isis' magazine in november they called for soldiers of the caliphate to target crowded places, political rallies, anywhere where infidels congregate and to kill them. it's incredible people in media would ignore those facts and downplay the threats we are all facing.
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isis is targeting -- they are engage in a religious war and targeting christians and that's why we saw the christmas market get attacked this week. also there was a 12-year-old boy who trie market in germany a few weeks ago. so this has happened twice inia the span of one month. charles: they know exactly what they are doing, and i hope the mainstream media in america wakes up soon were rather than later. the dow woke up flirting with that 20,000. what is it going to take to get it there. a feel-good story for you. notre dame's star matt burrell got an early christmas present. his brother came home from afghanistan early to surprise his brother. >> merry christmas.
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congrats on the win, and go irish!
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charles: isis claiming responsibility for the berlin terror truck attack. and the attacker remains on the run. we'll ask representative darrell issa how dangerous the situation is there and here.
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>> close but no cigar. don't fret. wait a little longer for that historic milestone of dow 20,000. we saw a muscular move in the market. financials led the way up more than 1%. consumer discretionary up 1%.
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key names concluded goldman action which you know, the most influential in the index. had a huge move today under scoring a potential second win for those critical sectors that represent the rebuilding of america. a couple weeks ago i mentioned the big year over year move in wyoming, picking individual names is probably too risky for most investors. discount variety stores got gift. rite aid was forced to sell some of its acquisitions.
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so you have freds getting a new lease on life. being able to buy all those stores for less than a million dollars. the stock almost doubled. it might have revealed what to avoid. almost all this session every single dow component was higher. but by 9 close quite a few of them slipped into the red. consumer stipulate manies and proctor and gamble. after the closing bell, fedex missed on its earnings. the stock is lower but i wouldn't fret if i owned it. my kyle is one to look at. that stock looks much higher and a conference calm going really well. i think the consumer will play
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an integral role in the come numbers revival. before the open, car max beat the street. i think you can still chase nike and car max as long as they don't blow the conference call. i like mcdermott international. they trade a niewj volume on the cusp of a big technical breakout. tearer on the streets of germany. an assassination in curry. congressman darrell is a will join us next.
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charles: isis declaring the were slip truck attacker targeted --
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was a crusader targeting christians. joining me to discuss, congressman darrell issa. thanks for taking the time out. yet another horrific attack on just days before christmas. you are initial assessment of what's happening there, and i had security experts tell me maybe there is some silver lining in the sense they are no longer using bombs and mashine guns but they are down to using cars trying to militarize vehicles. >> i think that those who would like to consider what looked to be unplanned or poorly planned or short-term planning of sloan wolf attacks are missing the point. this is a change. this an isis change recognizing a lack of commands and control isn't a problem. they embody people to go do things and they do them. whether you are shooting an
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ambassador in the back or driving a truck, in the last 8 years we have not gone to the source of this ideologically or militarily. that's what will have to change. we won't stop these seemingly random attacks. because of their nature they are hard to stop. so we have to cut some of, if you will, the water flow at its force. charles: you brought up the ideology and the military aspect. many are saying you would -- the military aspect would be easier. but are you referring to maybe going to raqqa and other places and eradicating the head of the organization, if you will? >> i do think we have to take the fight where there are large concentrations and use appropriate military force. i think that's where secretary mattis will be critical of
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having a plan for the right amount of troops in the right place at the right time and stablizing that so it can be taken control by appropriate indigenous people. it will be part of his command, take and hold and repair. we learned lessons in iraq that you have to turn over a city it belongs to and get their buy-in. so i don't think you will see general mattis look at large forces to take the fight. but he will be looking at appropriate forces and finding diplomatic support to stabilize syria and iraq. iraq being one we'll have to push hard against the existing government, syria, one in which we'll have to change the fundamentals much a government because for most of my life, syria has had an all white
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minority that controlled over a sunni majority and that causes both sides to be dysfunctional when it comes to take the control of power. we hainltds over to the sunni we'll ends up with a minority, christians and aloites who are like shiia. if we don't change the minority government's way of doing business, the huge exodus of syrians will continue. charles: how is that different than nation building which i think everyone agrees it's a failed policy approach. >> just because you have fail at nation building don't mean the world would be better without nations. i led the first congressional delegation to meet with bashar al-assad in 2001. there was a promise of reform, it didn't happen. there was engagement, it didn't work.
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is bashar al-assad the right person to reform his government? it's doubtful. but finding a way to have, if you will, a lebanese-style sharing of power in governments like iraq and syria has to be parts of what we facilitate. if we allow a minority to dominate over a majority, that won't work. we allow a majority to negate any rights to the minority. the one man, one vote and only one time, that doesn't work. if you look at president el-sisi in egypt you see you the beginning of and reaching out for both majority and minority to make a government work. charles: we have less than a minute and i would like you to switch gears. the dow is on the cusp of a major record, 20,000. years ago you and your wife took
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your life's savings, you sold your minnesota cycle and bonn borrowed money. you are the poster boy from the american dream. you pulled yourself you have by the boot straps. is that environment coming back for you to the point where americans believe if they start to take the same chances you took because they believe the american crimes attainable again? >> that's the best leading question i have ever had. the fact that the dow has gained more since the election of donald trump than it gained in the previous 11 months tells us we are seeing a sign and a hope. but when you come to the small businesses, the reforms necessary to reinvigorate small business, the things i got to start, that will be about the hard work of deregulating where it's been overly regulated. reforming the tax policy and that will be one of the challenges. we can't just be a government
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good for big companies that will overcome bureaucracy. we have to respect the small business, able to start on a shoe string. i see hope for that but we have a ways to go still. charles: you are one of my political and economic heroes. president obama sets a one-day record. we are not sure it's anything to brag about. it involves the big house. we'll be right back.
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charles: associated press reports this mexican federal police say 9 people killed, 70s injured in a fireworks explosion, that is a market outside of mexico city amazing scene, we'll keep you posted. charles: president obama shattering his own record this
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week. granting clemency to 231 federal inmates, and he says he will do more before he leaves. he talks about prison reform, without details. what do you make of this -- he is letting a lot of people go. >> he is, i believe the report started number of clemencies exceed the last 11 presidents put together, not jus pardons, after someone served their time, it is letting people out who are still serving time, a lot of these people have life sentences, convicted on gun possession, and a lot have serious criminal histories. charles: what is his political statement? >> i guess, he is unable to actually accomplishing change
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legislatively, so he will do it through. >> without much of a legacy. charles: recidivism rate is high, we wish them well, i guess. what is message, from a law enforcement perspective? >> you know, there is nothing wrong with having a bold national conversation about criminal justice reform. the problem i have with this, problem i had with radical far left for a long time, they have a difficulty comprehending this there are people in this world who are evil. whether it is street criminal or terrorist, they view them as victims of some kind of society malfunction, unstead of bad people. this is a little bit excessive. and it is problem that we had debating with li liberal,
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they just don't believe in individual responsibility. that is why you see this, i bet you see more before he leaves office. charles: i think so. i think one big mistake that president obama made was relitigating, and refighting battles that have been fought, they have been over for last 50 years, particularly with so-called social justice. i believe this is an extension of that fight, it is instead of making a better world he goes backward and trying to redress the wrongs of yesteryear, in his mind. >> there is a case to be made that laws have chang changed. there are some people in prison under laws and penalties that do not exist now, but they exist not to punish people but to protect people, there are people who are actively hurt by these drug dealers, most are poor in the communities, they are moving back into.
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if you are serious about helping people then you have to keep that in mind. i think that is going to one of big differences with trump, just as he is america first, he will be protecting law-abiding citizens first then within that fairness for criminals who have been infairly treated. charles: i don't know why we put those folks away for life, and maybe that 18-year-old kid who sold $10 worth of weed can find a program where he is not sphache stamped for life. >> you are right, this is common sense, but it is not common in politics. i live through broken window days, i was a young police officer in mid 90s, niept nypd, they did that, if you are caught with a gun, you are going to jail, no way out, do
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you know what happened, people stopped carrying guns, in the street and crime rate went down. charles: thank you very much. fantastic. speaking of fantastic, the man, lou dobbs, keep it here on fox business. lou: good evening. breaking news, out of germany. islamic state has claimed responsibility for the terrorist attack that killed 12 people at an outdoor christmas market yesterday. senior police officials admit they arrested the wrong man in their investigation. initially a 23-year-old pakistani refugee had been suspected of ramming a 40-ton truck throughout a market in heart of berlin, but german authorities do not have evidence against him, that assailant and possible


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