tv Making Money With Charles Payne FOX Business March 10, 2017 6:00pm-7:01pm EST
28,000 manufacturing jobs. unemployment dropped down to 4.7%. thank you for having us in your homes. that does it for us. "making money" with charles payne is next. charles: the trump administration throwing down the gauntlet. good evening, i'm charles payne. jeff sessions asked the remaining 46 obama-appointed u.s. attorneys to tender their resignations. what are the implications and what's going to happen next? we'll talk with michael wild, rich lowry and gina louden. there are 93u.s. attorneys general. 46 were appointed by barack obama. dianne feinstein is calling it abrupt.
>> thanks for having me. i'm in the miami office. this is no doubt a circumstance that happens every time there is a changing of the guard. you want to be delegate only major terrorism and corruption trials. so we are moving the u.s. attorney from new york may be a sigh of relief for the mayor of new york and the governor new york and people under investigation. but to the victor goes the spoils. they should have lawyers who advocate the president's policies. fit would be unorthodox to have a federal prosecutor house not walking in sync with the president of the united states. that's the prerogative of the president placing lawyers around the nation. charles: i'm sure this move will be cheered in conservative circles. >> it's one of the best pieces of news i have had this week.
but here is the sad part that's not so happy. it is to me a disappointment that obama administration has politicized these bureaucracies to such a degree that these things are even necessary. some of these people are in the middle of cases they have been investigating for years. it would be nice if there could. the politicization used to be paramount in the minds of the american people as they continue to decide who they are going to vote for. it's not good for america overall that president trump has to do these things. charles: there have been calls for an investigation for whatever is going on with donald trump. all 46 were asked, and again, some people are saying, this probably should have happened sooner, but it's a logical move.
>> he's the one i would be tempted to keep. i think he's done a tremendous job of cleaning up the cesspool that is new york politics. but this is fully within the administration's rights to do. on the principle that the democrats overreact to everything, this will be portrayed as friday night massacre. but this is what happens. you clean out the old guard and bring in the new guard as a consequence of an election. charles: there is a lot of anxiety particularly when it comes to the intelligence community. this is also probably a welcome move with respect to be restarting that relationship. i think the american public is leery right now. >> president trump when they did this. he aloud all of president bush's
nominees to stay until replacements were confirmed. but i think wait points to is this distrust of the obama appointees and all the people left over from the administration. the democrats push back and everything donald trump tries to do. so if you are not going to play fair and square with us, you all need to resign. that's part of come batting that anxiety that there might be pushback. >> i had the privilege of serving as a federal prosecutor in brook flynn the eastern district of new york. and there are presidential appointments where this happens all the time. there are acting u.s. attorneys. there is a bifurcation for the business of the government, the prosecution of bad guys, the removal worse guys can continue. the president should have in
place the people he needs. whether you won or lost by a certain majority of the nation, the president needs his tools to do what he considers to be in the best interests of law enforcement. the trump administration marking its first 50 days. >> in just these first 50 days the president has taken many key steps delivering on his promises to the american people. complete added 235,000 new jobs and the employment rate ticked down to 5.2%. >> the office of president of the united states. >> it was the atlantaest audience to witness an
inauguration, period. >> he's protecting the nation from foreign terrorist nations. >> can you give us a question. >> i'm not going to give you a question. you are fake news. charles: it's been an eventful first 50. gina louden how would you grade president trump on the first 50 days. >> i would give him an "a." his focus on the economy and job growth and unemployment going down. companies saying they are relocating here because of the things he's doing. that's what america needed to get our spirits back up. if he continues in this pattern we'll see his popularity rise no matter what the media does.
charles: the polls are starting to chip away, you are seeing blacks, hispanics, women. maybe the jobs reports there is a prone for that. >> obviously a lot of people feel, i want more people than the media would have you think do want to give donald trump a chance and his administration a chance. you always focus on the labor participation rate. that is going up. wages went up. that momentum is what will keep the stock market rally going and people feeling confident. he signed a lot of executive orders in the first 50 days. now he has to work with congress on the obamacare repeal. charles: the whole idea about getting so many things done in the first 100 days. i think he has tremendous momentum.
and that should be more important than an artificial timeline. >> the first immigration order was obviously rushed. the management has been chaotic and the management agenda is -- the legislative ageneral is incomplete. the gorsuch nomination was a home run. and he tightened up on immigration so that illegal border crossing are chief cleaning. people have gotten the message. you come here there is a much better chance you will get deported so don't come here in the first place. all of that is good. but obamacare and tax reform will have an enormous effect on how we view the first year. charles: temperament president trump doesn't rank high, but accomplishment he ranks real high. the american public will have to
get used to the president as someone who doesn't change his mind. >> a lot of people may not personally like the ceo of their company. but if it's a strong leader taking the company in the right direction they tend the like him. his leadership style treats americans like adults. he's focusing on the highest level of self-actualization rather than pandering to americans like they can't handle their own lives and they need government to do basic things for them. charles: the companies saying they will bring jobs here. samsung moving an operation from mexico to america. the rest of the world is getting the message as well and they are trying to get on the president's good side. >> no matter how much they
talked about donald trump and pooed-pooed him before the election, they are trying to get on his good side. they knew what they were getting donald trump. people want to see results. the poll numbers will go up when they see the results of his policies. the sooner he can get on repeal and replace, and tax reform is so key. charles: i think they happen. i think it will be a matter of when they happen. sometimes maybe you put too much pressure on yourself. thank you very much. we'll have more on the first 50 days next along with other major newsoday. we'll be right back.
charles: president trump's action-packed first 50 days does not stop there. here is part of the administration's newsworthy moments. >> i'm here tonight to deliver a message of unity and strength. >> therefore i have recused myself in the matter that deal with the strum campaign. >> is it possible that that previous administration was listening to the conversations that took place in trump tower? >> i'm proud to support the replacement plan released by the house of representatives. charles: adam, we have $3 trillion added to the stock market. we have got consumer confidence and business confidence brimming to levels not seen in decades.
it has been a positively eventful first 50 days. >> the 50 days feel like 50 years to some, and for others like we are just warming up. the good news is we have a leader, a president who actually is doing what he said he was going to do. i'm going to take on washington, shake up the system and get it done. darn if he isn't doing that in a big way. the thing about change as we all know. it makes people nervous if you change from something that becomes habit. even if that habit is not good. the rights of premiums and a foreign policy where it seems like we lost our way. but change that works tree knews the faith. i think donald trump has before him an opportunities to do just that. charles: kevin? >> if you didn't like to donald
trump on the campaign trail you wouldn't like him as president. the substance is where we'll see what donald trump will be like. in the first 50 days he's been very conservative. he has appealed to the conservative base. the healthcare law will be an interesting scenario to see if he's going with the moderate leadership of the republican party. so i think is he going to try to bring conservatives along and bring them more to the middle or will he continue down the path. 50 days necessity's gone conservative. the next little bit will he try to come back towards the middle and unify or more moderate. that's what will be interesting to see. does he continue to keep support of the conservative base if he ends you have staying true to this ryan plan? charles: we know president trump
is redefining the republican party. he's not a purist. so we know there will be some changes, and i think what we are seeing is the pizza, the bowling, the meetings. when you have get in the white house the president is very cordial. he's a great listener, and no one has walked away from there angry. >> the wonderfully watched program "house of cards" where they will turn to the camera and gift audience a heads up about what's going to happen. none of that is happening in washington because there is no script from the past that's governing what's happening in the now. i think it's refreshing. people are going to the white house. they are meeting with the president. they are finding he's open and engaging. and he's looking as a ceo would for remedies and answered not based on rhetoric, but based on
real results. i think that's something washington isn't used to. and i think people will warm up to. as far as the poll numbers are concerned. poll numbers are not consequential until the president has a chance to get in the batter's box and start to swing. >> kevin, the joint address to congress, $40 million people watched it. it felt like the high points of trump's presidency. it proved to a vote of doubters that i is quote unquote presidential. but since then we have seen him return to twitter. is there some kinds of happy medium that president trump may have to find with regard to reaching out to the rest of america beyond the republican base?
>> we can talk about his style or approach. but ultimately he has to continue to do what he has done as far as taking his message directly to the american people. you can love him or hate him. he won't get a fair shake from most of the media. he has to communicate his message. he's finds new ways to do that. the joint session is one of those ways. i think we should look for more of that the next few months. charles: will animal spirits be enough to keep the trump market rally going if republicans cannot get a tax cut this year? we'll be right back. ( ♪ ) i moved upstate because i was interested in building a career. i came to ibm to manage global clients and big data. but i found so much more. ( ♪ ) it's really a melting pot of activities and people.
this year. we are prepared not to go on recess. but we can work on it in the fall. we need to get it done this calendar year. charles: white house officials continue to promise they can handle the tax cuts and tax reform. but can american business and the stock market wait that long? the russell 2000 really took a good hit this week as all the focus went to obama care now six sessions in a row. joining me to discuss. tim, let me start with you. americans for possible far it, you guys are in an onerous mood these days. you are not happy with the way obamacare is going thus far.
now mitch mcconnell says this may make tax reform impossible by august. >> we hope that's not the case. there is relatively broad agreement of on tax reform among the house and senate. lowering the repatriation tax rates and lowering and flattening individual tax rates. so there is relatively broad agreement there. the border adjustment tax which the house seems to be pushing the hardest is a disaster. that could hurt and potentially derail tax reform. but there is broad agreement on threat areas i mentioned, and i hope they move quickly on those areas. charles: no matter what may happen, i guess the bigger fear is if it doesn't happen in 2017, and we have to wait until next
year for tax reform, what it means for the economy and what it means for the stock market. >> there hasn't been a change in the corporate tax rate from 2003 to 2012. we had the statutory corporate tax rate in the g20, and this ignites the other reforms that president trump was trying to execute, and this is what he talked about in the campaign. charles: so they try to do this first. everyone agreed. who will not want lowetas for individuals and corporations. we know that's a great spark. once you get that spark it gives more political capital. do you think that should have come first? >> i'm not sure if it should have come first. i think the president moves at a businesserring pace.
the reality is kevin brady, the house committee chairman. there is broad consensus. we have to get behind it and understand tax reform is going to ignite the other reforms that president trump ran on as candidate trump and i'm looking forward to see what the house and senate comes up with. charles: are you prepared to take the pushback if ryan care doesn't make it through for obamacare? >> it's not a good piece of legislation. the tax credits are really subsidies. the medicaid fix is good. rollback of the mandates on the insurance side are good. there are some good things in that bill. we would love to get there where we support it. let's get rid of these tax credits. the trump administration has been calling for moving quickly
on tax reform. we think they are right about it. charles: let's remember there is a lot of $600 billion and obamacare taxes that would be a heck of a relief. coming up, state attorney generals are revving up to fight the new version of president trump's travel moratorium. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price.vest wh confidenc. as after a dvt blood clot,ital 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? : and he recommended eliquis. eliquis treats dvt and pe blood clots
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. charles: well, the battle lines over president trump's revised immigration order are drawn. tonight as now six states have jumped on a lawsuit, trying to ban the travel moratorium, the attorney generals from all of the states are democrats, and hawaii filing its own separate lawsuit. of course, donald trump's order will be challenged in two back to back court hearings. next wednesday, one brought by maryland, the other hawaii. joining me rich lowry, herb laughlin, very inflammatory language, particularly from the hawaiian attorney bringing up racial superiority, going back to things that donald trump may have said, not as a candidate but as citizen trump a long time ago, is that fair game? >> distinctly inappropriate. what you have is a move on the part of the left in the attorneys general who represent the left-wing orientation who are doing everything they can
to demonize the trump administration. this lawsuit is not going to go very far, by and large the president of the united states has the overarching responsibility. charles: we did hear that with the previous legal challenge. >> that's right. what the administration did was to offset that, obvious changes, like iraq being taken off the designated list. what you have is an attempt on the part of attorneys general to do what many are doing on the left in the united states is to undermi this president. i don't think it can go very far and as i've suggested, if the president is intent on providing financial security, he has the responsibility for looking at the documentation that comes from war-torn nations. charles: speaking of which, danielle, the idea this is a quote, unquote muslim ban when it doesn't cover indonesia, india, places with significantly large muslim populations and really does, seems pretty obvious to me, what do they have in common?
broken down governments where it's hard to vet anyone. >> you are absolutely right, and i think this travel ban is much more narrowly tailored from a legal perspective. the challenges have much less chance. charles: you're a progressive. >> yes, i am. charles: some are saying it's a muslim ban, about white racial superiority. >> right. charles: are those things way out of bounds? >> i think they are and i think what they're hanging their head on is the trump campaign promise of the muslim ban and what the administration has done with the second trump -- excuse me, with the second travel ban is to be careful about its language as it relates to christians and favoring christians, obviously taken out iraq, it's not worrying about legal residents or visas. it's a tough sell for any of the attorneys general. charles: michael, when it comes to immigration, you're one of the best in the world in this, what's the assessment of the new travel moratorium and the legal challenges to it? >> more of a visa ban than a
muslim ban in my opinion. could this have been eradicated and done and dusted had the secretary of state sent the cable to those embassies, the american embassies in those nations saying we're just going to check in the vetting system, but if you pull the lens back on the landscape here, charles, the truth is venezuela has a terrible vetting system in place and there's been moneys through terrorism that's been funneled through there and they weren't put on the list. this president should not be curtailed, but at the same time, he under the 1965 version of the immigration act is not allowed to discriminate based on national origin. charles: but can he scrutinize based on risk to americans? >> yes, he can, if it's a holistic risk. you had a program years ago by president bush who restricted all males from arab nations, that was more palpable because it went across the bar. when you exclude chinese in the
1800's. inter japanese in the 40s, you are bringing back national origin discriminate those feelings. i don't believe truthfully that the president is a bigot or has any prejudice at all in the system. i believe he is genuinely inclined. the problem is we have a visa system in place. if the visas were not vetted properly, why now is he allowing all of this to go on. charle we've got a new the . let me bringich into the conversation. it's a new president with new ideas, that's what people are saying in this country, maybe michael is right should. have done this a long time ago, doesn't mean we should not do it now. >> black and white provision of the immigration law the president has the authority. in the 1965 language was not meant to overturn that provision, so i think the initial executive order was clearly legal and constitutional. if the 9th circuit can block that one, it can block this one as well, it's unprecedented to
go to a president's statement as a candidate and use that to undermine his legislation. plus the hawaiian challenge, it says the executive order is unconstitutional because it violates the hawaiian spirit. where in the constitution did it have to abide by the hawaiian spirit? where is that? charles: michael, real quick --. >> you want to send me on assignment, charles. [laughter] >> why didn't the trump administration already vet the visas? why isn't it they haven't used the last three weeks to do the veting? why is it we're running scared? why do we put a moratorium on take anything refugees. when we fought pirates in the 1700s, we continued to open our shores to people in jeopardy. charles: things have changed a lot. you see that around the world and see where the western nations had open arms, including america and pay something of a price for it.
there is a reset button. here's the good news, danielle mclaughlin went to new zealand, she was afraid they wouldn't let her back, but she's here. >> she's investigating the new zealand spirit. charles: the major averages were happy today with the jobs report. it was a huge report. the market struggling a little bit, don't fret. i'm going seyou up, some of you are getting nervous and you should be getting excited. we'll be right back. just like the people who own them, every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys can help you every step of the way so you can focus on what you do. we'll handle the legal stuff that comes up along the way.
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fatigue after opening really strong with that spark from the jobs report. the four week market winning streak snapped but i happen to like when the market does back uphill, particularly in orderly fashion. we've had more than 100 straight sessions without a decline of 1% for the s&p. it's been very orderly. no doubt everyone from novice to seasoned money managers are becoming somewhat anxious, and you would after this run-up. but those nerves should be quelled with evidence that underlying fundamentals are improving. the foundation of this economy justifies higher stock market and it all begins with main street enthusiasm. each survey since the election has shown greater confidence. but the best measure of this, unemployed folks hitting the bricks. the civilian labor force increased by 340,000, lifting the participation rate to 6.0.
it could indicate inflection point, and you know what? instead of hoping for things to happen by going to the voting booth, people are seeking out opportunities. the other key main street foundation comes from higher wages. in that score, 2.8% year-over-year wage growth, that is impressive and hints at faster wage increases particularly for skilled workers. i point this out as more and more people are expressing concern. i'm talking people who have made a ton of money in the market to those who are kicking in tires. speaking of dips. geostock was back this week but i think the operator of private prisons is a major buy. i see this stock going to 60 bucks before the year is over. geo is the stock symbol. i want to take the time for anonymous viewer for making me this shirt. unleashing your animal spirit. i'm going to wear it with pride.
a programming alert, you don't want to miss "wall street week" tonight. here's a sneak peek. special guest tony robbins. >> they all look at number one how do i make sure i don't lose market. having grade value asset allocation. 15 uncorrelated bets will reduce risk by 80% and risk to reward ratio goes up five times. if you are diversified, you are protected. then you look at asymmetrical score, how do i risk a dollar to make three, four or five? charles: that's tonight, 8:00 p.m. on the fox business network. coming up, business and politics mixing as well as oil and water. you have been interrupted on a skype interview? you know how this guy feels. take a look. >> for the scandal. >> what will it mean for the wider region. i think one of the children
walked in. shifting fans in the region will relations to the north change? >> i would be surprised if they do. pardon me. my apologies. shhhh h. my apologies. north korea -- south korea -- >> something like that happened to me before, i love it. we'll be right back. online u.s. equity trades... ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ this is one gorgeous truck. special edition. oh, did i say there's only one special edition? because, actually there's five. ooohh!! aaaahh!! uh! hooooly mackerel.
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starbucks pledge to hire more refugees resulting in a sale slump for the company so is advertising the anti-trump political platform bad for business? here to discuss jillian melchior and gina loudon. ivanka trump sales are through the roof. starbucks struggling. it's not good for workers or anyone else? >> a tough thing for businesses to manage. if you come out in favor of trump, like we saw with the under armour ceo, he was accused of white supremacy, being privileged in baltimore. on the flipside, ivanka trump is seeing it, starbucks is seeing it. that's the problem culturally we're seeing right now which is the politization of everything. you can't have a private life anymore, everything is a political statement and there are political consequences. charles: there are, gina.
we had bob iger on president trump's advisory council, people are ging him a hard me. why are you on it? it's so hard to a guy seated at the table. >> exactly. if i'm a shareholder in a company and the ceo is playing politics with my investment, i would be not so happy. i don't think participating in invitation like you're talk about of the president is playing politics. it's doing what's smart for the company. if we looked at patterns, the espns and the nordstrom and some of these who have very much gotten into a political hissing match with president trump. charles: what about when the trouble comes to you? the woman who started to grab your wallet.
she was very successful. neiman marcus got rid of the ivanka trump stuff. lo and behold, there are a couple rings. the black onyx ring with the diamonds, i like it a lot. >> pretty expensive. charles: goes nice with your dress. what happens when the trouble testimonies to you. >> difficult things businesses have to deal with. charles: for neiman to blink, the woman starts a campaign on twitter, they made a decision in part based on that. wasn't that a mistake on their part? >> it's a situation where you can't win. you've got uber going to the taxi picking up passengers when the new york city taxi driver is -- charles: this is saying, to me it's a little different, neiman is selling a product. customers want the product. someone screams and hollers and the person gets their way? >> they find themselves stuck in a boycott. we're seeing everything is political, being interpreted politically and the businesses
are facing a risk because of that. i don't think you can win. it's something that's destructive in american culture right now. >> i tell you what, gina -- >> some companies are. charles: they cut the neiman credit cards in half and posted some of the bills they paid. maybe that got their attention. >> completely rearranged my shopping habits, i can tell you that. i don't think this is so difficult for companies. a lot of companies are are winning by doing what's smart. if a product sells like ivanka trump's brand severy well, and nordstrom clmed the reason they removed her because she wasn't selling. there is no claim for that. they are feeling it, and i think that other ceos should take note. we're adults here. can we act like adults and can they just run their business so they are accountable to their stockholders? i believe it's remiss of the companies to do otherwise. >> i want to point out too, in
a lot of the cases the boycotts hurt people they're not supposed to. for example, with the uber boycott, a lot of the drivers are immigrants. people are doing this. they're making a political point. charles: hurting the people they say they are trying to help. gina, the gold ring wouldn't go bad with your dress, either. just saying. >> i like that, charles, i like that. charles: coming up, south korea engulfed in amazing political turmoil. their president is out. the neighbor to the north is losing his mind so what's going to happen? this is a military quagmire, it's getting worse. i've got a great panel that's going to help us out next. like centurylink's broadband network that gives 35,000 fans a cutting edge game experience. or the network that keeps a leading hotel chain's guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies.
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skeptic. that's right, a u.s. skeptic may take over south korea in favor of stronger relationships with china to influence north korean activity. here to discuss it all, captain chuck nash and gunny captain jessie jane duff. this is getting frightening and the political turmoil in south korea creating opening for belligerence, perhaps something that will push us to physical conflict? >> you know, japan is starting preemptive capability up. you're looking at the u.s. being challenged. they fired 26 missile tests just in 2016, all of course against international sanction and the chinese just cut off coal imports which is one of the major, if not the major export commodity north korea has for cash. they are bound and determined they're going to get intercontinental ballistic missiles and already have a nuclear weapons program. together, you are asking for a
preemptive strike. begging for . charles: jessie jane, the missile launches that came close enough to japan. there aren't red flags, there have to be at this particular time. we've taken action with the thad missiles, should we do more? do you think we'll do more? >> president trump suggested he's going to send b-52 bombers to the area. he also has an aircraft carrier in the south china sea ready to deploy. we're also looking at sending the thad missile defense system over there to ensure they're able to shoot down any of the strikes. four of the missiles were fired from north korea last week alone and landing in the south china sea. this essentially is kim waving his finger at donald trump, president trump, stating i'm not afraid of you nor am i afraid of north korea. charles: nikki haley said what
we all kind of know. this is a very unpredictable person. i don't know that you can do military gamesmanship to understand the next move when you deal with someone this unpredictable and perhaps with his back seemingly against the wall. he may strike out. >> the chinese foreign minister said that you've got two countries that are headed for a head-on train wreck. he understands that kim jong-un is crazy, and he is crazy, because if he keeps pushing this, he has to know because this president has already said flat-out they will not get that intercontinental ballistic missile with nuclear weapons. he is begging to be struck. what he intends to do with that right after, i don't know. i don't think you can find anyone who would think for a minute that north korea could win a war against the united states, south korea and japan. isn't going to happen. charles: unless it's a third
generation nut case who has a skewed vision of the world. i want to ask about the budget. now there's a lot of talk about fiscal hawks versus doves and just how much money should be spent on the military and where it comes from? jessie jane, how much of a priority should this be? president trump promised to bring the military back to a force that can protect us. >> a lot of people don't understand with donald trump saying he's going to increase the military budget at the largest rate ever, they had suffered, the pentagon suffered $100 billion cut between 2011 and 2014, so 56 billion is moderate compared to what has already been cut. they need to reinstate this budget because right now, our aircraft, we only have 70% of the f/a-18's in the marines are incapable of flying in combat. only three of the 50 combat brigades in the united states army are ready to take on combat.
we can't take on an adversary such as china or russia. can we afford it? we can't afford not to do it. that's what a lot of people on the left don't understand. charles: thank you so much for your service and expertise tonight. thank you. >> thank you, charles. charles: lou dobbs is the best and he's next. keep it right here on fox business. lou: the trump administration begins purging the left-wing leftovers of the obama administration, and, of course, the deep state as well. white house press secretary sean spicer today acknowledged the trump administration is under attack by an orchestrated efhis policies. >> well, i think there's no question when have you eight years of one party in office that there are people who continue to espouse the agenda of the previous administration. lou: we'll be talking what needs to be done to quell sedition with the authors of the bookha