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tv   Making Money With Charles Payne  FOX Business  June 30, 2017 6:00pm-7:01pm EDT

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alan greenspan. and tune in for another episode of "wall street week." thank you for having us in your homes. we want to wish you a happy 4th of july. charles payne is here with "making money." charles: stocks ended mostly higher. i'll show you my ideas and strategies. senate republicans heading home for the 4th of july recess without a new bill on healthcare, missing their ownself-imposed deadline. the call for a repeal underscoring the divide in this
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republican party as they head on out. katrina, golly. obviously we know the republican party is a party of ideas and a lot of different factions. this is something of a let-down, isn't it? >> yes. although you have many republicans who feel that this particular bill isn't the way to go, they made promises. and now it's time to deliver. charles: your organization got some of the blame. putting out the negative ad against one of the holdouts. do you feel responsible for making this thing worse, your organization? >> not at all. the on reason why we ran that ad is unlike the other senators opposed to the current bill in
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it form, he didn't have any alternatives and simply walked away from the table. this is the opportunity for senators who don't like this bill to work with leadership to make it better. charles: the entire party was able to rally against this. someone has to fall on their ideological sword here. the conventional wisdom is something will be done. there is no stopping the collapse of obamacare and next year you will have counties that don't have a single insurer to choose from. for the better part of a decade republicans have been saying we want to repeal and replace. we need to stop the individual mandate. i'm having these complaint fall on deaf ear, considering how on january 20 when president trump
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was sworn into office, there wasn't a single bill republicans had to put forward. here we are today in the reality we had, we didn't get here overnight and we won't get out of this overnight. charles: how much do you blame the leadership? >> both houses are owning this issue. in 2015 the house repealed obamacare and the senate repeals obamacare and sent it to president trump. there is no way the party will be able to go back to their districts without having done something about obamacare. katrina, i want to bring in the panel for additional insight. joining us now, tammy bruce and michael barns. it's complicated. we learned that in the house version. they were able to compromise. but you have senators in these
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state where they have taken on so much medicaid expansion, they are reluctant to give that up. >> big government dollars are yielding a great result. and we see there are two new polls that have come out that show that not just democrats but independent and trump's core base appreciate the patient protections of the affordable care act. and essential healthcare benefit and prescription drugs. charles: you are not suggesting obamacare is working, are you? >> what they need to do is compromise with the moderate red state democrats like joe manchin and stop trying to make it work with rand paul and ted cruz. there is nothing that is going to pass with them that will
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appeal to the moderate democrats. charles: michael might be on to something if you say you have got four hard-core conservatives on one side, five hard-core moderate on the other. maybe it will be easier to assuage these folks. tammy: this should have bent original plan. this notion of repealing and doing the replacement later. that's the better idea. we know it went to obama, and the problem with replacement is it turned into a christmas tree. you can get repeal done with just republicans. it will be 50, 51, but then you can have the democrats support a little bit of a christmas tree with the replacement. this is one of the arguments about how we can move this. but something has to happen here. let me say when it come to who you are going to appease.
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the american people elected donald trump because they didn't like being lied to by the democrats and republicans. the continues is that now i have lost my point. i have got three options for you. compromise, punt or surrender. that's where the republicans are tonight. compromise punt or surrender. >> i like the idea of doing a repeal first. this has been done and everybody but one senator voted for this and all but two or three members of the gop house. bring back the same bill and vote on it again. why do we have to have one giant bill. we have one bill to start hsa. another bill to let people have catastrophic coverage. another bill on opioid funding. democrats vote for opioid
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funding or support state lines and have a dozen different signings. you don't have to have one bill and try to get 50 or 51 votes behind that bill. charles: it's obviously easy to point to all the things wrong with obamacare. almost every single day there is a headline. the answer, though, the ultimate solution that your organization backed, what does that look like? >> we back the pro-america policies that come out of this congress or the white house. i agree with kenny bruce. one of the things moderate republicans don't realized is they did not win in november. donald trump won in november. and that's a very different scenario. the president did tweet that he was talking about the full repeal and put in a replace. over time.
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we didn't get here overnight and maybe we have to take this apart piece by piece. but at the end of the day republicans have to deliver on this one way or another. >> the republicans elected a negotiator. tammy: on the repeal bill, there will be some fear based here. the understand companies understand and anticipate this. in a way obamacare has been repealed because it doesn't exist. charles: it's crumbling. it will be a year to implement but you can have both votes the same day if you wanted to or it can be done over time as katrina and others mentioned. this is something that can be easily done. it won't destroy people's lives. people aren't going to be losing their insurance. this allows people to be able to
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choose whether they want to have insurance. >> to choose whether they have insurance. it means you choose when you get sick. and other people pay into it when you don't need it. so you have got a system that is fundamentally strong. insurance is at a point where the people who are continuing to participate are those who are sick and need it. i support repeal of the mandate. charles: it sounds like the answer, the free market being involved. the walmart of healthcare insurance, the amazon of healthcare insurance. policies that will match demand for younger people and expensive older folks. and that's been completely shut out of the equation. >> put it in health savings accounts.
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and why have state lines. why not have companies sell insurance coast to coast. why not have geico care. charles: we have to leave it there. i always tell people, 1954 the first colored tv came out it was $1,000, the same as a black cadillac. the free markets have to play a role in this. how about tax reform. you want to talk about something everyone can agree on? we'll debate it next. she's nationally recognized
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charles: republican senators missing today the self-imposed deadline on healthcare. middle income americans are paying too much in federal taxes, but can they get it done? maybe they should skip straight to that. now of course, hindsight is 2020. susan collins said maybe they should have done infrastructure first. there is a baseline advantage if you can get this healthcare thing right. but everyone when it comes to individual taxes are ready to go. >> we had talk from senators and members of the house that they didn't want to suspend the recess entirely. clearly the market responded well to the expectation that tax
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reform is on the horizon. i expect they will respond pen more strongly if they do get passed. paul ryan says there is $36 billion in wealth created just by doing that. a combination of regulations and tax reform is a must-do. charles: yesterday when the market was in free-fall, there was no net. each mnuchin started talking confidently about tax reform, getting it done before the august recess and we regained 130 points for the dow. wall street wants to see this. both sides of the aisle want to see this. if you can chew gum and chew, they can do them both done at the same time.
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>> it wasn't just healthcare that got pusheds past the 4th of july. it was the house dealing with the budget. it just shows us republicans aren't agreeing on much, whether it's healthcare or budget and possibly tax reform. you saw gary cohn say there is no agreement on tax. charles: for small businesses, right? >> republicans can't desired whether to be conservative fiscal hawks or compassionate conservatives if you want to say that. it will look a lot like health reform. it will be a giant mess. charles: they understand the clock is ticking and they realize they don't have much time to go.
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maybe it component that's missing in the sense of urgency that window is closing. >> fiscal year ends in september sow all the more reason why they should suspend the recess. ing this issue of tax reform. it's easier to sell tax reform and healthcare. the biggest problem for republicans, they can't even say what are the elements of the bill that will appeal to their base. tax reform, we are kufting your taxes to put more money in your pocket. >> you have some republicans who want to lower taxes on the middle class. border adjustment tax, they can't agrow on that. >> this idea they are going home for the break and they will face angry constituents. they wouldn't have that problem with tax reform. charles:
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shelby: you are yong, vince is right, bye-bye. you can't get tired of it. do you think the founding fathers would be proud of the state our country is in right now? my paynes passion is next. introducing new parodontax. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try new parodontax toothpaste. ♪
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(bell ringing) (audience cheering) charles: today i got a tweet that saddened me because it's a reflection of what's wrong with america today, the inability tore civil discourse and tribalism that's sue surps individual thought and rips this nation that is otherwise held together by the constitution. the tweet was cv fain speak down
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to your own skin and culture for a check. i was noting the delicious irony that she made a gaffe in front of a statue of will rogers. one of his famous quotes was i belong to no organized party, i'm a democrat. to those small niches of people who aren't satisfied embracing their own ideology. they want to harm non-believe. now what counts most is skin color, culture or gender. 16% said they would not be proud of where this country was today. 51% said we are proud. it underscores that we rally our echo groups and not a flag. here to help me discuss, gillian
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melchoir and gina louden. you get this kind of stuff on twitter all the time. everyone has gone into their own respective bubbles, but now the bubbles are at war with each other. >> we have seen this with the campus liberals. i was disappointed to see it in central park where conservatives were shutting down debate. i'm optimistic about the future of this country. we have a constitution that's unprecedented. it's holding up. it's stronger than any one person or party. charles: it's under a lot of stress trite now. >> they are because of the obstructionism of the democrats. also the idea in the minds of many democrats that our constitution is somehow pliable to whatever they would like to make it today.
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while people wanted to comment in that poll on the state of affairs generally where we are and how far we have gotten from freedom and free markets and constitutional authority, i think some people may have felt optimistic because we are returning to that. look at gorsuch, the president's appointment toot supreme court. the return of free market concepts and the rule of law illustrated by the president and his immigration law. you are so right about the tribalism and the division, and that's our real battle right now. charles: i guess you are referring to that. would you've quite a play that features the death of a sitting president with someone cracking a joke about a sitting congressperson? do you think those are equal in terms of one setting off one another?
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>> it's a sacred right to mock our politicians. charles: mock is not beheading. >> it's poor taste but it's protected speech. within the culture wars we are discussing, whether it's more important to have free speech or an inclusion that doesn't make people feel uncomfortable. but it's important to have these conversations. we can be divide and come together on the basic issues we discuss. charles: is that a good point that maybe we shouldn't have any guardrails with respect to freedom of expression? >> absolutely not. that's why you can't yell fire in a crowded building. it's not covered under free speech to incite violence. many democrat leaders and hollywood leaders, their
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advocacy for violence is a big problem in america. >> the supreme court has held that incitement is a narrow window. incitement if we are using that in a legal term, that's what that means. charles: you both wore almost the same dress. you both look phenomenal. the discussion is enlightening, i appreciate it. president trump sending federal agents to combat deadly violence in chicago. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that
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charles: as violence rages out of control in chicago president trump finally making good on the promise to send federal help tweeting this morning killings in chicago have reached such epidemic portions and sending in federal hill. 1714 shootings in chicago this year. 28 agents will be sent to chicago with help with the murder and violence epidemic there. i have been telling you this for a long time, four years in fact that they need help. joining me now to help discuss lawrence jones gina loudon is back. she had to get back in there.
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you are so fired up gina. let's start with you gianno because you are chicago native. you read the news headlines like the economist suggested that this is the beginning of an invasion of the federal government and marshall law and on the other side some conservatives thought there was something but it feels like atf is there in trying to find out where the guns are coming from. >> absolutely and i don't think that this is a invasion. i have to tell you my little brother has been impacted personally by the violence during memorial day weekend. was in the car with two of his friends when two young men walked up to the car and riddled the car with 25 bullets. that impacted me to the degree and thankfully he lived. his best friend died in his arms. >> wait, wait. that happened this past weekend? >> that happened memorial day weekend so that friend died in his arms. i set up a meeting with the trump administration went and
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talked to senior officials i told them that president trump must keep his commitment to the tweet which is chicago doesn't fix the carnage there's a multi- law enforcement as well as job-training and actual jobs. this has got to stop, charles. i completely and totally devastated by what i've seen and it doesn't just stop at the people committing the murder the mayor of chicago the chicago leadership does not care, charles. rahm emanuel could care less about the something to do with sanctuary cities and protecting illegal immigrants and he can continue to get reelected. black lives matter to rahm emanuel. i'm going to say that again black lives do not matter to rahm emanuel and i'm going to encourage every tourist by the sound of my voice don't spend another dollar in chicago until rahm emanuel starts taking his epidemic seriously. right now he doesn't care charles. charles: lawrence to focus on
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guns and where they are coming from and cutting them off is admirable but it doesn't pull the trigger itself. >> there's a deeper issue at hand here. i asked -- respect my brother gianno but i think it's deeper when it comes to economic prosperity when you talk about our poor education system and you talk about kids that live in single-parent homes that don't have father figures. just by tackling guns isn't going to solve the problem. you have to change the culture and that's what i'm afraid of but when you start with a gun strategy it makes it seem like it's just a gun problem in chicago. it's not a cultural problem. it's a poverty issue in chicago and that leads to violent behavior and right now you are just taking the tools they are using for violent behavior you are not attacking the problem. charles: the federal government i would think they would have a limited role in getting to the
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root of this. that's something the community will have to eventually figure out. >> that's been my argument. like i said i'm not from chicago but that's been my argument from the very beginning. you have to change chicago from inside the community. >> lawrence what about the people who are continuing to die? c i totally agree with you. we have got to do something. >> culturally i agree with you on that absolutely 100%. someone has to get the guns out of the hands of people but they will use a knife and they will use the gun whatever. c they will use whatever tools that they have. charles: the guns make it easier but that's not the root of the problem. gina. c the root of the problem is so evident. you take in a big city that has been run by decades for democrats and you can see democratic policies like waiving
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the guns fail every single time. name one mass shooting you can think of that ever occurred where there wasn't a resolve and yet the democrats continue with their policies to rail on the guns as the problem that started the cultural problems. they always want, they always want to blame the big. this is exactly why i come exactly why again freedom actually works in the places where people have the freedom. charles: we also need more legal gun owners. gianna i want to give you the last word in chicago a lot of blacks have moved out and middle-class blacks have bled like crazy and i don't know if they will be able to elect another harold washington per se so without any political leverage is a hopeless situation?
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>> i think this next election is pivotal. we absolutely have to get rahm emanuel out of office. there's no question about that. we have to get him out. he could care less about the black people that are dying in the streets on an hourly basis. he could care less so if folks want to do something in chicago let's start there. we will continue with the trump administration and what they are looking at doing, obviously jobs and that's obviously important it's a cultural thing that we must do something now. people are dying and this is a serious issue. charles: thank you very much in have a great 4th of july. gianna prayers to your family. sorry to hear about that. six months ago the question is this rally, this amazing rally. we started like a bottle rocket but started wobbling into the second half particularly tech. is this rotation or is it somewhere else you should put your money quickly have some of my favorite all-stars.
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charles: president trump declaring to south korean president that there must be it to determine response to north korea's nuclear ballistic missile. we will be right back.
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charles: the first half of the years in the books and stocks across-the-board all the major indices the doubt up in the nasdaq finished up 13% but the numbers are little bit misleading. the nasdaq did have the first best half of the year. in fact 14 years that it's been under a lot of pressure and here's the thing the lacquer to becoming take come to life. energy the only losing please have it good weekend by the way the good week became something of a great week today when north american rick was declined by
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two rigs it sounds like a small number by keep in mind 122% of bricks in the past year so any slowdown is welcome news. other sectors of technology, is this a pause? retail discretionary stocks look pretty good but the question is brick-and-mortar going to come back to life? they still face apply headwinds but materials and industrial that are gray. my two sectors. here to help managers and their questions and get us ready for the second half of the year you might remember these guys. the gang is back. let's talk about the first half and a full momentum or lack of momentum. overall the market are you concerned because it's been a little shaky. it's been spotty. >> i do have my concern. i'm pleased with how the markets perform the first half of the
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year. given all the uncertainty and all the headlines have to tell you i think we are finishing the first half of the year in a very decent manner and i think it's an upturn. i would have thought there would be more volatility. have to tell you -- charles: this morning we had two things. we have the personal income spending, income went up and spending went down to your spending of 5.5% and that's the highest level in a long time. it's a great thing but look at sentiment number. this consumer sentiment so consumers are saying hey refill gray. they are making more money. why are they saving? >> there still that element of fear that still out there. they are little bit of afraid of where the economy is going. it's only been a couple of months that we have have this rally. therefore i think people are still holding onto their money. they want to make sure this rally is going to continue and i'm a little bit lukewarm on
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this rally. arnold is going to continue through the end of the year but people are moving on and they want to make sure they will have funds going into the next couple of quarters and they will start spending again. >> we performed the first half of the year where we finished the first half of the year, lukewarm. i would be getting a little bit of taking things off the table may be putting some money and some names up. very comfortable with risk-averse i'm telling you. charles: that's the thing in this market rotation so are you saying that's a legitimate think was when the data. >> nasdaq is up made you take the prophets and put them somewhere else. >> there's a rotation or is this the end of the debt rally i'm in the camp of rotation. nasdaq has been dominated by big names and i think there's nothing wrong when you see that type of performance. that's what you saw energy pickup and financials pick up. >> the market is a little bit
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overvalued. the price earnings ratio which values the market is up 70%. we have the higher valuation on that. he becomes a little fearsomely thing. charles: it is a mistake though to pick the top. in other words should investors let their winners continue to win and maybe you never know where the top stars or you could be premature to pull it out basically -- based solely on evaluating. >> i've been trying to time this for lack of a better cliché i don't see the canary in the coal mine. charles:. >> we are big fans of housing for a variety of reasons. inventory low so construction is way down. it's kind of a simple man but loving home depot home improvement appliances consumers charles: 100% american on the
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eve of july 4. >> i like nike. i also like apple. since its debut with the iphone the stock has been up 727%. it was a really good buy. i know people are questioning the innovation now that steve jobs is not around but however i think it's something people want to stay in. charles: thank you both very much. what about this investment? bitcoin. this thing is gone strictly through the roof and people are asking is this the new goal? and bring in someone, let's put it this way i'd be up 1000%. we will be right back.
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charles: in december 2013 bitcoin caught everyone's attention. they had a 1000-point rally and in december that year before it started to ease in and drifted over the next couple of years and for the most part we wrote it off as technologies answers to beanie babies predict back in the time the rally feels different. not only is bit point and other crypto currencies gathered mainstream acceptance the underlying block change technology is capturing the business world's attention too. there's a lot of elements and output let's face it it's used in ransomware attacks and unsavory attacks legal and illegal but some say a single bitcoin could be worth $1 million in a a few years prettier discussed naomi brockwell and tammy bruce. mail me i will start with you because you used to work with john stossel. he stopped by my office once a week instead get bitcoin, get bitcoin, get bitcoin. >> you are interested in bitcoin
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now. charles: it went up 1000% in two years. >> it is a financial revolution in the recent bitcoin is a financial revolution is because it's decentralized. the main people who are promoting this technology are people who understand that government can be dangerous and we are lucky in this country. the u.s. government is so much better than others and worth a look at countries like venezuela. bitcoin is literally saving lives because the government has destroyed the country. children are painting in classrooms because they haven't had any food. bitcoin helps because they don't have access to food that they can use bitcoin and buy groceries on line in america from walmart and amazon have a ship to venezuela. that is what a supporting role communities there. this is really exciting stuff so we have a technology that can circumvent dictatorial regimes now. charles: i was always intrigued by that aspect of it but i never trusted the technology part today feels like more and more
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smart people are saying hey this is the way to go. this is a way to be safe but he used to be the same argument was for gold. >> indeed and i like bitcoin specifically because it allows you to go beyond the establishment. my father was an enforcer for the mob and at least now i'm finding myself being able to get rid of or fight authority legally. in this dynamic here's my current turn. i like cashmore angold of course because nations are now going cashless and that also affects our personal freedom. its every action you take is going to be traceable or even if with technology bitcoin relies on access to the internet you are still at risk and this is my concern. i like that it goes beyond establishment that you can use it anonymously. it's like if you had cash for gold. charles: government controls the internet but they do not control the currency.
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>> du quoin is decentralized. it can't be shut down by the government. charles: i'm shutting down internet and i'm shutting down transactions. >> people can use bitcoin on their phones these days. >> it still relies on electricity. >> it can be transferred in be transferred instantaneously across the world. >> the dynamic of -- grids going down to the internet is only good if you can turn on your intranet. charles: i want to give you credit for this because you have been preaching this. more more people are asking me about it and that's why wanted to do this segment. where do you see going? even though your rose-colored glasses are optimistic honestly what do you really believe? i've read articles of $1 million in bitcoin. where do you think you can go?
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>> the moon is the limit. >> a million dollars. >> going to the moon. charles: let's leave it there. next american backed forces on the verge of victories against isis in mosul and raqqa but we are on the cusp of big trouble. we will be right back. w
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♪ and let me play (bell ringing) (audience cheering) .. charles: american officials say up s. backed militia cut off the escape route to raqqa. they encircled the islamic capital. iraqi forces have captured that
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stronghold. these are two big he accepting victories. we won, we lost, we took our eye off the ball. where would think leave us with respect to the next tarring net iraq, and does this give you confidence the iraqi army could almost take care of themselves. >> this is the biggest victory against the islamic state. mosul has historical significance. it was a major national city. the seat of previous califes. the fact that the iraqi army is taking it from them is a key part of this. charles: al-baghdadi declared
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the caliphate there, and they turn around and blow up this ancient mosque. if they were able to influence kid in the west saying we are beating the biggest armies in the middle east and now they blow up their own shrines, shouldn't that help us fight terrorism at home? >> it should. it's a win to cut down the black flag and let isis die. the challenge is, what are they going to do in the sunni areas of iraq and sir yeah where they have been wreaking havoc. so i think we need to look at what they are doing. if they are going to rebuild, let them have a say in who governs them. >> this is the biggest argument
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for the u.s. to remain in iraq. charles: isis is a dirty little secret we can never solve that? >> we are at an historical inflection point of 1,400 years a sunni-shiia civil war where never before have the shiias been so strong. that won't change whether isis is defeated or not. charles: people are tired of seeing american bodies and fund go over there. >> what we need to do is check the iran what progress toward regional hegemony. what would be helpful if the gulf arab state sent peacekeeping troops into these areas. they could also send money for rebuilding and let them take all
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the devastation isis has wrought. turn it into a little bit of stability and then we can talk about what the government look like once they have had a chance to rebuild a little bit. charles: on the eve of july 4, we have to remember freedom isn't free. we paid a heavy price for it. lou dobbs next. david: good evening, i'm david asman in for lou dobbs. he's on vacation. president trump is apparently losing faith that the senate republicans will ever pass their healthcare deal. the president today suggested a brand-new approach. repeal obamacare and replace it later. mike emanuel has the report on the search for compromise.


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