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tv   Cashin In  FOX News  June 25, 2016 8:30am-9:01am PDT

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brexit of course slamming president obama's intervention about six weeks ago, where he came over to the uk and said you should stay inside the european union. hillary clinton as well. he was in fact asked about land and brexit. scotland voted to stay inside of the european union and they might now become an independent because of that. he said well, that's a good thing and there will be more european union countries who will break away from the eu as well. he was predicting. david, not everyone loves this donald here on this side of scotland. we met up with a small group of university students who were protesting, kept a good distance away from the events here on the golf course. they're concerned about his rhetoric and some of the things he's done here, environmentally, local neighbors, others have been said about some of the things he's done with his course as well as some of the things he
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said. one final note david, another reporter asked him about his comments yesterday, where he said when we saw the pound sink massively as a result of the brexit vote, is that a good thing or a bad thing. he said it was a good thing because here, more americans will come and spend those pounds, those cheap pounds and it will be good for tourism. accused asked if that was ins sensitive, no, markets go up and down. back to you. >> certainly true. that's the way markets go. thank you very much, greg. good to see you. the media kind of wrote off brexit and we saw it turned out. could donald trump benefit from the media writing him off? former media tycoon joins us now on the phone. i kind of like it when the mainstream media's caught totally flat footed as they were on the brexit. do you? >> i do, but in this case, and i must say, i'm astonished, this s a very close race all the
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way. it was always between 5-45, both sides. sea sawed back and forth. where everyone was so complacent about this, i never understood that. you may recall i dikted, actually, actually it was the other fox channel, but i thought it would be very close, but they would win. >> indeed, they did. obviously, it wasn't just the media. the markets monday through thursday were going up in expectation that they would stay. that britain would stay in the european union, so the markets got it wrong as well. this s is there a message here for all those who discount stimt right off, donald trump? >> i think there may be. first of all, the people who were provide the initial reaction in the financial markets are easily stam fepedes. too many who short or go long. you get panicky activity.
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to set things right after the events that's been speculated, but the fact is, they're entering a two year period of negotiation and it's not clear britain's going to leave europe, but they're going to leave or renegotiate their position, but it's not going to be a sharp break on monday morning. it's ging to be a long, quiet, koch kated. good reason for this panic, but to get to your question, yeah, i think we have, we've had a phenomenon here where the british felt they were giving their sovereignty away and wanted some back. that's not the american, america hadn't given sovereignty away. here, the complaint, the complaint is bad government for a long time. the housing bubble, the recession, the end l. >> alana: wars in the middle east. no response to millions of undocumented ill grants.
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the importation of -- and bad trade agreements. it's just bad government and the public was fed wup the political class and 50% of the democrats voted to go far to the left. 30% of the republicans went voted to go with to the right and hillary clinton held her position barely by moving somewhat opportunistic and donald trump held his by holding the policy, rounding up the archie bunker vote, these rather inflammatory comments about immigration. my point is if whoever it is is the next president doesn't actually have a successful administration, four years from now, we are going to have candidates who are from outside the 30 yard line. >> we already do. we have a republican candidate who is outside the 30 yard line. the thing is, you use the phrase take our country back the refer to what happened in great britain. we hear same phrase here.
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>> this is true. the point is is is that a lot of the issues over there, yes, we tony have to look to european bureaucrats with disdain, but people to think of inside the beltway as kind of the same thing, don't they? >> i think so. the republican establishment was down to about 10% of the party when it came time for everyone to you know, come out of the water and see who was wearing bathing attire. they weren't. and on the democratic side, i don't think the clinton group has the remotest idea at the beginning. >> i don't think the media does either. lord conrad black, we have to leave it at that. thank you very much. >> always a pleasure to speak with you. >> paul ryan blasting democrats for fund raising off the gun control sit in. we've got a heated debate on that coming next.
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the brexit fallout continues. the latest on that and britain's iu commissioner calling it quits. jonathan hill says actions have consequences. he is the right thing to do is to stay just as the ppm says he's going to do. iran is weighing in. an official there calling it a quote big earthquake and part of a domino collapse of the european union. donald trump meeting with protests in scotland today. some waving mexican flags. at one point, credit service moved in as he was peppered with some questions. take a listen. >> muslim coming into the u.s. would not bother you, so does that mean you're proposed ban has changed a little be bit come into the country under your temporary muslim ban. can a muslim come in right now
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in. >> stay back. >> over here. >> still a presidential candidate, ooefben when he's there on business. he was being peppered, sounded like an american was asking him. talk about manager happening in america. democrats fund raising off gun control sit ins in congress. up for re-election, david and they are exploiting this tragic terrorist attack that occurred in orlando, florida. by fund raise iing on this effo. and listen, they can't fund raise on obama's successfully crushing isis because we know that did not happen. they are running rampant all over the world, isis. he minimized isis and their potential. their contained. the democrats are totally exploiting this situation. >> paul ryan has spoken to this
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point. let me play that sound. >> they are send iing out fund raising solicitations like this one. house democrats on the house floor. your contribution will go to the d triple c. this this is not a political stunt, why are they trying to raise money off this? tragedy. >> jessica, there must be a political cost. maybe they're going to get some money coming in, but there must be a political cost to using a massacre as a fund raising tool. >> they're not using a massacre. they're using the sit in and lack of action in the house of representatives, so it's the height of hypocrisy for republicans. it would be the same way for democrats. the same kind of e-mails they send out all the time. these were democratic members of the house asserting their right to try to get the work done. i mean, that's one of the bigs gripes american voters have is that nothing hping in washington. what does happen is in effect
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yawl and what people want to see. we know doing what should be a common sense piece of legislation in terms of letting people under suspicious for being terrorists, keep them from buying weapons. >> jessica, you know why so many americans are against it. it's the idea that the nose under the camel's tent. start with this, then move in on other weapons et cetera, et cetera. that's the argument to which you say. gl that's the argument, but i think the average american doesn't believe that and they don't have a problem with making sure -- >> you may think that, but polls disagree. there have been republicans who have kind of maybe not used it as a direct fund raising tool, but put the massacre in a political context. doesn't that poor to the republican side? >> if you're going to use this tragic incident that happened in orlando for fund raising
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purposes, i find it to be outrageous. what politicians need to be doing is working together to figure out how we're going to defeat isis. we have orlando, san bernardino, boston. there were more than enough red flags out there. for our government officials to do something and recognize they are not joking around. this is a serious issue. >> fair to pull in the gun control orkts all of the various arguments in light of these massacres. >> that's what the left does. this is selective, david. we don't hear about gun control when all these individuals in chicago are being murdered on a regular basis because of guns. >> let's go to jessica. it's undeniable that chicago has some of the toughest gun control regulations imaginable and gun violence there is through the roof. >> you know i think she has two good points there. first of all, she's right that if either side does it, then you know, that's an excellent point.
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raising money off o tranl di is not acceptable, but what they were doing here was trying to raise money from the action as a result or lack of action of o it happening in the house. >> there was clearly a component of the massacre in their sit in. they talked about gun control because if they had better gun control, there wouldn't be massacres like that, so they brought it into discussion. >> it's not that there wouldn't be, but we would have more secure ways to stop them hopefully from happening in the future. that's the whole point and it's not just, it wasn't just orlando. but that was the final straw that broke the camel's back as they say because we've seen this over and over and they've mentioned while they were doing the sit in, newtown and all the other things. mention the horrible situation in chicago. it's not selective. >> yes, it is and they're using
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the situations for their own political gains. >> no, they've actually -- come to a point where we have the largest massacre in the united states history and it's woken up people. you know, not everyone goes to chicago or the -- but when it happens, orlando, we know it's happening in our own backyard. >> there was a congressman, i think ngomer, who came in and said it's not gun control, it's radical islam. to which jessica, you would say what? >> well, the point of the legislation is to keep people being radicalized from legally purchasing weapons. >> they're sprenting from doing that in europe and we see what's happening there, jessica. >> but it's, why do we not have something in place that could either delay or prevent o any w. >> i'm sorry. >> it didn't do any good in paris, did it? >> but we don't have anything in place right now and it's one more tool in the weapon that could be used. >> but it didn't work in europe.
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the point is that europe has absolute restrictions against the kind of weapon that is the terrorists use to kill dozens and dozens of people in europe. whether it was in brussels, paris or where ever. >> it goes from guns, could go to box cutters. it's selective outrage what we're witnessing from the democrats they should not have used the situation to exploit for their fund raising purposes. the problem is radical islamic terrorism. some can't say those words and it's outrageous that americans lives are at risk. >> we've run out of time. >> no guarantee it won't happen in the future, but we can do common sense things to help try to alleviate the situation and protect more americans. >> last word from jessica, thank you. have a wonderful weekend. mean tiwhile, deadly flooding devastated the state of west virginia. this is its worst floodinging in a century. 23 people have now been confirmed dead. the very latest on this coming up. is back with the iphone.
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deadly flooding in west virginia. i understand more than a dozen people killed. >> yes, 23 is the latest number we have from state officials, but sadly, they expect that number to go up. this morning is is the first time that search and rescue teams are able to get back to a lot of these areas which have been completely blocked off by these flood waters. they are calling it a once in a thousand year flood. for a lot of folk, they're just now getting a chance to come home and see what the damage is like. it wasn't just cars. homes that were swept away. it was businesses. right beyond this railing here,
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the elk river. the river right now is about 20 to 25 feet below that railing. 36 hours ago, it was completely covering everything here in this parking lot. including this dairy queen. this is a staple here in the neighborhood. now, look at it. you can see how these flood waters just decimated these concrete wallsen side, tore them down, left mud covering everything. inside. this is just one example of the many businesses here that are just going to be ruined. folks are saying, and as sad as a a lot of this scene is today, there are some happy reunions. we spoke to one woman, lisa rollins, she was at home when these flood waters started to come up. she said after they covered the entire first floor, she had to move up into the second floor. when they covered the entire second floor, she was in the attic on top of an ironing board with her two dogs. calling 911, trying to get someone to come and help her. her husband had gone to check on
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their business just before these floods started. she had no idea if he was still alive. eventually, firefighters were able to come and rescue her. here's how she described that moment. >> the water came so rapidly, they could not get a boat to us during the night. so we had to ride it out until daybreak and then boats came, if i'm correct, i believe we got out about 7:30 in the morning by boat out my front door. by the fire department. thank god for them. >> her home, her business, her car, completely destroyed. that is the same story of so many folks here on the ground. there's been an outpouring of support from local churches. friends and family, but they are saying they need more help. the governor of west virginia has just filed to have this flooding disaster to be declared a federal emergency disaster from fema so they can get that
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additional support on the ground and lisa, wanted to let you know, late last night, she was finally reunited with her husband. >> thank god for that. bottom line is 23 dead in west virginia. awful flooding. thank you very much. how can you profit from the panic overseas? the stocks that could be ready to take off after that brexit sell off on monday. we'll tell you what they are coming up. my experience with usaa is awesome. homeowners insurance life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life.
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okay, this is breaking news out of mogadishu, somalia, where terror rests are taken over a hotel. according to reports, two of the attackers have been killed, but a lot of civilians as well. four bodies have been seen lying on the ground there. this is an ongoing situation.
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not only gunfire, but also grenades are being exploded. one witness said they are shooting at everybody they can see. we are on this story from somalia, but back to the brexit and shock to a lot of stocks, trillions of dollars were lost all over the globe, so what should you do when the markets open on monday? here with us, money manager's dave manning and jonathan honing. jonathan, right now, while people have some time this weekend, should they be thinking about how to rejigger their 401(k) and if so, how? sfwl. >> the first rule in panic is don't panic. we are in unchartered waters. never had so much government manipulation. friday was bad, 600 points off the dow, baugh in 1987, there was black monday. we could open to a major plunge monday morning.
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one swallow does not make a spring and if you have a long-term time horizon and are holding good toks at reasonable price, even at 500 or 600 points shouldn't upset your apple. >> i'm going mix jonathan's m metaphors and say i'm swallowing hard now trying to figure out what to do. on monday morning, just going to hold pat? >>. >> i think the steady hand is called for here. if you read kind of press accounts and if you read them today and listen to what folks in the uk are saying, i just can't help fight the feeling that this is overblown and less black and white there's been treated by the markets and many in the media, so i think a steady hand probably is the right way to go. >> jonathan, there's a reaction to the manipulation that's going on all over the globe by central banks, by governments regulating to it. maybe this is a healthy reaction to that.
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>> the most, you look back on friday, the countries hurt the most were those that were the most collective. spain and greece and france. these countries have stock market returns that were even worse than here. here in states and in europe, so i think now is a great time for every country to take a look at the fiscal policy. the less they can be like eur e europe, the more individualistic capitalists they can be, the better. >> dave, by the way, when jonathan was talking gloom and duoom, we were putting up these positive points. it is important this remember that markets come back, except during the long depression if the 1930s. even if we see worse to come on monday and tuesday, don't you think we're going to bounce back eventually? >> yeah, look, here's what i think happened. the markets repriced for greater uncertainty and much more you know, not knowing what's coming next. that much is clear. but what didn't happen is we did
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not just send some black shroud over the european economy. there's going to be a resettlement of how things work. >> thank you very much, dave and onthan. a lot more to come with elizabeth pran and leyland vitter right now. after the plunge, how britain's pullout is crushing your 401(k). mortgages, and more. >> and why the forces that led to the brexit are being compared to donald trump supporters and their calls to make america fwraet again. >> plus, massive wildfires out west turned deadly. we're live as the battle continues. many. well, it is a beautiful summer saturday and we're glad you're with us. nice to beit


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