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tv   Cavuto Coast to Coast  FOX Business  August 2, 2016 12:00pm-2:01pm EDT

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tpp? don't want to wait until your domestic politics, looking at it from somebody on the other side of the pacific that has been intimately involved and triggered the whole process because we started the p 4, and just become this important initiative. the economic arguments for the tpp in terms of trade the president presented eloquently, what the benefits are to american companies, it is a deal which the countries have negotiated, each one providing market access. on their side in return for gaming markets access on the other side, each one committing to rules and exchange for the other side committing to rules, hard-fought bargaining process, negotiators, many nights and many don's and fought it out. but at the end of it everyone must decide plus or minus, and
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in your case, various trade representatives and negotiators did their best to bring back something the political leadership could stand by and support. it is an achievement all the members of the tpp are still with us and no one has dropped out. obviously there is something in it for each one of us and we should look at the other side of the economic benefit which is not the producers, exporting, i am earning a job but also spending, consuming, importing, and because it is straight up trade i am getting a wider range of opportunities which will improve my livelihood. people don't want walmart, product come from all over asia. who benefits, walmart, many people in america, not just exporters but people living in
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the midwest. these are parts of your every day in visible standard of living and yet it is real and it is radical. in terms of economic benefits, the tpp is a big deal. in terms of america's engagement of the region, you have put reputation online. it is the big thing which america is doing in the asia pacific with the obama administration consistently over work and pushing. partners, friends who have come to the table, negotiated, each one of them has overcome some domestic political objection some political cost to come to the table and make this deal. and if at the end, at the altar the bride doesn't arrive, people
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are going to be very hurt not just emotionally but damaged. for a long time to come. mister abe, some of his predecessors thought about and decided not to participate, they came very close, prepared the ground, walked away but mister abe decided to commit because he wonts his country to manage and open up the market and this is one way to do it. you don't do this while it hurts mister abe but it hurts the relationship with japan, your security agreement with japan and the japanese living in an uncertain world depending on american nuclear umbrella, will have to say on trade, the americans could not follow through in which life and death, who do you depend upon?
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and absolutely serious calculation which will not be said openly but i have no doubts. if you go beyond that i would like to link the tpp question with another question, where do we go for the next 50 years? that depends whether we go towards interdependence and peaceful cooperation, self-sufficiency, and higher risk of conflict. asia has tried both, the world has tried both. in the 1930s with smoot-hawley, with the depression, a difficult international environment, protectionist policies, rivalry with japan which led to war. after the war, because america was open, promoted trade, encouraged investments and other countries to open up, therefore
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the asia pacific has been peaceful. if over the next 50 years you continue to work towards interdependence and cooperation and neutral prosperity, then 50 years from now we can say these have been peaceful years and we make further progress together but if you go in the opposite direction and decide this is a big pacific but big enough to split down the middle, one is mine and one is china or india or japan, that is a different world. one of the reasons you have a manageable relationship with china is because you have trade with them. it is enormous, mutually beneficial, both sides want to maintain the relationship. if you didn't it would be like
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the soviet union during the cold war when you had negligible trade, still had to find ways to work together but it is much harder. the tpp doesn't include china although some people think it does. it points toward the world, toward orientation of the society and if you are in the wrong direction, maybe in the next 50 years sometime you will turn around and the world will pay a high price. >> i'm from the business times in singapore. good afternoon. two questions, one is a follow-up to the tpp. everyone knows what is at stake, but what is the future of the tpp if it does not get ratified by january 3rd? the fear is if things wait too
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long, and reopen for renegotiation, that will kill the deal so how can we reassure tpp nations and the people that there is the political will to get this done as soon as possible? second question for president obama. we are almost at the end of your eight years in office. i would like you to evaluate the progress of the us balance to asia. what is something you are most proud of, something you would have done differently, what is your message to your success or whoever he or she may be to continue to engage singapore, southeast asia and the rest of the asia pacific? >> with respect to tpp, i thought prime minister lee's
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points were right on target. this is an economic agreement, but what we learned in history is you can't separate economic interests and issues and security issues and interests. the prime minister is absolutely right. we have benefited from enormous peace and prosperity around the world is unprecedented period when the great powers were not engaged in conflict. in part because of growing interdependence. if you think of those parts of the world where you see conflict, high levels of violence.
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into the world economy. there is a reason for that. so i think there is a powerful economic case, basic bread and butter case to be made why this is good for american workers and good for american exports and ultimately good for american wages if it is structured properly. i also think there is a strong security component to this. what i also think is important for people to recognize the alternative is not tpp or some imaginary circumstance in which suddenly we are able to sell goods around the world, wherever we want, but nobody is able to sell goods to us, where we can operate anywhere around the world under fair rules but they can't operate in that fashion.
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whatever is being imagined as the alternative is not the alternative. the alternative is what we have today, a situation in which we don't have as many protections around labor and environmental issues as we would like. a situation in which countries like japan that sell a lot of goods here, keep pretty restricted access for us companies and us workers to their markets. prime minister lee is right, prime minister abe of japan has taken significant risks because he needs to know he needs to make the economy more competitive and consequences open up access we haven't seen in the past and that is a big market. still one of the top three economies in the world. the last point i would make
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around this is china. china is not a part of tpp but if we don't establish strong rules, norms for how trade and commerce are conducted in the asia-pacific region, then china will. china is already engaged in all the countries in the region around its own version of trade agreements and they are not worried about labor standards or environmental standards or human trafficking or anticorruption measures, so you get a low standard, lowest common denominator trade deal and if america isn't creating high standards, then china's rules will govern in the
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fastest-growing part of the world. that is bad for us economically but also bad for security interests and bad for the interest in promoting norms against china -- child labor or human trafficking or making sure everyone is working harder to raise conservation standards. that is the alternative, that is the option. it is important for us to get this done. in terms of assurances, nothing in life is certain. a good track record getting stuff done when it is important. i will say this, this actually is not just an obama
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administration initiative, this concept began in a republican administration. we pushed it through, we made it happen, we made sure the things that i care about in terms of labor and environmental standards were incorporated into it but this has had strong bipartisan support. bottom line is we will make those arguments and i think we will be successful. in terms of my rebalanced legacy, across-the-board, we are just in the game. we are focused in a way we weren't when we came into office and the countries and asia have noticed. our alliances are strong. our security arrangements are deeper. whether in australia or the philippines or singapore. our defense budgets reflect our
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commitment to things like maritime security in the region. the continuing efforts around building the east asia summit architecture means there is a kind of day-to-day interaction around a whole range of issues, whether it is disaster relief or public health issues or counterterrorism, there are consultations taking place today that are not taking place years ago. so on every dimension, we are in a much stronger position to engage, influence and learn from our asia-pacific partners. the thing i enjoy most has been our young southeast asian leaders program because whenever
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i meet with young people from those countries i'm inspired. it makes me optimistic about the future and what happens over the next 50 years because if you ask them about the future they want to see, they are very much committed to an interdependent world, a world in which people are learning and exchanging ideas and engaged in scientific and educational exchange, a world in which people's different cultures and backgrounds are a source of strength and cooperation as opposed to conflict and fear and that is true in southeast asia. that is true in africa. that is true in latin america. that is true in europe. a lot of this fear in the choice posed by prime minister lee, the
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self-sufficiency that is not achievable and ultimately in conflict, those who opt for rivalry are folks who are looking backwards. you talk to young people around the world they understand that interdependence is the way we will assure peace and prosperity for all of us for years to come. that may be the thing that has the most lasting impact in some of those town hall meetings i have had, some future prime ministers and presidents and business leaders, not-for-profit leaders that will do great things and i am glad to have played a small part in that. >> thank you. charles: president obama and singapore's prime minister
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wrapping up a long news conference making a pitch once again for trade pact with asia, the infamous tpp. his focus shifted to donald trump. i am charles payne in for neil cavuto. here is what president obama just said about the gop nominee moment ago. >> i think the republican nominee is unfit to serve as president. i said so last week. he keeps on proving it. there has to be a point at which you say this is not somebody i can support for president of the united states. charles: president obama went on to urge gop leaders to withdraw their support and endorsement of donald trump. steve cortez and democratic strategist, president obama saying donald trump was, quote, woefully unprepared to do this job, quote, unfit to serve as president. what say you? >> i'm not surprised.
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in many respects hillary clinton is running for obama's third term. america is going to reject that notion because what we have seen in the first two terms is slow growth and insecurity around the world at home and abroad. the macro themes of security and growth, trump offers a different vision from obama's effective third term. charles: hillary bouncing, some of the issues, some of the items where trump should have a clear lead and doesn't. i don't think it is because the american people don't think he can do the job, you have the resume for it, it comes down to temperament which president obama was trying to hit on just now. >> it was exactly. i was shocked she has moved so far ahead on the ability to handle national security which is where he was holding wait. still a little ahead on handling terrorism but you are completely right. president obama made an important point where he said i
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didn't agree on policy with john mccain and mitt romney but i thought they could do the job, they had fitness to do it. they don't feel that way about donald trump. he has blown a tremendous opportunity in the wake of his convention to spend his time disparaging the goldstar family, needless issues that have nothing to do with his ability to lead, talking about how the new york times don't have good writers, maybe we will have a media blackout. it is always a distraction. if he could stay on message this would be a very competitive race but he is wasting it. charles: there are still 100 days left, a lot more competitive than the post-dnc bound which is almost a given but this morning two -- stuart varney had an opportunity to interview donald trump, tried to lure him into a rebuttal against warren buffett, donald trump rejected that and said he did focus on the economy, he did focus on isis. is that what you want to see?
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>> absolutely. i don't want him to take the bait, major in the minors. we don't have to address every attack no matter who it is from on the trump campaign or on him personally. we have to focus on the macros and the macros, national security, the world is spinning out of control, too many innocent people are dying in our streets, the streets of your. what we are doing is not working so we have to defeat isis, secure america and much of the world. the other big macro is economic growth. this is the first president in the history of the united states who will never have one year of 3% plus gdp growth. we are too great a nation to tolerate that kind of mediocrity and we can't have it anymore. most americans haven't seen their wages grow since the year 2000. to be bipart george bush wasn't much better than obama. we need a very new course. donald trump offers that. he is an outsider, businessman, builder, someone who knows how we can achieve growth america so
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differently once. charles: i think bush had an average growth of 2.8% annually and president obama, 2.1%, well below historic averages. the warren buffett attack, i don't know if everyone sayyid but listen to warm buffett attacking donald trump and donald trump's response. >> if a monkey threw a dart at the start page the monkey on average would have made 150%. the people that believe in him that listen to his siren song came away losing well over $.90 on the dollar. >> i had a public company based in atlantic city. if you look at atlantic city, atlantic city was run down, look at everything that happened in atlantic city, i have been out of there for seven years, had a great time and got out.
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i made a lot of money in atlantic city over the years. i have to look at my company. charles: on the one hand he is echoing a statement, i made money but your stock went down 90%. anyone who held stock did not make money but the tone of the conversation this morning with stuart varney, there was no vitriol, he answer the questions and tried to focus. are the democrats guilty of bringing up the vitriolic aspects to this election cycle that they blame donald trump in the republicans for? >> i don't think so. charles: talking about monkeys and donald trump in the same sentence. >> i thought you were talking about what the clinton campaign is talking about, they have been right on in talking about what donald trump did to atlantic city, interviewing people who got stiffed by him. charles: the tone that warren buffett took, the kind of things
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-- >> it was not appropriate. i don't think everyone will be controlling him. we got it yesterday on your show. championing hillary clinton and her policies. it is important that hillary has these surrogates on the campaign trail, mark cuban, michael bloomberg, warren buffett, donald trump was more composed but he said i don't care what warren buffett thinks, donald trump cares what everybody think about him. there is no way it didn't sting. charles: look at that. >> i love being on with steve. charles: thank you very much. stay with us. i want more reaction to president obama, we will take it to the trade aspects, still trying to sell the trade agreement. both candidates are against it. much more after this.
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>> tpp level the playing field for our workers, strong labor and environmental rules, this is an opportunity to grow the economy and write the rules for trade in the 21st century in a way that is equitable. it gives us a chance to advance american leadership, reduce economic inequality and support good paying jobs while strengthening critical strategic relationships. charles: president obama pushing a trade deal that both candidate, donald trump and hillary clinton do not support. steve cortez, we know these stray deals are extraordinarily unpopular, although many economic experts say we need to have trade with the rest of the world. where is the sweet spot? where do we get the, quote, fear
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of trade? >> this is a key issue and it is resonating with the american people because there is a disconnect between the elites in business or politics and regular people. the plight of the regular people is not appreciated by a lot of elites pushing trade deals. i am a big trump supporter, i don't agree with him on everything. i think tpp from what i can gather is a good idea for the economy. trump on this point -- the bigger point trump is making that i do agree with wholeheartedly is america is in a lot of bad trade deals, the worst being with china where we are manipulated on the foreign-exchange transition and very much there is no equanimity when it comes to reciprocity of markets, china is not as open to us products and services as we are to their products so there needs to be reciprocity. we have been abused in trade relationship with china so on
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tpp i would put that aside. i won't tout donald trump's line on that one but on china i will hardly agree the united states has gotten the raw end of a bad deal. charles: we know the american worker particularly the blue-collar worker, they don't think nafta or these others -- the idea that president obama is touting this makes people feel something is going on. if hillary wins, either he will try to push it through during a lame-duck period or there is a wink and a nod and hillary will not run on this but she will as part of carrying on the third term of obama pushing through as well. >> that is what terry mcauliffe mentioned accidentally a couple weeks ago. this issue may have come up before. we will see the signs and i agree with steve that tpp is good for american workers and
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keep us involved in the global economy and i don't want to see tariffs go up and is to be caught out by the rest of the world and the type of trump surrogate that can admit when he doesn't agree. >> if all of us disagree with our candidate on this issue -- >> it is normal to be pro-free-trade but among working-class americans 50% think they have never benefited from a free-trade deal and that is what is going on. now that clinton is chasing that demographic which is the only place trump is leaving her, it will become more of her platform but i could see a reality where with some tweaks, she will get input from elizabeth warren and others. charles: let me ask you, president obama admitted people lost jobs with current trade deals, admits workers lost leverage and capital is mobile and a lot of areas, what has been left is you get the so-called rust belt. >> what is important when
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america can compete in true free-trade america does great. we can compete with anyone in the world and donald trump is not against trade or globalization. he has invested all over the world. he is a global businessman himself and global mogul. he believes america when the rules are fair and true free-trade america will win the trade relationship. what we can't have is lack of reciprocity or unfair rules and with china we have incredibly -- not even just trade. trade is one of the only levers we have to use against china. charles: we are running out of time. i love your straightforward honest answers. we have double-digit loss for the dow on track for the biggest losing streak of the year. we will break that down because the market is wobbling. ♪
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charles: dow jones industrial average mostly read on track to go down 7 days in a row, what this can mean for the market long-term. we had a huge move, broke out new all-time highs. coming down on the low-volume ahead of a major day on friday. how do you see it? >> i see it as normal.
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and the market pools down a little bit, not such a bad thing, but this is such a crazy world that you can't take anything for granted. maybe it dawned on investors that someone will win this election. it doesn't matter who, it will not be that good. charles: do you see the election influencing the market? >> as we get closer to the actual day, yes. for me, i said to other people, it feels like when i wake up in the morning i'm in a parallel universe which i can't believe who is running on both sides. charles: are you concerned about the impact to the economy? >> very concerned. charles: we had donald trump on stuart varney, doubling hillary clinton's infrastructure plan.
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he put out the number 275. i thought it would be $1 trillion. whatever it is both candidates are going to come in and put some money to work immediately to spark job creation. >> that is not a bad idea depending how they pay for it, depending whether they partner -- charles: better than high taxes. >> whatever, yes. high taxes is a recipe for disaster. really it is. that is the last thing this country needs at this point but we have our backs against the wall. there is no productivity growth. our banks are basically loaded with cash, all dressed up and no place to go. loaded with a combination of cash and debt. if you want to wake up call, look at these european banks. deutsche bank which is germany's largest, best recognized bank in the world, recently created below its 2009 low. that doesn't say a lot for
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europe, doesn't say a lot for the world. charles: europe is no longer the pulse of the world. they were bypassed a long time ago and they raise socialist policies, and that is where they have immigration problem. >> they are a big economic block. charles: they haven't grown. >> you are preaching to the choir. i agree with everything you are saying and it is unfortunate as a legacy they still have big economies and they are unraveled. a lot of debt comes due. charles: for the investor watching, they held through the thick and thin. what do they do? stay the course or wait for mor? >> i preface by saying i have
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not been a gold bug all my life. i'm not a gold bug now but it is a necessary investment in today's environment. when so many things can go wrong. you have got to have some insurance. stay with stocks. you feel sure about their earnings like thermo fisher which is in the healthcare sector and won't be subject to these crazy regulations and whoever gets rid of these regulations, we mentioned higher taxes, get rid of regulation, get productivity going. stocks, commodities you want to stock like rail tinto which is the best managed commodity play in the world. as good as it begins, and solidly performs, and they are
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doing -- charles: thermal tm oh. charles: what discovery communications for the media business, donald trump told stuart varney about a solution that might surprise some of you.
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down 110 points. we haven't seen extended losses a year ago. the s&p 500 down 17, the nasdaq down 66, all 10 sectors are lower. downside earnings, and you can see that is up 4%. aetna also gaining at this time. they will withdraw plans to extend their obama care business. and going to be electronic arts. fix it will be focused on operating costs, and 52 weeks, the videogamemaker and nfl and the like him. those are the names to watch.
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charles: donald trump making news, the gop nominee telling stuart varney they need to rebuild our infrastructure and pay for through infrastructure funds. >> we have to get a fund, make a phenomenal dale with below interest rates and rebuild infrastructure, we have no choice. stuart: who would put money into the fund? >> people, investors into the fund. citizens would put money into the fund and we rebuild infrastructure with their fund
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and it will be a greater investment. charles: liz mcdonald is here, private infrastructure fund reminds me of war bonds. >> california has something similar, this idea sounds great. trump has more details about infrastructure spending then hillary clinton's details about how she will do infrastructure spending and a socialist government idea, something will come out. infrastructure bonds in california, doing it for some time. the question is can you make money on the bonds, who will oversee issuance? this is a problem. charles: particularly the low-interest environment. liz: who will oversee that part of money? reagan tried infrastructure spending, that money goes into the economy in 1986, the economy underway and all the ideas get lost in statanlocal levels. it seemed like great ideas but dissipates when you have elected
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officials jumping in. president obama's 2009 stimulus plan. charles: that is it. liz: 2009 infrastructure spending was $150 billion of the $800 billion plus and didn't go to shovel ready jobs. there is always shovel ready government spending, we don't know what the economic impact will be. charles: american society, civil engineers, $4 trillion to bring infrastructure up between now and 2020. they are out there. anyone watching right now, has hit a pothole in the last 48 hours, we all know, implementing it has been big. either candidate will push this through, who is going to object to it, but how do you make it sustainable that it does to your point go to real project and create real opportunity, not
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crony quid pro quo? liz: the railroad system was built by the private sector, margaret thatcher says politicians and bureaucrats take infrastructure, you and i take the rail line or highway. these ideas sound great on the drawing board, but in execution are not as great. people jump on the bandwagon, the fresh pot of money. charles: the number will be closer to $1 trillion but we will see. discovery communication reporting after the bell. this could have an implication in all media. liz: had a nice earnings beat, the revenue was up.
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time warner, talking about 21st-century fox, disney in coming weeks, pressure on the media sector. we have known the story for some time. the one to watch is the utility, verizon has $10 billion to spend on content, so there are different players competing for your remote control. you get in fights with your wife over what to watch on friday night. charles: i feel like a heel with so many tvs. i avoided the fight for a wild. liz: that is the key. the content play, netflix flatlining. charles: haven't heard of it, these shows cost a lot of money, we don't know about these alternative programmers become big players, we caught them a
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lot of money -- liz: and important point. if you have the framework delivering the content that works quick and easy. and great shows put pressure on the balance sheet. charles: every time i come oh, how to kill your husband and get away with it, makes me nervous. millions are choosing, this may surprise you, not to pay up. what it could mean for you and everyone else because someone has to pay that bill. you pay your car insurance premium like clockwork.
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charles: americans default on student loans in a standoff with federal government, 7 million americans in default, many ignoring the phone calls and emails from debt collectors. i taxpayers on the hook for those? we see the number, over $1 trillion, has gone up extraordinarily since president obama moved out the so-called middleman. a lot of these folks are not paying it. who has to pay that? >> taxpayers are on the hook. here is an analogy that will make it clear. during the housing bubble we had government programs like fannie mae and freddie mac pushing out cheap money and home loans that ultimately backfired. the government as a predatory lender pushing out great loans but those loans in turn will jack up tuition prices at colleges and universities, special-interest groups had to get more money out of this and
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people, former students, and get education that made economic sense and left with $1 trillion and god knows how much of that taxpayers have to swallow. after they get involved in the sector of the economy is bad news. charles: we knew it would happen. it happened in the shadow of the housing implosion. president obama pushed anyone out who could have rejected a poetry degree for 100 grand. you can hand it, rubberstamp them all. hillary clinton talking about debt-free college and free college for families making $120,000. a ticking time bomb becoming exponentially worse. >> if you are an administrator, you are hearing this rhetoric out of hillary clinton thinking
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we will double on staff or pay ourselves higher salaries. the worst administrative and bureaucratic bloat at colleges and universities because of government intervention. government handouts and programs. i am not excusing individuals who took out these loans. if you got one of these easy money home mortgages in 2007 you should be responsible but on the other hand these people are being victimized by the government giving out free money captured by the university and students are left holding the bag. here is one thing that will change it. make the universities and colleges be on the hook if students don't pay back loans. i guarantee those students and universities will focus on what our good careers train people
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for. charles: i have asked the same question, sitting on $45 billion, they can finance these degrees and they get paid back and do something, quote, honorable. at the end of the day president obama said folks who took those housing loans no fault of their own and a lot of kids think the same would be said if they are getting a free pass on these. love your insight, thanks, appreciate it. the cdc urging pregnant women to stay away from a miami neighborhood because of the go. the mayor of miami-dade county is here, stay with us.
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. charles: president obama making a pitch. many say last-ditch pitch on his trade deal, but the focus quickly changing to the gop nominee. this is "coast-to-coast" i'm charles payne in for neil cavuto. president obama and singapore prime minister wrapping up a press conference in the last hour. while trade was at the forefront, donald trump was at the backdrop. >> i think what's been interesting is the repeated denunciations of his statements
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by leading republicans. if you are repeatedly having to say in very strong terms that what he has said is unacceptable, why are you still endorsing him? charles: to real clear politics associate editor a.b. stoddard. a.b., well, you knew it was going to happen. the press, even though it was all about tpp president obama went onto say donald trump was woefully unprepared to do this job and, quote, unfit to serve as president. what are your thoughts? >> well, i'm not surprised that he's weighing in, he's made it clear he's been waiting to go after donald trump. he did so last week in his speech, nominating hillary clinton to be the party's choice for president. and he has pretty much made sure by trying to coax republican leaders into unendorsing donald trump that they are going to stand by
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their endorsements of donald trump. i think that was sort of a calculated move on the president's part, but i'm not surprised to hear him. donald trump created a firestorm with his comparison of his job creation at his for profit company to the sacrifices of the khan family, and he has created something he didn't back off of soon enough, and i'm not surprised to hear president obama jump in, and i think we're going to hear a lot more of this in the three months to come. charles: a.b., where is the line drawn where donald trump has a right to try to defend his name, if you will? the democratic national convention is a major political platform, and he was attacked by the khan family. and i know most political observers say he should have just ignored it because he doesn't make it better. where does he have a right to defend himself? >> he defends himself all the time, charles, and i agree with the other observers.
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pat smith spoke about losing her son sean in the benghazi attack on the floor of the national convention. hillary clinton lied to her and the other parents of the victims of that attack. pat smith has every right to say that. hillary clinton stayed silent. donald trump deflected away from pat smith's speech by going on o'reilly and talking about himself or governor kasich whatever was going on that day, drawing attention away from pat smith. when mr. khan made the remarks, the choice for donald trump was jump in and defend yourself or make it be a one-day story, and he didn't. that's the problem, you've got to take the high road and go onto other topics like 1% growth or hillary clinton on fox news sunday. he gets back in the hole and the tunnel with the firestorms and makes them last longer. charles: but he does get help, a.b., right?
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he does get help from the media who all of a sudden mrs. smith made the rounds the last couple of days, and the interviewers were beating her up over trying to make her condemn donald trump rather than honoring the sacrifices that her family made. he does get help in the instances by the mainstream media. >> i'm not -- i'm pointing out that instead of helping amplify her message at convention, he called into bill o'reilly and lit up the twitter-verse on the topic of himself. it is a problem for donald trump that he often strays off message and creates not just controversies but firestorms from himself which gets away from the topic of defeating hillary clinton. his own supporters, charles, want him to stay on message and beat hillary clinton and not talk about other people and grievances with them. charles: numbers that have come out in the last 24 hours bear that out. and his interview with stuart
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varney was an example of not taking the bait. maybe it will be different from here on out. i want to ask but president obama pitching the trans-pacific partnership just moments ago. he made his plea in a news conference. i want you to listen. >> between our two countries has grown more than 50%. we're collaborating to jump start greater digital innovation including research and development into technology and data to improve and promote smart cities concepts that can improve the daily lives of our citizens. we'll do more to connect our vibrant start-up communities so we can collaborate with more. charles: donald trump telling stuart varney getting rid of the trade pacs will lead to a jobs boom. let's take a listen. >> the biggest job-providing program would be to renegotiate nafta and not sign tpp where, they're going to take all the jobs out of this country. but my plan is renegotiate
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nafta, make it good or get out of nafta. i want to bring our jobs back, want to make it very hard for companies to leave our country because they're fleeing. charles: a.b. without a doubt in the primaries, this was a winning issue for donald trump. how do you think it was going to play out in the general election? >> this is donald trump's best issue in the general election. as you know, this is now a bipartisan sentiment. we are turning into a anti-trade country here in both the democrat and republican party. look at bernie sanders supporters, so strongly against tpp. hillary clinton flip-flopping on the tpp and now looking at this discussion of whether or not president obama can have it be brought up by the congress in december in the lame-duck session, the senate majority leader says no, the minority leader, the democrat says no. hillary clinton will be under fierce pressure if she wins the election to continue opposition of tpp, donald trump will be sure of, that so will bernie sanders and donald trump will not allow it to be brought up if he wins.
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this is an issue that is completely turned on its head, it used to be all the bipartisan leaders from paul ryan to john boehner to president clinton, president obama, hillary clinton, everybody was for the trade agreements and barack obama even ran on renegotiating nafta but once he got in he was much more of a free trader and turned his back on that. this has turned in both parties and has cross-party appeal. charles: to your point, president obama said some of the past deals saw people lose their jobs, saw workers lose leverage and also saw the flight of mobile capital. a.b., thank you very much, appreciate it. >> thank you. charles: the dow on track for biggest losing streak of a year, down seven days in a rowsa the u.s. economy continues to struggle. want to take a look at debt, charlie gasparino says trump and clinton could talk about
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the debt issue. i haven't heard much from either one per se on it. >> it's not just debt, it's trade, you see donald is fiercely anti-free trade. charles: wait a minute, hold on. would you say anti-free trade or anti-bad trade deals. >> you really think nafta is a bad deal? charles: listen to a sound bite he said he would like to redo nafta, renegotiate. >> any time someone introduce donald trump and he goes on trade, the first question, i don't know what stuart asked him, this is what i would ask him. what is your evidence nafta is costing jobs? give me the one survey nafta is costing jobs. >> he'll say he's gone to the countryside and seen all the -- >> where is the survey that is nafta related. charles: we've had a lot of manufacturing jobs that have vanished. >> is that nafta? charles: why is wall street, why is this such a linchpin for wall street. >> here's what i would say, wall street is largely out of the election. we're not talking about hedge
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funds. charles: that's the 48 million. >> we reported that first on your show last week, the hedge funds and the private equity guys. the banks on the other hand, they are on the side lines the, marginally more money to hillary but on the sidelines. what is going to change that? when you talk to people, what will change that is the populist message changing both parties. if hillary clinton becomes much more centrist on issues like trade, the debt. charles: you want one of the candidates to say i'm for free trade? >> yeah. not me, that's what they want, i don't care. what i'm telling you is if one of the candidates do that, not just free trade but on meat and potato deficit, on the deficit, you could see a potential huge pool of cash coming your way towards the end of the year, that's a big thing. and that could help put them over the top with attack ads. if we don't see them. if the populist message from what i understand from the banks remains the same, then i think wall street will stay and
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it will be the first time they've done this, stay out of election in a major way. you won't see executives at the firms give into either candidate. if she starts moving centrist and showing signs of doing that to pick off republicans who are uneasy with a lot of stuff that donald says particularly about trade but other issues as well. if she starts moving center identify the some of the issues, you know, you could see the money flowing away. i think jamie dimon did an interview with one of our contributors, the ceo of chase. he was careful not to attack donald trump. they're saying they don't know where they're going with the money or where this election is going. charles: do you think jamie dime onld be a donald trump supporter? >> no! >> but the fact he didn't raise issues, jamie dimon was one of the few guys i remember on wall street, during the 2008 campaign, he actually gave a
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pro-immigration speech during the campaign. he said why immigration is great. i'm not saying i agree with you. i'm saying he said that. for him not to go after trump -- charles: on the money issue, hillary clinton raised $90 million last month. 63 of it went to her directly, to the democratic party. donald trump is in the mid 30s. >> right. charles: it will be officially announced in the next 24 hours. that's a pretty big haul. >> here's the thing. charles: by the way, they had a record-breaking day just a couple days ago online. >> who? charles: hillary clinton did. she's getting a bunch of money. >> donald's people are saying they're raising money, too. here's the interesting thing where the money favors clinton. a lot of the money is going directly to her, not the dnc. she has more control. when the dnc or rnc gets the money, it's for party building purposes. candidate gets some but dispersed elsewhere. donald's money is not that efficient. the second thing is hillary
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clinton had an established fund-raising organization for a long time. from what i understand, she, of every dollar she raises she gets to keep like 80 cents, 90 cents of that dollar. it doesn't go to the infrastructure to pay for it. for every dollar donald gets, he gets to keep half. goes to the people making the calls, he's buying the lists from. he's got a very inefficient fund-raising system. charles: isn't that where the party is supposed to help him? don't they have lists already? maybe it would help if they had mitt romney's list, the koch brothers. >> the koch brothers are out of it. charles: 300 million bucks. >> you want them to give to your soft money, which you can use almost directly, though the soft money pacs are outside the direct campaign. he's got a really fund-raising problem. he'll say he doesn't need it, he can tweet up a storm. after both conventions, hillary clinton is leading in the polls right now. charles: yeah, she is.
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her bounce is just fresh. >> right. charles: charlie gasparino, thanks a lot. the dow, s&p and nasdaq at biggest decline since june. earlier donald trump telling fbn now isn't the time to be in stocks. here's why. >> right now, would you say put your 401(k) money into stocks? >> no, i don't like a lot of things that i see. i don't like a lot of the signs that i'm seeing. i don't like what's happening with immigration policies. look, interest rates are artificially low. if interest rates ever seek a natural level, which obviously would be much higher than they are right now. you have very scary scenarios out there. charles: the former wells fargo ceo whether donald trump is right. thank you for joining us. should we be getting out the market? >> well, i think the market is fully valued. there are certainly stocks within the market that may not be, but i think all the asset classes are actually, somewhere
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overvalued like bonds, and the stock market is fully valued and i don't think you should be adding to your -- any of your asset classes at the moment. charles: for the average person, doesn't it get tricky when they hear someone as sophisticated as you or donald trump say get in right now, get out right now and -- in other words, is it smarter to stay the course or wide to get out when you anticipate something going wrong and maybe be wrong? we know a record amount of people sold in march of 2009 when they should have been buying? >> i don't think you get completely out of the market. personally in the last two months, i have simply sold stocks that i thought were overvalued and kept it in cash, and for when the stock market goes down i will use the cash, but i am still very much into the market. understand there's no reason to increase your exposure and if you do think that there are stocks or whatever assets you have that are overvalued, yes, i would be selling those,
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keeping cash, and have that available should the asset classes fall. charles: how worried are you about a spike in interest rates? we have a lot of people say well the market is up because nothing sells working out when, in fact, the majority of money fleeing other assets are going to bonds. last month, $43 billion into etf's that cover bonds, the most since 2014, does that suggest that interest rates are relatively low for as far as the eye can see? >> well, it's certainly possible, i would bet a large portion of that 43 billion is from foreign markets where there are negative interest rates. i don't know how much of that is really domestic. i certainly would not be putting my money into bonds. because the bond rates are being manipulated by the government. this is not a free market by any means, and the government and the federal reserve can change their mind at any time. if it's based on fundamentals, have you ability to anticipate whether it's over, under or
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whatever, when you're dealing with bureaucrats who can change their minds at any time, it's too risky to be in. i would not be in the bond market. charles: on that note, we've had better signs, signs consumers are spending and signs that maybe wages are going to go up. we get the jobs report on friday. let's say it's 200,000 which would be above the estimates. does that put pressure on the feds to act now or keep powder dry because they don't want to act before the election? >> i think if you get job reports in july and august anywhere close to 200,000, i think it is quite possible they move in september. they may not because they tend to be overly cautious. put it this way, they should move in september, if that is the case, and then they have the opportunity to see what happens after that and decide whether to do something in december. and most people think they're going to do december anyways. you might as well do one in september and gives you the
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option to do another one or stay the course. charles: we talked about the -- >> you get 200,000, you'll see a rate increase, i hope. charles: you get the bureaucrats that change their minds on a whim. janet yellen and company raised rates last year, we started off with the worst stock market in history of mankind and looks like janet yellen blinked. does she have the ability to go ahead and actually pull the trigger on the small rate increase that could taint the market, influence the election and have people crying at her? >> that's always a possibility. let's show you what really happened last year. everyone thought because of the data she should have done it in september. she didn't for whatever reason. i think it was the chinese stock market or whatsoever excuse she had. the market tanked, the dollar tanked, everyone was so shocked by her not moving when she says she was data dependent. she had to make up for the mistakes she made in september.
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it's data dependent, she gets to decide what the data is saying, and most people don't agree with her assessment of what the data is. charles: the infamous dashboard, sometimes the same light that blinks green one day is red the next. love your insight, it's great, unbiased and really smart stuff, and we appreciate. >> thanks, charles. charles: thanks a lot. the dow near session lose on track for seven straight days of the losses, that's ahead of the big jobs report friday. we're going to break down the market a little more when we come back. you didn't read your car insurance policy.
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consumer spending and more money including earnings today, results from procter & gamble, cvs and sodastream, continuous personal spending which continues to outpace incomes. trend goes back to april, and i'm wondering if it's a sign of confidence over people throwing in the towel. if the trends reflect consumer confidence, you have to wonder how sustainable it is. consumers spent 100% more than disposable income, consequently savings rates continue to come down. consumers must spend, we know that, to move the economic needle but also need a big wage increase number on friday to add credibility to the current trend. lindsey joins me right now. lindsey, what do you think, the jobs report, we're going to need to see something powerful to back up this notion that consumers are willing to spend more money now? >> exactly what we're hoping for, unfortunately it's not what we're likely to see.
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we saw significant weakness in may, july is likely to split the difference around the trend pays of 1, 1.50. remember, the trend, that declining trend in the pace of job creation was well established. at the start of the year we were at 300,000, slowed to 200,000, and right now sitting at 150,000. the may headline was surprising, the declining trend has been very much established for the past six months of the year. charles: just speaking with dick kovacevich from wells fargo, if we get 200,000 back to back months that would be more than enough for the fed to raise rates. do you agree with that? >> it will be defendant for the fed to justify a second rate increase any time soon. they were looking for rebound in overall growth. forget a jobs report number, they were looking for rebound in gdp in the second quarter well above 2%, that came in
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just over 1%. so we take that coupled with a very slow start out of the gate january to march and talking about average growth rate of 1% across the first six months of the year. that certainly does not justify any further removal of accommodation. charles: lindsey, thank you very much. appreciate it. >> thank you. charles: president obama calling donald trump unfit, and trump has his own target, right after this. >> she has bad relationships with people, like putin. she wants to play the tough one. she's not tough. she's not tough. i know tough people. she's not tough. do you think she looks presidential? i don't think so.
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. . . . >> she will let syrian refugees come in. we don't know if they're isis. all time great trojan horse. they will come in by thousands. she wants 550% more people, think of it, 550% more people coming in from that region than
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are coming in under barack obama! and you know, they are put all over the country. you don't even know where the hell they are. charles: donald trump hitting hillary clinton on refugees. we're hearing 8,000 syrians living in the united states have been granted temporary amnesty by homeland security. to republican congressman ron desantis. congressman, you say this is a very dangerous idea? >> well, good afternoon, charles. yeah, it is interesting, the tps designation put down by jeh johnson actually applies to people who came illegally from syria yesterday. it is not just the people who had been here. so we're already having basically an impossible task of trying to vet the refugees who are going through the legal process. someone that shows up illegally last week, we have no idea where that individual is from. and you really can't check any of their back grounds. so this presents a threat to the security of the country. charles: you know, i know you
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can't explain their thinking but, i think i read in an 18 months extension. whether they're to your point here illegally or whatnot, what drives this? is this idealogical thing? did they say anything in press release to justify this. >> i think it is partly ideological. i think our country is refuge for people coming, rightfully so in many instances. look what has happened in europe. you had a mass migration and a lot of problems developed as a result of that because as the minister from lebanon says, he thinks it is at least 2 or 3% of the ref fee flow is affiliated with the islamic state or al qaeda-like groups. that is a major, major threat to western societies, if you're importing them, even many mean no harm, even a small percentage can do a lot of damage. charles: we've seen damage a
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handful of people have done to the country over the last few years and western world. congressman desantis, hillary clinton take the same president obama program and essentially put it on steroids. i haven't heard her saying enhanced vetting. they seem pretty pleased with the vetting process already. >> i think she is even weaker than president obama has been with respect to border security, with respect to vetting people coming in. her basic thing is, she doesn't want to stock anybody, even if they're coming illegally unless they get convicted of serious crimes. that will end up being a magnet. i don't think that the republicans have done good enough job of sketching out just how radical her posture is. she is going much further than barack obama has bonn in this respect. charles: congressman, donald trump responding to president obama calling him unfit for the presidency saying quote, hillary clinton has proven herself unfit to serve in any government office. i think that is sweet music to a
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lot of republicans ears in a sense that he is didn't go after president obama. he is focused on his opponent, who by the way, has had a lot of missteps, particularly of late. >> well, here's the deal, charles. the american people get to determine who they think is fit for president. i can testimony you this. if either you, me or any of your viewers handled top secret information the way that secretary clinton has been found to have handled it, they would not be eligible for security clearance or a position in the government. the state department, in the fbi, in the military. that is just a fact. so she has been treated differently where there is no consequences for that. anybody who has ever been in those positions recognizes once you've been found extremely careless with our nation's most sensitive secrets, you are not then further entrusted with those secrets going forward. charles: that rings loud and clear. representative desantis, thank you very much. really appreciate night thanks. charles: donald trump talking up
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a big plan for our country's infrastructure right here on fox business network. what his big plan is to pay for it is really intriguing. we're going to discuss it next.
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charles: donald trump making news right here on fbn the gop nominee telling stuart varney we need to rebuild our infrastructure and pay for it with private infrastructure bonds, or fund. former reagan economic advisor
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diana furchtgott-roth is with us. diana, trump wants bonds to pay for the work which i think he is saying would be about $500 billion plus. you think it will work? >> well i think it will work a lot more than having politicians take one trillion dollars and dole it out among their favorite causes. one problem with infrastructure spending that we've had so far, is that these senators and congressmen decide where it is going to go. for example, we have the highway trust fund. it doesn't have local control. 25% of it has to be spent on mass transit. which is fine maybe if you're in new york or washington, d.c., but alabama, nebraska, nevada, they don't need that much on mass transit. so it is far better under private control and local control. so people can decide themselves what are the projects that they need. charles: right. what do you think though, the political appetite would be? we're talking a trillion dollars. i don't think the american
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public has that kind of cash but there are private entities out there, particularly making the yield a little better than what you're getting around the world which is negative in some places? would you have to open it up maybe to the chinese investors? you know, i think depending on the amount of money, it gets a lot mover complicated, but idea is not to tax taxpayers, right? >> right and i think the thing to do is focus on local control and also to have some of the regulations that are preventing infrastructure investment, and making it more expensive rolled back. for example, large government funded projects have to be under project labor agreements which means they have to be built entirely with union labor. and that raises the cost. there are environmental regulations that raise the cost. what we need to do is channel private funds into these infrastructure projects. that is a lot easier now with easy pass, other kinds of toll systems that make it easier for private companies to recoup their investment.
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in the olden days when you had people going through toll booths that was practically impossible. there is lot of scope now allowing private companies to invest in infrastructure and being able to recoup the rewards through tolls. charles: also, warren buffett hitting donald trump on his business record. trump, hit him back right here on fbn. take a listen. >> you will learn a whole lot more about donald trump if he produces his income tax returns. i would be delighted to meet him any place, anytime, between now and election. i will bring my tax return. he can bring his tax return. nobody is going to arrest us. >> warren buffett has been a fan of, he is a democrat. he has been a hillary fan for a long time. i think that is fine. hillary is a disaster. charles: diana, you have been a critic of warren buffett. what are your thoughts on the latest salvo from him? >> look, i think it is really amazing, these two billionaires,
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clinton and buffett, attacking trump for his business practices when warren buffett has had problems with his own, with clayton homes, for example, the mobile home enterprise, that he is running. but, we could see that when mitt romney unveiled his tax returns, even though they were perfectly legal, that all of sudden focused all the attention on those tax returns, to the detriment of policy issues. there are so many important policy issues such as low gdp number for the second quarter, that came out last friday. that showed that private and public investment were at lows, lows, negative 9%, for example. that is something that needs to be fixed. with lower capital-gains tax, not the "buffett rule," that hillary clinton wants to implement, that will raise taxes on capital to 30%,. charles: what do you make though? warren buffett has the folksy thing going for him. >> he does, yes. charles: a lot of people think it is a schtick.
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because to your point, he fights tooth and nail for every little penny including fighting a tax war with the irs over his netjets fleet. do you think you have any sort of influence? he is third billionaire in a week come out to sort of do hillary clinton's bidding? >> look, all these billionaires do tend to be in favor of hillary clinton. what's important is, the working class man. the man in the street, all these people in ohio and pennsylvania, all across the south. all across the midwest. who are they for? and they can see that we need more economic growth, not something that is just tilted in favor of the better off. so, i think that they're the kinds ever people who will come up for donald trump. that is far more important than endorsements from billionaires. charles: diana, thank you very much. really appreciate it. >> thank you. charles: cdc is warning pregnant women to travel in a neighborhood in miami where zika spread faster than expected.
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the mayor of miami-dade county joins us next. ♪ in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.
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reporter: i am jeff flock on on the floor of cme with your fox business brief. oil well below $40. last trade is 39.39. too much supply. broke below 40 about 11:30 today. it has not looked back.
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could be more trouble to come. good point of lower oil prices mean generally lower gas prices. aaa fuel gauge, $2.12 for gallon of regular. it was 2.15 last week. 2.27 last month. last year, 2.65. good news there. hedge funds increasing their shorts. that is to say their bets that oil goes down even further, increasing those bets big. that is your fox business brief. i'm jeff flock in chicago. more charles payne.
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charles: zika is a concern in rio. so is isis. ashley webster on security, bolstered in brazil. is it enough, ashley? >> that is a good question, charles. look, we know the rio olympics and olympics is a prime target for jihadists. already the word and signal gone out encouraging would-be terrorists to focus on brazil and the 2016 olympics which get underway by the end the week. islamic state is translating a lot of its propaganda into portuguese, native language of brazil. they're encouraging lone wolves to move to brazil. in the propaganda says it is easy to get tickets and visas. you can move around freely, they say. they're asking and trying to recruit portuguese speakers.
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they're trying to create a terror, network, charles, in brazil. they also give suggestions for targets which include u.s., uk, french and israeli tourists. they're also suggesting to drop poison and medications into food and drinks, the use of small toy drones for small explosives as well. i mean this is very big talk but as we've seen in recent weeks and months, scale and occurrence of terrorist attacks in europe is certainly increasing. authorities in brazil taking it very, very carefully, but the question is, to your original point, is brazil ready, charles? that is a very good question. we know counterterrorism units from the united states are helping authorities in brazil. in particular, chemical and biological warfare but there are many concerns and rightly some. charles: yeah, i mean, probably most amazing target conceivable for terrorists. reporter: yes. charles: we hope it goes off without a hitch.
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thank you, ashley. >> sure, charles. charles: officials trying to get a handle on zika here in america, more specifically the white house sending emergency team to the miami area and head of centers of disease control that the spread is catching officials by surprise. >> we're looking at the situation closely every day and we found over the weekend and there were more mosquitoes we had hoped than we found out more cases there. is one square mile area, which is around the 1500-meter area where we're advising pregnant women not to travel. charles: miami-dade county mayor carlos jimenez on efforts to control the virus. mayor, thanks for joining us. are you comfortable with the limited amount of space? i know the mosquitoes only travel a few hundred yards over a lifetime, but should there be more urgency and even greater swath of land covered on this? >> well, we're covering a one
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square mile area. i just gave approval to do 10 area miles of adult aerial spraying and two square miles of larvaside spraying and we'll repeat that four times. the state of florida health department has been testing people around the area. the good news, yesterday's batch of test, urine tests came back negative. so we are continuing to focus in on wynnewood. wynnewood is about a one square mile area of 2400 square miles here in miami-dade county. and so we hope that is where it stays and we can eradicate it pretty quickly. we have to continue our guard up. we're giving same message to all of our residents. basically, going outside, especially during the early morning and early evening hours when these mosquitos are active, wear long clothing and use some
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mosquito repellant. they don't bite you. if you're not bite you will not spread the disease or catch the disease. areas where most of our tourists go in miami-dade county are safe. the beaches is, a good ways away. it has prevailing breezes that keeps mosquitoes away. so our big tourist destinations are fairly safe. again the last thing, zika really only affects a small percentage of people. most people that actually get bit and have the disease or catch the virus don't even know they had it. charles: to a degree that is also one of the big problems with it as well. we've seen -- >> right. charles: exponential spread of zika in puerto rico. of course i know that the measures you guys are taking are probably have been swifter and more determined. but, do you know how this even happened in this particular neighborhood and how do we make sure we prevent it from happening again? >> well, you know, in this particular neighborhood, a lot of people that live in and around that neighborhood
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actually were born somewhere else. there is a big puerto rican population there. there is brazilians, argentinians, south americans, where this disease is prevalent. we know a lot of our residents travel back and forth to their homeland, back and forth back there. then they come back to miami. i'm sure some of them picked up zika on the way, while they were there and have it here. so the reason that we have so many cases of travel-related zika in miami is that we have 60% of the people in miami-dade were born somewhere else. a lot of them travel back and forth between the native countries and miami. that is how it happened. we think that somebody, you know, must have gotten bitten and spread it around for couple other people. i think we have 12 people actually determined to be, the disease was actually born here in miami-dade. charles: issue with mosquitoes, you talked about the spraying. reports i am seeing now, there are signs this one particular species of mosquito may be
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building up immune system to the sprays that we're using right now. yesterday i want to share this with you because -- >> before you, go on that, i think that, i don't believe that entirely accurate, the chemicals and sprays we're using have deemed to be effective. but again we're also asking our residents to be part of the solution which they see standing water, go ahead and drain it, cover it because that is the breeding ground. charles: sure. >> so we have had this aggressive campaign of educating our residents here what they need to do to reduce the mosquito population. charles: right. >> we've been aggressively going out and eradicating as much of the mosquitoes that we can. they're hardly little species. they are hard to get to. mosquitoes have been around millions of years. there is reason for that. they are adaptive and we're trying to get rid of them. charles: mayor, thank you for taking the time out. >> thank you very much. charles: new york city police chief, big news here, stepping
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down. what that means for the financial capital of the world and our fight against isis next. you didn't read your car insurance policy.
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>> as we go forward and face crises of race in america, crime in america, fear of terrorism, in midst of turmoil of this presidential election there is no police department in america that would be better prepared to face all that we are going to have to face in the future. charles: that is new york city police commissioner william bratton, announces that he will resign in september and move on to the private sector. james o'neill will be the next commissioner. former nypd inspector jose cordero, what it means for new york city and our fight against isis. thanks for joining us.
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your initial reaction to this. because, new york city is sort of epicenter here and we've got a lot of kudos, particularly under bratton for our fight against isis in this particular town. >> pretty much we knew it was coming. i think the police commissioner made a statement he wouldn't stay for a second administration. with regards to impact on terrorism and counterterrorism, nypd is very well-equipped and very well-trained and has professional staff below the police commissioner that can carry out the mission. bratton was instrumental in developing counterterrorism teams we deployed recently in light of paris. i don't think the that will be affected. charles: murder rate down 27% year-over-year. rape down 14%. robbery down 6%, burglaries down 18%. that is pretty good track record. he kept the city pretty much on even keel.
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>> that is good track record. not exactly seeing mirrored across the country. many cities see spike in crime. delicate balancing act. on one hand you are doing what you are sworn to doing as police officer. on other hand dealing with forces that at play today make the job very challenging to say the least. charles: give me a quick example. >> trying to again, if you look at today's environment. we have police officers, we're the bad guys. bad guys who are the victims and we have true victims of crime truly don't matter. charles: right. >> in ice of what is going on through the this country. very difficult time. balancing act has to be made by a lot of chiefs and chief executives. charles: jose, thank you very much, really appreciate it. dow on track for the longest losing streak of the year. we'll be right back. ♪
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charles: the dow, s&p and nasdaq seeing their biggest decline
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since june. the most important economic release will have major implications of the market and politics. i will dig into deep into all of this, trish reagan will take you through the next hour. trish: the markets are off 145. after coloring hillary clinton the devil and saying the election in november is rigged. this is president obama turning a press conference with the prime minister of singapore on the transpacific trade deal into a political attack ad on donald trump. he is saying donald trump has no decency. what was that we just saw? welcome to "the intelligence report". the president going after trump, in an extraordinary attack. >> he doesn't appear to have basic knowledge around critical issues. he is woefully unp

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