tv Making Money With Charles Payne FOX Business August 6, 2016 6:00pm-7:01pm EDT
remains at a four-decade low. charles: hillary clinton decide to take a few questions from the media at a gathering of black and hispanics. trump announcing his new economic advisory council. he's catching flack for an all-male team. speaking of the economy we had a huge jobs number today. the july report was big. and i told you that would happen
this week. if you are in a stock market the only way the market would go higher is with good news. today's jobs report far exceeding the expectations, especially adding 255,000 jobs. in political term hillary clinton probably cheering. here's the bad news, labor participation still hat an all-time low. >> we have a big problem. the real unemployment rate is probably closer to 20%. people look for jobs, they can't find them, and they are statistically taken off, then
you have these phoney numbers. charles: we have got the good, the bad and some ugly highlights. we want to go over them with eric schaeffer and mark, overall your assessment. >> i think it's amazing. it's an amazing report. after 8 years the fact that we are growing is pretty incredible. unfortunately for trump fans this isn't the way he want things framed. it's a good report for those considered to be uneducated. those who maybe have completed high school. we are seeing people are actually hiring them.
which is good which is against of what people supportive of trump want. it's a mixed bag for republicans, but for the country, it's a great report overall. charles: i hesitate to use the word great. it obvious hi came in better than expected. it's bifurcated. those lower-end jobs eric sees, i didn't see that in today's report. >> hiring was better than expected. if you look at wage growth, that was better than expected. the labor force participation rate i low, but it ticked up on the month. a lot of reasons it's lower is for deputy graphic reasons. the real unemployment rate is not 20%. the real unemployment rate is probably around 10%.
the bureau of labor statistics put out that measure 9.7%. but it's falling from a high of 17%. we made a great amount of progress. charles: i remember when fran was 10% and we used to laugh at them. people working part time, 97,000 additional. people want a better job. 27 weeks or longer ticked up for a third straight month. these are formerly hard-working americans. they want to work, they don't want to be on the dole. maybe their job does the exist anymore. near 10%, i don't know if at 10% we should become accustoms or should celebrate that. >> given where it is, i have not
been using quite superlatives my co-panel has been using. we have seen a hiring stop in may. we are 7 years into this recovery. i think this is a sustaining an. this late in the process is good news. charles: the recovery has bee been.1%, the lowest of any president. how do you reconcile that. it's a long recould are you and the weakest one we have ever had. >> it's after one of the most astounding negative experiences in american history. that is a fact. it was a near death experience for the u.s. economy. >> lnl 6 million people working part-time jobs.
a lot of people who have college degrees. beneath the surface when we get into the nitty-gritty on the numbers, there is word for improvement. >> we can always get better. but you have to consider where we came from. this was a horrible time back in 2008, 2009. and it's not the best reconsider are you overall. but we are still growing. and yes there are many people -- and i think largely because of the way the economy on a macro level has changed. people are having to do multiple jobs. it's a didn't economy. the internet made that a part of why this is happening. but i think we are moving in the right direction. not perfect but certainly a lot better than anyone would expect at this time. charles: i remember we started to celebrate the green chutes.
then part of this is the expectation game we set ourselves up for. there was one month where ronald reagan had a million jobs. >> i think there are obstacles. but i think what happened this year, if you think of the start of the year, january there were analysts sending out reports that investors should sell everything because we were on the cusp of a recession. we heard that again in may and that turned out to be overhypes and overdone. would i like the economy to grow better? sure. but i don't think we are at the end of the cycle. i might point to 1986 or maybe 1995-96. i believe that temperatures where we perhaps are in the cycle. we are 7 years in with more room to go. those folks working part time that want full time. they will be drawn back into the labor force as this moves along.
we look back a year or so from now things will look even better. charles: entrepreneurship near an all-time low. a lot of things that usually come with a robust optimistic economy haven't been there. and i think a lot of it has to do with the idea that people feel like, even if you had a job, lost it and got it back. you are not making the same kind of money you were making. if we are at this long recovery, just from an historical point of view, how much longer can it go. fit ends here, what kind of grade would you give him? >> probably a "b" or b-." these are unprecedented in our history.
we love our smart phones but we are also ruining somebody's job by buying the movie ticket with a phone. charles: i saw plans for the tesla factory. it's all robots. that's why you get pushback. average person who doesn't have a job who used to work in a factory. what do you tell someone like that. you are giving me great superlatives yet we have millions of americans looking for a job. >> technology is good. we like innovation. we don't want to set the clock back on innovation. charles: this time around, if 47% of the jobs are taken by robots and data gathering mechanisms, those same folks will find another job.
someone at a machine factory stamping out tools will find another job. >> we need a functioning congress and president to work together. charles: you you brought up donald trump's name. maybe it's a coincidence. but we do know when the market is up within 0 days of the election the person who is in power usually is re-elected. where do you see the impact of this report? >> well, look. i think he's going to have to change the subject. focusing on the economy overall, i don't think is as great an argument as it was. he can talk about security, he's obviously made hillary clinton and making it a referendum on her. but i don't think this is the ticket for him.
i think if he tries to push the economy in leave it all this background high drums going off about how good it is across the board, i don't see how he's going to get much traction. traction. charles: jeffrey we'll go live to steel workers in indiana who aren't singing the same tune as you guys. politically where do you see the economy going? >> i think you can look at the misery index. unemployment rate and inflation rate. when that's as low as it is, that phase the incumbent party. we don't need a white knight to sweep in and make america great again. america is already great. a lot of things we worry about like machines replacing jobs, that's been going on. manufacturing employment peaked in 1939.
manufacturing output now is at an all-time record high. charles: the jobs have come down from 197919 million to 12 million. you have. we have a shock development. hillary clinton answered a question for the media for the first time this year. she was asked about the dishonest answer to fox news's chris wallace. we have fact checking coming in on that. we'll tell you all about it next. ♪ [announcer] is it a force of nature?
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charles: it's been 245 days since hillary clinton has held an official press conference. but she answered a few questions at the national association of black and hispanic journalists. while answering questions moderated by msnby and telemundo, she did have to face up to some questions. >> director comey said my answers were truthful. i may have short-circuited and for that i will try to clarify because i think chris you'll has and i were probably talk past each other. because of course he could only talk to what i told the f.b.i., and i appreciated that. i acknowledged repeatedly that using two email accounts was a
mistake. charles: to the question, was she honest? the rnc released statement that you can boil down to one word. no. she was talking in to a mental pretzel i took an aspirin for the first time in two years. >> i think she did great today. those were good questions and tough questions. charles: i thought she made things worse. >> she got a tough question on that topic and i think she handled it just fine. the reality is there are 30,000 emails you are talking about. there were three that had vague markings that the f.b.i. director james comey said no one could be expected to know were classified and she was truth
truthful in her response to him. this is something that has been happening to folks like konds pleasa rice -- folks like condoleezza rice and colin powell. charles: she didn't do what you just said. she went more in depth and tried to weave a tangled web. i think she dug the hole deeper. >> it boils down to the fact she hasn't been honest with us. but there is an irony in her addressing these journalists. she provided -- preside over a
state department that wanted to take 75 years to release the emails from aides. i think wikileaks is terrifying her. charles: now she has had two or three opportunities since that chris wallace interview to fess up and she just dug herself in a bigger hole. >> she probably thought it would be an easier audience because you think buy default we have some cover. we have economic and benefit pro less as well as immigration. i'm glad our journalists stood up for themselves and asked about the emails, immigration, do you have any black friends. i give you doze journalists that demonstrated we are not single minded voters. charles: what about the pandering with the latino question.
it felt like the straight we are all in this together kind of pandering. >> once again she is putting out a tone and a voice that is for to us evaluate. a lot of people assume people default as democrats. but 15% of latinos are independent. while there is a lot of rhetoric on the other side pushing away latinos. but those comments show we are not a single-issue group. >> i think telemundo did a great job of asking the tough question on immigration, what are you going to deliver. i thought her answer was so-so. charles. charles: dan, this is not going to go away.
while you may be pleased with it, the majority of americans think she is lying. >> i don't think it's going away. i think the question will continue to be asked. you are right about that. i think she should address it consistently and strongly. she said she made a mistake. but i think the reason it's going to be an issue for the rest of this cycle is what your last segment and last panel talked about. the economic argument is not going to land quite as well. it's getting harder and harder every day donald trump exhibits erratic behaviors. charles: the unfavorabilities are high for both sides. the fallouts from the $400 million payment to iran continues including a some consider a controversial statement from a member of
charles: the obama administration facing significant backlash after news leaked about $400 million being releas for the whose tables. one statement read when deals like this are cut, one has to truly wonder whether the president has any idea what he's doing or knows exactly what he's doing and is playing for some other team. the implications are president obama may have knowingly aided the enemy? >> either he doesn't know what
he's doing, or his priorities are polic -- are misplaced. the negotiation process. the deal itself. the purchase of heavy water. this negotiated release our four american whose takens. he wants the american public to believe that providing $400 million cash at the say exact home releasing four american whose taken prisoners is a coincidence. he will put 50 troops into syria in the middle of the hottest spot in the globe and tell everybody they not here on a combat mission. what happening is the president is prioritizing his legacy.
a lot of his decisions are not in the best interest of foreign policy. charles: you are not going so far to say he's committing treason? >> i'm not suggesting that. his decisions show he doesn't know what he's doing. he was saying june 0 as a deadline -- june 30 was a deadline. but we woke up july 1 and there was no deal. the administration laid out all these deadlines, but then they were never crossed. it's possible he doesn't know how to negotiate a good deal. if he knows what he's doing -- charles: there i no doubt was clear to everyone he wanted this deal done. moments ago the rnc took hillary clinton's press conference and turned it around and they have a
new ad. we have an exclusive on it.
>> hillary clinton put our national security at risk and she is still lying. >> director comey said my answers were truthful. >> even "the washington post" says hillary clinton lied, comparing her to pinocchio. >> i may have short-circuited. >> fearless, reckless, crooked. putting her interests ahead of national security. don't let hillary clinton do it again. charles: this is similar to what you
are describing with barack obama. whatever their ultimate goal is. i think people think he always wanted to be president of the world. he wanted the affection of the whole world. that was a pretty slick ad. they put it out quickly. do you like what you just saw? >> i think it will be an effective ad for those still trying to decide who they are going to vote for. but when we talk about character, so much of the rest
of the media love to attack donald trump on the character piece and in their questions will give a free pass on hillary clinton. but so many of the voters know hillary clinton and don't trust her. for those undecided voters prioritizing national security. charles: moments ago the a.p. shot a lot of holes in this semi press conference she gave out today. how are you feeling in terms of the momentum? it was a tough week. do you think thing will turn around and start to move in the other direction? >> it's up to the candidate a lot. a lot of what happens is clearly out of donald trump and hillary clinton's control. but what he can control, we all
have thoughts in our head. thanksgiving dinner, our uncle says something. it's important for donald trump to have the opportunity to defend himself on policy when there is a substantive attack made by a gold star family. how, there is no need to question why the woman saying the mother is silent. keep your thoughts to yourself. defend yourself on policy and move on. charles: coming up, it's the economy, stupid. it's an old cliche'. but voters care about it and it's in donald trump's wheel house. will he capitalize on it? you both have a perfect driving record. perfect. no tickets, no accidents... that is until one of you clips a food truck ruining your perfect record. yeah. now you would think your insurance company would cut you some slack, right? no, your insurance rates go through the roof.
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>> we would face an unprecedented crisis, and you are right, they would take away people's jobs. they are take away americans' jobs. charles: donald trump will be delivering what his campaign is billing as a major economic speech monday. part of a pivot towards the phoning us on the economy. it will include the creation of an economic advisory council. the economy is always the most important issue in a presidential election. a lot of people are saying it's
a smart move. the timing is right. what about the policies. beginngina louden is back with . eric? >> it will be the opposite of what they said about hillary clinton's plan. he laid out his economic team today. i think you will see a pro-growth agenda starting monday. and he's going to give it back to the two issues that matter most to the americans. i think you are going to see him reshift, go back to those two issues and capitalize on it. charles: his initial economic plan, there were concerns about it, particularly the deficit part of it. you mentioned hillary clinton, according to the american action
committee, $2.2 trillion deficit and $3 trillion in taxes. do you think we'll see a deficit reduction in donald trump's plan? >> i do. that's what americans care about. reducing the deficit and increasing our jobs. just like you said in your opening. we have jobs going overseas. we are outsource our jobs. hillary clinton is going to continue the status quo of the obama administration and that's job deletion, not job growth. >> there is no one from silicon valley on there. no one from labor which would have been a smart move. a lot of union folks want to vote for donald trump. so what do you make of this? it's heavy with the real estate guys and hedge funds managers. >> this is the thing. donald trump's list reads like a
who's who out of "forbes" magazine. it's people who have created jobs and done that without using taxpayer money. you look at $19 trillion debt obama and hillary accumulated and they teed his up with donald trump to hit a complete home run monday. if you take the numbers they give you, if you have a drug that kills 90% of the people to it's on, that's not a success. you can't use this to kinds of numbers and fool the american people anymore. one more thing. black families have been hit hard. i haven't heard hillary address this whatsoever. the numbers for participation employment under obama for black families has staggered around 60%. their wealth accumulation is down. homeownership is down. charles: she did remark today
that she has a lot of black friends. lily, you are a successful business woman, what are you hoping for? >> i want to make sure those of us who are investing and creating jobs are not penalized for success. many times that's what these policies suggest. by taxing those that are millionaires. but that sounds like a business number but a lot of small business owners in america fit that threshold and will be penalized. we cannot continue to put burdens on those creating the jobs. we have got to build incentives to help small business growth. charles: looking past the numbers and see how an everyday working american feels about the economy. we'll go live to indiana to talk to some real folks next.
you talk about the labor participation rate. a lot of people have given up look for a job. the labor participation rate now is as low as it has been since before jimmy carter took office. it sort of peaked during the clinton years and has been on decline ever since, particularly in places like this where people have just said i can't find a job, i can't make it. charles: the manufacturing sector has always been a symbol for indiana. it's showing some signs of coming back. i see where wages are up from $22.50 an hour to $28. do we give most of that credit to the governor? >> well, in a town like this, no, they give the credit to the president. certainly governor pence has done a lot in the state in terms
of balancing budget. but in terms of creating jobs, people give credit to president obama. they blame the big companies. a guy earlier today points out the steel problem. listen to what he told us. >> the milling went down. it went down. everything is going down. it's going down to almost nothing. reporter: this is a state donald trump hopes to make his because of those steel workers out of a job. but he's got a row to who in places like -- a row to hoe particularly in places like gary. charles: statewide donald trump and mike pence are doing well. gary was in trouble when steel
was going well. gary, indiana, i don't know if we should use it as a proxy for the whole state. reporter: no, i agree. this is particularly hard hit, i agree. charles: jeff flock, thank you very much. appreciate it. coming up, market reaction to the big jobs report. i'll give you my 2 cents. we had new highs. can we go higher? we'll be right back. every year, the amount of data your enterprise uses goes up. smart devices are up. cloud is up. analytics is up. seems like everything is up except your budget. introducing comcast business enterprise solutions. with a different kind of network that delivers the bandwidth you need without the high cost. because you can't build the business of tomorrow on the network of yesterday.
i have been talk about so many of the things they talk about on the campaign trail for many many years. one day this market are crash, of course it will crash, but then it will come back. but while we wait for that fateful day there could be a new trends that takes the stock market even higher. but i'm looking at the great bonds rotation that's been promised since the great recession. today the s & p 500 and a nasdaq reached all-time highs. it's got a long way to go, but maybe we are starting to see that rotation into equities. the rotation itself is happening. think about today's session. the strongest session of the year was the weakest session today. the weakest sector of the year was the strongest. i'm talking about financials up almost 2% today. they are still down for the year while utilities was the only sector in the red. i think if you are in the
utilities think about ringing the register. it's higher than average risk. but monday look at shake shack. also, guys. you don't want to miss "wall street week." let me give you a sneak peek. >> if you look at the head-to-head polls that have been around for a bunch of months, when hillary clinton moves ahead in the polls the market goes up and when trump moves up in the polls the markets go down. we may not like hillary clinton but at least we know what she is. with donald trump there is so much uncertainty. charles: that's tonight 8:30 p.m. on fox business. we'll get to it after the break.
charles: donald trump headed to wisconsin, this after refusing to endorse the speaker this wee week. but news sources say, donald trump is to endorse him tonight, paul ryan will not be there. trump had trouble with support in wisconsin. that is considered a mayor swing state. will the endorsement help? should he endorse him? ford, you know we know political pundits say, but the
core true trump believers think he is doing the right thing, paul ryan gave him a tough time. >> understand following endorsing paul ryan may be smartest thing donald trump could do. it will take a team effort to win wisconsin. wisconsin. >> do you believe an endorsement right now will get ryan and although g.o.p. cruz guys to get onboard. make it work? >> it has not been working for trump before. when you are out of cards issue try something different, with 78% of republicans behind you, if you can get others like walker, ryan and johnson behind you, they will peak to people that are not interested in you. >> today paul ryan repeated
what he said yesterday, his endorsement is not a blank check, almost sounding like a check, he could revoke it. >> i mean he has turned into a power broker in this electioning when he said i'm not there yet, that was a real shock, he did endorse, now it is not -- not a blank check. it really is up to paul ryan, i think, even more so than donald trump to unite the party, a lot of traditional conservatives, many in wisconsin look to paul ryan for that leadership. he has the long-term vision of the party. charles: it is not his party, it is donald trump's party. did most votes in history in primary make this donald trump's party, why does paul ryan have a say. >> yes, but he has not traditionally been a republican. charles: but she thee republican. >> has he shown vision for long-term success of the party, i think that is what
people' to see, he can have an impact on donald trump. >> if he will listen. >> remember this is you know, he got plurality of votes. charles: we say that understanding he ran against a lot of people. >> it is donald trump's party if he is going on win. >> paul ryan has done the guest job of making sure truly conservative visions are held. charles: he is playing right into the democrats hands. >> i don't think so if we have a president trump, we need a leader that is check him. >> ladies, ladies, if this is actually going to work, you need 90-92% of republicans, if trump will be next president. therefore trump needs to show some love in this case to other players on the team like
paul ryan, if he does it right, paul ryan will be his best serogate to bring the republican party together. this is trump's party but you have to play nice with others. >> but i don't want paul ryan as a serogate, i want paul ryan as a leader yeah, is. reporter: i charles: is his job to make sure they can win. >> why is paul ryan given his own economic policies and own town halls. >> you have to think he is look at long-term vision of the party. dedemographic facts, a huge democratic shift, young people are cynical of authority, but they want limited government, paul ryan sees an opportunity to engage the next generation, he does not want to lose them to donald trump. charles: but if they lose them to hillary, and a potential are of 8 years of hillary, the party is done.
>> i don't think that is paul ryan's fault. >> kind of disagree, if we lose white house for next 8 years, if hillary clinton wins we'll be off in wilderness, if donald trump wins we could be successful and bring in very people we. i have watchd this for last 8 years, trust me on this point. >> trust me who do you sound like. >> i sound like john mccain, and mitt romney and every other -- are you just a little bit skeptical or dare i say cynical that paul ryan may be setting himself up for the future, 2020? >> maybe this is a selfish act of a man who is looking in the mirror saying, i could be president in 4 years. >> i don't think so because he did not necessarily want this position. i think paul ryan is different.
>> there will be no 2020, if hillary wins, in trust me. >> thank you very much at moment, thank you for watching, we've been doing well in ratings because of you. the man has been doing well, good evening, everybody. i'm lou dobbs. the battle between hillary clinton and the mainstream media against donald trump and our middle class is escalating. tonight it's clearer than ever that the republican nominee is caught in a bitter battle against not only hillary but the establishment, the mainstream liberal media, the radical left, the globalist establishment, foreign gofs and radical islamists as well. nearly all of them however are in a panic about the possibility donald trump will become president of the united states. so president obama chose to become