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tv   Making Money With Charles Payne  FOX Business  March 27, 2018 6:00pm-7:00pm EDT

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reporter: orange county voting to join the suit against the state of california. charles payne is here with making money. charles: stocks plunging. of course, this is around facebook which tumbled into bear market territory. on cue, machine selling also picked up. but it's all about the boom coming off the tech rails. the "wall street journal" reporting ceo mark zuckerberg is expected to teffightify before the senate judiciary committee.
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it's looking like the once cool super kids on the block like facebook losing that cool and perhaps even becoming villians and getting a bad rap. there are questions whether they should face tougher questions over anti-trust issues. randy, i'm going to shoot straight to you. anti-trust is something that has been floating in the air for the last couple years with the tech giants. facebook is becoming something of a villain. >> vulnerable, no. anti-trust is a scary word. how much does it cost to use facebook? if it were any cheaper they
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would be paying us. if the essence of anti-trust is free and unfettered competition to bring prices up and quality up. putting aside the data breach. how much better can facebook be doing innovation-wise, price-wise. charles: can they be beat? here is the irony. you start to layer with regulations it builds a moat around the company. >> if you talk to the next greatest tech geek, what's the exit strategy? build the company up and hope facebook buys it. facebook is where they ultimately want too end up.
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charles: the monthly average users in america stalled. it's the same exact number. they have kind of lost that coolness. they have other things working for them. but we can see from the stock something has gone rock bht last -- has gone wrong in the last week. >> millennials are turning off the site and turning to other social networks. most of of them are turning to instagram which is owned by facebook. zuckerberg has visibility very careful when he testifies. he doesn't have a lot of allies on capitol hill. republicans hate him because they think he helped obama in 2012 and democrats hate him because they think he helped trump in 2016. charles: technically they are
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facing a trillion dollars in fines. that's just in america. this is going to give them an excuse to fine them and tax them with that strong tax flow. you understand the economic and political ramifications. they don't have a lot of people that like them anymore. >> this could affect other tech companies like google and other companies as well. you have got to remember facebook may be in a rebranding problem. but they have a lot of cash on hand. let's not forget they own was w. they bone other companies. if they kind of falter on facebook itself, they can also
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have enough cash object hand they can buy buy other companies like instagram. charles: it was developed by a kid who came here from the ussr with his mom. that was the reason, they tapped their phones back in the day. but lawrence jones, monetizing this, randy brings up the point that it doesn't cost to use it so they may be shield from anti-trust accusations. how do they monetize in a world where we'll need to know more. it will be harder for them to keep what they have had up to this point. >> my problem is i have a real issue with the government getting involved with a social media company. this is not what conservatives should ever advocate for.
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people should know what they are signing up for. do they know that they are not going too read the full terms and conditions? yes. but at the end of the day people can choose whether they want to use facebook or get off. i think we are making a big deal about nothing because at the end of the day, people can decide. charles: everybody you know is on it so it's hard to say i can't be in the club. i don't know if the folks on android phones knew facebook was taking down all their poor. >> this is a huge problem. i'm a conservative like lawrence. i don't want government in my life as much as possible. this is all about transparency. making viewers check off a box of 40 pages they are not going
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to read is not transparency. but if facebook or these other sites refuse to be transparent, how are we going to force them to be transparent? >> people fail to read, let's punish facebook because americans are too lazy to read the conditions and terms of a contract. they are clicking accept. charles: ebb if they do read it people want to know how much we should know when they sell this information, who they are selling it to and how it's going to be manipulated. mark zuckerberg was warned about this by a technology titan years ago. >> silicon valley is not monolithic. we have always had a different view of privacy than some of our colleagues in the valley.
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we take privacy extremely seriously. some people want to share more data and other people. ask them, ask themmer time. make them tell you stop asking. let them know precisely what you are going to do with their data. charles: mark zuckerberg will go to washington, d.c. and not walk away from there without some sort of action being taken. >> i'm going to give you the complete counterintuitive defense attorney move, say nothing, should your mouth. no. if mark zuckerberg is smart, he does the opposite. he falls on his sword, he accepts responsibility. he's transparent and convinces congress this was an aberration, it was a blip, and we'll make sure it never happens again.
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charles: is that going to be enough for people to say all right, congress, take care of it. >> there will be other companies scrutinized. you will be looking at google and department store credit card companies. what are they doing with the information they have. charles: which is why technology stocks got hammered. go ahead will be lawrence. >> facebook has to be honest to not only members of congress, but their audience. this was by design. facebook created this network to do just this, get people addicted to the social media site so they could make money. at the end of the day they have to be honest with members of congress. it wasn't just people talking to each other over a social
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program. charles: the robber barons were dirty capitalists too. the first chinese solar company to set up shopn in america as a result of trump's sanctions. longer lasting. in a chevy truck. and now, you can too. see why chevrolet is the most awarded and fastest growing brand the last four years overall. current competitive owners can get a total value of over eleven thousand dollars on this silverado all star when you finance with gm financial. find new roads at your local chevy dealer.
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charles: the first chinese company is going to build a solar company in the united states. this comes after trump put a tariff on solar panels from china. they will invest $60 million and
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it will be constructed in jacksonville, florida. michael barns, and eric, let me start with you. it didn't get a lot of fanfare. but i thought it was significant. this is the second largest solar panel company in the world. this after 30 person * tariffs. it shows things can work, maybe. >> i think what it shows is you have economists and washington swamp advisors who are pointing to the old bush tariffs as evidence that the trump plan of tariffs is going to be flawed. it is induc -- it's inductive thinking. it does work.
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if you are tough, it's going to work. if you have tariffs president trump put on china threatened and others that he's talking about doing, and what's it doing? it's doing the opposite of what these experts are saying. it's bringing them to the table. there are reports there are negotiations going on. i think it's fascinating. it's an example of the outcome. finally for the first time they are facing head winds. and they have to to struggle. they don't have beijing protecting them. they don't have any institutionalized protection. they make decisions that are in favor of america. president trump knows the tough negotiation is the way to get leverage. charles: michael, a big announcement be foxconn bought
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another big company, belkin, almost a billion dollar deal. and they are building a huge facility in wisconsin. we also want -- we do want trade and access to new markets the way they have access to our markets. >> absolutely. with this jacksonville decision, it's a good first step. they decided they were going to do the manufacturing in the u.s. instead of china. the purpose of the tariffs is to help american communities pan american workers. the parent company going into jacksonville is chinese. we want a company building and investing as american so we have american industries starting to thrive. we want that reciprocity much trade the president talked about for it to be fair.
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they are untension alley killing markets. use the opportunity to build the u.s. market. charles: michael, you work with president bush. they talk about the tariffs under president bush and say it failed. but no one says the report was paid for by a pro-trade organization and the u.s. international trade commission did their own report that showed the opposite happening. why did president bush only keep the tariffs on for a little over a year. >> there is an evident to start out with a strong stance and negotiate and try to figure out what works. the fact that this administration is taking a bilateral approach and adjusting the terms according to each markets' needs. with other countries and yield a
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fairer system for the united states and its communities and american workers and build american industries. charles: we'll come back and pick this up. the census -- they are going to ask how many rooms you have, but they can't ask if you are a citizen? the trump administration says it must chang. the battle, next. in the corps, so i'm not happy unless my hands are dirty. between running a business and four kids, we're busy. knowing that usaa will always have my back... that's just one less thing you have to worry about. we are the cochran family, and we'll be usaa members for life.
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charles: a political firestorm raging across the country as the trump administration announced the 2020 census will ask people if they are citizens of the united states. 13 states, including california
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and new york are planning to sue the government to block the question from appearing on a census form. stephanie, i don't think any state is making more noise than california. what is the deal? i think the first question should be are you a citizen. >> exactly. americans across the country are wondering why this question hasn't been on the census form for quite some time. this is not controversial whatsoever. this is important information that we need to know. if you look at this. illegal immigrants are being counts. because of this, this dilutes the vote for american citizens. that's why democrats are freaking. they want more representation. when the illegal immigrants are being counsel. that means some of these
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districts, half the pop st. louis can't even vote. charles: it's a big, important deal and the information should be honest. >> california considers its voting population to be americans. they pushed back against anything federal as a state to say these people are not american citizens, whether it's on driver's licenses and soon they will be questioning the ability to vote. they are counting the illegal people who are in california, adding them as citizens, that's allowing them to get more representation in congress, it will allow a higher electoral college count and get them more welfare money. this is something california can sue over, but other states will be able to counter sue because
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california diluting the number of congressmen they have by counting illegals hurts their neighbors. charles: the attorney general of california today had some strong words. let's take a listen. >> even the way this administration has attacked immigrants, you could understand why immigrant families would be afraid to fill out the census questionnaire. the trump administration has yet again failed to learn from history. they failed to consider the consequences of scaring people into not filling out the census forms. charles: deliberately con plating i am granted with non-immigrant. >> don't you think we need to know how many people are here
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illegally? i don't know why people should be afraid. it's not like there will be deportation linked to it. people who work for the census are temporary workers. only reason california is freaking is because of what everybody else said, they are afraid to lose money and electoral votes. i doubt they would lose either of those two things it's a matter of information gathering. you are trying to get services to these people to get voting rights and citizenship. wouldn't you want to know who they are so you can help fighter for their rights and give them those rights? it doesn't make sense for this lawsuit to be happening except for political grand standing. >> it goes beyond money when you have a place like california with sanctuary cities and a sanctuary state. they have con glad it this and they believe the illegal
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immigrants should be granted the same rights as native born. >> our founding father never envisions giving congressional representation to people in this country illegally. this goes to bigger things like government spending. even the state legislatures. to see how they are conflating this in the news. they are saying they don't want people of color. they don't want them to be counsel. we need to know who is in this country. and the question isn't even controversial. in the case of california and new york are coming up with, nobody is stopping anyone from filling out the census forms. they have the option to fill out that one question. also there is no proof to show people went fill this out. charles: president trump may have been accused by the left of
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cozying up to the russians. but the no one has take and harder stance than he has with respect to getting rid of all these folks he's getting rid of. that's just the tip of the iceberg. there is more to come. we'll be right back. termites.
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we're on the move. hey rick, all good? oh yeah, we're good. we're good. terminix. defenders of home. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. charles: president trump leading a global crackdown on russia.
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expelling 60 russian diplomats. this is the largest expulsion since 1956. all in a coordinated effort supporting u.k. after a former russian spy and his daughter were poisoned on british soil. joining me, sarah westwood, and christopher bedford. chris chris, president trump took a lot of criticism in the press. these sort of move are being crafted behind the scenes. >> that's right. this is part of crumb is taking
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a lot of heat on this. it's also closing the russian consulate in san francisco and more recently in seattle. and one in washington and new york. selling lethal arm to the ukraine which i don't think obama ever did it was just 10 days ago he sanctioned a number of individuals and companies related to cyber intrusions into our election process. donald trump and his administration have done a lot more than president obama and his administration. i'm curious if this does jt limit our ability to cut deals with russia in places like ukraine and syria. charles: today we heard from several folks. some pretty powerful words. >> together these steps constitute the largest single expulsion of russians ever
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ordered by the united states. it's a mark of how seriously we take the actions much russia. as we said yesterday, the door to dialogue with the russian government remains open. but if russia wants to improve relations it needs to first acknowledge its responsibility for these attacks and its reckless beshave year. charles: a lot of folks are saying more needs to be done. >> i think because trump's rhetoric has been relatively friendly towards russia many people assume, especially his critics, that they have been soft and russia. but the corrupt administration has proposed policies that have been strict on russia. even though you are hearing from
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the state department saying what trump and others wants is to have friendly relations with russia. they want to stabilize relations. they are also taking perhaps tougher steps than the previoused a behind straition showing if russia doesn't want to take trump's olive branch, they are more than happy top respond in kind. >> maybe trump walks softly and carries a small reset button. we heard the obama administration talk openly about having great relations with russia. we are seeing stern packs. >> we are. during the obama administration we saw russian activities in russian countries expands. i'm talking about spies work with m.i.6 that were found pad locked in a gym bag naked in a
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bathtub and the police said it was accidental. and the fbi are saying this was no accident. he was supposed to talk to the department of justice the next day. an investigation by "buzzfeed" shows 14 people have been killed in england alone by ways suspected of being russian assassinations. russia is a country we could work with in the middle east. charles: christian how do you think they will respond? >> i think they will kick diplomats and people who aren't diplomats out of the united states and western capitals and that will have a consequence to our own ability to understand what's going on in russia. at the end of the day it's weird what we have done. this is london's beef with moscow. hopefully it's true what they have told us. but at the end of the day, we
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have our interests. if we want to stop the killing in sir yeah we may have to cut a deal russians. we have got to do diplomacy. charles: facebook and the entire tech center spinning the market into a tailspin. nasdaq dropping almost 3%. what happens next? we discuss it.
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charles: california dmv says uber will not we knew its permit to test its cars there.
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charles: technology giants hammered. you can file among the assortment of negative speculation. facebook shares began crumbling a week ago. technology names all came along for the ride. until now silicon valley had the cool factor that allowed the tech giants to escape the scrutiny and scorn of the so-called robber barons.
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martin shkreli had to do some hard time. facebook potentially helping president trump may have changed everybody. all of a sudden big tech could be in big trouble and deemed to be too big. the largest market tech stocks all belong to these big tech names. apple at $857 billion. alphabet google $705 billion. facebook $441 billion. the question i asked earlier in the show, could they be broken up. use of the sherman act could be use bid both parties. at the very least these names are open for big fines and regulations not unlike banks in the aftermath of the housing crash. to be clear, i don't think there
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will be anti-trade actions. they are the competitive hedge against each other if they were to take action to break them up. moreover, these names were ripe for profit taking. including twitter. but it got caught in the net of a short seller saying it could be the biggest target on social media. the s & p technology sector is the biggest loser of the day. nvidia actually opened up 3 points but in the end it took the largest rubbing in the xlk index. wire still at 1% but it's looking vulnerable. the problem for investors is there is no quick answers for the social media companies which may or may not go to congress on
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april 12. they have the senate and the house now. it's tough to pinpoint the down side. but the stocks to buy are the ones with the amazing businesses that won't be regulated by fines. the trade war doesn't feel so scary after positive overtures from china and a trade deal from south korea. after the close, fundamentals, not headlines, actually moving stock. we saw lululemon higher. coming up, the naysayers got it wrong when it came to the brexit vote. they said it would be a disaster. the united kingo -- kingdom ecoy has probably never been
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charles: brexit set to go into motion in about a year. despite the dire forecasts the united kingdom is doing just fine. the number of people working stands at a record high. and income inequality is approaching a 30-year low. one of the dire warnings came from the u.k. treasury itself. it forecast unemployment would increase. unemployment now stands at a 43-year low. the scare tactics before this vote, gentlemen, was absolutely amazing. we are going through something
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like that now with respect to tariffs. how could everyone get it so wrong and did they really get it wrongs or were these the elites trying to protect their own self-interest? >> it's a victory for the people of the u.k. and a defeat for the perpetrators of paranoia. the people on the left that no market what the issue, if it's tax cuts or the climate deal, they want to tell you when conservative policies are enacted that the sky is falling and the world is ending. this just one of these clear examples that it's simply not true. long term it hurts the individuals that's are always prognosticating that these things will be fatal it's a great victory and a defeat for those individuals. charles: we are talking about
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the european union trying to hold it together. and the establishment tryinged to hold it together and push back against this idea of individualism, of patriotism, of countries controlling their own destiny. obviously we look at election results since then. it's pretty sloppy. brussels and germany having a hard time convincing other countries to stay the course. >> this was an example of people pushing back against the establishment, pushing back against the elites. and the elite, the establishment showed devastating incompetence with their prediction of the brexit vote. the people got the victory and deserve to get the victory. it shows the power of populism around issues where it really hits home. it hits the family. brexit was a perfect example.
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england was getting devastated. they were losing jobs. people from the e.u. coming over in hoards. and that's ending. charles: president trump signs the $1.3 trillion spending bill that adds trillions to our deficit spending because everyone around him is saying we have had a couple government shut grounds and we can't afford more. the conventional wisdom has gone the us in a bad pickle. >> by the way, the republicans do it sometimes, too. but the left is notoriously bad at saying that we can't do certain things that it's going to be the end of the world it's time we start pushing back on these notions. that was, i totally agree it was
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a victory for the people, the brexit vote was powerful. but we need more of that populist message being pushed across the airwaves. if we don't have it it's tough to have equal air time to convince people of that. charles: he promisedy to never sign anything like this again. but i think he'll have the opportunity to prove it, unfortunately. >> i sure hope so. this was a strategic blunder on the part of the president. he's going to pay a big price because the base is upset. i think they have lost some confidence. immigration, the core issue that he ran on, the core issue that everyone was so excited about, the wall. he just didn't back his promise to the nth degree. i understand the military is important and he's trying to get
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funding for military. but that will be a challenge and he missed an opportunity and i hope he gets it right. charles: he'll try to pull strings behind the scenes. gentlemen, thank you both have much. china flexing its military muscle with one of the biggest military drills ever. one of the most of hotly contested areas, period.
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♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e trade, kiddo. charles: china conducting large-scale drizzle in a crucial and sensitive trade route in the south china sea with dozen of vessels and an aircraft carrier. kim jong-un made a surprise visit to beijing today. frank gaffney, the president of
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security policy. frank, all of this stuff is interesting, even more so as this trade war negotiation goes on. what do you make of the military display we saw? >> think it puts to rest the excuse we have been hearing from the chinese for a long time that they would have a peaceful rise. in 1999 they were engaged in what they called unrestricted warfare against the united states using mostly financial and economic and non-kinetic techniques to try to strengthen themselves at our expense and weaken us. what we have seen is the increasing evidence they are building a military prepared and capable of taking this conflict to the kinetic level and that's a worrying thing. the south china sea is an
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incredibly important trade route and they are positioning themselves in panama and in the caribbean and in africa and elsewhere to engage in similar kinds of choke points against us answer our vital and economic security interest. charles: they are being pretty transparent by the now, so they must be confident about where they are. >> china has taken a step forward. way see is they are integrating elements of their southern please along with the northern fleet. they have had their a-6 bombers tblieg long with their -- along with their fighters. what they lack is combat experience. it's been more than 30 years since their dust-up with vietnam. this is a military with great technology but they are looking in real combat experience. nonetheless, we'll have to deal
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with it down the road. charles: what do you make of kim jong-un maybe on the bulletproof train making the trip to beijing? what are the ramifications of it all? >> conceivably it's to seek the chinese advice and maybe some accommodations on the kinds of sanctions the chinese have begun putting on the north koreans in anticipation of the meeting with president trump. on the other hand it could be a strategy session how to play this operation which i think frankly the chinese have been running against us for some time. this idea they will help us with north korea i think has been misplaced. i think they see this as an advantage the china at our expense. charles: there is a report out, russia and china, with respect
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to development of souper fast missile technology, hypersonic missiles. what's the implication of that? it sounds like senator inoff * -- inhofe talked about it today. >> they are not ahead of us in hypersonics. they built up infrastructure. we know they are working in this area. our defense advance research project has hyper sonics initiative. but we need to make sure steve walker has all the money he needs to for research. they doubled the budget for our hypersonic research.
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we have to stay ahead. >> there is a dirty little secret that is we gave them that technology. it's scandal bigger than uranium one. charles: here is lou. lou: the top stories. california fully aligning itself with the lunatic left as the trump administration insifts on rationale in federal government policy. california's radical attorney general announcing he's suing the administration for adding a question about citizenship to the next census. why should he care at all let alone so much. we examine the bizarre reasons tonight. also the state government out of control. but in a growing number of cities and one county in california, there is hope for america. orange county is a


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