tv Making Money With Charles Payne FOX Business May 9, 2018 6:00pm-7:00pm EDT
thank you so much for having us in your home. thank you for watching. charles payne is coming up next with "making money." charles: if there is one word to sum up today it has to be winning. the dow and s & p all higher. and on capitol hill gina cass pell displayed poise. we begin with the bin winning news out of north korea. three prisoners held by north korea are free. mike pompeo was in north korea setting up the plans for the summit between kim jong-un and president trump. he says the americans are on their way home.
president trump: nobody thought this was going to happen. and if it did, it would be years or decade. nobody thought this was going to happen. i appreciate kim jong-un doing this and allowing him to go. we picked a time, we picked a place for the meeting or summit as you like to call it. i think it will be successful, but who knows. charles: gordon chang historic e
pathway to a leader's meeting in north korea. i think this ways diplomacy looks like. we have gotten away from diplomacy in the 21st century. but if you look at the cold war, what helped us exit that adversarial dirkted aever -- atb s represent not the source of the tension, it's a tool that's often used to get one's way when there is a bigger domestic or --
a or geopolitical issue. this ways will make it possible to talk about nuclear weapons in north korea. charles: the media jumped on president trump on his tweets and challenges and somehow he was bullying north korea. >> we americans should be proud of their president from a humanitarian perspective. to those three men and their families there is no better moment. on the national level he's making things happens. it does bode well for the potential interface at the highest levels. i'm a skeptic about this coming meeting. but at the same time this president managed to do things no one thought was possible. i think we sit back and be grateful for the moment. charles: peter i know there are
things you are sceptical of. >> i think we need to focus on what it will take for north korea to feel secure to give up those weapons. one is the american troop presence. the two koreas are more focused on reunification and the american presence presents a difficulty. if we were to leave, i think a united korea, the domino would fall like it did in the west. at that point china could bully them. how can we make north korea feel comfortable and create an environment where they can securely determine their own future. charles: we know none of this is
new. but there are if yo -- there ar. >> the north koreans do want sanctions relief. i think they have been unnerved by president trump's threats, and the chinese have been unnerved as well. the koreans don't like the chinese. this goes back a millennia. with regard to a country, that war between china and korea has moved hundreds of miles in both directions in the course of those 2,000 years. we don't have any territorial claims on south or north korea. charles: some form of u.s. military presence in south korea.
>> moon jae-in the south korean president said kim jong-un said that. most of south koreans understand the only reason they are there with a vibrant, free society is because of the united states. charles: in your find what could a deal ultimately look like? >> president trump said repeatedly and mike pompeo said today the agreement will be about denuclearizing the korean peninsula. i would like to focus on the issue of denuclearization. the administration has been so clear that's it top-level goal. it's not trying to topple the korean regime. than has been unusual
coordination and support among the asian allies involved in this on what we are attempting to achieve and ideally that will be the focus of the summit. charles: president trump exiting the iranian nuclear deal. he called the deal horrible and said it's one-side and a disaster. hugh does that play into this -- how does that play into this? if you do that on the eve of meeting with kim jong-un they won't take seriously any proposals they put forth. >> the removal of the united states in this deal was prudent. the premises for the deal were false. and it wasn't enforceable. the effects are probably three. north korea will look at this
and say it's got to be a real deal because they don't live by about deals that aren't real. and it's all about the denuclearization. their testing facility implode. and this heartens the iranian people tremendously because they got no benefits from the releets from sanctions. all that money went to hezbollah and purposes they had no interests. long game, this is really a great step forward and i think eye we see a see -- i hope we see a sequence of positive things as a result. charles: peter? >> this has to be genuine, real and final. however, we can't force that now. after the arrangement the north and south have made we can't go in there militarily to force the hand because we can't do that
without the south's support. at the end of the day we have to say, what are we going to get from this? we can't get it for free. the way to make south korea secure is to play on the north's concerns about china. at the end of the day they are more concerned about china than they are about us. >> you can see that. north korea's kim jong-un doesn't like the chinese. charles: in the last month or so he's met with president xi twice. what have those meetings been about. >> it's about china showing it's in control and xi telling trump there is no agreement that doesn't run through beijing.
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endured by china in that country's fall from prosperity to poverty. china's wealth was driven by early innovations and later by trade desperately sought silks, porcelain in exchange for silver. soon china had 30% of the world's silver. in europe panic ensued. the introduction to opium began to reverse china. when the first opium war began china was 32% of the world's
gdp. there was a second opium war. eventually china declined in an effort to rid that country of foreigners. by 1942 china was only 5% of the global gdp. china is on a mission after watching its economic economy leap over all the nations except one. they are accumulating all of that silver in exchange for cheaply made plastics and metals. this time there will nobody opium or peasant rebellion. there is a trade war and it began almost 200 years ago, and china is determined to win and
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charles: we are in the midst of a trade war, but it didn't begin with president trump. i just gave you my take on 178 years of ambition by china to reclaim what was there. let's go to the panel to discuss. author of the "100-year marathon." gordon chang is back with us as well. gordon, you heard my walk through history, if you will. it seems american economists, particularly conservative economists are okay with so-called free trade. we send out our precious money
and it comes back in the form of ownership our bonds or companies, and i think it's all slipping away. >> you have economists saying your trade balances are not a good indication. they use them to accomplish national purposes. that's what the united states did in an earlier era. and that's what the chinese are doing now. this is not just a trade issue. this is also going to be national security. we are seeing this all the time as china's military grows larger and larger. >> there was a famous economist who coined the term about comparative advantage. if one country can make it cheaper and better, the winds of economic means they can make it
and sell it somewhere and that's what's happening right now. charles: i think consumerism could be part of the ultimate downfall of america. when they weren't making that much money they had a 50% savings rate. but you studies this and you have written a book about it. >> your 200-year history is absolutely correct. that's how china see yous the last 200 years as well. a lot of what they are talking about is a rejuvenation of the period you are talking about. they thought they made a lot of progress last week when the american delegation came to china. they were given the american points and they leaked it to the chinese public.
and they are talking about how this is a new opium war and how dare the americans make these outrageous demands. this is the main newspaper story in china, how outrageous president trump's demands are. when the chinese delegation comes here and president trump expects them to give their initial reply, it will probably be no to all 8 points. >> i think we'll see more and more trade friction as we should because the united states needs to protect itself. we see china going after american innovation. if we don't have innovation, we don't have an economy. the chinese are not really big believes with their made in china 2025 initiative to crowd
everybody else out. and with their predatory practices, they want to rewrite the terms of economics. charles: building a new silk road, and new computer complex. and this is where i'm concerned one of the areas. their next leap in quantum computing. they have the world's two fastest computers. the next generation of this, i think, will put us at an economic as well as military disadvantage. >> the focus is on technology. when they ascended to the wto, for foreign companies to work and sell in china you had to pair up with a chinese company
and they had to transfer technology. the chinese have learned a lot. now technology is the focus, they want to own it and advance it. and a.i. is their focus. charles: two weeks ago they forced armed holdings into a joint venture with a chinese partner that took 51%. they will use that to gain all the technology prowess. if we don't fight back, i think the clock is ticking and we'll never have an opportunity to fight back. >> the chinese are pushing their desire to fight back, they learned a lesson in what the americans did with their negotiations with japan. the trade representative then was bob ligh lighthizer.
here he is in beijing. the chinese say he wants to disable or block china's growth way he did in japan. the american position is very tough. but now we are in the next round where the chinese may say no to everything. charles: this could be the biggest high stakes game -- it's not a game, but engagement. the world is watching. thank you very much. we appreciate the economic lesson and a walk through history. the mainstream media getting trumped. despite the negative coverage the latest polls show he continues to rise. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees.
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seconds. they are simply are not going to say anything positive about him. charles: that was brent bozell describing the onslaught of negative media. 90% of the press coverage of the president has been negative. but in the face of all of this the president's approval numbers are now on the rise. joining me to discuss. emily emily jashinsky, and fordo connell. emily, you are in d.c., you get to see this all the time. it feels like it's just noise. maybe it american people are starting to respond to the good things happening in their lives. >> when you are going through the introduction i was thinking.
i live in d.c. when i think about what we talk about in d.c., it's so different from what people talk about. what you see is probably a lot of negativity stemming from palace intrigue and the russia investigation. i don't think that's resonating with a lot of people who are interested in tax policy and foreign policy. there is a huge disconnect between the people in the media bubble and the people outside worried about their families and communities. charles: ford, with some of these achievements, 1.3 million more people joined the job market. we have three americans held hostage by one of the world's most of brutal dictators are heading home.
this should have made the news other than on chryon. >> when 51% of the people in this country say things are going well and 90% of news coverage is negative. that's the textbook example of journalistic malpractice. they cried wolf too many times and the americans are tuning out. charles: mark, you are a communications expert. but it seems like president trump has dialed back on twitter and social media. i think it media is so frustrated, what he's doing, focusing on the economy and things that matter, i think that's helping him. >> the president is still sharing his thoughts on twitter quite a bit.
but the media is prone to chasing the bright shiny object. but the american people can see through the noise and nonsense. the congressional generic ballot has been cut in half. it shows you the americans can see through it. they see it in their wallet and they see america standing strong on the world stage. charles: the national divertity coalition, they have been a target in my mind of the mainstream media wedge campaign. the guy who made the heroic rescue in tennessee being points out by van jones that the president hasn't reached out to him just yet. this sort of nonsense delivered to spark divisiveness, some would ebb say hatred. >> the mainstream media and liberal he athletes are
delusional. the president has been able to accomplish ridiculously incredible results fighting against these groups the last year and a half. he is doing a great job. charles: we have to leave it here because we have breaking news. a.p. is reporting the israeli army says iranian forces in syria fired 20 projectiles at an israeli position. we'll continue to monitor this situation. majorrages and big-time rally, the dow rallying for the fifth straight day. i'll give you five bullish reasons for you in this market. liberty mutual stood with me
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charles: you might say this is the kind of market you can root for because it's exhibiting true grit. last tuesday the market arrested a late pullback to rally into the close and saw the dow industrial average finish two points from its interday low. then there is resolve. we saw the forenation of a lot of patterns including a reverse head and shoulders formation. in the process they are
snapping the panel much highs technology has regained its swearing. but after tech, industrials are up almost 4% powered by these realms that operate in the eastern part of the u.s. financials up more than 2%. led by non-bank companies. money center banks are poised to take off. building material names, i talked about a lot on this show. chemical makers. eastman and du pont. in this market underscored by a declining utility second or closing at its lowest point since february 1. joining me to discuss, melissa, how do you see this market, can
you see some kind of inflection point? >> you might be right, but i'm cautious. it's early on in the summer and we have a lot of things coming up in political events, the mueller investigation, the trade wars, trump is meeting with kim jong-un in june. i'm not convinced yet. charles: david, those are issues you have been worried about as well. the counter to that is over long term, that's what moves the market. >> the fundamentals have been extraordinary. maybe we pulled in some of the returns. those car loads on rails. you saw that reflected in names like tsx. that's up 7.5%. that's real economy stuff that can drive the market higher.
charles: one of the big winners in transportation is old dominion. rumors amazon may buy them. that will make the whole post office debate moot. what names do you like? if someone is in this market, you don't want them all in cash. what would you be in? >> the individual stocks that i say are great buys, apple. berkshire hathaway. apple is great. you could just buy it. facebook i really like. i think facebook kicks up. it didn't right after the earnings. but then it got the pop. friday apple really lifted the entire market.
it's hard to believe except that apple equates 10% of the nasdaq. the banks are lacking. i like jpm, but wells fargo. charles: do you think they under performed based on the hike? i don't know that they lived up to that. >> i think they have. if you are looking for an attractive area of the mark it, you have got -- of the market, you have got to look at growth. apple is a great company, facebook is a great company. but if those are the only things that go up, those are the consumer staples of our time. apple is a cash machine. >> let me ask you on the banks. do you like the money centered
banks? >> i don't own a lot of the large-cap banks. cma is a great bank. that's where i see the action. >> when do you start to get nervous in this market? >> people will start to get nervous if we start to breach the 200-day again. we are close to breaking out on the up side. but below that, they will have their day. >> we are stuck in this range. we break over 29,000 in the dow, i feel confident we'll move higher. charles: last week we did -- but when we came back led by apple,
a record revival. a record number of job openings, record prove profits. steady wage gains. i'm not talking golden, but goldilocks. carol, you always monitored the macro events in this country for opportunities. are you seeing what i'm seeing from that level, a broadening of possible paisht across this country whether it's construction, manufacturing, higher wages and things like that? >> almost like oprah, you get a job and you get a job, and if you want a job you probably can find a job. the challenge is you probably won't be able to find the job you want. there is a skill mismatch.
especially for high-paying jobs. it's not like somebody can just walk off the street and walk into that job. find an efficient way to retrain workers. that will be the key issue going forward. charles: first i want to get veronica's take overall. i'm look at different ways of measuring this. you can look at corporate earnings but you can look at fnib saying profits for the small businesses at a record level. it's the genesis of shared prosperity. >> they are excited. they are less worried about regulations. they are feeling excited, they are happy about the tax regime and what that means for them. if you look at the service sector, it's a great time to get
a job. and think about it. tough a teenager, they can get a job this summer. when its the last time you walked down the street and have seen the small businesses putting out their hiring signs. you haven't seen that in a long time. charles: you are seeing that. i believe that's a major issue for this country. who would be responsible for that? would it be because ivanka trump has been pushing the german-type vocational education agenda? i think more people are receptive to that. >> it just depends. it's the lower end if you are in food servicer restaurants. you will have to raise wages and do the training on the job. for higher-skilled opportunities, i like to rely on the private sector. i think the private sector does it better than the public
sector. but point be cooln if the president offered incentives. we'll give you an extra tax break. so i think there is a way for the public and private sector to partner together. but at the end of the day, it's up to these businesses, they will have to pay higher wages and they will have to train because they are not finding the workers they need. charles: where you see forced minimum wage, that's been a major disaster in the places where they tried it. i think success begets success. to carol's point, president trump has many meetings with businesses small and large. he's going to listen to what they need. >> he's rinsing. but you need to raise wages, but let that happen organically. we are seeing the market demand that. small and large businesses alike
are finding they can't hold on. it seems like all the signals are ghght right direction. people are excited. if you are looking at your stock market. charles: fireworks on capitol hill as trump's pick for cia director gets grilled during her confirmation hearing. she stood firm and strong and made a great case for herself. i'm a concrete mason.
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dedeposition andetention and inn program. charles: gina has spell facing really intense questioning on capitol about her role in interrogation tactics and disruption of torture tapes. back with me to discuss, michael pillsbury and charles. i thought she immediate the great case and the best line of all, she won't have to have any on-the-job training because she's be there for 30 years and knows what she's doing mtion gina has spelgina has spell shoy vote. put her life on the line for every american. people forget what it was like after 9/11 11 we had no idea what was going to happen. and what she did was preupt and within the law. i find it amusing, honestly, to
see people criticizing her who cannot hold a candle to her credentials. it should be an easy vote for the democrats and republicans. charles: michael, again, back to that period when we were always look in the skies at commercial airplanes and just wondering, we didn't know where the next shoe would drop. we knew we were racing against the clock all around the world and she did her duty, her job. she made a commitment in front of all of these folks. piit was gad good enough for jo manchin. what are your thoughts? >> i think she's a he hero. i met her overseas. i can't say where. they keep demanding to know where she served overseas and she said, you can have it this afternoon but it's top secret. there was a demonstrator that came in stating bloody gina, bloody gina. she kept her cool.
she's cool under fire. who would be so calm when a demonstrator is scream in the room. charles: i saw that guy. >> he tried 0 to get her to say trump wants to torture, would she refuse his orders. she got out of that as well. but the classified session this afternoon is where i think she really shined. charles: it took a lot of security to get that guy out of there. it was a frightening scene. we just got leo panetta telling maria bartiromo that he supports her. >> that's great news. >> i support her nomination to be head of the ci airks. i think she's presented strong testimony about how she feels about torture and the fact that she would never implement that kind of approach again. and so i just -- i hope that the senators look at the full context of her career, her
testimony today, and hopefully will support her getting that nomination. charles: you can see that exclusive interview tomorrow with leon panetta, "managersmors with maria." we've got breaking news, part of it says that mike pompeo said that he came to north korea personally to convey the verbal message of the united states president and to prepare for the u.s. summit. he then conveyed kim jong-un a verbal message of president trump and his representation of the united states. real quick, robert, we're running out of time. it really feels like pompeo has been a major asset already with this negotiation. >> no question he's been a great asset. this is a promising start. and when 2 a.m. rolls around and the president is at andrews air
force base, i hope there's as much heraldy for when our hostages came back from iran. charles: i hope so too. appreciate your expertise tonight, folks. here's lou dobbs. lou: good evening, everybody. our top stories, president trump securing the release of three americans from captivity in north korea. and at the same time securing another important foreign policy victory. those three americans held by north korea were released and secretary of state mike pompeo is bringing them back to the united states tonight set to land at andrews air force base late tonight where the president will greet them. kim jong-un clearly making important gestures of goo goodwl as pros tects for the trump-kim summit steadily improve. the justice department