tv Making Money With Charles Payne FOX Business June 11, 2018 6:00pm-7:00pm EDT
great unemployment for black and hispanic unemployment. lowest in history for female unemployment. let's get to fox business' charles payne. charles: we are just three hours away from his historic summit in singapore between county rrp and kim jong-un. they will meet face to face with just their translators present. dierdre: good evening, it's good to be here. this is an historic summit. a sitting u.s. president is going to neat one-on-one w
the north korean leader. no advisors, no cabinet members until later. the first hour meant to be one-on-one with translators. yesterday mike pompeo speaking to the media saying he's optimistic about the summit. >> i am optimisticave a successful outcome in tomorrow's meeting. in each of those two countries there are only two people who can mak decisions of this magnitude and those two peopl will be sitting in the room tomorrow. dierdre: president trump just tweeted out, meetings between staff and reps are going quickly. but in the end it doesn't matter. we'll know soon whether or not it's a real deal. we heard the president tell us he'll know quickly whether this
meeting can move ford and whether some of these goals we are talking about from the u.s. point of view, whether it's complete and verifiable denuclearization. white house chief of staff john kelly, john bolton, sarah huckabee sdend there are some diplomats telling me it's very good john bolton will eventually be in the conversation according to one former ambassador to singapore. he said you want at least one hawk in the room. some scheduling matters. the presint alluded' to it. kim jong-un will be leaving this afternoon. president trump not far behind. he'll be cutting his stay here short by at least a few hours and flying out this evening.
but kim jong-un leaving his hotel for the last time as he got a tour of singapore, he went to the mandalay bay and the gardens by the bay which is the uivalent of thing bronx botanical gardens. the atmosphere is very welcoming to him. and he's been met with applause which may be a surprise to people who look at his record with human rights which in this particular region is not stellar. charles: i want to bring in fox news contributor jason chaffetz. jason, the presidenting in singapore. just -- the president in singapore still touting our economy. the stock market up almost 40% since the election. $7 trillion in u.s. value throughout the economy.
lowest unemployment trait for black and hispanics, lowest in history, and female unemployment lowest' ever. this is in the aftermath of leaving g-7 where you got the digs particularly from justin trudeau which rubbed a lot of people in the trump administration the wrong way. do you think he has the proper momentum? do you feel he has all the wind in his sales? >> it's his numbers. president trump's numbers are phenomenal. coming out of the g-7 and the discussion about how the president handled all that by some of these people on the far left end of the political spectrum. the stock market reacted the proper way. so he does have the momentum.
the fact that kim jong-un is there on the ground to meet one-on-one, nuke pompeo said it exactly right. there are only two people that will make these decisions and theyre going to ben alone together in a room. credit to mike pompeo for ing them in that room. charles: we have been warned to have cautious optimism. and the mainstream media already labeled this dead on arifle. --n arrival. this is a roguen that could spur even additional economic activity in the hottest economic flejt world. but stop a potential arms race that was burding last year. when they launched that last missile. japan was talking about dissing
article 9 of their constitution. >> the reason these two leaders are getting together are in large part because you have sout korea and japan supporting the united states position. and the pressure applied china. we had the military might with our presence in the region. and you have china feeling the squeeze. all that complexion itam toer to get -- all that complexity to get these two people in the room. chart * the president put out another tweet, the fact that i'm having a meeting is a major loss for the haters and losers. the pundits hot called me wrong from the beginning have nothing else they can say. i like the tone of that tweet
because it was sobering. he's absolutely right. there are so many people who are outright advocating, asking, hoping president trump fails on the eve of this historic meeting that could set the world up for greater peace. >> when our president travels abroad the entire country should extend behind the president and hope for nothing but success it's sickening to see what some are doing to wish ill will on the president. president obama's strategy was lead from behind and that didn't work. charles: sometimes i wonder if it's not so much that they dislike president trump, but the way he goes by the is an i
threat cal -- is antithetical to the way they have don't. joining me, ned ryun and rebecca, let me start with you. what do you expect will happen from this meeting. as we approach this thing, i'm personally getting more excited. >> secretary pompeo says he's very optimistic. there ising a long phone call between president trump and president moon. i think we'll see the next steps in denuclearization. we'll get a good sign post as to what it means coming up. charles: the denuclearization thing, we talked about how both sides have to hammer that down.
i would suspect going into tonight's meeting both sides understand what it means. but the process itself, could this take a decade, 15 years. north korea has been at this for a long time. they have been hiding technology. what do we consider success and what do we consider victory? >> i'll reiterate what jason said. it's success that we are even having a meeting tomorrow. the reason we are having the meeting is because of one man, donald trump. the reason he's at that table tomorrow and the north koreans are there is because he pushed the sanctions, and he had a credible threat of annihilating force. the north koreans rd his button is bigger than ours and we should come to the table. i don't think donald trump is
under the illusion that a 70-year-old problem will get fixed in a day. do i think we can make positive steps? yes. but i don't think trump can lose tomorrow. he has shown himself open and willing to negotiate. if he stands firm he can get up and walk away from that table and goes back to a maximum pressure campaign. i don't think he can lose tomorrow at all. charles: having this event and being elevated on the world stage coul be enough for him. >> he clearly want to do something different with north korea. he can choose to denuclearize and go with economic development. let's not forget. we are denuclearizing, but we are not demilitarizing. there are 20,000 americans
stationed in south korea. and the north has a large army and stunning cyber capability. charles: if president trump comes back with some framework and it feels like the first one went well. what kind of help does that provide for the republican party in the upcoming elections? >> when you have progress, peace and possible airport happening overseas coupled with the success of the tax cuts and the rising boom in the stock market. by the end of the week we'll get into the inspector general report. life at home as a member of congress, when the president is doing well overseas, it makes life a whole lot better in those town hall meetings. charles: i have got a special programming note. you want to stay with fox business for complete nonstop
here to discuss, fox business reporter susan lee. reporter: it was one of the most of interesting g-7 meetings we have had in 20 years. but what justin trudeau had to say wasn't all that new. he already said he feels insulted by the u.s. tariffs on aluminum and steel. something he alluded to when i spoke to him in new york a few weeks ago. i reiterated to president trump that these tariffs threaten to hurt industry and workers on both sides our border. i stand ready to work closely to work the president on this dispute consistently but i will always protect canadian workers and canadian interests. >> that's from the g-7 but he
pretty much said the same thing in new york. i think there was frustrationtht thought he was being ganged up on by the rest of the g-7. what about frustrations over nafta. they wanted to sign a deal. promises made during the campaign, promises kept. also with the kn prime minister and some of the rhetoric going toib these discussions, that set the tone that it wouldn't be a happy family at the end of it. charles: fox news contributor, robert wolf, he served on president obama's export council. they went into this saber rallying. we don't need president trump if
he doesn't play ball. he was pretty upset over the weekend. he said he has good personal relationships with all the people in the g-7. but when it comes to negotiating these deals, he's pretty firm object what he believes and what he's trying to accomplish. >> as you said, there was a lot going on. i thought navarro was totally out of line with the comment he made. he has to be more diplomatic. you can do deals and day firm but you don't have to take shots like that. charles: peter navarro said there is a special place in hell for foreign leaders who criticize trump. >> correct. the president staying firm is okay. but i think he's supposed to be the greatest deal maker ever. we are not making deals. canada, we have $700 billion in commerce we do with them between
goods and services. we should figure out ways to get both sides where there is a better balance. charles: how would you go about it? the fact of theter is these deals do linger. i checked out the world trade organization. we had a problem with canadian dairy going back to 1997. we filed a consultation. we got a resolution in 2003. it took six years and still we had the tariff on dairy. when you think about the mechanisms in place like the wto, they don't feel like they are effective. how do we get the job done. niceties don't seem to work. >> i don't think it's fair to the farmers. if you are sitting in canada they will say you are giving us tariffs of 250% on timber.
we actually have a surplus with canada. of the huge deficit with canada. charles: according to canada they have aplus with us. >> it depend on whether you are just talking goods or goods and services. charles: i understand -- you work with president obama, he had a different approach. he was a different kind of statesman. that's not president trump's modus operandi. i think something isoing to happen and it could get worse. >> things have to get better. the thing president trump has behind him is a growing economy. irrespective of the great-7, the commission on his side. he can stay forceful. but there is a way to do it. we should sit down and kudlow made some statements.
we were moving a little more ford in nafta, then it blows up over popular nationalist red rick. we are strong to begin with. we don't need to play that nationalist type. charles: more than the historic summit between president trump and kim jong-un. we'll talk about the economics. particularly for north korea. what kind of potential do they have? we'll break it down for you next. it's easy to think that all money managers are pretty much the sa buwhile some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from
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impose 300 sanctions on north korea. joining me gillian melchoir. james, the economy has changed a little bit. this is not kim jong-un's grandfather's economy. 300 mill people have mobile phones. there have even been some investments there. does kim look at that and look at the world around him and see what could can? >> certainly. he went to school in switzerland, one of the most of successful places in the world. under his rule, there has been considerable liberalization of the internal market where individual koreans can sell to each other. and in 2016 the economy grew at 4%.
this economy could really explode fit was given the opportunity. charles will be president trump on more than one occasion he has given ode to north koreans, saying they work hard. it's 26,000 to 2,000. everyone outside is looking at this saying there is so much potential. >> what's stopping it. it's cliche' to point this out. but if you look at north and south korea from space you can see a giant black hole where there is no electricity operating. i don't think it's a confucius society anymore.
i think they have incentive to hold on to their power. charles: reports say 25 million people don't have electricity. and the border guard who defected with his body riddled with worms. dictatorships don't last forever. he was zmooltd west. he has to understand what's going on. how does he arrive to the point where he's willing to give those nuclear weapons? >> good point. i agree with my other correspondent, this is a dictatorship, and that's a real drag on the economy. but what we have seen is you can develop through having democratic systems, south korea, taiwan, hong kong, singapore, or you can have dictatorships like
china and vietnam which decided they will embrace the modern economy. that's where i think there may be room for maneuver with the kim family. but it's all still in the stars at this moment. >> are we getting too optimistic here? >> i think far too optimistic. again, this is a country run on keeping its people in absolute poverty. completely ignore rant of current affairs. i don't see him walking away from that. i don't think people will accept him if he doesn't. charles: he hasn't landed long. we are going to take a look at tonight's singapore meeting and what it means from the united states and north korea from a
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that? here to break it down, steven yates, a former cheney national security advisor. colonel, last year n korea had 17 missile launches. the international scientific community took a doomsday clock to two minutes to midnight. the first time it did that since 1953 when the soviets tested their first h-bomb. underscoring the threat too the world and international peace. underscore the risks we are talking about if these talks fail. >> nobody has been able to stop them from testing or from shooting icbms. so it's a very real problem that
a regime like north korea, starving their people, would have the ability to reach past their borders. even without nukes, there are is a demilitarized zone with 150,000 pieces of artillery a rockets within 20 miles of 20 million people in seoul, south korea. and there is the conventional threat to a town 30 miles away. there are hopes we could be successful. but it's very seldom you see somebody give up their nukes in a 4 or 5-minute talk. charles: we saw the testing from the grandfather's to the
father's regime. the success they have, the accuracy is not necessarily there, but the range is there. it's only a matter of time before we can pinpoint any i in america. so i would think that the clock is tic. i don't think anyone wants to do that. that might be the logical conclusion of the only way to get rid of that threat. >> one thing for sure. this meeting is the beginning of a process. it's not going to change anything militarily in the near term. the rules of basic firearms safety apply to military affairs. you assume every gun is loaded and you don't point at anything you don't want to destroy. ly thisha the reality of that kind of threat and the risk of proliferation. but we have to try to bend this
curve sometime. clearly something changed in the conversation between the leaders of north and south korea. i think it's appropriate for the president to go to the table and hear some details face to face. and we have to take very, very seriously the next time any kind of icbm is on the launch pad, and hopefully the talks about get to the point where they will pull that showmanship back. charles: what would signify to you that both side reached enough an agreement that we are taking it to the next level? what kind of framework would you like to see come out of this? >> if they are going have another talk. if the details of the secretary of state and the white house and security council will have to do, that will have to continue. we have a couple hundred thousand civilians, 500,000,
600,000 soldiers. there are things on both sides. my hope is this talk goes well and we announce whether both side say great things about each other or not, they will have continued talks. whatever is going to happen it will have to be verified. it's a long process, but a great first step. charles: maybe we are getting too optimistic. but from mike pompeo and others we are hearing a lot of positive chatter. thank you for your expertise. we'll be right back. how do you win at business? stay at la quinta. where we're changing with stylish make-overs.
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charles: all the major indisease finished higher. the market sort of stumbled into the close after all these attempts to gain traction. they all came up short ahead of the singapore summit. there wasn't a sense of panic. just a lack of a captain list to propel this market higher. you pick the new york stock exchange, you can find them. you saw' only 52 new lows. the investment theme i have been pointing out continuing to work big time. the consumer stipulate manies were the best performing of the session. we are talking about classic bottom fishing. household names that have been around for generations. so smart money, long-term money are attracted to these names.
one of the reasons why you might have fast-money trade in these slow-moving games. we saw two names written' off for dead up big time. restoration hardware, a name i know a lot of you have from watching this show, up 15%. restoration hardware will be up 250% from its low if this continues. we have entered the age of the century. that's why the ancient economies are going to surge past western economics. that rings awash in cash and there will be no shortage of funds to jump-start that north korean economy.
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rights abuses will be discussed. they have been likened to that of the nazis. the question is, will president trump make this a priority? kayleigh, we know a week ago reporters had an impromptu discussion with president trump, d one brought up the question whether this had been mentioned with the right-hand man of kim jong-un at the time. do you know if president trump will make this a major issue in tonight's conversation? >> i think president trump has one major focus and that's denuclearization. then we are talking about global human rights, not being at risk of a nuclear war. ultimately a nuclear deal that will be very broad will help the people of north korea, bringing
north korea into the diplomatic and economic modern world. that will ultimately help the people of north korea. charles: so many things they talked about was extortion, rape, persecution based on political, religious and gender ground,orcible transfer of populations. millions died of starvation. so you are saying that if somehow we get the nukes out of the way, then that moves up the chain and becomes a priority at some point? >> i think they are tied together. you look at denuclearization. that would entail getting access to north korea. inspectors getting access. that opens up north korea which will benefit and help the people. let's look at a clue president trump has given us when he tore up the obama iran deal. he said a ultimate nuclear deal
with iran must take into account the people of lawn have been suppressed by this dictatorship. similarly i would expect they would take this into account. if you want to get to denuclearization and human rights for the people of north korea, you have to be strategic and play a game of chess with the north korean dictator. charles: joining us now from singapore. olivia, you specialize in this area. you know it very well. the idea th is not on the table has caused a lot of criticism. but this is a big broad, ranging rogue regime and there are a lot of things they are doing against humanity. >> yeah. we are already experiencing history here with this upcoming summit. but president trump has the
opportunity to blow this summit out of the water by taking a historic step and making human rights an agenda on the trump-kim summit meeting. this an exciting opportunity. president trump said at the end of the g-7 he does plan to human rights issues and maybe press for the closure of prison camps. he has to not only move the needle on denuclearization issues, but he's got to improve human rights conditions in north korea as well. charles: if we are talking about having a u.s. embassy in north korea, there is no way we would do it under the current circumstances with the way kim jong-un is treating his own people. >> there are 80,000 to 120,000 individual in prison camp. they don't have a voice at this
upcoming summit. but president trump has the opportunity to be the voice for those people. to be the voice of 400,000 individual who have died at the hand of the kim regime and the prison camp. now is the time to place the issues on the agenda. i think it can advance some of our goals on denuclearization. charles: president trump made the overture about economic improvement. they have been ranked 180 out of 180 on economic freedom. if you see a better economy, is that a threat to kim jong-un or could it eliminate the human rights violations and make the overall country better? >> i think we have seen positive growth in the informal economy which is giving them access to
information and technology. this is in large part due to sanctions that have been implemented which forced north koreans to seek alternatives to the mandated state provision of food and otherwise. i think a victory the trump had ministration should claim from their maximum measure policy. charles: olivia, thank you very much. hope they bring you back real soon. we are just about two hours away, and it's time to go to singapore and begin the final countdown to this historic summit. we'll be right back. 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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in just about 2 hours, president trump and kim jong-un will meet there. an historic summit. joining us now. former steph director. back with usebecca grant. what do you anticipate, what can we expect to happen tonight? >> i think realistically, we should have low expectations, we should hope for a good introductory meeting between president trump and kim jong-un. optics will be important. critical thing is they have follow-up meetings. ived some criticism, some suggesting he is under prepared on this. as a businessman, this is kim
jong-un's first across the table jong-un up.e ability to sum kim >> he could do that president trump is very prepared. he has been talking with his cabinet, and he has worked so hard on it. like y said, it will be go, no-go, he will know soon, president trump is offering kim's precious opportunity to do something really good for north korea. charles: i think about the meetings kim had with south korea county part. last unscheduled meeting met on north korean side of the they gave each other a bro hug.a framework where he wants to get something done, no matter
alterrier motives a month or so ago? >> i hope he is, and i hope that the chinese government is going to let him do the things he needs to do to get to a real deal with the united states we under estimate the role that china plays, north korea depends on china. kim can only go so far as china will let him. the real question will be, what is china going to let him do. charles: what would options be in your mind? cha does not want a refugee problem, or nuclear problem, they are trying to carve out that space for themselves. anything to get u.s. military to back off would be good for them. >> yes, i hope president trump has worked hard, i think he has to persuade china. that not best way to go, china has cooperated with us to some
extent in pressures north korea. charles: rebecca. china has militarized those man-made islands, even during the trump administration, not missing a beat. it feels that we're looking the other way possibly because we're trying to get this north korea deal together. is this all part and parcel of the package? >> north korea are over it denuclearizing north korea good for china too. but that does not take away from fact that president trump will have to deal with china's military aggression and the role in the pacific longer term. charles: real quick. we get a communique they will continue to meet, both sides are pleased, it that the best we can expect? do you think we'll get it. >> yes, we'll see more meetings, concrete steps toward denewsing
a and -- denuclearizing a and a little bit about peace in summer. charles: we're on the verge of history this historic event, you are going to watch it we got you covered. up next, lie, lou dobbs. lou: our top story, history will be made in singapore no matter what the american president and north korean leader agree up owner agree at all. in two hours, president trump meets with kim jong-un face-to-face, in no way an over statement, saying this is a summit with potentially massive implication for korean peninsula, united states and the world. >> i think within the first minute, i'll know. just my touch, my feel. that is what i do. lou: our all-star lineup of