Skip to main content

tv   Making Money With Charles Payne  FOX Business  October 31, 2018 2:00pm-3:00pm EDT

2:00 pm
landlord. your money goes into your own purse. connell: maybe they're realizing that kind of thing. good story. thanks, gerri willis. >> most welcome. connell: "after the bell," join me and melissa. quick programing note, 8:00 p.m. eastern tomorrow night, trish regan, prime time, the vice president joins us. here is charles payne. charles: good afternoon, i'm charles payne. this is "making money." strong earnings, economic data out, lifting this market. we're staging the best two-day rally in years. plus the countdown to the midterms. here is final push for republicans. boys to men, driving force sending stocks prices higher. all that and more on "making money". last day of the trading month.
2:01 pm
stocks fill on pace for the worst month in years. general motors, estee lauder, yum, all crushing estimates. here to break it down shah ghailani, fox news contributor jonas pharis, founder of max funds.com, fox news contributor, gary kaltbaum, president of kaltbaum capital management. gary, you're remote. we'll start with you. not bad two-day rally, up. combination of earnings, good economic data. what are your thoughts. >> i thought it was due last week, i'm a little bearish. i'm bearish believe it or not after 800 points. i would rather see the market go up rather than down. february like in the sharp drop. it took three months to repair all the damage before the market could get real traction.
2:02 pm
let's hope this is a start. as far as earnings, been for me, somewhat mixed. good to see gm beat. i'm not a big fan on facebook numbers. i think they sandbagged. they have decelerating numbers. i think apple will matter a little bit. i'm hoping we put in the low. i'm not sure yet. charles: gary talked about a one-two punch. february was rapid rise of yields. fed would mess it up and trade war, march 22nd and 23rd. that was the one-two punch. a lot of people feel the opposite. one-two punch getting through the midterm elections and earnings. what do you think, jonathan. >> i think all earnings are pretty good. everything is great on paper. i don't think it was the trade war. rapid increase in interest rates. we're about to see if it causes it again.
2:03 pm
10-year is going to 3.25%. that started global panic. investors are not confident the world can hand el higher interest rates. looks like buy on the dip moment. if we get back up to 3.25 or higher without stocks going down. that is sign of confidence in the market. charles: in today's session, we've seen it tested what jonas was talking about. we were up almost 400 points. gave up 100 after the wage and salary number came out. best pace for wages and salaries in a decade. that brings the fed into play. we pull back. we're heading back towards highs of the session. i like tests of market. i like the market to be tested although not necessarily as much as we were this month. >> testing has bonn well. fundamentals are strong. consumer is strong. everything how it translates into stock prices has been strong except stocks have beaten in earnings.
2:04 pm
they get hammered when rest of the market goes down. gains erased in hour, not a minute or two. charles: does that make it easy for you so when the dust clears you know what to buy? >> there are a lot of stocks for sale. i'm worried we haven't seen the bottom yet. i worry we move up this quickly, investors don't have a chance to get in. they already left. general motors is up 21% in 15 days. if you like the stock will you chase it higher? charles: i bought a stock in my own account my clients have about 15. i paid almost 19 for it today. so i did chase it. i feel better i'm in higher price than them. i think it is finally really breaking out. gary, right now, year-to-date, material names, the material index is down 14%. industrials down 8%. energy down almost 8%. financials down 7%. staples down 2%. real estate down 1%.
2:05 pm
even if we close at highs of the day, internal damage is horrific. this is not a dart throwing year by any means. is there value in some of the names. to shah's point, there is good news among the carnage here. >> i'm always a big believer the market will tell us where the value is. i don't try to inject my opinion on value. but look, even before the market topped in october, a who's who of industry were already in some, brutal bear markets, so, yeah, they're coming back some, but things that were down 50% are down 40%. you know, i did a little report today about facebook. down 78 points. up 14. i'm not so sure that is a great recipe longer term. to just get back some of it. but again, i'm hoping we've got the low. i have a sneaking suspicion in things worsen, powell may not raise rates, which won't hurt. i like the fact that energy prices have come down some. i like the fact that we're back
2:06 pm
under that 3.25%. i'm just going to watch very closely. 800 points in a day and an hour, doesn't really drive me nuts because i do know in bearish markets, rallies are stronger and then they, depress you soon after. but i'm willing to give this baby a chance. so far so good. charles: i think between 1929 and 1944, whatever, there were a couple dozen, quote, unquote bull market rallies in that massive bear run. what is the buy signal, would you say, jonas for folks watching? i would say overwhelmingly, people say how do i buy this dip? when do i get in? people are wondering when the smoke clears, buy the dip worked almost a decade. >> works 90% the time. you don't know that 10% time where it falls 10%. if there is no economic damage in real estate, that is a good
2:07 pm
sign. they will be good deals if we don't get recession from high interest rates f we get a recession, they will all go down. a short-term thing might not work in bear market, money out of risky tech is going into consumer staples. they go down when tech goes up. be in the etf without the instability in the markets. >> charles, the biggest sign that tells me the coast is clear is the retest. if we retest successfully, not going back down to the lows, show good relative strength and see some damn good leadership i call it, really see things popping out on volume. i will be in good, happy in good stead. so far we got a good reaction off of a big, big, ugly drop, just all i'm considering as far as this second. charles: shah, bring you back later in the show. get your buy signals. how people know when to buy, perhaps what to buy. thank you very much shah, jonas,
2:08 pm
gary. later in the show, google is trying to sensor a new political ad from marsha blackburn from quote being too shocking. this may be the worst october in the market since 2018 but there is fresh evidence our economy remains on fire. that's next. ♪ vo: old and even inaccurate search results can
2:09 pm
destroy a business or a career in an instant. reputation defender is dedicated to help people restore their true online reputation. we believe all americans should have the right to be forgotten online, the right to remove old, inaccurate search results. if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705 and join our campaign at righttobeforgotten.org
2:10 pm
show me movies a grinch would love. [ bark ] nu uh, i'm picking the movie tonight. [ whimpers ] be sad, i enjoy it. show me grinchy movies. oh, goody. [ whimpers ] mmm, fine! show me movies max would like. see the grinch in theaters by saying... "get grinch tickets" into your xfinity x1 voice remote.
2:11 pm
[ laughing ] uh oh. something in my throat. we're all under one roof now. congratulations. thank you. how many kids? my two. his three. along with two dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. charles: more evidence out today our economy is on fire. just out, private industrial worker, wages, salaries, gaining 3.1% in the last quarter. that is the biggest surge in a decade. benefits up 2.5%. the overall compensation up 2.9%. also impressive gains in dirty
2:12 pm
fingernail jobs i always talk about, because i think it reflects the heartland experts say that jobs that were gone forever. we used to say in the country for a long time what is good for general motors is good for america. i think that is the case this morning. general motors posted strong revenue and earnings americans paid higher prices for automobiles because they had the cash. they could afford to do it. robert wolf, david bahnsen. david, let me start with you, the adp number, we get that on friday. i think it's a fine report, in many ways even better than the government data. 227,000 jobs. the street was looking for 189. pretty good news. >> yeah. it's a good number. we'll have another good number on friday. what we've been doing for quite some time rolling averages of three months at a time to sort of take out various month by month lumpiness. i don't know that anybody
2:13 pm
disagrees with your conclusion the job data is very good. there are low amount of unemployed people and the people employed are making more money. charles: robert if no good jobs number, anytime wages go up it is a good thing. if we look over past 20 months, under president trump average job gains were 188,000. under president obama, it was 211. we had 40 straight months of 200,000. not surprising by these numbers. anytime gm is doing well. anytime industrial america comes back we should be applauding. charles: that is the point i point to, mining jobs, construction jobs, manufacturing jobs, 38,000 of them according to adp, a lot of people think we can generate the jobs. >> what upset me about the gm numbers, because they were obviously very buoyant. but they will ask 18,000 salaried workers to take early retirement. so they're getting nervous for
2:14 pm
the future when they're trying to cut costs. if you look at their numbers, they did very well on high-priced cars, high-end suvs, they did well on those margins. as far as auto sales generally, not going so well. anytime, kind ever doing good for the corporation, asking workers to being cut that is not a good sign. that makes me nervous. charles: i tell you, that is discussion i have had, segment i call corporate virtue signaling. you can dovetail that to buybacks while laying people off. i think americans, david bahnsen, are buying these expensive suvs or have the ability to. it is pretty interesting. we have seeing the death of the car in this country, despite you know, paying more for suvs and crossovers, having higher fuel bill, that might be the ultimate sign of consumer confidence? >> well, it is interesting data in the overall auto sales world. for one thing we have to
2:15 pm
separate leading indicators from lagging indicators. things are taking place tell us about the future, what is to come, versus things that tell just got done happening. the problem, charles, you and i talked about this before on air. we had a significant amount of financing incentives in 2014 and '15 helped pull a lot of sales from the future into the present at that time. i think it distorted some of the numbers throughout '16, '17. there is ambiguity how how the numbers look. the market overpriced and underestimated what gm's numbers would be. they outperformed. the stock got rewarded today. i'm not trying to rain on your optimistic parade, you and i share optimism for the american economy but i don't think you can overlook this one company, this one quarter. i don't think you need to. i think 77% of companies outperforming earnings expectations and 25%
2:16 pm
year-over-year profits growth across the s&p 500 is optimistic enough. we don't need another story to validate what has been a real earnings renaissance. >> i would agree with david on gm, you and i spoke, it may have been last week, on ford. okay they missed completely. obviously china is hurting them, tariffs are hurting them. they talked about costing 1000 plus jobs. charles: somebody pulls up a four year chart on ford. i'm writing a book on the market now. one of my case studies is ford and general motors. ford is a company that totally blew it. i wouldn't use ford as proxy for u.s. economy. no. the, they're reorganizing. i think that is not a good one because ford is a company that absolutely blew it. in many, many ways, but what about these other companies that are reporting? i'm seeing from variety of industries doing extraordinarily well? >> feels to me this was a very strong earnings season. i know some people think it
2:17 pm
mixed. doesn't feel that way to me. feels we had good earnings. the question do they feel the same going into 2019? the one thing i don't want to rain on anyone's parade, i hope the economy continues but friday's gdp number had a lot of negatives. industrial production, inventories. >> inventories were up. inventories up, came up better than wall street expected. consumer was extraordinarily strong. >> consumer was extraordinarily strong. charles: 2/3 of the economy was the consumer. >> government spending was 300 billion. our deficit will be over one trillion. we could have the fiscal responsibility discussion again. charles: those are good topics you have to admit the gdp number was better than everyone thought it would be. >> i would agree but there are some negatives. >> charles? >> make it quick. >> key ingredient in the gdp number one has to be concerned about is cap-ex. cap-ex is needed to drive productivity.
2:18 pm
the tax reform is supply side initiative. it will produce productivity, but cash expenditures were lower than negative. charles: two things, cap-ex and trade front but i think there was a big, major, major imports get ahead of tariffs. that will go away in future gdp numbers. i believe businesses will step up investments. thank you both very much. always a great conversation. >> thank you. charles: meanwhile president trump, he is going crazy, barnstorming, 11 rallies, six days ahead of the midterms. how will republican candidates, how will it help or hurt some of their chances? our panel will debate that next. ♪ only half the story? at t. rowe price our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce spurring cardboard demand.
2:19 pm
the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence. their medicare options... before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs.
2:20 pm
this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company now or visit aarpmedicaresupplement.com for your free decision guide about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire,
2:21 pm
find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. to learn more about the range of aarp medicare supplement plans and their rates, call or go online today to request your free decision guide. oh, and happy birthday... or retirement... in advance. charles: six days to the midterms. president trump will hold 11
2:22 pm
rallies in different states ahead of midterms. he is kicking off in florida. the question is, how much help will the president give these candidates? will it be enough to keep control of both house of congress? ford o'connell, civic forum pact and democratic strategist robin biro. what i'm hearing more and more, ford, you told me before everyone else, feels like everyone is resigning privately on republican side they will lose the house? >> i think there is outside chance the republicans will hold the house but democrats will net roughly 30 seats and nancy pelosi will be speaking again. frankly i don't think donald trump should be blamed, given average midterm loss is 25 to 27 seats. barack obama lost 63 seats in his first term. the reason very simple. 42 republican house incumbents decided to retire and standing up fighting for america. if we do lose the house, that will be primary reason. charles: it is interesting too,
2:23 pm
robin, political psychology, if you get a speaker pelosi that helps president trump in his re-election campaign, it may actually hurt democrats because you have the old guard, the same old names, all 70, 80, 90 years old running a party where the youth want revolt and want their own voice. >> you nailed it, charles. that is my concern too. you know i have come out against her speakership, and i think that it would be greatest gift for republicans if she were to be reelected speaker because we desperately need some new blood. there is not a cohesive national message. i applaud the d in the c for their 435 district strategy, it's a bold move but that doesn't give us a cohesive national message. that is what we're missing right now. so i'm cautiously optimistic, but let's emphasize that on cautious. charles: ford, on the notion of, sort of, democrats holding the house and president trump's
2:24 pm
agenda, what sort of impact does it have? could there be places where you see compromise? >> i'm not sure that you are, because you have to understand what nancy pelosi and democrats are running on, that is hate trump. essentially they will launch so many investigations into the trump administration, and they are going to use congressional oversight to push their agenda, that essentially i believe the country will probably come to a grinding halt, i fear so might the economy because the democrats are not interested in putting america first. they're interested in actually getting trump. that is the sad part of the whole ordeal. charles: this incivility crisis this country is embroiled in, politicalization of almost everything single thing in our lives. in fact one of the big news items today is google, reportedly blocking a campaign ad from gop senate candidate marsha blackburn, for being quote, too shocking. here is a portion of it. >> a moment of silence. >> marsha blackburn is a white
2:25 pm
supremacist. [shouting] [bleep] [bleep] charles: robin, is that too shocking? >> it is, you know, just entire political climate right now is just toxic. it is not what we need going forward. i think americans are desperate to hear democratic ideas. not just resist. not just obstruct, but actual ideas about what we can do, our ideas to push the country forward. we're not getting enough of that right now. i agree ford with a lot resist donald trump. that will not play that great headed into 2020. that is my greater concern, charles. charles: ford? >> this is not the first run-in marsha blackburn had with big tech. how come big tech only seems to sensor republican candidates for office not democratic candidates? if he they are putting thumb on
2:26 pm
the scale, give in-kind contributions. 80% of the u.s. searches start with google. if google shutting down what republicans putting out there, how will we get our message out. this is unfair and showing their partisan nature. charles: ford, this effort president trump is putting forth. i never see anything like it. his energy, his resolve, his ability to make these barnstorming events, one after another. he did it for himself. we've never really seen anything like that. the fact he would do it for other candidates, even going against history, how important is that for the party overall? >> i think this is strategically a smart use of trump's time and an effort to turn out that 2016 trump voter. essentially, look he is going to places where he is popular. he is going to places rural and exurban. he frankly generates the most enthusiasm in the republican party. he has the biggest megaphone. he and air force one are the biggest asset republicans have, full stop, my friend.
2:27 pm
charles: ford, robin. very much appreciate it. >> thank you, charles. charles: data shows china's economy continues to hurt even a lot more from the trade war effect. will this help push china into making a deal? we have a very special guest next. ♪ i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet? moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin.
2:28 pm
don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. for all the things that move you. ask your doctor about taltz.
2:29 pm
so, let's talk about conference calls. there's always a certain amount of fumbling. a lot of times it doesn't work. we have problems. comcast business goes beyond fast.
2:30 pm
by letting you make and receive calls from any device using your business line. and conference calls you can join without any dial-ins or pins. (phone) there are currently 3 members in this conference. i like that. i like that too. i would use that in a heartbeat. get started with innovative voice and tv solutions for a low price when you get fast, reliable internet. comcast business. beyond fast. comcast business. betty called me at she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day.
2:31 pm
charles: signs the chinese economy feeling the sting of the trade war with the united states. the latest purchasing managers index, very important gauge of its economy, declining for the second straight month, weakest manufacturing growth in two years. joining me to react, senior fellow and director of chinese strategy at hudson institute, author of the 100 year marathon, michael pillbury. it is interesting, the title of your book is why a lot of people say we can't beat china, because you know what? they have at least a century, they're looking out a century. xi is a defacto dictator. they don't have to worry about the press criticizing him. the people will fall in line. this is really a battle we cannot win. >> no, i think we can win it, charles. it will take president trump's continuing determination to increase the pressure on china. i think, you would agree with me that has been happening so far.
2:32 pm
the key issue now as president reagan used to say is stay the course. the pressure is going to work. i think the chinese delegations here in washington unofficially have been sniffing around for what a is a low level, low-ball offer they can make to make this all go away. it is not what they're looking for is not enough. the president is focused on more jobs. our own economy growing faster, better treatment of our companies and frankly he has a lot of bipartisan support. you remember when tariffs were firsted announced senator chuck schumer was onboard within hours. nancy pelosi has history of backing afl-cio with tariffs on china. he has a winning hand. but the question is, can he get through the midterm elections with some success? that is what the chinese are counting on. he would have a set-back in the midterm elections and ease off the pressure. i think that is not going to happen. charles: i think also, michael,
2:33 pm
what the chinese may be counting on is a hostile press. >> yes. charles: there is a financial network out there, every single guest, the first question they ask them about is tariffs, even if the company says hey we missed revenues because of currency, by the way over well mingly number one issue of companies reported. not tariffs. i listened to conference calls. the company is saying it isn't tariffs, the but they're lying it is tariffs. anytime we have hiccup in the economy or stock market, they say see, we're losing. >> i agree with you in general. there is growing skepticism on part of some in the press. you yourself are in the lead here, charles. the chinese are getting more and more send advertised to bad --
2:34 pm
sensized to bad press. military technology, things being stolen, the road initiative to entrap poor countries giving up their ports. china is, has got to rethink, do they want to this global goodwill. i can teach you chinese i heard them to say. what they don't want to say is this one sentence. [. [speaking changes] we have acknowledge that we have broken wto rules. they're still denying. it may happen in the coming month or so. charles: stuart varney had a mentalist earlier, he did great thicks. i like what you did there. i'm more impressed with that. before i let you go, when president -- >> we all have to learn chinese, charles. charles: unfortunately, yeah,
2:35 pm
because, well anyway, mandarin i think i will have my grandkids learn. when president trump was interviewed by laura ingraham he said he wants to get a deal done quickly. the first time i heard him say that. is there some truth to that? do you think the administration would like to get this resolved sooner, rather than later? they're not taking it personal, there is not about breaking chinese economy? >> i think the president means what he says. his intention is not to harm the chinese people or the chinese economy. he does want a deal but he is very clear that the chinese have not made their first offer. that is the problem we face. the pressure is on them, the economy is going down, they're still very stubborn. they won't make the first generous offer. charles: michael, thanks very much. appreciate it. >> thanks, charles. charles: after the headlining grabbing visit to the oval office, kanye west says he is done with politics. his reason? coming up next.
2:36 pm
♪ [ phone rings ] hi, tom. hey, how's the college visit? you remembered. it's good. does it make the short list? you remembered that too. yeah, i'm afraid so. knowing what's important to you... it's okay. this is what we've been planning for. thanks, bye. that's what's important to us. it's why 7 million investors work with edward jones.
2:37 pm
i was blessed to be part of building one of the greatest game shows in history. during that time, we handed out millions of dollars to thousands of contestants. and i thought, what if we paid the contestants their winnings in gold instead of cash and prizes. back in 1976 we had a wonderful contestant named lee, whose three day winnings were valued at $12,850. and you know what? that was a pretty big haul back in 1976. so, i wondered. what would have happened if lee had put $12,850 in cash, and then put $12,850 in gold in a safe? just sitting there, side by side, from 1976 until now. well, i went back and i ran the numbers and what i found was amazing. we all know that $12,850 in cash would still be sitting there. but, it would be worth a whole lot less than it was in 1976.
2:38 pm
but that $12,850 in gold, safely stored away? it's worth $135,000 as of the taping of this commercial. now that's more than 10 times the original amount. and that's why i've been putting my money in precious metals for years, and i don't see any reason to stop now. - [narrator] don't wait until the next crisis, get started securing your financial future today. if you have bought gold in the past or you would like to learn more about why physical gold should be an important part of your portfolio, simply call to receive the complete guide to buying gold, which will provide you important never seen before facts and information you should know about making any gold, silver, or platinum purchase. - [ philip] don't wait until it's too late. call to get your free copy of my new u.s. gold report. inside you'll find 25 reasons i've covered on gold ownership. and start owning gold today. - with over a quarter of a million clients worldwide,
2:39 pm
we're one of the most dependable gold distributors in america. give us a call today to get started. is. charles: six days to go to the midterms. president trump standing firm to end birthright citizenship and slamming speaker paul ryan for dismissing the plan. president in a tweet says, paul ryan should be focused on holding majority, rather than giving opinions on birthright citizenship. something he knows nothing about. we will work this closing immigration loopholes and securing our borders. in earlier tweet trump promised woe -- quote, that this case will be settled by the u.s. supreme court. could this work its way up to the supreme court or is this a trial balloon? joining to us discuss "weekly standard" managing editor, kelly torrence and campus reform editor-in-chief,
2:40 pm
charles joneses. charles, let me start with you, everyone became a constitutional scholar yet again. it is interesting, republicans in the senate, a mixed response. most of them kind of suggesting they're on board if it goes through congress. >> yeah. it will be interesting, charles. it is comical seeing democrats now suddenly being concerned about the constitution but they may have an argument. it is going to the supreme court. i'm not sure that roberts sitting on the court or insider like kavanaugh would vote on the side of the president. you know, the 14th amendment was used back to free black slaves but it has been a lot of judicial scholars said that this would protect illegals coming here to have babies as well. it will be interesting debate. i don't think the president can quite win this with the current supreme court. charles: the author howard, reading his writings, suggested that wasn't his intent at all, kelly jane.
2:41 pm
we wear our constitutional law hats even if we don't have them. >> exactly, charles. that is one of the funny things, everybody seems to think that every constitutional issue is very clear-cut. well this is why we have such strong debates about who is going on the supreme court because we know these issues are hotly debate deed. you have a lot of 5-4 decision. not like the court reaches consensus very often. to say definitely in the constitution, applies to illegal immigrants, because we don't know, the phrase, who are subject to the jurisdiction thereof of united states. others say no, no, this clearly is a loophole. to me it is unclear. you will have lawyers who will be debating this for quite some time. charles: it is interesting, that european countries, european allies already have this in place. it wouldn't be outside the realm of developed nations like the oecd nations if we had this rule. we would be in line with most of our allies.
2:42 pm
>> exactly, charles. it is kind of funny assuming, everyone has birthright citizenship. there are a lot of exceptions. i would prefer something like this be do through congress but i hope those complaining about a possible trump executive order on this i hope they also complained about president obama's executive order creating dreamer program. presidents of both parties using executive orders because they don't think they will get support in congress for what they want to do. charles: this is really indictment on congress on both sides. both political parties, they are a do-nothing congress for the most part. it will be worse if we get a divided congress after november. i want to shift gears here a little bit. kanye yes, sir is been in the news big time. he announced on twitter, he will get out politics, because he being used to spread messages that he doesn't believe in. lawrence, what is your take on this. >> i warned this would happen on
2:43 pm
your program, back in the day. kanye never said he is conservative. he is independent thinker advocating for a lot of things that black people have experienced. the republican tried to take advantage of that. conservatives tried to take advantage of that, without focusing on black issues. candace had a genuine heart. trying to bring kanye to the table, as well as issues to the table. the way they approached this was problematic. look the republican party hasn't got enblack votes since 1964. the republican party needs a strong message for black people, in order to reach them. there is no shortcuts to this, charles. this is issue happened before kanye and before candace. this is issue black conservatives need to come together to talk about. it can't be pandering to white voters. needs to be for actual people in the community. >> although kanye brought up things in the white house meeting that were against president trump. >> correct. charles: i, by the way i read
2:44 pm
candace's letter. hold on, president trump is here, folks. before he starts to talk, kelly jane. i read candace owens letter. she apologized for some things that happened. i like the fact he accepted the invitation to the white house. he pushed back on president trump expressing issues. >> you thought -- charles: let's take the president here. >> i'm larry kudlow. i hope i'm hooked up with the mic. i believe i am. we are, we're here to celebrate, actually, that is what we'll call this, to celebrate the new american workforce, is what i'm calling it, the new american workforce in the middle of an economic boom. the one person has gone around the country, championing, crusading, so that every worker can be listened to the word, one of my favorite words,
2:45 pm
reskilling. reskilling. we've all -- later on i'm going to ask her about reskilling old broadcasters and nec directors, and maybe more. anyway, the headline here is, you have a new announcement now. this is private sector, okay, private companies, no government, no government money, but dealing with the american workforce, so it can fit in, the missing links between job openings and folks who want to work. ivanka trump, tell us about it. >> thank you, larry. thank you for this opportunity. so we're sitting in a room today surrounded by companies who have committed to investing in their workforces and workers who have benefited and students from those programs. the reality is that we have an incredible economy, a robust economy. and that is because of,
2:46 pm
deregulation, because of tax reform. for the first time in history, we have more vacant jobs than we have unemployed workers to fill them. this represents an enormous opportunity for to us think about making sure that every american worker is equipped with the skills they need, whether they're in high school, they're looking to graduate and have a job, ready for them upon graduation or mid to late career worker looking for an opportunity to learn a new skill, learn a new trade. so we've been doing that. the president back in july announced a call to action where he wanted the private sector to step up, start to take responsibility, take a commitment for investing in their own workforce. they did that. back at the end of july we announced over 3 1/2 million jobs created by companies such as apple and fedex, microsoft, and walmart and some others. since that period of time, more than than 120 additional
2:47 pm
companies signed pledge. and as larry noted no federal fund are involved. creating new enhanced opportunities, creating apprenticeship opportunities. several of those employers are here with us today. we have the ceo from textron who is, has committed to 22,000 opportunities to train workers in the aviation sectors. thank you very much for that commitment. ford motor company is committed to providing 55,000 new jobs an opportunities in the automotive sector. at&t has committed to 200,000 new jobs an opportunities. and ipc, john, the ceo, thank you so much, of this association that represents electronic assembly industry whose members commit ad total of one million new jobs and training opportunities. incredible. >> stand up please.
2:48 pm
>> please, yes. [applause] >> so the headline is you're up to? >> we're up to 6.3 million new jobs. >> which is incredible. [applause] >> and if you think about that in context that represents 5% of the current workforce. so it is really, really remarkable. this is really that call to action, to the private sector to invest in the current and future workforce and, we're going to continue to have the private sector sign our pledge and agree to making this type of investment. with that, while the last event, last time we were here announcing announcing the launch
2:49 pm
of the pledge, we want to focus on work that's benefit from it. in my travels. i've been to job training programs in 14 states across the country. really seen the best in class things happening on a state level. thank you, governor bevin, for all that you're doing and on a private sector level. but i met remarkable people, many who are in this room. i would like to briefly introduce eric, i was just in eastern kentucky with, who went from a job in the coal mining industry to now, cmc machining and structure. he was so good, they wanted to keep him to train their other workers. eric, if you wouldn't mind standing, telling us a little bit about your story? >> like you said, i was a laid off coal miner. i worked in the coal mines for 30 years. worked my way through it all. electrician when i was laid off. found myself without anything to support my family with. what am i going to do?
2:50 pm
unemployment will not do it. i'm not old enough to be retired yet. so i have to work every day of my life. so i got the opportunity through paintsville cap office, give me the knowledge of the cnc machine school that just opened there in paynesville. i was in the first class. went through it, 16-week course. took to it. understood it. become a part of it. they decided to keep me there and i helped with other students. we're on the third class now. we have people working in louisville, winchester, all around the surrounding area. those guys, they want to come home too. they want to work there in the area. we're hoping with the school, and the jobs that, we're creating, it will bring industry in. we'll all flourish, just bring it on. so. [applause] thank you.
2:51 pm
>> i saw first-hand, i saw first-hand just how amazing eric is, the work that he does, the instruction he has given to so many in that facility. really amazing. stasia, i met you in houston and is currently training to be an apprentice and is valedictorian of her class, graduating i believe in just a couple months and is looking forward to a career as a pipe fitter. i should also mention that you're a marine corps veteran. so would you share your story with us, stasia? >> just say it. i'm stacy from houston, texas. i'm proud mother of two boys and i'm a marine corps veteran. my eldest son is marinas well stationed at cherry point. in the marine corps i found myself unemployed, doing a bunch
2:52 pm
of dead end jobs. i wanted more than a job. i wanted a career. i was approached snb for their earn while you learn program. at that time i was kind of discouraged because oil and gas industry is not an industry that has a lot of respect for woman, has a lot of respect for females. i went in and spoke with my pastor. my pastor gave me words of advice. she told me, be the change that i want to see. be the woman that can go out there to make the difference, earn the women's respect. so i agreed to the women's apprenticeship program from snb. this is 16 week course. i am on the 11th week. i'm the valedictorian of our class. i appreciate snb for the opportunity, not only do i have a job but a career. i have a career i can lean and and look forward to and make
2:53 pm
me -- [applause] charles: go to president trump when he starts to speak. 6.3 million jobs pledged by 164 companies. here with reaction, kelly jane torrence remained with us. we brought back robert wolf and lawrence jones. lawrence, start with you, a woman, a marine corps vet. came back. had some difficulties. now she is apprentice, her son serving nation. i love somehow getting private sector involved with government guidance and apprenticeship. this is one of the keys to getting, i think shared prosperity. >> this is one of the benefits you get out of a trump administration, a guy that knows how to put people back to work. one thing, i love about this is that the president is a great listener. he always brings people n we were talking about kanye. he brought, he brings people, unusual people in the white house. hears their concern, tries to find some of a solution.
2:54 pm
this is being demonstrated right here again. putting americans back to work, sharing that story for the other american people to do. guess what, they didn't have to get indoctrination from some liberal school. went to trade school. got the education they need. we need those jobs filled. charles: robert, you raise money for small companies, medium-sized companies. you're bringing to life in your own personal life. what do you make of this. >> i'm think i is fantastic, making presidential comparisons when i was on president's bipartisan recovery board, run by paul volcker. we announced skills for america's future. it was similar playbook. i agree. we have to give it back to the private sector. there is a similar situation where there is a skills gap. this is great. i only applaud it. charles: was, were the things happening then, in that particular program mistakes perhaps, that you would suggest to the administration now, hey,
2:55 pm
you know we did this, that didn't work that didn't work? >> back then we were focused on stem. there were millions of engineers jobs, we were focused on that. this is focused more on industrial america. that is equally important. we have to get the skills gap changed dramatically. charles: the first guy we saw who was in kentucky a prime example of that i call them dirty fingernail jobs. every time i see the news i love they're coming back. i love americans who had given up hope, those are the americans who had given up hope they would get a good-paying job again, kelly. >> exactly. i hope, this seems like a great program. i hope it stays or decentralized. it is private companies. it is lower levels of government that really know what's needed in their areas, what kind of jobs are needed. you think about the fracking revolution, right. these are not jobs you could have necessarily planned for years in advance with discovery
quote
2:56 pm
of oil we couldn't get out before you have new demand for those jobs. that is something government often can't predict. they can do guidance but i think day decentralized. charles: we're down, just in construction, we have the same issues. >> i chime in. i agree with kelly. we have to make companies just got put on the bully pulpit to the president accountable for jobs they're saying. i would like to see a chart, those people said a million jobs, let's start counting them. they got the accolades today. charles: go back to president trump and larry kudlow. >> we've grown 3% plus. 18-year high at consumer confidence yesterday, the day before. how did you do it? what is the message here? >> we did it with a lot of good thought and we did it with a lot of great people like we have here today some people will go out of that and some people will go into that, because frankly, it is
2:57 pm
really, as you know, you see what's happening, it's doing great. we have the governor of kentucky with us and he has been met. please, stand up. please. what a job he's done. he can tell you how well it's doing. we have a lot of other industries doing well. you really have your choice. you didn't have your choice just a few years ago and now you have a choice because our markets are so strong. the job market at 3.7% is the lowest in 50 years. it's the best unemployment numbers we have in 50 years. that's wonderful but we actually need workers now. that's a good thing to be saying because it hasn't been said for many, many decades. we want people to come in, you have all been reading about the immigration situation with the caravans and all. the fact is, we want people coming into the country. we want them to come in legally. they want to come through a system that we have set up and that we are really setting up well and they want to come in and we want them to come in through merit so that they can
2:58 pm
help these companies, because we have just in japan alone, we have six major car companies going to open up new plants and coming into michigan and coming to ohio, coming to a lot of different places. we have a lot of car companies coming. we have a lot of companies, period. foxcon in wisconsin is an example. we are cheerleaders, that's a big part of it. we are cheerleaders for our system. we are getting rid of the bureaucratic blocks and a lot of regulations which you know are very important. tax cuts are a big factor but before we did these really massive tax cuts, the biggest we've ever done, we did regulation cuts. quite a bit before. and the economy was really going very well. then you added to that the tax cuts and other things that we have within the reform bill.
2:59 pm
the end result is we have the hottest economy in the world. the stock market is getting up to 60%, if you think about it, that's incredible since the election. in fact, i hear today it's doing well. it's up another 400 points. it was up 450 and some points yesterday. it's just -- well, i will say this. waiting for the results of the midterms, if the midterms for some reason don't do so well for republicans, i think you are going to lose a lot of money. i hate to say that. i think you are going to lose a lot of money. people are waiting on your 401(k)s and everything else. they are waiting to see what happens with the midterms. if it comes out good like we think it probably will, because there's a good feeling, lot of people voting. go out and vote. but if it comes out good i think the market's going to continue to go through a period that like we have never seen before. >> it's a healthy economy. you know, the gentleman over there said bring it on, i love that. i say that american men and women in business and the work
3:00 pm
force are crushing it. we are the hottest economy in the world right now. trillions of dollars are coming our way. let me ask you this. very unusual. when you look at the statistics, god forbid we should use a factoid, we are experiencing record blue collar employment increases, the likes of which we haven't seen since the middle '80s, okay, when i was a cub scout for reagan. we are looking at blue collar wage increases are rising faster than white collar. i'm not against white collars, but i'm just saying this is the blue collar middle class trump economy. how do you account for that? >> well, if you remember the previous administration said there won't be any more manufacturing jobs, you are going to need a magic wand and all of that. well, we had the magic wand because we have almost 600,000 manufacturing jobs t

28 Views

info Stream Only

Uploaded by TV Archive on