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tv   Making Money With Charles Payne  FOX Business  March 27, 2019 2:00pm-3:00pm EDT

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they were worried a lot more when a lot of people were freaking out on the impact it would have on mortgage bonds, all of that. that might be a legitimate issue for now. with two hours in the trading day they're easing up on that. here is charles payne. charles: hey, neil. general at this 10 days. rule of thumb. look two and 10 to invert. 10 days is average. shortest period, 140 days. longest 311 days. neil: i really wasn't that interested. i'm glad you explained that. charles: i wasn't sure if you were making small talk or running out the clock. thanks a lot. neil: all right, bud. charles: good afternoon, everyone. i'm charles payne. this is "making money." so far a really wild week on wall street. investors they continue to grapple with a lot of issues that slammed this market on friday. still not sure what is going on.
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what are the fears or potential catalysts. we have some answers. all eyes on boeing as congress beginning a series of hearings of the faa oversight of boeing before and after the deadly crashes of the 737 crash. two street firms says boeing is a buy. i have a special guest. i will ask what he thinks. "empire" actor jussie smollett maintaining his innocence after chicago prosecutors abruptly dropped charges against him. is this another example of the rich getting away with everything? all that and more on "making money." ♪ charles: well the faa is on the hot seat today with officials there from the faa set to face a senate pan net in the next hour. after serious questions were raised about their certification process particulary with boeing planes and close relationship that the agency developed with
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boeing. i want to go to edward lawrence who is live on capitol hill with a preview of the hearing. edward. reporter: should be interesting hearing. we may have gotten a preview this morning when transportation secretary elaine chao testified in front of a senate committee, appropriations committee but still got questions. she says she will review why boeing charges extra for optional safety features she thinks could possibly be there to protect passengers safety. she said in this case she is talking about a warning light that passengers or pilots would get if the anti-stall software was getting false reads. she is not going as far as as requiring it yet. listen. >> i don't think we're there yet but it is very questionable. if these were safety oriented additions why they were not part of the required template of measures that should go into an
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airplane? reporter: she defended the faa's decision not to frowned the planes right away, saying that the agency is fact-driven. the faa did not receive the evidence from the ground and satellite evidence they needed until three days later. when they to the the evidence they grounded the planes. still senators very concerned that the delayed response by the faa, also the fact that they make safety equipment optional. >> if you don't have the factual basis upon which to ground a plane, how do you underground the plane? >> let me say this to you, all the professionals, make sure your professionals are looking f there is options on a plane that deals with safety, there is a problem. reporter: in about an hour, the acting director of the faa as well as ntsb chairman, as well as the transportation, department of transportation inspector will all be in front of an aviation and space subcommittee in the senate. no doubt we'll hear more why the
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planes crash or why the planes crash. and fixes the faa must have in place so the planes can fly again. charles? charles: as you were speaking, boeing shares spiked 10 bucks. apparently they revealed some of the fixes. we'll let you look at them, bring you later in the show. as a result the dow is approaching the unchanged line. thank you very much, edward. let's bring in former commercial pilot captain, mike caulfield. your assessment how all of this is going down? personally i thought boeing was sort of lackadaisical for lack of a better word after the lion air crash. of course since then all eyes are on them and this special relationship with the faa. >> i think you see that relationship will be questioned in the committee hearing that senator cruz will have in about an hour. ultimately the question becomes risk assessment. charles, thanks for having me
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today. and training. the real question becomes, how do we see the black box information? as we understand currently the ntsb has not had the data in washington and that is critical, charles. charles: what we're hearing, perhaps it is not a complete report but some of the things we're hearing about the lion air crash, not the ethiopian crash to your point but the lion air crash, seems like a cockpit in panic, facing something they never faced before which is seconds before they're doomed and they were fighting to try to save themselves? >> you're absolutely right, charles. and training is critical. in my background of 20,000 hours as a captain on the 737 whenever we changed or there is transition in the equipment or in the data or up load of the of the data, we receive not only a audio or dvd but we saw first look in the simulator. it means to continue to that
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way. pilots, when boeing changes something, when the faa approves it, the pilots need to see it. they need to be able to take that knowledge, charles, and put that in their backpack so when critical time occurs they can respond. charles: how much time do you think should be required for a major change, for instance, the 737 and 737 max according to the ethiopian officials are completely different. they had nothing in the simulators to your point to make the difference in understanding how to fight against this or just for these changes. what kind of time should be put into the new training? >> in the fleet training, six-month, nine-month ground school, should have a couple hours to go over the system, knowledge of the system, a exam on the computers. then you need to, in the simulator, charles, you need to have in one of your session as blocked section of 30 to 45 minutes where you're seeing that event, you're responding to that
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event, you're taking the simulator back, back going through additional takeoff. you're going through several three, to five, 10 takeoffs until everybody is comfortable. charles: apparently updating the simulators will be one of the parts of this fix. captain, thank you very. appreciate it. >> you're more on welcome. look forward to talking to you. charles: shares of boeing all over the place. of course they have been under pressure since all the bad news has come out. yesterday, think about this, after the close we heard a southwest 737 max had to make an emergency landing in orlando. despite the constant barrage of bad headlines you had not one, but two wall street firms, big firms, citi, baird calling it a buy, aggressive buy respectively. let's ask gary kaltbaum, kaltbaum capital management president what he thinks. gary, boeing shares reversed higher. actually we started higher. treasury secretary elaine chao
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hinted they could be mandating things from the federal post certainly with safety features. the stock started to swoon. the buy and dip mentality began since this. what do you say about this? >> i will say a definitive no clue at this juncture. you're dealing with so much uncertainty when it comes to time, when it comes to costs, when it comes to lawsuits and now you've got investigations, i just don't know. let me just say this, if they get past this, i'm sure they will in time, i think the stock will be higher as long as the market doesn't go into a bear market i think they will probably be right but right now in the short run we could be down 10 bucks by the close or up another 10 bucks by the close. just too much uncertainty for me. charles: for a long-term investor looking at sort of proposition they have got one
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rival. right now their products are superior to the rival. they don't have capacity even if they were able to take advantage of it. they have 15, to 20 year, they can see out that far, planes are being ordered at a rapid pace, a lot of investors wonder will this be a golden opportunity despite the tragedy surrounding it and what is the risk/reward of missing it? >> let me say this, if something else happens that will be a big negative. they are announcing that is a fix. if that is the case, boeing has been pretty darn safe throughout the years and it was the strongest dow stock before this occurred. their backlog is gargantuan. right now i think they only had one cancellation from a indonesian airline. all things being equal, if nothing else happens, long term you're in good stead because of the pipeline. as i mentioned the list of
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uncertainties it is out there and still overhanging this. charles: gary, let's broaden it out a bit. coming into today's session dow up 9%, nasdaq up 15%, it has been a pretty remarkable year for the market. 15 minutes into the close there was a major buy program. i'm not sure what triggered it. it feels like whenever the market pulls back the dow is off 100 points, buyers emerge but when down hundred points sellers emerge. we're at an impasse. what breaks the logjam? >> i think last couple weeks we had too far too fast. we're in a little pullback mode. i know we were down 200 earlier with boeing helping. one thing i'm keeping my eye on, two things. technology stocks, are starting to be a little bit of an issue, not the end of the world, that is to be watched they're getting distributed. we're talking about it a lot, yields around the globe just plunging one has to figure out what that means.
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typically it means big softness around the globe in economics. charles: right. >> that means big softness in earnings. that could affect markets. that has to be watched very carefully t really affects the market stocks. the last couple weeks you had a little cliff dive in the financials and again to me that i have a laser beam on that right now because if it worsens not good news. the good news will be i can all but promise you powell will lower rates to play catchup in the next 90 days and that probably is good for stocks. charles: next 90 days. i had not heard that. we got you on record. we love the polled predictions. >> absolutely. you got it, take care. charles: more on boeing fixes. the news just out, the stock reversing bringing the broad market up with it. meantime outrage erupting after "empire" star jussie smollett charges are dropped despite publicly the prosecutors laying out evidence against him. are lawyers opening up the doors
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for him to sue? is this elitism to the max? hour before senate voted overwhelmingly against it, alexandria ocasio-cortez and had a verbal sparring match over the green new deal. you have to see the exchange when come back. ♪ a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device.
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charles: follow me here, folks. prosecutors still insist jussie smollett fake ad racist anti-gay attack on himself but with little explanation abruptly dropped all the charges against the "empire" actor now he is may
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be suing the city of chicago and rahm emanuel said they may sue to cover costs of investigation. mat flynn live in chicago with the very latest this keeps changing. reporter: charles, difficult to keep track of. first of all the latest development, chicago police released some of their files into the jussie smollett investigation. appears chicago police wanted to get out as of docuements as it could, now the department says the case is formally sealed. getting anymore documentation could be difficult if not impossible. today chicago's mayor rahm emanuel called jussie smollett a liar. chicago's top cop says the actor owes this city an apology. >> i have heard that they wanted their day in court with tv cameras so america could know the truth but they chose to hide behind secrecy and broke ear deal to circumvent the judicial system. reporter: cook county prosecutors claim this is not an exoneration and there was no
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deal. they reviewed the evidence. they took into consideration smollett's community service at reverend jackson's rainbow/p.u.s.h. coalition, with smollett losing a 10,000-dollar bond this was just punishment this case seemed more aggravated than just a false police report. smollett said this was heinous hate crime. chicago police had 12 detectives for at least a month. county cook county prosecutors says smollett was non-violent offender so his alleged hoax doesn't warrant more prosecution. >> our goal and our number one priority is combating violent crime and drivers of violence and i don't think that mr. smollett is a driver of violence and nor was he someone who is a violent criminal. reporter: jussie smollett maintains he told the truth
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throughout the entire saga and it was one of darkest periods of his life. charles: matt, he was certainly consistent. more are calling answers for the case with the mayor calling it a whitewash of justice. >> where is the accountability in the system? you cannot have, because after person's position, once set of rules apply to them and another set of rules apply to everybody else. charles: he went on to compare this to the university admissions scandal. joining me are attorneys ford o'connell, danielle mcglocklin. when this initially broke a lot of presidential democratic candidates, bigwigs in your party, circled the wagons around jussie smollett. kamala harris put out a tweet about this. where is the party now? where do you think folks are on this? it wasn't exoneration, right? the $10,000 bail, he can't get back. apparently he has already done community service which everyone
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files is a farce but from a political perspective? >> i think when the news first broke we've seen a doubling in hate crimes in this country last couple years, democrats wanted to stand behind him. there was high-profile guy. they wanted to stand behind him -- charles: you have to suspend, when we go to movies, we suspend disbelief? we really believe someone in the underwear can fly as long as they put on a cape from a foreign planet. when you hear someone was mugged at two a.m. at 20 degrees below zero and they have rope, news, bleach, you have do you think hate is so deeply rooted in this country that could even be true? >> i think that they gave him the benefit of the doubt because they were inclined to believe him. there were plenty of skepticses probably on the other side of the oil was this was total setup because of maga hat, really big concern this is more about the attack. was about a whole political movement. charles: ford, this comes on the heels of the university scandal, right where it feels like very
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wealthy folks can buy their way out of anything. that is sort of the narrative right now. >> that is exactly right. there is one set of rules for the elite and there is one set of rules for everyone else. this sends a terrible message about the justice system. essentially it unmines, further undermines people's faith in something absolutely vital to our society. let me say this. this is the epitome of chicago's's justice at least reputation. i worked in several da's offices like this. i have not seen 16 charges dropped immediately the case sealed. this seem as little hinky here. i have a feeling, we don't know until the facts come out, seems to me the buck stops with cook county state's attorney, kim foxx. she is repaying political favor or worried about upcoming election. charles: bringing it back to the political arena? >> absolutely. she is elected. >> that is the problem. we see this with judges. see this with prosecutors. the idea of condition influence and law enforcement is hugely
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problematic, idea somebody paying back a favor, we want to believe in system not only doesn't care your race, creed, political persuasion, fair for everybody, how much money you make. when you elect people making decisions like this, there are political issues they have electorate, that is a big problem in the country. >> we have outrage complex in this country everyone wants to believe their own narrative, okay? i have no idea what narrative to believe here. hopefully more will come out. obviously potential federal case as well for allegedly sending a threat through the mail. charles: something like this should knock down political barriers? >> it should. come together as we are right now. charles: doesn't this actually in certain way reinforce what weave seen in this country and other countries where the wealthy survived all recessions all depressions, regular folks who seem never be able to get ahead or take the biggest brunt of any bad news? >> a boy in rikers island for three years, was released
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because he stole a backpack. he committed suicide basically his life was ruined. somebody who is star, makes a lot of money, weirdness with the community service and bond he will walk free. i understand someone don't want felony -- >> what kind of privilege we call this? hollywood liberal privilege? charles: elitism. there is big pushback against the elites across the world, not just in america. ford, danielle, bring you back later, we'll talk about something else. right now the dow paring some losses. stocks under some pressure today. the question what is gnawing at investors? we'll go over the possibilities. will a trade deal with chinese investors worries? we have former canadian ambassador to china who will weigh in on the chances of reaching a groundbreaking deal next. ♪ i've always been amazed by what's next.
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charles: senior u.s. officials heading to beijing to meet with chinese officials for more high level trade negotiations. u.s. trade representative robert lighthizer says, he is hoping the two sides can come to an agreement. perhaps feeding that hope are plans by top chinese negotiator, their top chinese negotiator to also travel to the united states in the following weeks. so the question now is, how close are we to reaching a deal? joining me former canadian ambassador to china david mulroney. thanks for joining us. >> great to be here, charles. charles: you know in one hand, as these negotiations and the ultimate meeting keeps getting pushed out, it could be read two ways. some are thinking maybe it's a problem. others are saying it points to serious negotiations that take more time but ultimately will get us to a place where both sides are ready to sign. how do you interpret it? >> well i think what is happening is, this is a very different negotiation. so there is the traditional
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package ever items that china would put on the table to say, you know, our bad, we're sorry. here are things we'll do. we'll purchase more u.s. commodities. we'll change some of our regulations to level the playing field. to a certain extent china is doing all that. that is fueling some optimism. but the big difference here is the other ask that the u.s. negotiators have. that is to say, they're not necessarily going to remove the tariff barriers. the president has been quite ambiguous about this. maybe we won't remove them. we're looking for compliance mechanism if you black slide china, the tariffs snap back -- back slide. ambassador lighthizer said they will be proportional, not unilateral. if america decides to act, they spent expect china to retaliate. that is a big concession to swallow.
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it is not clear that they will do that. charles: tariffs continue until we sign a deal, and we'll take away tariffs as long as you agree we introduce them, you won't reintroduce yours, that is where we are? >> effectively yes. the we take away tariffs but tariffs remain we'll use unilaterally if we feel they are back sliding. >> we have a little time. i want to lean on your expertise. we're seeing economic data that suggests china economy is slowing. we've seen overtures that seem very positive. in your estimation are we closer to something we can call a groundbreaking deal? >> i think the chinese definitely want a deal. this makes life easier. the measures are hurting them more than the u.s. this of course, unless dressed up in somethings that xi xinping can come back to china saying i haven't totally capitulated there will not be a deal.
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it will take a lot of very creative engineering and wordsmithing on parts of both negotiators that president trump can call victory and president xi can say not a defeat. charles: that is one of the main hurdles from the whole time, right? the public relations image of the two gentlemen at the top of the negotiations. >> absolutely. >> thank you very much. i appreciate it. >> my pleasure, thank you. >> global economic slowdown fears did not stop major indices from rocketing out of the gate. so the question is what is holding the market back? i still love the idea of investing and buying on these dips but you can't just throw a dart. i will explain that later. also one day after the white house renewed talks about striking down obamacare, there is 15 billion-dollar health insurance merger. what is that all about? we have got the details next. the ♪
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♪ charles: turning back to our top story, shares of boeing spiking after announcing a fix for its 737 max fleet, hoping for a quicker certification by the faa so the planes can fly safely again. fox news's dan springer is in washington where boeing announced the technical changes moments ago. dan? reporter: yeah, charles, this fix has been in the works for boeing since that lion air crash back in october last year. in fact they delivered the details to the faa back in january. as you know the company has been under a microscope from this washington to washington, d.c., certainly ever since the second crash took place earlier this month. yesterday's emergency landing in orlando certainly doesn't help the company but it was unrelated to the crash investigations. two southwest airline pilots were flying the plane to california for storage purposes. right after takeoff they
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realized an engine was not performing quite right. they turned around, safely made a emergency landing. the faa of course is investigating. meantime we're expecting a preliminary report on the cause of the ethiopian airlines crash that prompted the grounding of the 737 max. much has been made about boeing's extensive role in getting faa certification. a boeing official today admits they have a hill to climb. >> we're working with customers, regulators around the world to restore faith in our industry, also to reaffirm our commitment to safety, to earning the trust of the flying public. reporter: the other big development today, boeing officials are discussing their fix to the anti-stall system on the 737 max which is being implicated in both fatal crashes. the new software requires two censors on the front of the plane to agree the attack angle is to high before the mcas system puts in to force the nose
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down. a faulty sensor has been the problem. the system is only engaged once so pilots won't have to fight with it to turn it off. boeing has been testing the it in simulators for weeks and delivered the plan to the faa in january. it will cooperate with the faa before approving planes for passengers. >> the faa already has said it doesn't want to be the first one to put the airplane back into the air. they want to have a consensus of the regulators to do so and of course that's a major shift. reporter: yeah, that is a shift. usually the faa usually will go ahead certify without consulting with other nations but in this case they will. speculation if they get the faa approve this, have other nations to do the same, by the end of april they could have the planes back in the air sometime in may. of course boeing is wanting that to happen as soon as possible. they're reportedly losing
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somewhere $2 billion a month during this grounding. charles? charles: dan, thank you very much. meanwhile the dow paring its losses after this news on boeing's fix. the stock overall, the broad market is still lower. also there is a lot of other concerns out there. the falling treasury yields are a concern. then there is the potential inverted yield curve. also how tech stocks lower after a big chipmaker lowered its guidance for the second time in as many months. there is even speculation investors are taking profits on big winners so they have dry powder to buy some hot ipos, including lyft on friday. let's go to money map press with chief technical strategist dr barton. the market in a tight range. you can feel the tension. it feels it will make a major breakout one direction or the other. what is your sense here? >> yeah, charles, we've seen this several times when we get
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these competing factors, the bears coming, the bulls coming, everyone competing where we will go next. that causes kind of a jerky market with. a big move on thursday, a big down move on friday. we got a big open on tuesday morning only to have it fall back. so that's just showing us how balanced everything is. but the key thing i'm watching, charles, 2800 level in the s&p 500 we have similar support levels we just broke through. if that continues to hold amid all the gyrations i still have to sit on the bullish side of the fence. charles: yesterday, for instance, the last 15 minutes of trading saw a massive rush to buy stocks. we've seen this over and over again. so for you, we're just sort of building a foundation then, sort of a technical foundation for the next leg higher? >> yeah, i believe the more sideways we go the stronger the next move up will be. sort of classic way to look at this. i think this back and forth, not
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knowing exactly what we'll hear out of china this weekend, get good news out of boeing, negative news from the banks. all these things kind of blend in to give us that sort of sideways chance to work off the overbought, right? we get strongly overbought, like we have for 2 1/2, three months. then you expect some sideways or pullback. we're not getting a pullback. so i like the bull. charles: dr, less than a minute, lyft ipo on friday. any thoughts people could take profits on some of these positions so they have dry powder and they can chase that stock? >> i hear that argument a lot. those thoughts from some of the traders that i'm talking to, they're seeing that is a possibility. i think that is not out of the question. i don't think, i don't think that is a really big driver here, charles, for the selloff. i think this is normal action we'd see after a big move up. charles: always great having you
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on, buddy. thank you very much. folks heated exchange over the green new deal between shaun duffy and alexandria ocasio-cortez sent social media in overdrive. 6 million views. >> if you're a poor family, just trying to make ends meet, it's a horrible idea. >> this is not an elitist issue. this is quality of life issue. - my family and i did a fundraiser walk
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charles: this might shock but it is a no-go on the green new deal. senate republicans voted unanimously against the plan. while most democrats simply voted present to protest mitch mcconnell's attempt to get the dems on the record, regarding this controversial resolution. this as the woman behind the plan, congresswoman alexandria ocasio-cortez, flips out after republicans called the plan elitist. >> the green new deal is one that if you're a rich liberal from maybe new york or california, it sounds great because you be can afford to retrofit your home or build a
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new home that has a zero emissions, this energy efficient, affordable and safe. >> you want to tell people that their concern and their desire for clean air and clean water is elitist? tell that to the kids in the south bronx which are suffering from the highest rates of childhood asthma in the country. charles: we brought them back. republican strategist, ford o'connell, and democratic strategist danielle mcglocklin. ford, what are your thoughts? >> if the apocalypse was upon us, world ends in 12 years, senate democrats would have voted for this instead of senate democrats to join republicans voted for it. this is luxury issue. we all care about the environment, if you don't have a job, you can't eat, frankly not at top of your scale. we have far more pressing problems in america, when it comes to the u.s. co2 emissions reduction. we've reduced 16% since 2000. most in the does realized world. we're doing more than anyone
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else when you throw in china, india, russia. charles: danielle. >> this is about poverty. talked about kids in the bronx. children in flint don't have clean water. charles: climate change bill, how does that change that for them? >> what this bill does, a little bit kitchen sink admittedly, making sure we have infrastructure, clean jobs. don't have coal going into rivers places like kentucky. people living, working in the places can live healthy and live and breathe and drink the water. that does matter. >> we agree where pollution hours the environment. here is where republicans have the problem. what the democrats are selling for the green new deal is pixie dust. talking about the biggest restructuring of the american economy in history of country. essentially if we do everything democrats suggest, don't go fully bankrupt in the process guess what, it will not change the worldwide environment t will
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kneecap us. >> democrats have idea. what are republicans doing, talking about the market. >> the market is driving down carbon emissions in this country. >> that is not exactly true. we have tariffs on china. we have solar panels. charles: that true. when you look at our co2 emissions percentage of our gdp gone down almost 50% in the last 20 years. we have done great things we don't get credit for. here is the my problem with aoc, answer me this. i was born in harlem. he have relatives in the south bronx. i spend more time in the south bronx than she does. this has been issue for a long time. they studied it. one of the problems because these are poor folks. they have dust loaded furniture and carpets. don't have proper cleaning equipment. can't visit doctors. cockroach and mouse allergens are the most common problem. another report says these households have significantly more people smoking in them than others. how is that something that all taxpayers should pay for? in other words, you know,
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whenever democrats have an issue, then they bring race into it, either directly or indirectly, you know, it bothers me because we should be dealing with this, but this has nothing to do with her plan? >> i don't agree with you, charles. one of the things with the green new deal, we would have 15-dollar minimum wage. charles: people are not moving out of these places with 15-dollar minimum wage. i pray one day democrats keep talking to black people, highest you can aspire is $15 a hour. when you democrats say you can make $100 an hour. about you tell me someone will get out of these conditions with 15 bucks an hour it is not true. thank you very much. >> thank you, charles. charles: customs and border official telling reporters a united states is at quote a breaking point at the border. we have those details. we are moments away from airline
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regulators testifying on the boeing 737 max investigation. now i expect lawmakers to scrutinize the timeline for the max's software fix after those two deadly crashes. stay with us. fox business, we have developing stories. shouldn't mean going back to the doctoro just for a shot. with neulasta onpro patients get their day back... to be with family, or just to sleep in. strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%, a 94% decrease.
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charles: moments ago, the agency faa saying it has not granted approval for the boeing 737 max updates the company just announced in the last hour, just during this show. the announcement comes right before the faa officials are going to testify at a senate hearing. meanwhile, british lawmakers start voting later on today on options for their country's ex it from the eu. the options being considered include calls to leave the eu without a withdrawal deal, put any eu divorce deal the a public
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referendum and to cancel brexit if, if the prospects of a no-deal seem likely. prime minister theresa may confirming that she's prepared to resign to give the brexit deal delivered. we are only just two days -- it's only just two days before the united kingdom had been originally due to leave the eu before the european union granted a short delay. democrats are fighting back against the defense department plan to shift $1 billion in military funds for 57 miles of fencing along the u.s./mexico border calling it quote, quite unbelievably irresponsible. this as u.s. customs and border protection commissioner telling reporters moments ago that the united states is at a breaking point at the border. border and commerce secretary council president is with us. nelson, also news coming across the tape yesterday, 3700 apprehensions at the southern border, the largest one-day apprehensions in ten years.
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it's obvious that this crisis is getting worse. >> hey, charles, good to see you. i'll tell you, this is border gone wild, absolutely. the asylum situation is only getting worse and if you recall, you and i talked about it in early november, that the asylum issue was going to get worse and guess what? nearly 100,000 people are flowing over that border on a monthly basis now and certainly no wall or any other gadget is going to stop that because the issue there is we need to pressure mexico and the central american governments to do their part, and our congress needs to do their part to ensure that we have an asylum reform that makes absolute sense to stop this illegal flow of people over this border that all they want to do is get apprehended and be released into the country. charles: what does asylum reform look like? >> well, asylum reform has to start simply with if you want to come to this country, there's a legal way to do that. there has to be a way that we
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return these people, if you come through the border, we have to return you back to the country if you arrive illegally. currently, the system does not allow people to go, if you're away from mexico or countries separated through mexico, if you arrive at our border, we cannot send you back to central or south america. we have to process you, give you your day in court. especially when you come with a minor child. that is where it needs to start. we need to send people back that arrive to the border in an illegal situation and have them apply the normal and legal way of coming to this country. charles: how did you know, because this spike is remarkable, the numbers that are pouring in right now, i mean, again, they go back to well over a decade, how did you know the fact the government shut down over this issue, do you think people are looking outside of this country saying hey, we know that the democrats are more or less not going to allow the sort of changes that will stop us and maybe it became a de facto red
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carpet. >> well, i tell you, the thing is, you just got to look at the numbers. 3,000 people were claiming asylum in march of 2018. when we were talking in november of 2018, it was 30,000. now it's 100,000. you just got to look at the numbers and really, it's our business as the council to work with the border patrol and customs and i.c.e. to ensure that they have the resources that they need and really be their voice, when sometimes they can't be that voice. the resources that they need are simply not enough. they need more. we need people, we need technology. and absolutely we need a wall, because a wall stops the traditional illegal immigration and certainly the drug trafficking that has nothing to do with asylum and absolutely even baiting our country that way, too. you have to just look at the numbers. people aren't looking at the numbers, they're not reporting the numbers and frankly, congress hasn't really cared. they have been focused on the wrong thing. charles: i remember even at the end of the year, a lot of people were quoting fiscal year 2017 numbers because they were lower than fiscal year '18.
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lot of disingenuousness. it's a serious issue. we appreciate your expertise. dow is off 41 points, off the worst of the day and of course, we were up 100 points, liz claman. we are all over the place in a tight range but we are all over the place. liz: part of the reason we saw the dow, i know you noted this, start to move higher once again was because boeing suddenly started to move higher. breaking news, folks. what we are going to do is take you to our cameras live at the hearing room in the hart senate office building, where senators are filing in right as i speak, the senate congress subcommittee on aviation and space. this is about to gavel in. a much-anticipated hearing titled quote, the fate of airline safety, federal oversight of commercial aviation. make no mistake. that is a very kind of bureaucratic comment about something that will not be a broad bureaucratic hearing on regulation. they will dive directly into the october deadly crash

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