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

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will be very interesting as it always is when it comes to spending and rest. we pretty much set it up for charles payne flat. anything you do from here is on you. charles: you know the cp effect. 30 second ises? how about 30 minutes, connell. connell: self-promotion. charles: good afternoon, everyone, i'm charles payne this is making money, golden day on wall street, as tech stocks continue to soar. all the major indices are nearing all-time highs. how powerful the rally has become. the mavens who run the sidelines, they're chasing, of course, should you be chasing too. optimism over trade talks between the united states and china, adding a extra excitement as well. there are new signs of recovery in the china's economy. we'll break down those details as well. president trump reportedly telling fed chair jerome powell on a phone call recently, quote, i guess i'm stuck with you. here is a bigger question,
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folks, should unelected bureaucrat with no accountability have the kind of power he has to destroy the economy? think about that. president trump threatening again today to close the border unless congress steps it up. i will get reaction from republican senator rick scott from florida. all that and more on "making money". ♪ charles: he is not stuck on him, but president trump reportedly said he is stuck with him the he is referring to fed chair jay powell, this according to a new report. trump flirted with idea replacing powell who trump blames for holding back the economy. while the feud makes for great fodder and headlines, why does powell have so much power in the first place? rose cliff capital mike murphy, kaltbaum capital management president gary kaltbaum. gary, start with you, i know you're such a huge fan of the
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federal reserve. only thing you like more is the mets when they occasionally win. >> teeing me up pretty good here, charles. the "cp effect"? charles: we'll see it in a minute. >> i think all central banks should go by the way of the dodo bird and tie the tyrannosaurus rex. how do we get where a few people around the globe have their fingers on the button to create tens of trillions of dollars of conjured money and move the market around and the playing field. i don't get it. i thought the most powerful person in the world is supposed to be the president of the united states. no, it is the head of the central bank here and head of central banks around the globe
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unfortunately. >> i think president trump had the same epiphany, mike. we can debay how much the fed slowed down the economy but we can't debate the power they have to do that. since they came on, we had a lot of recessions i lost track, we had the great depression. since they came to be income inequality continues to exist. what role do the central banks play other than saving wealthy and others in times of trouble. >> they may have saved the big banks, but a lot more than that i think you're still seeing you unwinding of that. one thing i will agree with on here, regarding the fed, is that powell, i think made a major mistake when he said he was going to raise rates too much, it caused a 20% correction. when he said he wasn't going to raise, i think he is giving too much insight to what the fed is going to do, trying to go out. we'll get one rate hike the next two years. that sets up really bad for the markets. connell: you're cool with the
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idea, guy could be on interview october the 3rd make a slip of the tongue and trillions of dollars are wiped away with the market you're okay with that type of power? >> that is above my pay grade. that is the system we have. until it changes that is the system we have. i don't think you can do anything to change. >> let's shift gears. today the dow is losing a little bit. the big action in the nasdaq and tech names and semiconductor names. my thesis, mike, a whole lot of folks who missed out on first quarter, professional investors who were bearish, sitting on cash cannot afford to have back-to-back quarters where they didn't participate. >> now they're chasing the market here. i couldn't agree more. we were live on the desk, 20% drawdown is good time to allocate money to the market. 14% rally is a good time to maybe sit back, not -- charles: participate in the rally. if you miss two quarters in a row, up 14%, next quarter up
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10%, you have to have a hard time explaining that. >> couldn't agree more. you're better off in it rather than doing something else. people at home if they're long the market, go along for the ride. economy looks strong enough for me. earnings look good enough for me. you can be invested in the market trying to block out some of the noise. charles: what about those not invested in the market? >> i say take your time. it is getting a little frothy in techland. probably goes higher. i always said for decades, watch the semiconductor they're breaking out all-time highs today. that cannot be bad news. but i think you're getting a little bit of froth, you're getting bitcoin breaking out off the lows indicating some froth. i think pullbacks are good. you have two weeks before all the earnings come out. i'm not so sure i would jump in to much right here right before earnings and things sticking up in the trees right here. charles: right. >> leave no doubt.
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i think the market is saying something. there is still a lot of talk about the depression, recessions end of the world coming. i have never seen that happen when markets are doing what they're doing right now. but again, that said, get my little froth indicators are jumping in the red zone here. maybe not necessarily getting a pullback i would wait for one at this juncture. charles: gary, mike. great conversation, guys, thank you very much. appreciate it. >> you got it. charles: despite the turmoil between president trump and fed chair investors are focusing on optimism of a potential trade deal. finally it is in sight. we can see it, i think. u.s. trade representative robert lighthizer, treasury secretary steve mnuchin kicking off a new round with china's top trade negotiator. edward lawrence outside the u.s. trade representative in d.c. where the talks are currently underway. edward? reporter: charles, the treasury secretary steve mnuchin arrived here about 15 minutes ago for the afternoon talks. vice premier liu he is inside a
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few moments ago, came in. some signs are positive. look at this, a rare sign, show of emotion from the vice premier, where he stopped, smiled, actually waved that is the first time he has ever done something like that walking into these talks. it is very relaxed atmosphere this morning. white house economic advisor larry kudlow says the chinese are finally acknowledging they need to follow trading rules. >> we're making headway. i hope we make some more headway this week. the chinese have acknowledged these problems for the first time. they were in denial. reporter: he says that protecting intellectual property will be a big part of this agreement. in fact, the u.s. trade representative saying that section alone is 27 pages. the entire document they're working from is 150 pages, very detailed. in fact they're saying enforcement right now is the sticking point in these negotiations. the u.s. would like to use tariffs as a snap-back if china
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does not follow these tariff or these trade agreements but the chinese would like to see those tariffs removed and gone forever. charles? charles: edward lawrence, thank you very, very much. i thought i saw trade representative and lighthizer give each other a bro hug. maybe it was just me. for more on potential chinese-u.s. deal, gordon chang, author of coming collapse of china. last time you were here. you are more skeptical, worried about things people not paying attention to, north korea's talks with china, for instance. let's start with there. have you changed and feel a little bit different because of the overtures? every single day the overtures are there. some people are reading a friendly greeting into a positive sign? >> i think they're close to a trade deal. people say they settled 90% of the points. we have to remember what they haven't settled, chars, are the enforcement mechanisms this is been the heart of the dispute
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from the beginning. i am willing to say they're close to a deal but there is a fundamental question. we have decades of failed trade agreements with china, so is the remedy another agreement? i don't think so. charles: ultimately we would have another agreement but a real agreement. world trade organization thing, almost everyone exempt for a few pure its out there who maybe said trump was right, they were wrong, will admit that wasn't working right? you go, present the cases. they take four or five years of resolve. they break in again. just a circus. that was never going to work. >> no, it hasn't worked. the reason the dispute resolution at wto favors people who violate agreements. there are no penalties until a violator violates a settlement agreement. you have three or four years, they can continue to drive u.s. companies out of business. which is what the chinese have done. they get a adverse wto opinion. they ignore it. charles: right. >> we don't impose any costs on them. so this has not worked.
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charles: now more recently since china has become a economic juggernaut, it foles like there are a lot of countries, president xi xinping had a very successful, looks like trip in europe. italy says they're all in. other companies seem to be kicking the tires on the belt and road program. there is a lot of money they're dangling out there and makes people reluctant to push back on these other issues. >> that is certainly true. i don't know what the substance of the italy-china agreement on belt and road. it was a memorandum of understanding. what the essentially the chinese are doing throwing money at people that may or may not get paid back. not getting paid back with number of countries. it does buy influence. think about that, charles, it only buys influence for short period of time as we've seen with belt and road. charles: yesterday late in the day, middle. afternoon, a chinese woman was arrested for illegally entering
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trump's mar-a-lago club. she had two passports, a laptop, a hard drive, a thumb drive that contained malicious software. i'm not sure if she was carrying a backpack, full bags, whatever it is. people are wondering could she have been a spy. >> she could have been a speech. i'm sure she was an amateur. china has the thousand grains of sand approach. they essentially ask every tourist, business person, every student, to get information to bring it back to china. probably that is what this woman was doing as well. remember that china's national intelligence law requires chinese parties to spy for china if bejing demands what they do it. by the way that the is communist party system as well. you have all the chinese nationals running around the u.s. they are basically potential spies. charles: china now is the world's largest, largest source of tourists. everywhere you go in the world, i was in europe recently, everywhere i went the hotel i went it was amazing switzerland,
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vatican in rome, everywhere. you're saying any of these folks can be tapped to do some spying for the country? >> a lot of them indeed have been. that has been china's approach. we have to be concerned about what she is doing. charles: she should filled out a job application. they alls need workers in mar-a-lago. >> thank you, charles. charles: president trump revving up the threat again to close the southern border while the white house looks ways to minimize the economic impact if that were to happen. i say security and economy are the same. without peace and security we don't have an economy. senator rick scott will weigh in on that next. i'm working to keep the fire going
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charles: president trump not backing down on his threat to close the border with mexico blaming congress on any negative impact. he says congress must get together to eliminate the loopholes at the border. if no action, the border or large sections of the border will close. this is a national emergency. blake berman from the white house with very latest. blake? reporter: couple things to note from president's tweet, the president suggested that maybe the entirety of the southern border with, between the united states and mexico might not get shut down if he decides to go down that road. instead potentially he could shut down only just portion of the border. secondly, the president seems to be shifting some of his frustrations from the government of mexico to the u.s. congress. last night here in washington, for example, the president was addressing a group of
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republicans and the president seemed to suggest that mexico is listening to his demands to stop of the flow of caravans at the southern border. watch here. >> i really wanted to close it but now mexico says, no, no, first time in decades we will not let anybody get through. and they have apprehended over 1000 people today at southern border, their southern border. and they're bringing them back into their country. why the hell didn't somebody do that in the first place? reporter: here at white house they're insisting that the president is not pulling back from the possibility of the entirety of the southern border could potentially be shut down. >> no, not at all. i think we are leaving all options on the table. i think that the democrats have left us with no choice but to have to redeploy our resources, our border patrol agents from the ports of entry to in between the ports of entry we're seeing the surge of illegal aliens
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coming through the border. reporter: seems to be building bipartisan consensus here in washington. democrats and republicans who are urging the president not to close the border for financial and economic reasons, reasons of commerce and trade. you can add the business roundtable to that list as they sent out a letter to top administration officials earlier today, charles, it reads in part the following, quote, closing the border would back up thousands of trucks, impact billions of dollars of goods each day, cripple supply chains and stall u.s. manufacturing and business activity. we still await a final decision from the president, charles. not sure entirely when that may or may not come, what potentially could or could not shut down. just how big that may or may not be. charles: blake, thank you very much. for more i want to bring in republican senator rick scott from florida. senator dhs nielsen, she is calling the situation at the border, equating wit a cat-5 hurricane, something
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unfortunately you have a lot of experience with. do you think that is an accurate description? >> absolutely. i've gone down to the border. i talked to the border patrol. the unbelievable number of people coming across our borders illegally and number of drugs. the president's in a horrible position. he wants to secure the border. the democrats will not, will not give him money to do it. it doesn't make any sense. we need more people. we need better technology and we need some barriers to make sure we control who comes into our country. i'm from florida, we're an immigration state. we want legal immigration. not illegal immigration. charles: it's, it's, the point you made with the democrat who are just, you know, seems like they made a calculation and that despite the scene there, everyone acknowledges who has been there, despite the fact that jeh johnson called this a crisis, that their political gamble continues to be a negative for republicans, a real negative for donald trump. therefore they won't help out, i think the american public send
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people like you to washington, d.c., someone with experience reaching across the aisle, is there any chance, have you seen any chance with any of your fellow colleagues on the other side of the aisle that maybe we're getting to a point where there could be a grand bargain, a grand solution with this as a backdrop? >> i would like to say yes but i haven't seen it yet. think about it i walked up here three months ago during the shutdown. the president offered, talk about daca, talk about tps, the democrats walked away. why don't we do that? why don't we secure the border? make sure we sit down to take care of the daca kids? why don't we have permanent solution for tps? the democrats hate trump. they hate trump. they don't want trump to have a win. i want american citizens to have a win. let's have secure border. continue to grow the economy. i don't know what he can do. charles: yeah. >> what else can he do? he is doing everything he can to get the border secure. if this, maybe this is the last straw to get mexico to do their
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part. charles: apparently mexico started stepping up to the plate. now of course congress ultimately has to solve this i do want to ask you also, senate majority leader mitch mcconnell closing the books on plans to get rid of obamacare in its entirety, revealing a conversation he had with president trump. i want the audience to take a listen. >> so i made it clear to him we were not going to be doing that in the senate. so we don't have a misunderstanding about that. we'll not be doing comprehensive in the senate. charles: president trump responded to this morning with a tweet, i was never planning a vote prior to the 2020 on wonderful health care package some very talented are developing for me and republican party. i never asked for a vote before the election that has been incorrectly reported as usual. senator scott, this is area you have tremendous expertise? what are your thoughts here? >> i'm glad the president cares about this.
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let's focus on problem, focus on cost. i have a bill last friday, americans pay more for drugs than europeans. why? i was in the hospital business. i said same thing to the drug companies, not paying more in america than the exact same product in europe. people need transparency. focus on what americans care about. they're worried about the cost of health care. democrats talk about access. when they do it, what happens? co-payments go up. deductibles go up. premiums go up. it doesn't make it easier for americans to get health care. makes it more expensive. charles: senator scott, thank you very much appreciate it. >> charles, have a great day. charles: you too. democrats upping the war on profits. senators wyden and warren going after the rich. as they look to obtain the full unredacted mueller report. that's next. ♪
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charles: war on the rich escalating as several democrat 2020 candidates are beefing up their rhetoric against corporate america and rich folks this as president trump calls out established democrats being petrified of freshman congresswoman alexandria ocasio-cortez and her progressive ideas. >> i'm actually saying it's a wonderful thing, the green new deal, done by a young bartender, 29 years old. set of professionals that you guys know, been there a long time, white hair, everything perfect, they're standing behind her, they're shaking, petrified of her. we support the green new deal. charles: here to discuss are democratic strategist danielle mcglocklin, "washington examiner" commentary
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writer tiana lowe. let me start with you. do you think they're petrified of aoc? >> clearly if they are marching lockstep on her green new deal but refuse to vote yes, just voted present. every single senator cosponsored the legislation and it is her party now. pelosi lost control. charles: danielle. >> i don't agree at all this was a joke. this was a forced vote by mitch mcconnell to try to pin democratic presidential hopefuls and other members of the democratic party. charles: they came out for it though. they said i'm for it. >> this wasn't legislation. a resolution, set of ideas. charles: what is wrong with saying hey i'm it's a great idea? >> they made a political decision not to get berated by it. charles: aoc dominates the conversation.
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it is not just this. i think the situation with congresswoman ilhan omar, you know, initial response from the democratic party, particularly folks in jewish members of new york and other places they were very upset with her. that whole thing turned into somehow switching to a conversation about donald trump. and i think that was when aoc jumped in. feels like she has a lot of power, certainly more power i can remember any freshman congressperson having. >> how much the right is going after her. i think that we're seeing similar things with other front running democrat presidential candidates. you can tell who republicans are afraid of by how much they talk about her. charles: when nancy pelosi changes her mind on certain things, when they say don't go to aipac and a whole lot of presidential candidates don't go to aipac, when ilhan omar offend the jewish community and israel, somehow turn it into a thing against trump. this is not about republicans this is within your own party. you have to admit she has a lot
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of power. she is wielding night she does. one of the problems is that the middle of the party is having with her, she is threatening to primary does that. charles: who does that? what freshman congressperson does that? >> you need to be on the same side. charles: house judiciary committee voted along party lines, wanted to subpoena the full mueller report. create more targets, create more innuendo, stoke more animosity in this country what are your thoughts? >> from a strategic perspective doesn't make too much sense to me. if there is no collusion, even if there are potentially process crimes that is not impeachable offense thanks to bill clinton getting off. no one will remove trump from office if members of his administration are guilty of process crimes because clinton wasn't removed from office because he was impeached. all they want to do is find embarrassing information about trump, wind up sharing it. how will that stick?
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what will change? what could we possibly find out that would change anyone's opinion of donald trump? they cannot stop chasing this russian nonsense even though there is no smoke, no fire. charles: if you call it a fishing expedition, certainly the net widened now, danielle. in addition to the entire mueller report, they want a lot of information from hope hicks, steve bannon, ann donaldson, don mcgahn, and reince priebus. they are spreading out the net. what are they looking for that mueller couldn't have found in two years? >> well i certainly want what mueller is there to give them. i think it is fair congress got 8,000 pages of related to hillary clinton email investigation. if you look at whitewater, if you look at iran-contra deal, in those places all those were independent prosecutors, not official prosecutors, the public got to see what the investigation was. it was politically damaging. charles: if a federal judge says no, you can't do it, do you
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think that will be it? do you think they will leave it alone? >> if a judge says that? charles: a judge says that -- >> appeal to the supreme court. i will acknowledge it. they want to damage the president. let's be honest. charles: damaging themselves in the process? >> they absolutely might. bill clinton, post, starr report. he was reelected. terrible misstep by republicans. charles: republicans did not benefit. >> right. charles: thank you very much. lori loughlin and felicity huffman having their day in court as they face charges in that massive college admissions scandal. what needs to happen, if possible to finally fix this broken system.
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♪ charles: welcome back. all the major indices are higher, although the dow well
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off highs of the session. investors seem optimistic about a deal with china. tech companies posting monster gains. rival chipmaker amd got a big upgrade. that is also higher. auto sales falling 2% in the first quarter. so has peak autofine alley arrived or is this evidence after automotive slowdown? they sold had million vehicles from january to march. analysts blaming drop on rising prices, competition, late model used vehicles also. british prime minister theresa may sitting down today with the leader of the opposition is party to try to break this whole brexit logjam. for his part jeremy corbyn says he is happy to sit down with may but so far, quote, she hasn't shown much sign of compromise. >> >> meanwhile felicity huffman and lori loughlin they're in boston for their first federal
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court appearance in the college admission scandal dubbed. operation varsity blues. hearing underway for several people who paid millions of bribes to guarranty their children acceptance into college. they face maximum sentence here possibly 20 years. that is if convicted on all counts. joining me university of wisconsin associate professor duke pesta. professor this, really, this resonated across the down schussness of america -- consciousness of americans for some reasons. elites, where you are, the college system, how do you see this? do you see this as example of elites getting everything they want at the expense of others? >> it is true that is a big part of this but to me the real big conclusion here how hypocritical university the are. left-wing administrators, lecturing socialist values,
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tearing apart premarket values social justice, foisting white privilege, on us, whether you look at them, they are as much driven by money as the big corporation is. all the social justice they preach, the bottom line is not about equity, not about justice, about lining their coffers. they're exploiting justice issues to get richer and richer. there is no outside oversight. that is the big take away. charles: excuse me while i get my pom-poms, great way to start the show. here is the thing i agree with everything you said, yet the last part was the most important. $1.5 trillion in student loans, a lot ultimately could be backed by the government. there are forgiveness programs already out there. you wonder should there be oversight, if there was, how would it look? >> first of all i would get the federal government out of the student loan process. the government indiscrimminantly
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gives money to people whether they are serious or not, majoring in serious subjects or not. go back to the system before that bankers were trying to determine, you want $100,000 you will major in women's studies we'll not give that to you. the idea everybody has to get the same amount of money is absurd. in terms of oversight, i would make universities have some skin in the game. if you give loans to kids who don't graduate, then the university is on the hook for paying 50% of that money back. you have to make the universities account for the fact that many of them, ivies are sitting on billion dollars endowments of untaxable money, taking more and more money from the federal government. every dollar you spend of federal money you ought to match with the endowment money. this is way we can hold them accountable financially for the devastation they're wreaking in terms of real justice in this country. charles: we have less than a minute. real quick, some ideas out there, maybe people would pay part of their salary, once they graduated, a small part, nothing
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that is too crippling but good enough for them to have the typical movement in life, household formation, upward mobility, not get stuck in these rent traps. also the colleges would be repaid as well. is that an idea worth pursuing? >> absolutely it is. it also gives a little skin in the game to the students as well, motivation if you're going to get yourself on the hook this way you have to pick careers that will benefit the public. the other thing i would say too before we sign off, stop hiring 8,000 diversity officers, 8,000 social justice monitors and save those huge salaries on college campuses to lower tuition. the inflated nature of our colleges and universities should be addressed as well. kids shouldn't have to take out these kind of loans for those kind of education. charles: professor, you're a breath of fresh air. we appreciate it thank you. >> thank you. charles. charles: crude prices with massive build up of crude supplies, that took a lot of investors by surprise.
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s&p 500 and nasdaq meanwhile at highs of 2017. with would get the dow there? the dow is still lagging. we're here to make you money. we'll talk about that next. ♪ i switched to liberty mutual, because they let me customize my insurance. and as a fitness junkie, i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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charles: market dialing back slightly but still approaching all-time highs in part fueled by trade optimism, but the bears, the professional bears have no choice but to chase it if they want to make money. tech stocks really empower, the golden cross, has traders hyped up, the question should everyone be piling in? joining us is the cow guy, scott shellady. scott, so the audience understands, when 50 day moving average goes above the 200-day moving average that is considered a golden cross, the ultimate bullish buy signal. people are moving on that. also traders, you're one of the best i know, understand you have to chase when the markets are going up. >> those are the type of things you can't ignore. that is important, technicians will look at that sometimes
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technical traders make those self-fulfilling prophecies, right? charles: right. >> this is one of those things. the problem is, charles, it is coming at a bad time. we lost a lot of money with investors getting out last year, all those that got the 4% 10-year trade wrong or folks that got $100 a barrel oil trade wrong. a lot of money left a ton of money left. that is on the sidelines. they're starting to get back in. these types of things will force their hand. that will drive us to new highs. when it comes to money and investing, right? i'm a common sense-ocrat i have to look what is in front of me. make decisions. we don't have 4 1/2% 10-year. it tis 1/2%. oil went from $80 to $62 as i sit here. you have those two things. you throw in massively dovish fed and ecb, bank of japan, what does that add up to, you throw in the golden cross? where is this money going to go? charles: scott, to your point with today's big disappointment
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that was a massive build in oil, crude didn't really fall apart. we're breaking out of 60, many considered key resistance. tough wonder, when there is good news on crude, where the next level is? how far can this go? >> well i think that those technicians out there, because we've got geopolitical things with opec playing games again, we're not getting heavy stuff we normally get from venezuela. however because of that that kept a little bit of a bid underneath the market no matter what the supply is and i think ultimately these technical guys are looking towards 63 1/2 to $64 right. there we're off today after the big build. we're nowhere near off what i would expected getting numbers we got this morning so yes, that's holding in there and some of those metals are holding in as well. all these things are pointing to the money will have to relent, coming into the market. they're coming back in from all the signs i just talked about. charles: scott, always great seeing you. always great talking to you, scott. thank you very much.
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>> all right. see ya. charles: fresh allegations against former vice president joe biden as president trump hints that biden's accusations are the work of democratic socialists. is he is right? is there something deeper going on here? >> i was going to call him. i don't know him well. i was going to say welcome to the world, joe. are you having a good time, joe? ♪ 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: it was a good day for lyft. now, though, the shares are paring gains after a "wall street journal" report now reported that billionaire carl icahn sold his lyft stake prior to the ride hailing company's initial public offering last week. certainly a yellow, if not red, flag. meanwhile, president trump taunting former vice president joe biden who faces accusations over his past behavior with
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women. >> he's being taken care of pretty well by the socialists. our former vice president. i was going to call him, i don't know him well, i was going to say welcome to the world, joe. you having a good time, joe? are you having a good time? charles: this as two more women have come out saying that biden touched them in overly familiar ways. danielle mcloughlin is back with us. joining us as well, ford o'connell. the headline in your piece for the hill is a powerful indictment of what i'm calling the woke crowd. tell us about it. >> essentially, the democratic field has decided to no longer attack president trump but basically to turn the outrage machine on the 2020 democratic field because everyone's jockeying for space. i do think that donald trump is on to something here because the allegations against joe biden are one of the worst kept secrets in politics but essentially they are under the microscope solely because his polling numbers are quite
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resilient and he's doing well with african-americans, and essentially, someone wants to knock him down a peg. obviously. i don't know whether they did or not, the inside job, but the two biggest beneficiaries are bernie and kamala harris. charles: danielle? >> i actually agree. certainly if you look at the polling, kamala harris and bernie sanders are coming in after biden. whichever poll you look at, he hasn't even announced and he's head and shoulders above the rest of them. i think that voters will have to make a decision whether they listen to the noise, to ford's point, this is the least best kept secret in washington, d.c., and also, the value, was it sexual assault, sexual harassment or just a guy stuck before the me too era who was a little touchy-feely. charles: although in the very beginning of the me too era, this was enough to destroy someone's career. >> al franken. charles: you touch someone without their permission, you
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held them somewhere unfamiliar without their permission, i mean, people have been upset about this, particularly in the democratic party, does that make it more complicated, though, because it's been a whole lot of same celebrities that have been at the forefront of the me too era, pushing that, who are saying well, maybe joe gets a pass? >> well, i wonder whether actually the al franken example, i think democrats are starting to say maybe they pushed him out too quickly. gillibrand is getting backlash for having done that because he was a very important member of the party. i think that maybe that actually helps biden, they might go easier on him, they might circle the wagons. they care about beating trump. >> let me say this. i think the joe biden situation could potentially upend the democratic me too outrage machine. let's just say joe gets beyond this. he's going to be battling the past and i just don't mean, you know, these allegations. more so in the democratic field, you are talking about anita hill, about the 1994 crime bill, about the only democratic
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candidate who voted for iraq. basically, joe biden's in the past more than the rest of the democratic field but this is going to be the opening volley. forget 2016. the opening volley and something that will wind up with democrats eating their own far worse than the republicans ever dreamed of. charles: listen, it's a party that says they represent certain things and to your point, ford, if he's their candidate, you have to question whether this is the so-called new democratic party. i wanted to also talk about the candidates who are now actually running for 2020 who have announced so far. beto o'rourke just releasing his first quarter fund-raising total moments ago, came in around $9.5 million. bernie sanders, he has $18.2 million. the average donation there, $27. california's kamala harris, impressive $12 million haul. indiana's mayor pete, get this, folks, mayor pete raised $7 million and andrew young just shy of $2 million. yang, sorry. i went back 30 years on that one. ford, your thoughts on these
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hauls? >> just so people understand, 2007 at this point, barack obama raised $26 million. these numbers are not all that eye-popping. i don't think you can discount them because what it's going to tell me is bernie is in for the long haul. he's not going to come out. it tells you mayor pete is gaining some steam. in the spirit of march madness, i hate to say it, we are already down to the democratic final four. the three bs, bernie, biden, be beto and kamala harris. >> this is because democrats care so much about small money donations. it looks like bernie sanders is asking his supporters to make sure they actually do do frequent and small money donations because he knows that matters and is somehow representative of a groundswell of support. charles: maybe one person donated five times, $20 each. it resonates in the headlines. >> right. he's telling the story -- charles: who, you know, it's early but does this give you a sense maybe we know who's going to do well, like we can almost count out cory booker?
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>> well, it's interesting, mayor pete, for example, has basically no name recognition around the country but his fund-raising numbers are impressive. >> i disagree with you on this point. democrats focus on charisma, not resumes. charles: got to go. liz claman is waiting. the last hour of trading the most important, right? liz: you are so right. breaking news after a quick lunch, we are hearing trade talks with china are back under way at the offices of the u.s. trade representative right now. chinese vice premier, liu, just arriving for the afternoon session. could 90% of this bilateral deal really be done? we will have a live report from the scene about where things stand exactly at this moment. will he or won't he close the border with mexico? trade a major issue at the border as president trump threatens yet again to seal off that southern border with mexico, but some of the president's biggest booster states are now crying foul. why the stare

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