tv Making Money With Charles Payne FOX Business October 13, 2017 6:00pm-7:01pm EDT
new ceo. you know, we hope you have a good weekend. charles payne is here now with making money. charles: good evening, i'm charles payne and you are watching "making money." fast-moving developments across the nation. but we start with escalating global tensions. president trump unveiling a sweeping more aggressive policy toward iran saying he will not recertify the agreement made with iran in 2013. >> based on the factual record i am announcing today we'll not make this certification. we'll not continue down a path whose predictable conclusion is more violence, more terror and the very real threat of iran's
nuclear breakdown. charles: today's declaration leaves the obama-era deal in a place, but it leaves congress to reimpose sanctions. president rouhani says they will stick with the deal. but it depend on what the united states does. this was well telegraphed. president trump appears to have taken in some of the considerations from some of the folks in his foreign policy team. but making it pretty clear to iran that they are violating the spirit of this deal and he's going to make sure they change their course of action. >> president trump delivered a tough, robust speech with harsh
rhetoric. a completely different tone from president trump's appeasement approach to iran. this was a strong statement today. and decertification was an important first step in terms of dealing with the huge overwhelming threat that the middle east faces from iran. that the west faces in general. and so he set definitely the right message to a hostile regime. decertification is the first step along the path to the united states withdrawing from the deal. if indeed congress moves forward with reimposing u.s. sanctions against iran, the united states would no longer be harty to this agreement. this is a big move by the president today. the iran nuclear deal without a doubt is a bad, reckless deal
signed by president trump without any support from the united states congress. and a very bad agreement for u.s. interests. charles: having said that, it was a deal signed in partnership with european allies. the european union said no one person can unilaterally unravel this deal. where do we stand with respect to them pointing a statement directly at president trump saying they think iran is living within the spirit of this deal. >> there is strong opposition to u.s. decertification and u.s. withdrawal from the deal. the strongest opposition is coming from the heart of the our wean union and france and germany. i think for the e.u., there are a number of factors. national security isn't exactly top of the list for the european union.
the e.u. cares about the huge financial interest at stake for many european countries. you look at the large amount of deals being conducted between french and german companies. there is a lot of money to lose here. after all, france's biggest oil company is work for a $5 billion deal with iran. there is a lot of money at stake. president trump has to do what is in the u.s. strategic interests. what angela merkel or macron think of the deal is irrelevant. what is paramount is the u.s. national interest and i think president trump is acting in the u.s. national interests today. i want to bring in a former intelligence agent, and rebecca
grant, a former secretary of the air force and independent research president. so now his lands in the lap of congress. not a lot of folks these days have confidence congress can get anything done, even something like this. how do you see it playing out? >> trump has taken a good approach. top officials were briefed the last couple days. there is a background for congress to consider. trump is seeing intelligence every day on the mischief iran is making on the battlefield in syria and iraq. our forces had to shoot down two iranian-made drones back in june because they were threatening our coalition forces. what is the role of iran in the post combat aftermath in iraq and syria. trump has made a brilliant move to get more maneuvering room to
look at the nuclear deal and how we go forward with regional stability. this deal says it takes iran from being 2 to 3 months away from a bomb to a year away from making a bomb. that was the maximum claim made. a very flimsy deal. charles: michael, how do you see this playing out? it's unlikely iran would okay any major significant changes to the bill, particular hi when you have got the e.u. behind them and feckless members of our own congress. >> two things happened today. secretary mnuchin warned european and u.s. companies that doing business in companies in iran tide to the revolutionary guard corps could result in the u.s. treasury targeting those entities.
european, american, targeting with sanctions. the president said you have three months to do something about this. if you don't, we'll kill the deal. we can work with our allies and present iran a deal without them having a say. basically not having a wreath at the table and saying these are the negotiations. we want access to these sights. no ballistic missiles. charles: what about the spread of terror in the region? this is part of their core goal. it's hard to manage them giving that up. >> they are going to have to. the entirety of the deal was designated today. anybody with a proxy militia in
their company, they have to purge them from their security forces. i'm talking about syria, iraq, beruit and yemen. there were a lot of entities that can be targeted. the revolutionary guard corps is bigger than decertification. this is the first time the government designated a country's military as a terrorist organization. charles: that was the headline. going after the iranian revolutionary guard, president trump took a firm stance against them. >> this sends the right message. the revolutionary guard's activities run through every aspect of the iranian government. also by target be the revolutionary guard you will also target and hit the iranian economy and a large number of international companies that do
business with iran. so the tentacles of the revolutionary guard spread throughout the iranian regime. this is a very important first step. >> rebecca, on the other side of this. can this spark or trigger iran to speed up their nuclear program? >> they are so close already. the missile defense agency said they can build an interest couldn't mental ballistic missile any time they want to. they will have to think very hard. it's a risk we take. but when they were only a year away, it was a flimsy deal. but president obama said we have to try to make this a better deal. charles: president trump unraveling key parts of obamacare, putting pressure on democrats to negotiate in good faith a fix on something that everyone says is broken. we have the details right here.
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switching gears, following up on scene executive order and the effort to begin to gut obamacare. the white house said it will end billions of dollars of payments to insurers unless congress can reach a bipartisan deal on healthcare. chuck schumer says they will continue the subjects does for healthcare premiums. beverly, i think this is where we have seen president trump's businessman savvy and negotiating skills come into play. these are tough tough things to do. there will and lot of pain involved for a lot of people. but i think ultimately it's the only way we'll get things done in washington, d.c. >> he will turn this into he's the master of the art of the
deal. he will make sure republicans and democrats move forward with healthcare reform. this is a campaign promise of his to do this. many people have wondered why it's taken him 10 months to do so. but regardless of his reason to do this. the most of important thing is it returns the power of the purse to where it should be which is in congress. >> critics say the way it's being gutted, if you introduce this across state lines, you will effectively help obamacare crumble sooner rather than later. the purpose of these payments was to control since premiums. premiums more than doubled since obamacare went into effect. they were completely unconstitutional. the other executive order the
president made will begin to make affordable insurance legal again. these are temporary fixes. but we have to keep the pressure on congress. but it will be sufficient this week. charles: before any, what about the notion that moist officially belongs to president trump. the democrats saying you have done a spiteful series of moves and you are the new owner of it. >> it's important for republicans who are look at mid-terms for him to push forward something. but i want to go to the democrats' narrative. anyone in the individual market is not affected as all. even those who are affected, affected even controlees in the d affected enrollees. there is already protection for them. it says this illegal action to
give a bailout to insurance companies is no longer aloud and puts the balance of power into congress which is where it should have been all along. >> we need congress to act, to do something bold. you talk about president obama's campaign promises. they wanted the republicans to repeal and replace. how close can we come to something as authentic replacement? >> there is more the president can do between 1332 waivers. there is more he can do to help lower premiums. but the pressure has to be on congress. they will have to score a victory for conservatives. i think healthcare continues to be an opportunity to do so and as close as they can get to repeal. to make affordable insurance legal and bring down the premiums. charles report affordable care
act not so affordable. the death toll rising from the wildfires raging out of control in northern california. firefighters are preparing for another round of strong winds. we have those details next. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
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♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪ charles: thousands of firefighters are working you rounds the clock in northern california struggling to contain the many fires raging out of control. right now 32 people are dead. many others still it unaccounted for. robert gray this napa with the latest. reporter: we are at the nap a county fairgrounds. this is the staging grounds for the firefighters fighting the biggest blaze in the area.
earlier date was calm, no wind. the firefighters were more confident they would be able to get this fire under control. the atlas fire burned 48,000 square feet so far. the wind is picking up. it's getting smokier. the gentleman up in sonoma, he said they are expecting winds of 60 miles per hour. that's a concern for spreading the fire and trying to get it contained. that will be a key factor heading into the weekend. one industry that's been hit hard is the marijuana industry. it's legal in california. and fires are decimating farms there. even the crops. so a lot of people had cash on hand, totally burned up.
insurance is a big problem. and there is no federal relief aid. that's one industry feeling the brunts of the flames here. the wine and beer business here as well. peter kruger, rub brewery, he said he grew up here and has never seen anything like this. he said this one slowly unfolding. they have been serving first respond erms free of charge and are open to the public. a lot of evacuees are finding their way into the restaurant because they don't have a lot to do at the moment. stone brewery is working with craft brewers and they will be donating emergency funds. $50,000 to direct relief. and the gallo winery is donating $1 million and will match
employee donations. we are going to continue that follow that story for you. obviously a big concern is the tourism business if people stop coming after the fires come. that's a key to the economy. charles: fire destroyed the home of our next guest. you large a home and a large portion your business. describe this for us. obviously you dealt with these fires before. apparently this may be one for the record books. >> yes, it's the first time we encountered any fire issue at all. though it's always a danger where we are and we are always aware of it. but this is the first time we have actually experienced it and, you know, it's pretty
overwhelming. it's -- if i may, i'll give you a rundown. we lost pretty much all structures. the guest home and its contents and all of our barn and equipment shed are gone. and the equipment was affected. as far as our business itself, meaning the winery. we always look for a silver lining. our winery is a cave in the hillside and it was totally untouched. i was able to get up yesterday and check out the contents of the cave. which is wine aging in the barrels, and everything was fine up there. only lesson to be learned. i wish we built the house in a cave. charles: were you insured for the home? >> yes. charles: what about your employees? how are they handling this. >> i only have a couple of
employees. we are not big enough to have much in the way of benefits. we bring in crews at harvest time, but full-time, around the year we just have a couple of employees. they are hourly. and it's unfortunate for them obviously. charles: you talked about building a home in a cave. but before i let you go, what are some of the lessons as that area rebusiness that should be a key focus? >> well, one thing where there have been vineyards. even though we had some damage in our vineyards. they work as wonderful fire breaks. they are green, growing vients with a lot of water from the irrigation. there is a big movement from
certain factor or factions, i should say, about limiting the growth of vineyards. wherever there was a vineyard it helped save some destruction. i think we have to relook at that whole issue of working with nature. charles: people are saying as mankind encroaches first and further into nature these things will happen with more frequency. glad you are okay and thank you for coming on the show. ... 9 out of 10 couples prefer a different mattress firmness,
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>> charles: well president trump today back pedaling somewhat from yesterday's comments about removing fema officials from puerto rico in the near future tweeting the wonderful people from puerto rico with their unmatched spirit know how bad things were mr. the hurricanes. i will always be there with them the president's tweet comes amid a bomb shell fox news story that the fbi is investigating a local official allegedly miss mishandling fema supplies trying to be distributed joining me now to discuss a wall street journal editorial page writer and emily washington examiner ron meyer washington examiner columnist emily i'll start with you. you know the political station of this from the very zinning has rubbed me the wrong way. people are dying people are trying to figure out how to get
their power on and food and water and the non stop attack particularly on president trump i thought was unfair. how much of a role did he play with some of the tweets? >> well that's a great question because i think it is fair to lay some of the blame for the distracted coverage on donald trump's feet because his tweets are very inflammatory in ways you don't expect a president trying to heal part of his nation but at the same time my goodness this is a really serious story and very typical of the media in this presidency to let itself get distracted by these tweets when there are substantive things happening that need more coverage so we need more discipline from the media to sometimes probably let those things go. we expect them, many months into this presidency at this point. that's not to say we should say they're all normal but at least let's expose the substantive problems here. >> charles: we need discipline from some elected officials. the mayor of san juan throwing around words like genecide.
it's just that's totally irresponsible. that's wreckless. >> if we're talking about political accountability here what we need to have happen next so there is this thing called the jones act that says anybody bringing supplies to puerto rico it has to be on american-made ships and american-manned ships. the trump administration issued a waiver but just for 10 days and puerto rico is rebuilding for a really long time. basically we're limiting the reconstruction to 99 ships, that's kinking the hose. >> charles: makes it more expensive. >> way more expensive so talking about productive political things this is one of them and i'm curious way a 10 day waiver would be enough. >> charles: ron i'd love to see them get rid of the jones act. i've argued that for a very very long time but while that's being hashed out because it's going to take more than a removal of the jones act talking about puerto rico being 70 billion in debt, 40 billion unfunded pension liables needing so much money. i like to see the private sector
in there. i remember 100 ceo's going down with president obama to cuba couldn't wait to spread billions of dollars. what about puerto rico? those are american citizens. >> yeah absolutely. some sort of what they're doing for the metro washington or some proposals are to have airer form board, you almost need a reform board to take over puerto rico and help get on its feet and as far as congress goes that's what they will do and i think donald trump's tweet was misinterpreted saying we can't be down there for ever. some of the things he tweets about the first amendment haven't been great but for this one saying we can't be down there for ever i don't know how everybody took it more as a call to action for congress and for the leaders down there that we have to figure out a plan how to get puerto rico on its feet in the interest of the entire country and trump i think does have to do a better job of messaging this and he's upsetting folks especially with puerto rico and their families but let's be honest i think overall, he's done as much as he
can from an administration perspective trying to help and we do need to figure out what we're going to do with puerto rico, with that debt, with that economy and you're right there is incredible opportunity there. >> charles: it's interesting because of course we can't be there for ever and you think about these responders, emily, fema you've got hurricane harvey , irma, maria. you've got the situation now with the wildfires. they are stretched thin. there's a human capacity and an economic capacity so you know, maybe the messaging could be softer but the reality is the reality. >> that's absolutely true. our resources are being very much stretched right now. with all of these tragedies and i think we're absolutely right to say donald trump is in very much for the people of puerto rico but he knows better than anyone the media will go out of its way to depict him as a heartless not compassionate conservative, the routinely treated to that and so i think it would help his messaging to acknowledge that and you have to put within that framework unfortunately it's the reality.
>> charles: the tweet today expressed a lot of compassion that really felt heartfelt and to me it says maybe i made a mistake, here is how i really feel and you've got my commitment of course we won't read about it but that's what was put out there. >> yeah, i wish the media were paying more attention to making a distinction between the puerto rican people who are very deserving of help right now and sympathy and us the puerto rican government which has been corrupt some of the labor union practices down there certainly aren't helping the problem and fema, you can draw that distinction. >> charles: of course fbi investigating several mayors who are hording the relief for themselves guys thank you all very very much. meanwhile the major averages ending the day on a high note nasdac hitting an all-time record close, i'm going to tell you about sentiment, it was huge but it's got so much more room to the upside, be right back.
>> charles: weinstein issuing a statement to the la times declaring the weinstein film studios not shutting down it's not for settlement claims of sexual harassment aimed at his brother harvey. penot caused by a heart valve problem. but no matter what path i take, i go for my best. so if there's something better than warfarin, i'll go for that too. eliquis. eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. eliquis had both. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily... ...and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical
or dental procedures. i'm still going for my best. and for eliquis. ask your doctor about eliquis. >> charles: it was another strong session for stocks after retail sales came out this morning very impress off numbers in fact the biggest rise in more than two years and many of the components got a boost from replacement of course driven by the aftermath of hurricanes harvey and irma but i'm going to tell you i continue to believe the demand is more than replacement and then there's consumer sentiment with surge to its highest level since 2004, more impressive was the 19% jump in the index of what consumers are expecting six months down the line. people are feeling better about the future and believe me, that carries a lot of self-fulfilling aspects to it but what i want to point out is the dow jones and the consumer sentiment both of these reached all-time highs at the same point, this is in january of 2000, since then, the dow which by the way endured two
major crashes is up 95% you know what consumer sentiment is? it's still down 10%, 17 years later. so consumers, they've been guarded for almost two decades in the so-called wealth effect of higher markets just couldn't overcome the pain and the resentment of big stumbles under both political parties so that might be changing and if that's the deal, it would be monumental and certainly could lead to more the 3% gdp growth. of course nasdac closing at an all-time high today, reflecting tech names that reignited momentum led by netflix that report earnings on monday. i got to tell you wall street has been so wrong about this stock for so long that now everybody is bulletin just the last two weeks, four upgrades on this stock including goldman today hiking its target to $235. there are also upgrades in google alphabet, amazon everyone is betting on these names to do very very well once again. so, there we go we come back to
tech names come back to goldman sachs come back to all these major companies as you can see here, getting these upgrades, wall street ready for them to take the lead one more time. so we started out earnings season with the bank numbers, but we're going to get to the names big names that really should get us going i'm very excited about this market. i think that where it's potentially we really have potential to get into gear much higher gear. it depends on how earnings shake out and there are bumpy parts but for that you must read my morning commentary every morning go to wstreet.com guys you should be making money. by the way a programming alert you don't want to miss wall street week tonight just give you a sneak peak, the founder of double line capital. >> the bit coin is either worth a million or zero. it's not clearly not investment. it's clearly not a currency. bit coin a month ago was at 3500 now it's at 5,000, so it's changed by about 50% in a month.
that's not a currency i've seen it drop 10% in an hour, so how do you buy a car with something that's changing value 10% while you're filling out the paperwork >> charles: someone is not liking the bit coin watch that at 8:00 p.m. here on fox business and stay tuned because at 8:30 you don't want to miss bob massi he is the property man coming up president trump putting his best foot forward to protect our religious freedoms is what america was built on we'll be right back.
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seen before. we will not allow government workers to sensor sermons or target our pastors or our ministers. >> [applause] >> president trump: or our rabbi s. these are the people we want to hear from and they're not going to be silenced any longer. >> charles: president trump pledging to cherish, protect and defend america's religious heritage during his address to the values voter summit today. the president also promising that the government will no longer interfere or "silence" the nation's religious leaders. joining me now ceo of the family leader. bob, thanks for joining us. you know, it's just remarkable to me at the beginning of the campaign for the gop nomination the values, voters summit, they took a straw poll president trump at the time got 5% of the vote. he ended up winning over that group of voters going into the election and they probably
pulled him over the finish line and it feels liked to he came back and said listen i left, i kept my word to you. do you feel like he's lived up to the promises he made along the campaign trail? >> i think he really has especially on this one. when you take a look at it, charles, initially we had 17 candidates running for the republican nomination. we had our leadership, we had 10 candidates including donald trump on stage and one of the key things in addition to the supreme court nominee which we got gorsuch which is a huge applause for donald trump and the presidency but was this religious liberty issue, and so what he did today and what he did last week, friday, doubling down the order and protect our religious liberty the first amendment we're not going to silence the churches. these are the people we need to hear from. that's huge and that is music to our ears and so as i've told you before, being a friend of trump, we cheer him on when he does things well. we try to hold him to account
when he needs to be held accountable but right now we're cheering him on. that's big news for the faith community. >> charles: what do you say to those who say religion and religious leaders were never necessarily necessarily under attack in this country and that this is not necessarily a big deal? >> oh, it is a big deal. all you have to do is take a look at the photographer, the baker, or the person that's operating a venue. they've been sued and sued out of business. take a look at what happened in houston and i think president trump referenced that today where a mayor wanted to basically sensor the sermons that were going out in houston. no sermon should be censored. we want to hear the sermons. we want the public to hear and hear what god's word has to say so we can invoke that into a culture so we know what right and wrong are in a culture and i think that's what president trump was saying today. >> charles: how important is it that the president promotes
christian values and how important has it been to the success of america and in other words, has that been a key component of why america's the greatest country in the world? >> without question. i think when you talk about american exceptionalism, right there is where it's at. george washington had a right where he said there's two in acceptorrable rungs to this thing we call a republic and that's religion and morality. religion is theres a god meaning there's something higher than charles something higher than bob so let's aspire to god's law versus ourselfish desires and then morality, is if you're going to govern yourself you need to be good and governed by a moral code and that moral code comes from the scriptures of what we know defines right and wrong. >> charles: we've lamented so much about pushing god out of schools and other parts of our lives and consequently some of the issues we're dealing with as a nation some of the tougher
issues. merry christmas, is that, the small word two words is that in and of itself just think about how much has been pushed out of advertising in-stores and things like that if we can even start to say things like that do you think we're back on a road to sort of being the nation we were once were? >> well, after eight years of president obama, who actually lived out pretty good family values with his wife and two daughters but his policies were completely anti-family and it seemed like it always wanted to drive god out. even at the democratic national convention where they wanted to take god out of their party platform. so now that you have a president whose willing to acknowledge god , willing to champion religious liberty, willing to give people freedom again to say merry christmas, all these stock markets that you like to talk about on fox business and how they're doing so well today a lot of them are going to make a lot of money come around christmastime. it's time we shell the happy holidays and actually say marry
crist yeahs. >> charles: i'll say merry christmas to you now and god bless you and i appreciate you coming on bob things. >> god bless you charles. >> charles: coming up president trump has a message for fake news. if you mess with the bull you'll get the horn. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone
get e*trade and get invested ...has grown into an enterprise. that's why i switched to the spark cash card from capital one. now, i'm earning unlimited 2% cash back on every purchase i make. everything. what's in your wallet? charles: a source telling a.p. that twitter turned over profile names or handles of russia-linked accounts. people are just now starting to find out how dishonest and disgusting fake news nbc news is. viewers beware, it may be even worse than cnn. this comes on the heels of
another anti-nbc tweet. at what point is it appropriate to challenge their license. bad for the country. what are the legal ramifications if president trump decides to challenge their license? gregg, the legal ramifications. we know the first amendment has broad protectionsbut is there ae president can do? gregg: he can file a complaint like anyone else. but the president is putting pressure on nbc, start telling better stories with better sources that are truthful and stop spiking important stories like harvey weinstein.
charles: so the fcc can make action? it is a 3-2 board, republican leaning. is there any ramifications for fake news? >> there shouldn't be. this is disturbing the president is suggesting the government should censor private citizens. you can go after if they libel or slander you or incite violence. the way you handle a story you don't like, you tell your other side of the story. you don't attack the storyteller. i think it's disturbing that he doesn't seem to understand first amendment rights or appreciate them. gregg: if there is evidence of systemic recklessness and bias in reporting then a network would not be fit under the
standards of the communications act which the fcc regulates. that would be the legal basis for challenging them. >> even if you make the argument they are bias, that's a slippery slope. i don't think if we have a democratic president next we'll have the administration saying these stories are biased. gregg: how is it serving the news interests if you have a network killing stories involving liberals they like. >> isn't it greater disservice to use government power to censor. gregg: the american public has a say in this and their voice is the fcc. they are an independent body and they can arrive at their even judgment if there is sufficient
evidence. charles: nbc has been slammed over corruption. the network denies it. but something that egregious when it's obvious they are always after president trump. how do you reconcile the two? >> i think it's a terrible story and you can be upset about the made yams handling of that and other stories without believing government censorship is the best option. if i'm reporting and threats to free speech on college campuses i can't turn around and say it's okay to suggest they should go after people because of their viewpoint. gregg: it's a myth to suggest the first amendment gives you unfettered right to say and do anything. >> if you libel, slander or incite violence.
gregg: congress passed a law that said the fcc can make a judgment on the fitness of a broadcast news organization. lou: good evening. breaking news tonight. the president today announcing major foreign policy decisions on iran. first, president trump has designated the iranian revolutionary guard corps to be terrorists. this is the first time the united states has verde clareed a military unit of a government to be terrorists. president trump also announcing his decision to not certainify the iran nuclear dl. the president took these actions becaus as he has said often, he find the obama agreement to be unacceptable. and president trump vowed to cancel it all together if congress