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tv   Making Money With Charles Payne  FOX Business  July 16, 2018 6:00pm-7:00pm EDT

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describer results. charles payne is here with "making money." charles: president trump is on his way back to the u.s. after his first official one-on-one meeting with vladimir putin. in a joint bombshell news con fronts media fired out questions about whether russia meddled in the 2016 election. reporter: president trump on board air force one on the atlantic headed back to washington after the joint press conference and a week overseas that cull any tbhaitd this press conference the president clearly on board pair force one hearing
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or seeing the harsh criticisms that have come his way, he released the following statement on twitter. i have great confidence in my intelligence people. but i recognize to build a brighter future we can't exclusively focus on the past. as the world's two largest nuclear powers, we must get along. but he did not side with the intelligence community earlier today. >> dan coats came to me and some other came to me and said i think it's russia. i have president putin, he said it's not russia. i don't see any reason why it should be. but i do want to see the server. reporter: the intelligence communities long declared that
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russia did indeed try to drum up chaos in the 2016 election. dan coats put out a statement earlier today after that press conference reaffirming what the intel community found, saying in full, quote. the role of the intelligence community is to provide the best information and fact base possible for the president and policy makers. we have been clear in our assessment of russian meddling and their ongoing pervasive efforts to undermine our democracy. we'll continue to provide unvarnished and objective intelligence in support of our national security. putin continues to deny russian meddling and gave this plunts assessment and gave this assessment when he was asked yes should be trusted. >> where did you get the idea that president trump trusts me or i trust him?
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he defends the interests of the united states much america and i defend the interests of the russian federation. reporter: you should trust no one, vladimir putin said. one of the criticisms came from john mccain who called this one of the most disgraceful performances by an american president in memory. the statements have been coming out from capitol hill. democrats and republicans alike. i don't believe there has been a single congressional republican who put forth a statement today back the president's press conference. charles: today's events wear full of shockers. one involves the man' who is liked to public enemy number one. the law is named after his lawyer and accountant' who died in this custody in russia.
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here is vladimir putin earlier today. watch. >> we can bring up the particular case. the associates of about browder earned millions in russia and they never paid any taxes in russia or the united states. charles: here is the press conference everyone is watching and your name trips off the lips of vladimir putin. what were you thinking when you heard that? >> i wasn't watching the press conference. all of a sudden my phone started burning up with messages. when i saw what he said, my first reaction was, wow, i have
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gone the underneath vladimir putin's skin, the legislation to punish' putin cronies for the murder of my lawyer and others upset vladimir putin that he'll bring it up in a summit press conference with the most of powerful leader of the free world. charles: you made several bullet points, a bald face liar, has the temperament of a coldblooded killer and values money over life. when president trump started, the first statement out of his mouth, i would rather take a political risk in pursuit of peace than risk peace in pursuit of politics. >> there shouldn't have been a
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summit. vladimir putin is a menace to the world. he changed the borders in europe for the first time since the second world war. he's bombing innocent women and children in syria. he promised to take await chemical weapons that weren't taken away. he cheated in the olympics. this man is a global menace. for us, treat world, to put him on the stage with the most of important person in the freed world on an equal footing. then have him come an hour late to the meeting is totally and absolutely inappropriate. there was no great consequence to the summit other than putin making all these idiotic statements he made about me. charles: they are a nuclear powerhouse which is why they have been included in a lot of important summits around the world. and they are someone we have to contend with. when it was all said and done, a
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lot of criticism, everyone including myself, thought donald trump would and lot tougher. i thought he would go for a couple knockout punches while he had putin in front of the whole world. now that the criticism is flowing in and president trump recognizes that to a degree, where do you see this whole thing going? >> there is nothing about nuclear weapons going on here. we are not using our nuclear weapons on them and they are not using them on us. appeasement doesn't work with a bully and a criminal like putin. george bush looked into his eyes and saw his soul in 2001. then the next 30 some-odd meeting were a disaster. barack obama tried to reset relations with putin, and that was a disaster. nothing works with this guy. he looks at it as total
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weakness. putin was the victor today, donald trump was a big loser today in how he dealt with vladimir putin. charles require wants to bring in our panel now. robert charles, former and secretary of state to colin powell. robert, let me start with you. is it that definitive, there was a definitive winner, vladimir putin and a definitive loser, president trump. and the questions were all about an election in the past rather than nuke yarg proliferation, russia's grand' ambitions. >> franklin roosevelt sat down
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with josef stalin. the bottom line is out of this event, your last guest said it doesn't have anything to do with nuclear weapons. the new stark treaty is up for renewal. sow it does have to do with nuclear. out of this summit you have agreement to disarming with north korea. you have got an agreement on cyber-security and aloud mueller can send his people over to talk about the extraditions. and we got coordination on syria. so it was not a lost cause. ronald reagan first summit with gorbachev was a disaster except they came together to have a good communique in the end. a lot of people are asking, why
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didn't -- why didn't the president take down putin in this press conference. what he should have said is i have doubts about the political leadership of the intelligence community and the prior administration, but i have a good, good group now, and i am keeping my eyes like a hawk on 2018. charles: although president trump's trip has been -- the hall mark it has been toughness, and the hallmark of it has been calling out injustices aimed at america, rather friend or foe. in this particular case people felt he missed a major opportunity to call out vladimir putin on the world stage in front of everyone. and beyond that getting a lot of criticism for pushing back on his own intelligence apparatus. >> there is a contrast to the performances we watched at the
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nato summit and the u.k. i don't think that the president could feel wonderful about how that exchange came across to the audience immediately. but this is part of his trying to get back to a more real iist- a more realist foreign policy. this is the beginning of a multiple-act play where he wants to take russia. do you have the leadership and will to moist into a better place? charles: i know president trump started off saying the relationship was bert then now than it was two hours prior. but after the press conference and the postmortem, have we moved the needle? >> i think it's aspirational. we have a habit of judging results quickly on these events. we need measurable results that follow up. if there is movement on north
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korea and balancing china, it was worth it. by the hasn't come across in the near term like one of those big successes like getting the nato partners to pony up. >> part of what he's trying to do is try age few late russia in address -- triangulate china's threat. charles, you know in business, one of the primary principles is you criticize in private and praise in public. i think to some extent that's applies to diplomacy as well. charles: if you have the meeting in nato and you call out nato in germany in front of the world, people anticipate you will do the same thing when you go to russia. i think that's the difference. you didn't do that, you know. and that might be the way things
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are normally done. ironically enough, it's general states craft. but you tore up that playbook a long time ago. vladimir putin saying he wanted trump to win, i think what he's doing is playing us again. that was another form of that manipulation. we'll get more out of that than all the manipulation and facebook ads. he was going to get more mileage out of the headlines from the mainstream media going deep on that than anything else. >> it will get headlines and spun like crazy and repeated over and over. what he was saying is a simple thing. he was basically saying if you have two people computing -- competing in an election,. but the context of the statement is shocking. charles: we'll discuss the political ramifications of the summit.
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charles: president trump did not call out vladimir putin on meddling in the 2016 presidential elections. here to explain, ford o'connell, a contributor to "the hill. ford, you will have the usual republicans i think had -- would have questioned president trump or criticized him no matter what. but there are also others, people who supported president trump since he has come into office who said this isn't what they were hoping. they were hoping he would be tougher. what is your assessment of today
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and what does it mean as we go on into the political season? >> i think it was a missed opportunity to confront vladimir putin. going forward the elections what trump needs to make the case, there are my words and there are my actions. my actions on vladimir putin have bench stronger from dispelling diplomats to energy production to getting nato to increase its spending. i have been stronger the last two presidents. i just need to be a little bit more clear about that. charles: the actions have been significant. again, ford makes the point recently in light of the fact that america watched crimea be taken by vladimir putin. we didn't put up any sort of resistance. how much do you think democrats
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will make of the summit particularly as we delve deeper and say we might be the summit and there are the actual events that have taken place since president trump have been in office. >> everyone is up in arms. i have some diehard make america great again friends peeling off today, much to my surprise. charles: you mean they are not going to support the president any more? >> today was tough. as a patriotic america-loving vet, this was hard to stomach. i had a lot of people calling him treasonous. i see no way to look at this other than he did betray his country. charles: how was it treasonous? what he said today, i can see saying he conflated meddling with collusion. i know he's upset about the
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legitimacy, people still questioning the legitimacy of this victory. i don't see where treason came in. >> he took the same oath i did as a soldier to protect and defend our country against enemies. instead he toes yesterday up to our enemies. he said vladimir said he didn't do it and he has reason to believe him. it's concerning. his job is to defend us. this is not an attack just on him. it's an attack on our democracy. charles: treason is a bridge too far. ford: that's exactly right. everyone has lost their minds. i have a lot of respect. but four months from now this isn't going to mean a darn thing. if you believe russia and trump
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are in cahoots, you will still believe that. this is a nothing to me. i think we are spazing out too soon. charles: we'll be right back. in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today.
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charles: one of the questions people are asking after today's press conference is what are vladimir putin's future ambitions. the former kgb agent has harbored dreams of reconstituting the ussr and even grearnd. russia has a big presence in the middle east. and they played a big role in the syrian conflict. joining knee, a former u.s.
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ambassador to iraq and turkey. james, many of the this read over the years suggest that not only does vladimir putin believe that the old satellites of the ussr block to the current-day russia. but his ambitions and actions have taken it beyond that scope and now he's firmly in the middle east. what do you make of it? he's not firmly in the middle east. he's in the middle east because wheat israelis and the turks allow him to be in syria where he does have a presence. he would like to replace the soviet union with a new russian empire. but he's not going to do that. he wants to pull down the global security system and replace it with the 19th century with russia, china, the e.u., the israelis, saudis, the turks call the shots and everybody else does as they are told.
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it went well for 99 years until 1914. >> i agree. i i vladimir putin is looking for a multi polar world. he sees the united states in decline. i think he loved the obama administration. obama refused to get involved in syria. he stated he wouldn't go in response to the war taking place there. putin only needed to hear that so many times before he decided to go in himself ostensibly to fight isis. but now what he's look at is the opportunity to sell weapons around the middle east, to gain new clients around the middle east. he cozies up with iran and his mullah and the assad regime. i think we can expect him to double down on that primarily because when didn't hear much from the president telling him that was not how responsible
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actors on the world stage act. charles: though i did hear president trump mention china and xi early in the conversation. could one of his goals today to have been to play them off each other which has been done historically and considering how rapidly china is growing in the world, maybe russia can play a role in checking their ambitions. >> i'm not sure there is a grand plan. there might have been an assumption on the path o -- on e part of the president. but i don't think he made the point he wanted to. that's the concern. it was a disappointing performance. there were opportunities lost. at the very least he could have bared his teeth and snarled at putin letting him know things that happened under obama couldn't happen under this
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watch. charles: james, how can russia whose economy was $1.5 trillion, down from $2.3 trillion. one-dimensional economy with a tremendous amount of graft in the black market. howw can they have the influence you described and rye constitute a world. i don't think fit happens it will be because they are the architects of it. >> you are right. they are as successful as they are because putin is a master in the choreography was masterful from putin's standpoint. he plays his cards very well. in sir yea's everybody's friend. but i think trump was trying to find russia as an ally against china. trump realizes an has done more than anybody else has done particularly on trade and the economic side. that's the real challenge we
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face in the 21st century. putin may not play along. trump apparently was not tough on any of these issues with putin. but we have a low standard. we are afraid trump is going to give away the store on ukraine, crimea, syria, pulling out our troops, abandoning the israelis. i don't think he did that because i saw nothing in putin's statements that showed that. charles: his actions have been tough compared to the prior administration. charles: a top intelligence officer says we are facing a cyber-security equivalent of 9/11. we'll be right back.
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i will bet you couldn't have guessed them. here to discuss, dan chin. and back with us steven yates. lester, on this notion -- i guess we always said the grid is vulnerable. but it feels like perhaps there is a great sense of urgency to do something about it. >> that's right. we have mueller indicting russians for their bad acts. the last time of this happens the administration followed up and imposed sanctions. it would be nice to see the administration step up on do that again. despite the soft rhetoric we heard from the president earlier today. charles: last week indictments, it was sort of embarrassing. so many of these things came from good old-fashioned techniques that had been around
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for 30 years. if we are not up to snuff on stopping spear phishing, russia can do harm to our economy. >> they aren't the only ones. we have become much more aware of the risk of cyber-security. but we are much, much better than diagnosing than break to do about this. i think we had a risk of some of these kinds of things at least at the scale of 9/11 for all the years since 9/11. i think we have great awareness because of the election controversy. but it's far from limited to them in terms of its vulnerability. our freedoms and human failings are what give them an opportunity. charles: how does this play a role in policy making and play a role in our negotiations? >> one of the things that should
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be worrisome is the extent to with it other side may be reading our play books. when you consider how poorly we think about cyber-security. part of what comes through in the indictment is the fact that you have passwords listed as "pass word." you had default security settings. you shouldn't be surprised the other side is going to go straight through the unlocked front door. charles: we note vulnerabilities exist. we hear the bad guys are one step ahead. if russia decided to flip the switch and create havoc within our country. what would it look like? >> i would be worried about the november election, frankly. we have an important referendum on the president and the two parties coming up in november.
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despite what putin said that they are not targeting that election, i don't believe them for a second. if the american people lose faith in the electoral process, that's a dangerous thing. i would not count out u.s. defense capabilities in this area. we invented the internet, al gore or not. and we are good at understanding what's going on. as you saw in the mueller indictments. we have granular knowledge of what the bad guys are doing. i'm not super worried about it but we need to focus on it. charles: president trump talked about a space force. are we at the point of a cyber force? should we have a dedicated military unit monitoring it? >> we have cyber command and a lot of sources thinking about cyber-security. the issue isn't legal authorities.
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if somebody attacks google, what is the role of the u.s. government. should it? chart * are you concerned about the mid-term elections and cyber meddling? >> i think the best defense would be a good offense on this. charles: we'll be right back. and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
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the economic data. we are probably going to get a great glimpse into how the second half of 2018 might fare with the guidance. the scoreboard was impressive. your average revenue growth was 8 .1%. consumer discretionary results are 15% better than consensus. consumer staples earnings are 4.1% better. the big surprise was bank of america which beat the street on revenues and earnings. i was impressed with how bank of america did. the company got back into this odd business of lend. low growth was faster than positive growth. the business loans were up 5%. consumer loans were up 6%.
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credit and debit card use up 8% from a year ago. company shares are up 4.3%. now the question is its leadership beyond technology. technology stocks, they were mixed. investors are focused on the also rans. they have been under pressure for the last year because there is ache sight on the names priced for perfection. the shares wobbly last week and after the posting on revenues and earnings, new subscriptions came in $1 million less than expected, stocks are down big. if it hold, it will be down 18% from where it was a week ago. what happens when the top five
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tech names hit a bump in the road. investors aren't sure what to buy when big tech isn't work. i think there will be rotation into chips, stocks on cisco oversold on speculation. i think investors will look at industrials and consumer discretionary names. coming up, a slew of strong data pushing the economy even higher. keep it right here on "making money." 100% clear skin with taltz. up to 90% of those with moderate to severe psoriasis had a significant improvement of their psoriasis plaques. most people were still clearer after one year. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them.
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to understand your best plan of action. so why didn't we do this earlier? life line screening. the power of prevention. call now to learn more. charles: strong economic data continues to pour in. the retail sales numbers underscoring the fact that american consumers continue to act on renewed confidence.
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remember the number was better than expected if you consider the revision to may. 1.3%, it was up initially .8%. with me to discuss, paul deidrick. and kristen tate. this economy in my mind is absolutely remarkable. i looked at the empire state numbers. jb hunt, the trucking name. the stock exploded. but the numbers have been phenomenal. >> they have been. this economy is charging ahead on all cylinders. you have the federal reserve chairman come out, and thinks this is going to continue for the foreseeable future. earnings are up for s & p 500
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companies, 20% it will be this year. that's phenomenal in and of itself. i always feel that earnings drive the stock market. i think it only reason the stock market is flat is because of the fears, and it is a fear of what the possible effects would be. charles: now it's up 400%. a lot of people are saying this is made possible by the regulatory cuts and tax cuts. that's something you talk about all the time. >> that's a big part of it. as prosperity spreads from the tax cuts and a tighter labor market, american families have more money to spend. i went to walmart this weekend. the place was packed. you would think it was christmas. during obama's 8 years in office he never saw 3% growth.
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the model is tracking a 4.5% for the fourth square. other models are tracking rates at 5% 0er de 0 -- or over 5%. the trump economy continues confounding everyone. it's incredible. charles: the fed wants to step in just as americans are getting a raise. it seems to me that they want to be accommodative. can we have a goldilocks period for the rest of the year? >> i think part of the concern is that people are worried about inflation. i always try to tell investors if there is good inflation and bad inflation. bad inflation is when the government spends too much and
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has to print money and bonds. but good inflation is when there is more supply and demand. more jobs than there are workers. and people are getting higher wages. that money filters through the economy. pricing power gets better for companies. the companies are paying for this. so inflation that's that kind of inflation is really, really good. and i think powell understands that. he did say he would be very moderate. raises are going to come. but it's going to be very moderate. charles: i think something that's been missing for a long time is velocity of money. people get money, they spend it. the federal reserve tries to create this artificially. this possible far it, the cycle of prosperity. but i think it's here now.
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>> americans from all dem kraffic backgrounds are being boosted from this economy. this is a good time. and this economic progress did not happen by accident. trump and the republicans were hard at work on this for over a year. now they will reap the benefits of this. it's an exciting time. charles: thank you very much. paul, you are killing them. you are one of the few money managers crushing the markets for years on end. we'll be right back.
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charles: welcome back special programming note fox news chris wallace sat down with vladimir putin, exclusive, wide ranging interview a among topics chris thachallenged have vladimir put. here is a sneak peak.
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>> interference with domestic affairs of the united states do you really believe that someone acting from the russian territory could have influenced the united states and influenced the choice of millions of americans? >> i'm not asking if they influenced, i am asking whether they tried. charles: you can watch it on kennedy tonight right here on fox business. so, madison, vladimir putin saying do you really believe it is possible that russia or anyone else could have swayed our election. i think that central debate is not whether they tried to but they remember successful, did they help to determine the outcome, because of the investigation, was there organized collusion?
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do you think there is any evidence of that. >> no, i doabl don't believe ths evidence of that. mainstream media and left would like to us believe there was collusion. the investigation has not gone about where. with president trump meeting today with putin, this is important, easiest thing he could have done was refuse to engagement president trump made the right decision in meeting with him, stepping forward and attempting to take a political risk in pursuit of peace. charles: he took a political risk, some thought he missed an opportunity to smack putin around a bit with 12 disiements anindictments, not saying it was collusion but you tried to mess with our process? >> i think it was a embarrassing news conference, i get the idea,
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keep your friends close and enemies closer. in last couple of days we have seen aggressive behavior that isolates us from our european allies. -- russia, i think we have to look at example of winston churchill. you know allies had a good relationship with the soviet union, but he was never unclear about what they were morally. i think we're seeing here is moral confusion about that. charles: you are okay with the idea we should try to have a friendlier relationship with them, they don't have to be add adversary. >> we have seen home invade ukraine and push their goal in syria, and use cyber warfare against the united states and chemical attacks in britain, we seeing an increasingly aggressive and forc forceful ru.
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charles: madison, president trump was elected one of the outcries he would start a war, since we heard he is bullying north korea, now too soft on them, he tried to be diplomatic today. and it done done work -- didn't work, everyone is jumping on him. >> i think they are jumping the gun is what they are doing. this is too soon to tell whether it will be a successful outcome. this is very beginning as pruch said of talks he will have with russia. i don't consider them our friends, there is a chance we could move forward in a positive manner in future. that is what i think we should hope and pray for with these discussion between our president and putin. charles: it seemed that president trump likes russia to play a role with respect to hedging china, getting something done in north korea. >> i think that putin is after
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putin's interest, not american interests. the interests are in opposition a lot of time. >> all right. thank you, very much. here is lou dobbs. lou: good evening, our top story, president trump on his way home after a week-long european tour, including bilateral meetings, nato summit, summit with vladimir putin. and president trump returning to andrew air force baseles base wo hours from now. it is not often in modern america that we see the dems, conservatives,


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