The globe while hedge fun mannedders make money off their misery. I will tell you how this place into the 2020 election. All this and more on making money. Charles President Trump looking to close some deals while he stands with World Leaders at u. N. This week. All the while it appears progress is being made on the china trade front with the chinese saying deputy level talks in washington were constructive. I want to bring in to discuss former state Department Senior advisor christian whiten. I know it is lower level stuff. We got the official word from the official China News Agency to be honest had been pretty aggressive recently with some of their reports so its a change of pace. It is. Some of the messaging has turned more positive but what you didnt seen last week, what you havent seen, any sort of signal of fundamental change china would have to make. You did see President Trump reassert last week insists on a complete and comprehensive deal. There was talk of a mini deal but how do you only have a deal we only steal half of your intellectual property . We only expart half the fentanyl to us. He reset the parameters of the debate. Coming out of unga, the General Assembly you may have more details on u. S. Japan agreement announced at g7. Charles i want to ask you about these things. Before we do, just one more thought on china. It feels to me wall street, main street would be okay if the volatility was taken out of the process. Whether or not a deal happens immediately, sanctions at of left field. The at this titfortat, sabre, that stuff goes away, good old negotiation everyone seems okay with that. I dont think the market priced in a deal. If it completely falls apart i would see it adjust down but frankly im more worried about middle east. The trajectory is set, and were willing i think market is able to live without a deal frankly but maybe not an escalation of the war. Charles President Trump had a huge rally with indias president modi. There is possibility trade deal. Modi a possible trade deal with japan. Now Boris Johnson reaching out for a possible trade deal next year. Even iceland getting in on the act. This is interesting because this administration wanted these sort of unilateral deals. It appears maybe theyre coming up with some of them . Right. The United States has a much better hand when it negotiates directly and what youre seeing the emergence of a new world. It is hard to see while the change is going on. Youre seeing a decline of europe. Delinkage with china. Well trade with china, it is very important but no longer will be a oneway street of manufacturing from here to there. And focusing on the countries that matter going forward. India, still in early days of a transition but with modi the first sort of real postsocialist Prime Minister they have. So it is terrific that our relations are improving. Charles obviously they like to take advantage of any sort of vacuum created with china. I do want to shift gears a little bit. President trump in fact praising Boris Johnson after the uk Prime Minister says he want as new nuclear deal with iran. Take a listen. All that money paid and wasted. You didnt have the right to inspect the appropriate sites. You were looking at sites never used to create nuclear. The sites they would use we werent allowed to inspect. What kind of a deal is that . I respect boris lot. Im not at all surprised he is the first one to come out to say that. Charles johnson joining a u. S. Led effort to bolster saudi arabia. What does it mean for rest of the world . Lets start with the middle east when it comes to iran. I would suspect it puts more pressure with the continental, european allies who seem more likely not to want to upset iran . It does. Those are our traditional allies, what can they do . What would they do . They were working against us on financial sanctions, convincing their companies to go around our sanctions. Thanks to ric grenell they decided they would rather do business with the United States than iran. Theresa may government was part of that clique in paris, but now with bojo, people said lets keep britain in the eu because it improves the eu it made everyone worse off. Britain going alone, having even access with the u. S. And europe will be much better. Charles christian, thanks very much appreciate it as usual. Thanks, charles. Charles with a list of potential trade deals out there could it help the market give as you boost we need to break out . I want to bring in Gibbs Wealth Management president , cio, erin gibbs. Listen, a deal with japan, india, uk would be next year. These are things the administration talked aabout trying to achieve. Seems they would alleviate any anxieties that people have, that america is pulling away from the Global Economic system . It is helpful but we know that india is not exactly the most meaningful trade partner. We already have a very strong relationship with japan. So i dont know if wall street is really going to see any changes in expectations or estimates because none of these are the real powerhouses like with china. Charles japan is the Third Largest economy in the world not having a Stronger Economic relationship would help . In general the u. S. And japan worked well together, very much and though theyre very large, theyre not broking. We know that they have been basically flat to even somewhat recessionary levels for the past two decades. So having, it is great to have a full partnership. We know they are not the growth area where you want like with china. Charles right. China is not the growth juggernaut it was either a deck cade ago. I do want to ask about the china situation. On friday President Trump says i want a complete deal. Not piecemeal. China is bolting, leaving in a huff. They will not visit farmers. Turns out there was some misreporting there. I know bore gores are set up a certain way, when do investors take a pause on this news particularly when it comes out of the Mainstream Media because more often than not there is more to the story . On friday, most of wall street weve been hovering at those levels. We havent seen huge market moves were talking about, one or 2 . There might be some intraday theyre trading off headlines but youre not seeing huge volume and really big moves. Just certain sectors have been hit. So i think, as long as we dont see major announcements, i think today will be tough with the negative news coming out of germany. Were talking about 7 year lows on their manufacturing services. Those are concerning headlines. Charles right. We already knew europe was in bad shape. Charles we opened lower. Were moving higher right now. I want to ask but the horn breaking off a special uncorn, wework, before they even go public. Internal pressures mounting to out of their ceo adam newman before the ipo which has been delayed, i want to know, not only could this spell doom for their efforts to go public what does it say about the ipo market . 2019 was supposed to be at greatest year ever for ipos, would raise a record amount of company and Real Companies would take off and market would take off as well . Companies making money is clearly not the case for a lot of them. A lot of investors basically tapped the private equity markets long enough theyre being forced to go public because they need the cash, right . You dont go public because out of the goodness of your heart. Youre going public because you want investors money. Charles are you concerned about that . Wall street the whole thing if you go ipo, and youre up 50 first day you left money on the table but are you concerned this whole notion of sucking every nickel out of your customers, name Brand Recognition can hurt because these are duds. These ipos have been duds and essentially their customers use the product, i will buy the ipo, theyre losing money, are you concerned at all about that . Weve seen this for decades. Charles not like this though this, is something new. This is like to your point, they raise money for 10 years. It is the same names. Get in on the ground floor, look at the first round, same people, same entities, theyre making billions of dollars, then they tell the public okay, we got trillion dollar valuation you want a piece of the action . Certainly it is unusual that these companies are going to market so late. Generally they go public much earlier because private equity wants them to go public much earlier with these big valuation. When you look at overall records of what ipos do 2019 is not that much different from other decades. Charles really. 80 of the companies are lower. Charles i have to wrap. Youre not touching any of these. Absolutely not. Charles peloton youre look from afar. And wework i would not touch with a 10foot pole. Charles on fox business, apple saying it will make new mac pro deck Top Computers in texas. U. S. Trade regulators approving 10 out of 15 requests for the trade exemptions that were requested by apple. While the rest of the u. N. Is focused on Climate Change at this weeks summit President Trump is looking to highlight religious freedom. Will u. S. Corporations take notice as they look to expand their Conscious Capitalism message . President trump using the u. N. Arrival to blast impeachment talks over his phone call with the ukraine president saying he is not taking it seriously. Seems the market is not either. Will all of this talk hurt democrats in the end . My Political Panel debates that later in the hour. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for Auto Insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. America stands with believers in every country who ask for the freedom to live according to the faith that is within their own hearts. As president , protecting religious freedom is one of my highest priorities and always has been. Charles President Trump emphasizing the importance of religious freedom with the whole world watching at the u. N. Today. Critics blast him for missing a Climate Change meeting which he didnt show to deliver a address. We have a cnn cofounder lily. Charles you were at the United Nations you came from the event. I was there. The president was there. Vice president , the secretarygeneral as well. Ivanka is sitting in the audience. World leaders, heads of state and religious leaders and Corporate Leaders in the room. Charles i think a great mix. The Corporate Leaders need to hear this message particularly in this environment but what was the main focus off the message . Clearly first time we talked about religious freedom as a fundamental human right. Were knot just talking about the United States but everywhere around the world First Time Ever a sitting president does this bringing a message to the world supported by the secretarygeneral. This is not about politics. It is about inclusion. About protecting humanity. What better way to show up and bring your full self to work, to play, your faith is a big part of that for sure. Charles its a big part of that and something i dont ever associated with the United Nations or big business to be quite honest with you. That is why this is so historic, charles. I was thinking about our audience being a business audience. Corporations know diversity delivers up to 33 better revenues. But in the inclusion programs we have in corporations we need to think of peoples full self and who they are and how they show up. And your faith is part of that. I think it is exin order nary were talking about this through a new lens. Charles President Trump is trying to shake off abuses for decades. Big business pushes back on the president. Im worried, Business Roundtable if you have a different mission or the koch network or any of these large entities, you know, why dont they ever seem to care about a million muslims in china being persecuted over their religion . At this time bettance being persecuted over their religion . How can they overlook that while they ban Plastic Straws . Exactly. Its a double standard. If we want to Save Humanity it starts by saving ourself from each other. How we are inclusive in places to work this was not about the christians or Jewish Community or islam, but everybody under the same roof. We need to band together to protect the most fundamental life working out convictions in in business and everywhere. Charles this was great launching. Obviously the world watching. President himself delivering the message. Where do you think it goes from here . The secretarygeneral explained two action steps at the world stage level of the u. N. , theres a strategy against any hate, any hate speech, any hateful activities around the world which weve seen now even, shootings and all that. And that they are starting this coalition that is inviting the public and private sector to come together to make this a priority so we can support. Charles im getting a wrap. Your job is to educate corporations on a lot of things. Correct. Charles do you also include religion in that message as well . Well i am going to have a different discussion now as we talk about cultural intelligence in corporate america, the ability to bring your full cultural competence we need to acknowledge what makes people. Many times it is their faith and convictions that make them their best self. We have to think about it, it tends to get separated. But i think it can be good for profits. Charles i think so too. Lily, it has been too long. Thank you. Charles new York Federal Reserve president defending that banks move to pump cash daily into our markets but is the fed just whistling past the grave ward . Oh, wow. You two are going to have such a great trip. Yeah, have fun thanks to you, we will. Aw, stop. This is why voya helps reach todays goals. All while helping you to and through retirement. Um, you guys are just going for a week, right . Yeah thats right. Can you help with these . Oh. Um, were more of the plan, invest and protect kind of help. Sorry, little paws, so. But have fun send a postcard voya. Helping you to and through retirement. Charles the new York Federal Reserve president is defending the actions of injecting cash in the repo market. John williams calling the action successful easing the markets that the officials anticipated the liquidity crunch. Last week as you remember the new york fed started to inject billions of dollars to address a shortage in cash to help banks finance shortterm lending and funding. Will the continued operations which by the way are scheduled through midoctober actually help . Many are wondering was the fed too late to address this. Stifle, cio, Michael Okeefe is with us. 280 billion last week. 175 million a day. 14day repo programs. New york fed saying hey we had it under control of the whole time. Reminds me peewee herman falling off the bike saying i meant to do that. They came to the rescue but were they caught flat food. I dont think they were caught flatfooted. Theyre measuring things, figuring out what to do. This is making up for a little bit of lack of capacity as a result of the qe. Balance sheet being reduced a little bit. They have it very much under control. And you know, its a daily amount every day and 14day one resets every 14 days. I think were okay. Charles okay, but many are saying it does hurt a fed that does have a credibility issue. To what degree i guess you can debate that. It felt like it was something out of left field. It was an emergency and more importantly how we got here. Quantitative tightening, taking money out of the system. Paying banks not to lend money. You know, are these wise decisions . Have these been wise decisions by the fed. Could there be serious economic ramifications . I dont think there are serious economic ramifications yet at all. The way i look at it, theyre going down very methodically. Look over time, they want to be rebuild their tool kit. One of their tool kits is the balance sheet. Being able to methodically reduce it, get it down lower, hey, when which get to recession maybe they charles michael, there was a time, if we had this conversation in 2007 i would say great, i get it. After they printed 4 trillion out of thin air what is the difference between 5 trillion, 6 trillion, who knows where they can go with this it feels like unlimited because it looks like that around the world. The idea