Transcripts For FBC Making Money With Charles Payne 20240712

FBC Making Money With Charles Payne July 12, 2024

Along with facebook and twitter, new legislation removing protections from big tech. Marsha blackburn live in a few minutes. President trump is aimed to at a broad strategy to prevent veteran suicides. Well have reaction from retired marine corps gunnery sergeant, jesse jane duff. All this and more on making money. Charles covid19 cases are on the rise at least in 20 states, instead of focus on other 30 where it is not on the rise, the media taking opportunity to stoke fear. How bad is it. Vice president pence write negotiate wall street journal america is containing virus. I had a chance to meet with the Vice President on this situation and how we talk about muchneeded infrastructure programs. Take a listen. There was wall street journal editorial yesterday, you were pretty upset about the media sounding alarms over socalled second wave of the coronavirus. You think theyre off base here. What are they missing . Well, charles, good to be with you, thanks. I think what theyre miss something what the American People have accomplished over the course of this coronavirus pandemic. Despite the fact that some Networks Like to put maps up with lots of red states, the reality is, as of this morning there are only 11 counties in america that are seeing accelerating new cases and only about 2 of the counties in this country are seeing any significant increases in cases at all. The truth is that now that all 50 states and our territories are reopening were proving we can do that in a safe and responsible way. The areas where were seeing increases in cases, places like texas and florida the reality is that those states are also focusing on vulnerable populations, whether it be Nursing Homes or prisons or meatpacking plants and that combined with the massive increase in testing all across the country, i think it is creating the impression for some americans that were in a different place but the reality is because of the strong leadership of president donald trump, because the American People embraced those mitigation efforts, because of the Recovery Efforts that we secured from the congress and because states across the country are responsibly reopening, were getting there. Were getting there as a nation in every single day were one step closer to putting the coronavirus in the past. Charles there is no doubt about that and you talked about these red state maps and for me, it was even more frustrating last week when the market, the Dow Jones Industrial average was off 1800 points as the Financial Media was pounding the table on the uptick in coronavirus. Not only did i find it to be disingenuous but extraordinarily dangerous in these precarious times. Charles, youre exactly right. I saw again this morning states like wyoming and montana were colored red on another networks map n those states they literally saw increase of five or 15 cases a day and yet because they were evaluating them on percentage increase basis they put them on a map and they created an impression. Again i want to say that only about 2 of the counties in america are seeing any significant increase in cases at all. Charles right. And all across the country more than half of our states are either stable in their number of new cases or theyre actually seeing new cases declining despite the fact that literally were doing more than 500,000 tests a day, thanks to that Public Private partnership that President Trump forged with commercial laboratories, good work of governors around the country, weve done more than 23 million tests around america. That is contributing to some new numbers, even despite that, charles, even two months ago we were averaging 30,000 cases a day, a month ago, 25,000 new cases, now were averaging roughly 20,000 cases a day. But beyond that, hospitalizations are declining for coronavirus all around the country and most importantly, our fatalities are declining very precipitously around the country. That is a tribute to what the American People have done, to what our Incredible Health care workers have done. Frankly it is also, it is also a tribute to new therapeutics that are available, that we made available like remdesivir and even the breakthrough you heard about yesterday with the steroid treatment. Were making real progpress. Were saving lives. We slowed the spread and flattened the curve and the American People deserve to know what they have accomplished. I want to get to two other things while i have but finish this off. It is natural to expect as economies reopen around the country for there to be an uptick. The real question is hospitalizations. How prepared are we compared to this thing hit us in left field. Are we prepared for a slight uptick in hospitalizations . It is really one of the Great Stories that the American People can celebrate as we stand here in the middle of june. You know, when we went to the country in early april and at President Trumps direction we asked the American People to make real sacrifices in their lives what became 45 days to slow the spread. It was really about first saving lives but, also it was about insuring that our Health Care System and our hospitals would not be overwhelmed and the great news that they werent. That we did flatten the curve. We saved american lives and in all of that period of time we also stood up and unprecedented, literally wartime effort of producing health care supplies, masks and gloves and other personal protective equipment by the billions that have been distributed all across this country. Charles right. And maybe most meaningful of all, in a partnership with ford, with general motors, health care with other great companies, were well on our way to producing more than 110,000 ventilators in less than 100 days. And as i stand before you today, i think it is a national accomplishment that no american who has required a ventilator was ever denied a ventilator in the United States of america. And finally to your point, charles, even as we speak, even as were seeing hospitalizations declining and were seeing cases declining over the last two months despite a massive increase in testing, we are backfilling our Strategic National stockpile. We are continuing to procedures personal protective equipment for whatever the future holds, the American People can be confident, well make sure our Health Care Workers and their families have the supplies and equipment we need to meet whatever comes. Charles lets talk about the economic side of this recovery that goes hand in hand with the health side. A lot of debate now on what should be included or if this should be another stimulus package out there. Apparently the word is that the white house is looking in the something of the two trillion dollar range but there is also reports of an infrastructure package at a trillion dollars. Would those be together with one trillion infrastructure be part of the two trillion or would that be a separate entity . I think our expectation now, charles, infrastructure will be part of a separate piece of legislation. There is roughly a 400 billiondollar infrastructure bill with the president and our team have had conversations with capitol hill. The president s made it clear were in discussion with the congress about another phase of recovery, it is going to be focused on the American People, on making sure that families are able to get through this coronavirus pandemic. Were going to help small businesses. Were going to bring our economy through but, ill be honest with you one of the things the president s made very clear with leaders in congress we have to have progrowth policies in this next round. The president wants to see a payroll tax cut. That is going to put, that is going to put money in the pockets of working americans. Were going to make permanent the relief on the employer side, that will encourage investment and job creation and growth. Charles right, right. Were going to put Families First and the American People first. Make sure they have the support that they need. Were also going to also bring forward the kind of policies that will catalyze the growth, frankly, charles, you predicted that is happening all over the country. I was at sallys restaurant in forest city, iowa, yesterday. It was her first day open and the place was packed. People are excited to be back in this economy. You saw nearly three million jobs created in that last jobs report. Retail sales yesterday, 17. 7 . Look, all 50 states are responsibly reopening. And as you predicted early on, this economy is coming back. It is coming back strong. And if i could say one last thing, i really appreciate in your question that you said that, that a Strong Economy and health care are, you cant really separate those things. This isnt a choice between a growing economy and the health of the American People. What President Trump understood from early on. This is really a choice between health and health. We asked the American People to do hard things, to save american lives, to preserve the capacity of our Health Care System. We accomplished those things. We slowed the spread. We flattened the curve. We saved lives but there are real human costs to the kind of shutdown and lockdown that we went through and it is why, even before that 45 day was over, we published those guidelines to open up america again. And now all 50 states are proving that we can do it safely and responsibly. Even as we see, you know, outbreaks in particular counties around the country, well surge resources, cdc personnel. But were going to keep america moving forward and were going to open up america again. Charles well the administration has got to be applauded as well as the Federal Reserve. It is swiftness and decisiveness of your actions that got us where we are today. I really appreciate your time, Vice President pence. Thank you very much. Thank you, charles. Charles Vice President pence there and it feels better. We know there is going to be an uptick. We want to be prepared. Meantime all three major indices are trying to gain a little bit of traction. Throughout the hour im asking my market watchers what they are buying and what you should be looking at as well. Google being accused censorship. Tennessee senator Marsha Blackburn says that the tech giant is showing quote, its true colors. What does she plan to do about it . Tune in at 2 25 to find out. You say that customers make their own rules. Lets talk data. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. Charles well it is a rare calm day for the market which seams to be in a tugofwar right now. It has been trading in a narrow trading range the last couple days and with all the big Economic Data out for the month, the big question will be what is the catalyst to break this market out of that range one way or the other . Here to tell what investors should be doing at this moment, kaltbaum Capital Management director, fox business contributor, gary kaltbaum. Gary, i want to start off with the fact youre very upset, more than normal about the Federal Reserve all the gimmicks it is using. It has 11 lending facilities. Jay powell is on the hill saying he last got to do it. One day they will reverse all of it. Youre not buying it. No. He cant reverse it because the market will drop 3, 4,000 points. I big believer in free markets, charles. Simple as that. He keeps interfering. Leave no doubt what he did last week was because the markets dropped 2hundred 2700 points out of nowhere out of fed meeting we have more tools. This week he starts buying up individual bonds. Market loves when he prints money and when he buys stuff. Here we go again. The nasdaq is back to enfaith go again, charles. All the Great Technology names, internet names are on a run. Even today where the dow is kind of quiet, the nasdaq is very strong again. Charles and to your point it is not just those big names because i want to zero in on those later. I watched your tweet earlier. You talked about carver bank and radio one. What i read is the reason theyre up there is a big theme going on social media buy black. Because of all the money going into the black community, carver bank being a black bank, urban one being a radio station. Carver bank shares were up 153 , traded 100 times normal volume. Obviously that raises a yellow flag for a lot of people . I never like undue froth and speculation and leave no doubt that is what has been going on for a few weeks now. It is not just those names recently. You see what is going on with hertz, people buying the stock from 40 cents up to 6 even though the equity is worthless and almost able to get a secondary done. I think fcc is on that now. We never want to see that because it is usually an indicating late in the move when it is things like that. Charles right. Like you mentioned carver bank goes from 2, trades up to 23 earlier. Back already to 10. There is a lot of money to lose on these things if youre not careful so just be very careful out there. Charles now, the flipside of that is, today, an example would be needham. They put a target on amazon. Put a target 3200, but they said long term amazon could go to 5,000 a share. I want to ask, you do a lot of trading, are there stocks like amazon you should buy and hold forever, at least for now, put it on a shelf . Look, with an amazon, they have proven themselves through bear markets, bull markets, crashes, smashes, recessions and pandemics. The stock is near alltime highs. Yeah there are names, but babysit everything because you never know. There has been plenty of stocks we used to love and know like lucent and Nortel Networks that went by the wayside. You never know where the next competition is going to come from but right now leave no doesnt, amazons one of those names. Would i suggest facebook is another one that is standing the test right here and there is a bunch much others right now trading very well like a paypal and a square and thats where i put a lot of my money. Just these category killers that have proven themselves with growth in good and bad times. You know, so funny i was just looking at nokia, i dont know why. 4. At one point it was the most valuable stock in all of europe. If you held on to it, golly. Gary, thank you so much, appreciate it. Got it, buddy. Take care. Charles all right, see ya. Google being accused of censorship, yeah, believe it or not after zeroing in on zerohedge and the federalist yesterday. Coming up Fox News Contributor Deneen Borelli if this is more evidence that Silicon Valley is censoring conservative thought. She will be followed by senator Marsha Blackburn on how lawmakers are saying it is their turn to take action customizes your Car Insurance so you only pay for what you need . I should get a quote. Do it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. vo at whether on the track,that exhor the everyday drive. Ty, today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. Charles google facing backlash after reportedly removing zerohedge from its ad platform and threatening to demonetize the federal lift after comments in the comments section. Jackie deangelis has the story. Reporter google is playing defense after that nbc news report indicated the company was taking action against the federal it, against zerohedge for articles that google said pushed unsubstantiated claims about the black lives Matter Movement that was in the nbr article. The article said that the the mh they. Google is turning total corner on this. Theyre insisting that the federalist was never demonetized and that it was the comments section that was even in question, not the articles and that zerohedge had already been demonetized. Chris bedford, Senior Editor of the federalist on the evening edit last night. Listen. But right now i can say for certain that nbc news changed their story and google was very, very quick to shut it down. The question whether or not is google is actually on the side of truth

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