Transcripts For FBC Making Money With Charles Payne 20240712

More republicans fall in primaries. Well get. White house advisor Peter Navarro. All that and so much more on making money. Charles like a grizzly, out like a teddy. The shortest bear market in history was a ferocious beast with everyone heading to the hills. Many predictions of a potential doom and Nuclear Winter for stocks that would last for years. Economic data was coming in better than expected there was extreme pessimism on wall street. Meanwhile Something Different was occurring on main street. Regular folks sensed an opportunity. It wasnt just millenial traders populating robinhood. We heard fidelity added 1. 2 million new accounts, lifting assets under management north of 3 trillion. Economic data continued to fool the experts the street took aim at the individual investors. This is where many experts made their fatal flaw, by loudly predicting individual investors would lose everything, as the rebound would not quote, end well, they boxed themselves out of this rebound. Now the rebound is a rally. For knows that get paid to make people money, rather than diss the inevitable doom of novice investors this is a moment of dread. They have to get in the mix and do their job. Of course it is a lot harder now to find bargains although 300 of the s p 500 names are still negative for the year. Many of them are doomed by the new coronavirus world. Others, well by longterm trends that were already in place. The bottom line is individual investors were never irrationally exexuberant this year. On the contrary they were buying despite deepseeded angst that suppose back to one market crash. Some of them, three market crasheses. As vaccines emerge, market buying broaden out. Individual stocks, there is ample chance for people to still make a lot of money. Particularly the fearmongers if they would stop talking, start investing. I want to bring phil plan blancato, katheryne rooney vera and kaltbaum capital management, gary kaltbaum. Shortest bear market in history, gary, straight out. Is it rational or irrational . Youre on fire, charles. What goes on . Charles i love this, man, i love it, i love it, i love it . I couldnt tell. Look lets start with the rational side. Target, gangbuster numbers, it deserves to be at new high ground. The irrational side, earnings are down 53 yearoveryear for the s p 500. And you have 15 trillion bucks by the European Central bank and jay powell sloshing around which is causing a bunch of all this. If earnings do not come back, there will be heck to pay. If they do come back well be in good shape. Let me be clear, Corporate America is doing real well. I am seeing good things in names like visa, mastercard, look like theyre heading to alltime highs again. Thats where im heading right now. Of course you see the great category killers continue to go crazy to the upside right here with no end in sight. Those are the names i own right now. Charles Kathryn Rooney vera, rational or irrational . Well i think it is rational, charles, if you consider that one of the biggest motors of this 45 increase is stimulus that is unlikely to slow down or stop or end anytime soon and that comes from both the federal government and the Federal Reserve. So when you have a Federal Reserve taking their Balance Sheet four 1 2 trillion to almost 8 trillion, on target to 12 trillion by the end of the year and four times the deficit so far this year, you know i think consumption is certainly gotten a boost from that. What i would like to see Consumer Confidence match multiples. Ascent in multiples are tremendous. Were 26 1 2 times earnings. Gary is right. Earnings have to match prices. Denominator have to make up for the numerators. Charles real quick, kathryn, i want to get phils shot. Initially you called for a vshaped rebound, didnt you . Yeah. Its a vshaped rebound. Weve seen that. What have been the drivers of that though . We definitely seen fiscal reaction, monetary action make Lehman Brothers look like childs play. Charles so it is overdone for right now. I want to bring in phil blancato. Break the tie, rational or irrational. I think theyre both on quasiirrational side but what do you think . I will say irrational, buddy. I just, i grew up on the fact we need data to support valuations. Right now i get it. Charles i feel like im playing the slot machine, phil, you pull the handle three lemons come up but continue. Sorry, buddy, im sorry. Talked many times how you want to participate in these markets but you want to be cautious about buying high quality names benefiting from the environment were in but you dont want to make a bet on energy here. You dont want to make a bet clearly only on financials. Valuations are better but were not out of this yet. We still have 14, 15 Million People looking for work. Were still struggling to break out of this. We need more from the medical front to get there. Charles i dont disagree with that at all but i believe the improvements in covid19 last week have been stealthy because the Mainstream Media wont report them. But i think the market senses that. Go to earnings. Gary brought it up. Monster beats. Major companies proxies for the economy. I think even though we thought lowes will do well, target would do well, no one had these optimistic indications. Let me go back to you, phil. Target, lowes, million miles ahead of wall street. Is it sort of Certain Industries or can this sort of hint at a broader economic rebound when all awe those other boxes are checked . There i agree with you. We have the potential for much broader economic rebound with work that the federal government and fed did. You saw 190 increase in earnings in sales at target. Consumer is much better shape than anticipated. For that reason, regeneron or these therapeutics work, we turn things back on, youre plus 10 for the year on s p 500. Potential to turn back on much more quickly if we get the therapeutic we so kest desperately need. Charles let me go back to gary for a second. Estimates 8 trillion on the sidelines, money markets, corporate cash, private equity cash. If wellruns dry from the Federal Reserve or federal government could that come in to serve as a spark for the market . First of all the well will not run dry but that is fuel, no doubt and just remember greed begets greed and the market is on the greed side right now. Charles, ive been calling for a meltup based on the technical things i follow but it is not everything because i can tell you, airlines, cruise lines, hotels, energy, financials are still not going anywhere. Names like wayfair and target now and lowes and home depot and some of these other Technology Names in software and cloud, theyre just insane. Of course the fang names which i dont know what is going on there, but people are piling on each other continue. Again i think nasdaq 13, 14,000 could be in the offing here just based on all the money flowing from ecb and jay powell. Well see where it goes. Charles so, kathryn, where do you, how do you position your portfolio understanding your skepticism but by the same token you knew would be a vshaped but in terms of making money . I dont want to sound negative, chars, we can come out of this strong, we already have, but were in a vshaped recover but what what has to happen, ch, federal and monetary stimuli needs to be retracted and pull off a little bit of on velocity growth because that leads us into uncharted waters. I tell my clients you have to be in the market because you have a price sensitive buyer that considers itself limitless in power that is the Federal Reserve. Our game to see what the fed is going to buy next. I talked about fallen angels on your program. Ford has done exceptionally well. I think there is more to come. When the market dips if it dips, conflagration with china or electoral tumult or what have you, second bought of the virus i think that is a buy, the reason is the fed is going to step in. So i think this is good if we can get through the hump to retract inordinate spending later which i doubt is going to happen. Charles phil, weve got a minute to go. I want to get your thoughts. Because what kathryn is talking about some of those potential outcomes or things that could happen you happen to also like the Health Care Sector as well . Yeah. The demographic change in the United States is daunting. So figure it this way, the leaders are going to be tech and health care. Health care specifically on the other side of this with 11,000 boomers retiring every day, there is the opportunity to buy health care. It is not terribly expensive in certain sectors. However, to echo what gary said i think there is massive opportunity in those underloved sectors. Pe ratio on russell 1000 growth is 40. It is 21 on value. Here is the opportunity. I do think were lemons right now but were on the other side of this, assuming we get you there the election and we get a therapeutic you got a chance right now to buy the airlines, buy hotels, buy retails, buy banks inexpensively because the market in 12 to 18 months is not going to look like this. Here is the opportunity, begin rotation back to value. Guys are always peaches to me. When i hit the slot machine with you guys it comes up peaches. I will say im in agreement with gary. I will paraphrase, heck yeah, all hell will break loose if the fed tries to take back a little bit of the accommodation. Well see, kathryn. Youre three of the best. Thank you all very much. Well talk to you real soon. 2 25 folks, white house advisor Peter Navarro will sound off on china using covid19 vaccine for geopolitical leverage. What is the status of the trade deal . Well find out. Later in the show President Trump is revved up for a boycott against goodyear tires. A top fed watcher gives us her take. Shes next. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles the Federal Reserve releasing minutes of the last policy meeting moments ago, with officials expressing concern about the job market saying were not why a recovery just yet. They think for miss fiscal aid is needed. Want to bring in former dallas fed advisor Danielle Dimartino booth. What is standing out initially from there, and some of the questions you may have had . I think the fed is trying to articulate they will be in the september meeting, the most important meeting of the year by far. The last one before the election. I think they are trying to say they will provide firmer forward guidance. Well keep rates longer until inflation hit as target that could be above 2 . In other words we might be printing more for longer than we otherwise would in prior cycles in order to overcompensate for some of the shock that the economy has taken. So i think that investor are going to be heartened up by that, what i think is a disappointment is, that they said theyre still examining yield curve control and whether or not they should cap rates and i think some investors were looking for more clarity on that front, saying, boy well get ycc come september 16th. That hasnt happened. What you want at this point, and listening to your prior three guests. You want a dovish fed. The fed is very dovish. They continue to be worried about consumers. We recouped 42 of the jobs we lost since march. The fed will make sure it is there for consumers, especially absent fiscal stimulus which is still needed. Charles yeah. Obviously i mean i think this fed, the powell fed has been reshaped to one that is really seriously focused on main street, well i dont understand their core, you know, dual objectives, at least historic objectives. But that being said, wall street wants to know how do you provide more accommodation. If you think of yield caps, then negative Interest Rates have to come back into the picture. Have they beening back as hard as they have been pushing on that . I think negative rates are still off the table. You have to have a change in fed leadership in order to see that come about. That is not coming until february of 2022. I dont think that is necessarily an option. But they believe in the power of explicit forward guidance. That is what theyre hanging their hat on. I think fed officials last met anticipating there would be a couple trillion dollars worth of flue stimulus measures that were legislated. Charles right. That they could monotize. That really hasnt happened yet. Charles im glad you brought that up because we dont have a lot of time left. Would powell take it upon himself, believe he said loud and clear he thinks washington should be doing more . This fed even more vocal than the fed when obama was in office. They were pretty upset with fiscal policy that they thought mitigated the efforts they were making. Would the fed do more in the absence of congress that just wont pull the trigger . I think the fed is having discussions behind closed doors how they can expand their ability to do more in the absence of fiscal stimulus. How and what shape that would take i think still remains undetermined but as you say, jay powell is, he is different than his predecessors and he is determined that the economy not falter even though a lot of his tools have really been limited to benefiting wall street as opposed to getting down to where actually Small Business owners need the money. So i think he is investigating ways to be creative. Charles right. And that just, you hear the money printing going on in the background. Charles i thought that is what i heard. Danielle, thank you very much. Always appreciate your expertise, particularly at a moment like this. Well see you again real soon. Meanwhile, folks if youre a millenial. Genzer or parent of anyone who wants to get rich well show you how to do it yourself. This september 2nd, 2 00 p. M. Eastern, im hosting a town hall, america invests together. Barstool sports founder dave portnoy. How you can invest, message fox business on facebook or instagram or email us at investedinyou foxbusiness. Com and send videos. I love those videos. It will be an amazing show. I want you to be part of it. We will answer as many questions as possible. Meanwhile, have you learned about these learning pods . They are sweeping the nation amid this pandemic. Will wealth inequality create more income inequality . White house advisor Peter Navarro, that china allegedly turning death diplomacy playbook for covid19 vaccine for political dominance. Where is the outrage . Peter will have some. Well be right back get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. To listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. But what if you could stdo better than that . K. I understand, lets get started like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Charles well, folks, looks like china is going back to the old death diplomacy playbook with a potential covid vaccine. Reports say president xi offered to put the philippines at the top of the list in the vaccine in return for dropping claims in the South China Sea. This is not the first overture to the pli plireeliresirere st yeasaeaidr eaidr was offered contstakcoe joint joi gas and nturentf he h h h h h ign t thaed r ined for f of o spsputdie. Spdispdis thishis marm ingininte hhioutesehite uring urpoin direc dtoirr, dir rrter var rro. Va this is a crazy c story. Tory youave wonder where w w i ihe wod o charlesrlhehe more we w w s things likeet, the m you you ve to wonder about the origins of the china virus to begin with and wonder about just how the Chinese Communist party keeps using this virus to push their strategic domination of the world, to punish the American People, to infect the Peter Navarro<\/a>. All that and so much more on making money. Charles like a grizzly, out like a teddy. The shortest bear market in history was a ferocious beast with everyone heading to the hills. Many predictions of a potential doom and Nuclear Winter<\/a> for stocks that would last for years. Economic data was coming in better than expected there was extreme pessimism on wall street. Meanwhile Something Different<\/a> was occurring on main street. Regular folks sensed an opportunity. It wasnt just millenial traders populating robinhood. We heard fidelity added 1. 2 million new accounts, lifting assets under management north of 3 trillion. Economic data continued to fool the experts the street took aim at the individual investors. This is where many experts made their fatal flaw, by loudly predicting individual investors would lose everything, as the rebound would not quote, end well, they boxed themselves out of this rebound. Now the rebound is a rally. For knows that get paid to make people money, rather than diss the inevitable doom of novice investors this is a moment of dread. They have to get in the mix and do their job. Of course it is a lot harder now to find bargains although 300 of the s p 500 names are still negative for the year. Many of them are doomed by the new coronavirus world. Others, well by longterm trends that were already in place. The bottom line is individual investors were never irrationally exexuberant this year. On the contrary they were buying despite deepseeded angst that suppose back to one market crash. Some of them, three market crasheses. As vaccines emerge, market buying broaden out. Individual stocks, there is ample chance for people to still make a lot of money. Particularly the fearmongers if they would stop talking, start investing. I want to bring phil plan blancato, katheryne rooney vera and kaltbaum capital management, gary kaltbaum. Shortest bear market in history, gary, straight out. Is it rational or irrational . Youre on fire, charles. What goes on . Charles i love this, man, i love it, i love it, i love it . I couldnt tell. Look lets start with the rational side. Target, gangbuster numbers, it deserves to be at new high ground. The irrational side, earnings are down 53 yearoveryear for the s p 500. And you have 15 trillion bucks by the European Central<\/a> bank and jay powell sloshing around which is causing a bunch of all this. If earnings do not come back, there will be heck to pay. If they do come back well be in good shape. Let me be clear, Corporate America<\/a> is doing real well. I am seeing good things in names like visa, mastercard, look like theyre heading to alltime highs again. Thats where im heading right now. Of course you see the great category killers continue to go crazy to the upside right here with no end in sight. Those are the names i own right now. Charles Kathryn Rooney<\/a> vera, rational or irrational . Well i think it is rational, charles, if you consider that one of the biggest motors of this 45 increase is stimulus that is unlikely to slow down or stop or end anytime soon and that comes from both the federal government and the Federal Reserve<\/a>. So when you have a Federal Reserve<\/a> taking their Balance Sheet<\/a> four 1 2 trillion to almost 8 trillion, on target to 12 trillion by the end of the year and four times the deficit so far this year, you know i think consumption is certainly gotten a boost from that. What i would like to see Consumer Confidence<\/a> match multiples. Ascent in multiples are tremendous. Were 26 1 2 times earnings. Gary is right. Earnings have to match prices. Denominator have to make up for the numerators. Charles real quick, kathryn, i want to get phils shot. Initially you called for a vshaped rebound, didnt you . Yeah. Its a vshaped rebound. Weve seen that. What have been the drivers of that though . We definitely seen fiscal reaction, monetary action make Lehman Brothers<\/a> look like childs play. Charles so it is overdone for right now. I want to bring in phil blancato. Break the tie, rational or irrational. I think theyre both on quasiirrational side but what do you think . I will say irrational, buddy. I just, i grew up on the fact we need data to support valuations. Right now i get it. Charles i feel like im playing the slot machine, phil, you pull the handle three lemons come up but continue. Sorry, buddy, im sorry. Talked many times how you want to participate in these markets but you want to be cautious about buying high quality names benefiting from the environment were in but you dont want to make a bet on energy here. You dont want to make a bet clearly only on financials. Valuations are better but were not out of this yet. We still have 14, 15 Million People<\/a> looking for work. Were still struggling to break out of this. We need more from the medical front to get there. Charles i dont disagree with that at all but i believe the improvements in covid19 last week have been stealthy because the Mainstream Media<\/a> wont report them. But i think the market senses that. Go to earnings. Gary brought it up. Monster beats. Major companies proxies for the economy. I think even though we thought lowes will do well, target would do well, no one had these optimistic indications. Let me go back to you, phil. Target, lowes, million miles ahead of wall street. Is it sort of Certain Industries<\/a> or can this sort of hint at a broader economic rebound when all awe those other boxes are checked . There i agree with you. We have the potential for much broader economic rebound with work that the federal government and fed did. You saw 190 increase in earnings in sales at target. Consumer is much better shape than anticipated. For that reason, regeneron or these therapeutics work, we turn things back on, youre plus 10 for the year on s p 500. Potential to turn back on much more quickly if we get the therapeutic we so kest desperately need. Charles let me go back to gary for a second. Estimates 8 trillion on the sidelines, money markets, corporate cash, private equity cash. If wellruns dry from the Federal Reserve<\/a> or federal government could that come in to serve as a spark for the market . First of all the well will not run dry but that is fuel, no doubt and just remember greed begets greed and the market is on the greed side right now. Charles, ive been calling for a meltup based on the technical things i follow but it is not everything because i can tell you, airlines, cruise lines, hotels, energy, financials are still not going anywhere. Names like wayfair and target now and lowes and home depot and some of these other Technology Names<\/a> in software and cloud, theyre just insane. Of course the fang names which i dont know what is going on there, but people are piling on each other continue. Again i think nasdaq 13, 14,000 could be in the offing here just based on all the money flowing from ecb and jay powell. Well see where it goes. Charles so, kathryn, where do you, how do you position your portfolio understanding your skepticism but by the same token you knew would be a vshaped but in terms of making money . I dont want to sound negative, chars, we can come out of this strong, we already have, but were in a vshaped recover but what what has to happen, ch, federal and monetary stimuli needs to be retracted and pull off a little bit of on velocity growth because that leads us into uncharted waters. I tell my clients you have to be in the market because you have a price sensitive buyer that considers itself limitless in power that is the Federal Reserve<\/a>. Our game to see what the fed is going to buy next. I talked about fallen angels on your program. Ford has done exceptionally well. I think there is more to come. When the market dips if it dips, conflagration with china or electoral tumult or what have you, second bought of the virus i think that is a buy, the reason is the fed is going to step in. So i think this is good if we can get through the hump to retract inordinate spending later which i doubt is going to happen. Charles phil, weve got a minute to go. I want to get your thoughts. Because what kathryn is talking about some of those potential outcomes or things that could happen you happen to also like the Health Care Sector<\/a> as well . Yeah. The demographic change in the United States<\/a> is daunting. So figure it this way, the leaders are going to be tech and health care. Health care specifically on the other side of this with 11,000 boomers retiring every day, there is the opportunity to buy health care. It is not terribly expensive in certain sectors. However, to echo what gary said i think there is massive opportunity in those underloved sectors. Pe ratio on russell 1000 growth is 40. It is 21 on value. Here is the opportunity. I do think were lemons right now but were on the other side of this, assuming we get you there the election and we get a therapeutic you got a chance right now to buy the airlines, buy hotels, buy retails, buy banks inexpensively because the market in 12 to 18 months is not going to look like this. Here is the opportunity, begin rotation back to value. Guys are always peaches to me. When i hit the slot machine with you guys it comes up peaches. I will say im in agreement with gary. I will paraphrase, heck yeah, all hell will break loose if the fed tries to take back a little bit of the accommodation. Well see, kathryn. Youre three of the best. Thank you all very much. Well talk to you real soon. 2 25 folks, white house advisor Peter Navarro<\/a> will sound off on china using covid19 vaccine for geopolitical leverage. What is the status of the trade deal . Well find out. Later in the show President Trump<\/a> is revved up for a boycott against goodyear tires. A top fed watcher gives us her take. Shes next. The ambiguity. The moment calls for more. And Northern Trust<\/a> delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online<\/a> in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance<\/a> so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles the Federal Reserve<\/a> releasing minutes of the last policy meeting moments ago, with officials expressing concern about the job market saying were not why a recovery just yet. They think for miss fiscal aid is needed. Want to bring in former dallas fed advisor Danielle Dimartino<\/a> booth. What is standing out initially from there, and some of the questions you may have had . I think the fed is trying to articulate they will be in the september meeting, the most important meeting of the year by far. The last one before the election. I think they are trying to say they will provide firmer forward guidance. Well keep rates longer until inflation hit as target that could be above 2 . In other words we might be printing more for longer than we otherwise would in prior cycles in order to overcompensate for some of the shock that the economy has taken. So i think that investor are going to be heartened up by that, what i think is a disappointment is, that they said theyre still examining yield curve control and whether or not they should cap rates and i think some investors were looking for more clarity on that front, saying, boy well get ycc come september 16th. That hasnt happened. What you want at this point, and listening to your prior three guests. You want a dovish fed. The fed is very dovish. They continue to be worried about consumers. We recouped 42 of the jobs we lost since march. The fed will make sure it is there for consumers, especially absent fiscal stimulus which is still needed. Charles yeah. Obviously i mean i think this fed, the powell fed has been reshaped to one that is really seriously focused on main street, well i dont understand their core, you know, dual objectives, at least historic objectives. But that being said, wall street wants to know how do you provide more accommodation. If you think of yield caps, then negative Interest Rates<\/a> have to come back into the picture. Have they beening back as hard as they have been pushing on that . I think negative rates are still off the table. You have to have a change in fed leadership in order to see that come about. That is not coming until february of 2022. I dont think that is necessarily an option. But they believe in the power of explicit forward guidance. That is what theyre hanging their hat on. I think fed officials last met anticipating there would be a couple trillion dollars worth of flue stimulus measures that were legislated. Charles right. That they could monotize. That really hasnt happened yet. Charles im glad you brought that up because we dont have a lot of time left. Would powell take it upon himself, believe he said loud and clear he thinks washington should be doing more . This fed even more vocal than the fed when obama was in office. They were pretty upset with fiscal policy that they thought mitigated the efforts they were making. Would the fed do more in the absence of congress that just wont pull the trigger . I think the fed is having discussions behind closed doors how they can expand their ability to do more in the absence of fiscal stimulus. How and what shape that would take i think still remains undetermined but as you say, jay powell is, he is different than his predecessors and he is determined that the economy not falter even though a lot of his tools have really been limited to benefiting wall street as opposed to getting down to where actually Small Business<\/a> owners need the money. So i think he is investigating ways to be creative. Charles right. And that just, you hear the money printing going on in the background. Charles i thought that is what i heard. Danielle, thank you very much. Always appreciate your expertise, particularly at a moment like this. Well see you again real soon. Meanwhile, folks if youre a millenial. Genzer or parent of anyone who wants to get rich well show you how to do it yourself. This september 2nd, 2 00 p. M. Eastern, im hosting a town hall, america invests together. Barstool sports founder dave portnoy. How you can invest, message fox business on facebook or instagram or email us at investedinyou foxbusiness. Com and send videos. I love those videos. It will be an amazing show. I want you to be part of it. We will answer as many questions as possible. Meanwhile, have you learned about these learning pods . They are sweeping the nation amid this pandemic. Will wealth inequality create more income inequality . White house advisor Peter Navarro<\/a>, that china allegedly turning death diplomacy playbook for covid19 vaccine for political dominance. Where is the outrage . Peter will have some. Well be right back get realtime insights in your customized view of the market. Its smarter Trading Technology<\/a> for smarter trading decisions. Fidelity. To listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies<\/a> advisor today. But what if you could stdo better than that . K. I understand, lets get started like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions<\/a> that work wherever you are. Call or go online today. Charles well, folks, looks like china is going back to the old death diplomacy playbook with a potential covid vaccine. Reports say president xi offered to put the philippines at the top of the list in the vaccine in return for dropping claims in the South China Sea<\/a>. This is not the first overture to the pli plireeliresirere st yeasaeaidr eaidr was offered contstakcoe joint joi gas and nturentf he h h h h h ign t thaed r ined for f of o spsputdie. Spdispdis thishis marm ingininte hhioutesehite uring urpoin direc dtoirr, dir rrter var rro. Va this is a crazy c story. Tory youave wonder where w w i ihe wod o charlesrlhehe more we w w s things likeet, the m you you ve to wonder about the origins of the china virus to begin with and wonder about just how the Chinese Communist<\/a> party keeps using this virus to push their strategic domination of the world, to punish the American People<\/a>, to infect the American People<\/a>. I think its high time that we ininvestigate what china is doing. This is outrageous. You joked on the tease, where is the outrage yeah i do. Lets think about this. It is like china spawns the virus in november. Hides in december. And january while they locked down their country. Then send the virus over here to seed and spread it and now 160,000 americans have been killed by this pandemic. They hoard the ppe. Then they sell it back at exorbitant prices. They try to steal our vaccine. And now, what theyre doing is using the lure, the carrot of a possible vaccine as diplomacy to force countries like the philippines, basically to surrender the South China Sea<\/a> to the Chinese Communist<\/a> party. Charles thats right. It is as if they planned this, it is as if they planned this all along. They have destablized their society. They destablized our political system. They are engaged in Economic Warfare<\/a> against us. This is something, charles, think about this. Last night, first two days of the democrat convention, running dogs of the Democratic Party<\/a> that didnt bark about china. Not a single word. No ccp words throughout this convention. What were seeing, charles, clearly is common cause between the Democratic Party<\/a>, the Chinese Communist<\/a> party on blaming donald j. Trump for a pandemic that the Chinese Communist<\/a> party infected her with. It is just amazing to me that you Charles Peter<\/a> are let me unpack this with you. When i did the tease about outrage i knew you would bring outrage but i sincerely want to know where is the worlds outrage about the idea they would use this . Also remind the audience, when we talk about the South China Sea<\/a>, this dispute, not only did the philippines win it, underneath that water maybe 2 or 300 Million Barrels<\/a> of oil. That is what the Chinese Communist<\/a> party wants. As far as democrats are concerned, biden is saying on one hand he would be just as tough as President Trump<\/a> but to your point, Governor Cuomo<\/a> calls it the european virus, not the china virus. Wow. Charles lets face it, it does help when the American Public<\/a> believes that President Trump<\/a>, everything that he did was a mistake with respect to covid19. So, you know, i dont disagree with you. I understand when you say that dog doesnt bark, referring to the one or more famous Sherlock Holmes<\/a> stories, youre not trying to diss anyone i did call them running dogs for the Chinese Communist<\/a> party. I do mean that. You know, one other thing about the convention if i may, charles, just quickly. Last night the blood of Bernie Sanders<\/a> bernie bros was all over the floor of that digital convention. Aoc in the brief microwave minute. I want to say to the bernie bros, come home to the party of economic nationalism. We will save your factories. We will save your jobs. I thought what was embarrassing last night when Bernie Sanders<\/a> kowtowing to the middle of his party which, and i mean this is crazy. They dont talk about china and bernie has basically given up on his whole agenda. Charles right. And the new yorker of all liberal publications had a good article on that today which i found ironic. We dont have a lot of time. America, china, meeting was postponed since the reports that china is upping oil purchases. I know that china upped other purchases. Where is phase one right now . The good news is, the Chinese Communist<\/a> party is buying a lot of product. They made historic purchases of corn, theyre buying corn, beef, perhaps some energy. That is the great news. The bad news for the American People<\/a> and our political system is that clearly china has thrown its lot in with joe biden and what theyre going to do is wait to see what the election has for them. They would love to have joe biden in office. You know what . Theyre not just waiting. I dont know if you heard of the wumao army, charles . It is millions of chinese both in the government and in the internet sphere that get paid basically come over to wage Information Warfare<\/a> against this country and against this president. They actually get paid to do that. So this is going to be a battle for the heart and soul of this country. It will be a battle as to whether china controls the country through joe biden or whether President Trump<\/a> is able to stand firm, tough on china and follow through in a second term on basically making sure that china doesnt commit those seven deadly sins i always talk so much about. Charles Peter Navarro<\/a>, always a great time talking with you. Enough outrage for you . Charles well pick this discussion up. Thats enough. Thats enough. I wasnt, i didnt expect anything less. Thank you a lot, peter. Is information given by covid19 federal government, state governments, even governments around the world too difficult for people to understand . One study says yes. They tried to use three letter words. Cheryl casone is live with more on that. Cheryl, a crazy study but it makes you think. Cheryl makes you think theyre not thinking. I hope peter listens to the network because the cdc is on this list. When i first started in journalism a long time ago, kiss, is one of the first lessons i learned, keep it simple, stupid. According to the jama network, cdc, institute of public health, the ama have not kept it simple. Many government websites when it comes to explaining all of us how to deal with covid or what the symptoms of covid are, how to give treatment. They gave a lot of interesting things about how the text is too complicated. Syllables per word, too many. The text itself, too complicated. Too many words per sentence. 18 different websites about covid had at least one difficult term. Their theory were supposed to be disseminating medical information, cdc says at 8 of this grade level. All the information is at 11th grade level. Maybe you dont want people to get sick, explain it to them a little simpler than youve been doing, everybody. Charles here is the thing, when i joined the air force and i was a Security Policeman<\/a> in the air force. So we took a lot of arms training, we used army manuals. They were written in such a simplistic way. I remember asking an instructor, they said they had done a survey, most people read at a certain level. Im not sure it was 8th grade. I think he said something even lower. It sounds kind of nuts on one side, maybe we need to get the reading levels higher. By the same token if youre trying to convey important critical lifesaving information know your audience. Cheryl exactly. Keep it simple, stupid. Deal with that, right . Well tell them. Charles i will keep that in mind. All right. Thank you. All right, folks, at the top of the list for back to school shop, if you can afford it. Were talking about learning pods. They are sweeping the nation, but at what cost to our society . President trump calling for a boycott of goodyear tires. Why the president is all revved up next. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Charles goodyear is receiving serious backlash over their zero tolerance policy and President Trump<\/a> is weighing in on the 122yearold company, tweeting, dont buy goodyear tires. They announced a ban on maga hat. Get better tires for far less. This is what the radical democrats do. Two can play the same game. We have to Start Playing<\/a> it now. Jackie deangelis with more on this fallout. Reporter good afternoon. Lets start with the latest. This is Kayleigh Mcenany<\/a> at the White House Press<\/a> briefing. Black lives matter insignia for instance, was not allowed was blue lives matter. Was not allowed was maga hats. What was target ad certain ideology. They have not denied that image was presented at one of their facilities. Reporter you have the trump tweet you just read. What happened here . Lets review. There is photo going around on social media a snapshot of the a slide the company supposedly presented in the diversity training showing what accept was and what is not acceptable. On the acceptable side there was black lives matter, lesbian, gay, bisexual transgender pride. On unaccepted, blue lives matter, all lives matter, mag gaat at tyre, political affiliated slogans or material. Why certain forms of expression are allowed but some arent . You could actually argue black lives matter does assert a political agenda. Political slogans and maga attire is not specifically acceptable. They tweeted back. Good year became focus about miss con seems about our company and. We endorsed equality and Law Enforcement<\/a> and will con to do so. In a more full version after statement, goodyear said this, first the visual in question was not created or distributed by goodyear corporate. Nor was it a part of a diversity training class. To be clear on our longstanding corporate policy, goodyear has zero tolerance for any forms of harrassment or discrimination. Theyre clear against harrassment or discrimination but theyre not speaking specifically to what was on the slide in those columns, charles. Theyre not saying basically it didnt come from corporate. Maybe at a branch office, it was, they went rogue or Something Like<\/a> that. Theyre not really getting to the heart of the matter here. But a lot of people, you know, outraged by this and certainly looking to the company to come back and clarify it as kayleigh said at the top of her briefing. Back to you. Charles something tells me they will have further clarification for sure. Jackie, thank you very much. On that, folks, i want to bring in iwf senior policy analyst inez step man for reaction. In this era of wokeness, inez, it is getting tougher and tougher but, you know if you have zero policy tolerance, you have zero tolerance or okay for people to voice a opinion, should be okay to voice any opinion seems to me. Yeah, you know im kind of two minds of this. It pains me to agree with the president on this one but i think i do. Unfortunately weve seen only one side of the political spectrum that is, you know, loud on twitter and loud and complaining about, you know, boycotting and so on of businesses says something that they dont agree with. Would i much rather return to you know, tolerantfree enterprise where people make mutually beneficial interactions with each other without caring what our politics are. I think that that is better for the country. But the left abandoned that. Companies need to know they can offend the right, can offend conserveatives. Charles important to take a stand, no matter who the company is, no matter where it occurs, or in your mind it will get out of control, perhaps it is already out of control . That is exactly what it is. It is out of control. We have abandoned political neutrality where we might not care, who makes our tires and who they vote for, what political slogans they think are appropriate. That is definitely the world i would rather live in but it is not the world we live in. We live in an era where woke capitalism is the thing, right . Fortune 500 companies are sending out books [inaudible] that is not the world we live in unfortunately although the world i would like to live in. Charles yeah. I love to go back to the day i didnt know where a ceo stood on any political issue. I want to talk to but the hottest back to School Purchase<\/a> of the year. That is learning pods. Instead of classrooms or remote learning, the pods are made up of a few students and taught by educator hired privately by the parents. It is easy to argue for shutting down schools when you have alternatives in your community and you can pool these resources. Here is the thing, what about middle income families . What about lower income families that dont have these options . I think the achievement gap will get worse. I find it hypocritical cities, liberal cities saying shut down the schools will have their kids taught by the same educators because they can pay them outofpocket . So i do agree learning pods will probably increase achievement gaps but so does Distance Learning<\/a>, right . So does Distance Learning<\/a> especially the way it is implemented in the spring where districts like chicago found about half of their teachers actually didnt even log on to the learning platform that was supposed to be teaching kids three times or more a week. You had absentee teachers in some struggling districts. It is not like learning pods are introducing an inequality thats new. But in order to address the inequality we shouldnt be shutting down innovative options parents are turning to because schools are closed. We should bolster the ability of all families to utilize options by having money follow the child. It is not a new concept. States like arizona and florida have education savings accounts that allow parents to take state dollars earmarked for their childrens education and then apply it to a learning pod by hiring tutors. It is not a new policy. It has been successful that is the way to address these equity issues. It is through choice. Charles i love that idea but i think some of the people worried their kids will go to charter schools, whatever, it is trying to protect the Public Schools<\/a> that are hurting the kids who need need education or who are hurting the most. Always enjoy our conversations. We have breaking news for you folks on the tiktok drama. Our very own liz claman says the potential deal is in the seventh inning and that microsoft will be the winner. All this on or before september 15th. I will get thoughts from ray wang later on in the show. Republicans getting airtime on the dnc. Are we seen changing guard of big gop upsets . You should have seen yesterday. Fox newss Deneen Borelli<\/a> will break it down for us next. So what are you waiting for . John stamos to knit you a scarf . All finished, jean. Enjoy thank you. I give. The stitch work is impeccable. Its just a double fleck pattern with a reverse garter stitch. No big deal. Is your hair this soft . Softer. Geico. Save an extra 15 when you switch by october 7th. But what if you could stdo better than that . K. Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions<\/a> that work wherever you are. Call or go online today. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance<\/a> so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles Longtime Republican Party<\/a> stalwarts awarded prominent speaking roles at the Democratic Convention<\/a> as they pretentiously oppose donald trump including former bush secretary of state colin powell. Joe biden will be a president we will all be proud to salute. With joe biden in the white house you will never doubt that he will stand with our friends and stand up to our adversaries, never the other way around. Charles so while these Party Stalwarts<\/a> act like they know better and never trump organizations are spending millions and millions of dollars, the American People<\/a>, particularly Republican Voters<\/a> continue to speak out. A rash of primary wins for trumplike candidates in florida last night. I want to bring in Fox News Contributor<\/a> Deneen Borelli<\/a>. Deneen, got to tell you something, on one hand with some of the older establishment type republicans pushing for President Biden<\/a> rather, wow, some amazing victories by a couple of young ladies who, you know, who have been, one has been on the show a lot. So it seems like the gop voter not going to go back to the nevertrumpers even if President Trump<\/a> is not reelected. Your thoughts . Yeah. Well, theyre sending the message, charles, that toters are tired of voting for the establishment career politicians and getting the same results and were seeing this going on across the country. Even over the last couple of years, charles, but when you look at how establishment politicians in the Democrat Party<\/a> and the republican party, they are losing ground. That is one of the reasons why we have President Trump<\/a> in the white house. He is a career businessman, not a career politician and he is certainly not part of the establishment. When you look at the Democrat Party<\/a> were looking at infighting because they have the establishment versus the far left radicals in the party. There is infighting that is going on and bill clinton last night said, oh, were united, were together. Alexandria ocasiocortez doesnt seem that way because she is not supporting joe biden. She nominated and agreed with Bernie Sanders<\/a> platform. So, it is interesting to watch them eat their own. Charles yeah. Of course she went on twitter to say how much she did like biden but we know there is a massive Major Division<\/a> within the party. It is somewhat ironic, listen, i happen to have huge respect for colin powell. The last few times i spoke with susan molnarry i enjoyed our conversation. Those are older republicans part of an establishment in my mind steered Republican Voters<\/a> wrong. They had them voting against their selfinterest. They are part of the people who sent their jobs to china. They are part of the people who let the country deteriorate. I am not sure it hurts President Trump<\/a> as it might help them to have the folks against him. Feels like the heartland is 100 behind President Trump<\/a> right now. Youre absolutely right. Folks behind President Trump<\/a> want law and order. They want job security, energy security. Look what the left is pushing, the total opposite. Youre looking at policies with this success under President Trump<\/a>s first term that is why there is so much enthusiasm and excitement behind President Trump<\/a>. You also have to look at black voters support too, charles. Rasmussen reports has likely black voters support for President Trump<\/a> with their weekly polling anywhere from 30 to 40 , their daily polling. Democrats are desperate. Theyre going to keep playing the race card but we have seen the results under President Trump<\/a> prior to the virus. And we can see the economy and jobs coming back now. Charles right. Ive always said the establishment is the same. It is interchangeable at the very top of both political parties. People whether black, hispanic, bluecollar workers in the midwest, i think theyre all coming to the same epiphany. Shout out to anna polina, laura loomer. You may have to throw your hat in the ring, i dont know. Tune into fox business for complete coverage of tonights dnc. Kamala harris will accept her nomination for vp. Hillary clinton makes her controversial return. It will be hosted by our very own neil cavuto. Meanwhile tech giant apple becoming the Second Company<\/a> ever to reach two trillion in valuation but the hottest tech company in the World Reports<\/a> after the bell. Find out the name, more importantly should you be long next. Get realtime insights in your customized view of the market. Its smarter Trading Technology<\/a> for smarter trading decisions. Fidelity. Ive been involved in. Communications in the media for 45 years. Ive been taking prevagen on a regular basis for at least eight years. For me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. And i enthusiastically recommend prevagen. It has helped me an awful lot. Prevagen. Healthier brain. Better life. Charles all right, folks. I want to focus on nvidia and the changing of technology leadership. The Earnings Report<\/a> for this company after the close. This company has lived up to the hype from a decade ago and then some. In fact, i would say its now the premium Semiconductor Company<\/a> in the world, surpassing intel along the way. The company has an amazing track record of beating the street. In fact, according to street insiders, nvidia has beaten wall street estimates every single quarter since 2010. Mindboggling stuff. Consequently, stock has enjoyed meteoric growth and some think its just the beginning. Joining me, ray wang. Ray, i just want to get your thoughts on nvidia because it is living up to the hype and then some. The stock has gone parabolic. Its a rocket ship. What do you make as they report after the close . Yeah, no, these guys are doing amazing. In the short term, they are winning on the Cloud Computing<\/a> data center wars. They are also winning on the gaming, the long term Autonomous Vehicles<\/a> and everyone is looking at them as kind of the industry leader. Youre right, people look at nvidia versus intel, looking at the shift thats going on in technology and they won on the gpu argument. Charles we had cisco laid an egg recently as part of the dow. It shouldnt be. We know other names. What do you make of it, these newer names, these exciting names that are sort of zooming past the old guard . You are definitely right. We are seeing this shift thats happening and because, you know, you are seeing newer tech replace older tech, those have actually made the next leap in transition. Those actually moving forward. We saw that with Traditional Software<\/a> companies versus cloud companies, we see it with the Chip Companies<\/a> that are traditional chip fabs versus nvidia. This shift is happening across the industry and is only being accelerated. Charles i dont know if im going too far here but a couple of potential amazons in the making, i think, are evolving into behemoths beyond their original business model. Looking at etsy and pinterest. Am i a little premature here . You are definitely not, etsy has a unique model especially given the craft market. Pinterest has done a great job taking pictures and moving it into a membership model where people transact around commerce. And of course theres the shopifys of the world which are basically roaring through, helping Small Business<\/a>es become ecommerce players in a digital world. Charles all right. Just 20 seconds. You like the idea of microsoft taking over tiktok . No, but its more interesting watching oracle take over tiktok. Charles we will see. I dont know. I have it on Great Authority<\/a> that microsoft is in the lead and perhaps its a done deal. I dont know. Liz claman, someone had amazing breaking news on that, an exclusive earlier today. Liz well, yeah. We have even got more on that and yeah, sorry to your guest but it does look like its microsoft and not oracle. Indeed, charles, thank you so much. Breaking news. As we head into whats been a rocking hour of trade, microsoft is actually now down after hitting a high after sources familiar with bytedance negotiations to sell its tiktok u. S. Assets reveals to countdown the up to the minute state of play in microsofts pursuit of social medias most talkedabout name. Weve got more breaking news thats coming right up on that story. From the race to buy tiktok to the race for a covid vaccine, as biotechs biggest names from novavax to pfizer to jnj hit the gas on their","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia601906.us.archive.org\/13\/items\/FBC_20200819_180000_Making_Money_With_Charles_Payne\/FBC_20200819_180000_Making_Money_With_Charles_Payne.thumbs\/FBC_20200819_180000_Making_Money_With_Charles_Payne_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}