Is that the way to play this thing or are we getting to the point that it is getting over done . I am not a buyer yet, recovering some shorts if that is what you do, i get some recent support levels. The problem is where stocks are a big air pocket down to levels of 2018 in the s p futures, below 2000, that has me concerned. Im not pressing shorts here. The fear is over done and for me that will shift was one thing that has me worried is big moves in the oil and the yen. When big moves happened they cluster together. Charles why is a strong yen, one of the big correlations, why did that hurt the market so much . Bigger reason is psychological, it shows Monetary Policy lost its efficacy, at the end of january, drastically eased, the yen instead of going down went up in their face confused investors, and a lot of credibility issues. Charles the script after yesterdays fomc meeting down 200 points. On the other side of the equation, gold going very well, oil has done that quickly. Six days in a row, it is about breakfast and the fed. It did not inspire confidence to the Global Economy and other Central Bank Actions around the globe are not either. The bottom line is this is definitely raising concerns that it will push the globe into recession at least in europe. It will be a mild recession, might not be a big deal. I remember we were talking about greece, wasnt going to be a big deal even if it is not a Global Economy. If they vote to leave it will not impact the economy. We voted on july 4th a year ago, that is when the Global Economy started to unwind. After that will europe went into recession. You have big problems in china. It looks like this will be a yearly event. If they leave, if you look at hard numbers it shouldnt be a big deal but it is a big deal. We know who is next to leave. It is a big market issue. Charles i am thinking it is starting to remind me of y2k. I am feeling the hype is outstripping, looking at trade data for the uk. The most recent was april. If the pound gets hit, the flipside is if there was some sort of protest, they wont stop selling british citizens goods. Weather is so much fear about this. Almost like they are looking for an excuse, growth is not good, inflation not good already. If this vote goes through, before the terrible story about jim cox this morning, in the polls, if push comes to shove, if they choose to leave not like a wall will pop out of the English Channel and the loch ness monster will emerge to defend the islands. It is not like that. The house of commons will do anything they can to obstruct this. Second thing, if it does stifle growth europe into technical recession, talk of other countries leaving. What will uncle a merkel do about that . What will Francois Hollande do . What will mario draghi do . In a glimmer collapse case it may be significant, we may see fiscal stimulus europe sorely needs to get out of this. That could be the end result of this turning into a good thing. Charles she is the one who can come to the rescue. On the commodity side gold looking really good. Some other commodities. How should someone i know a lot of people want to get into gold and put their toes in the water if you will, 1300 more psychological than a technical resistance point but that is a number some people are looking for. They dont talk about it, gold is one of the best performing Asset Classes this year, so beaten up in the beginning of the year because of deflation and now we were up and not like the fears went away. They were intensifying a little bit, especially what is going on with europe in global central banks. I agree with your the guest exactly. What is going to happen, the only tool they have, they are going to flood this market with more money. That is the only defense against this vote and ultimately when they do that it will be another bullish factor for gold. I believe that. I still think this is a risk. It wont be the end of the world but enough to slow down a lot of markets and change the way markets are going. Before thank you both very much, appreciate it. Just now crossing white house spokesperson saying president obama to meet with saudi deputy crown prince tomorrow morning at the white house so we will keep on that. Back to the market, recession fears are starting to cause fears for Hillary Clinton ahead of the november election and donald trump ready to strike on this Obama Clinton economy, the us hispanic president and ceo. I am not sure where you stand politically but it is difficult for the administration to argue on the economy as a reason to keep a democrat in the white house. I think what we are seeing right now in terms of hillarys comments on the economy is a political candidate doing what is expected. She is attacking and getting the stage ready on a variety of fronts, one of which is an abysmal perforormance on behalff her rival. She perceives that to be a weakness of Donald Trumps so she is setting the stage for that conversation to begin to happen. Charles we are talking about an economy that has been growing at 3 in any given year during president obamas time in the white house, the most recent month saw 25,000 net private sector job creation. A lot of people working parttime, wages are flat, stagnant or flaccid. You wonder if she is going to try to run in the economy as a successful selfmade billionaire how does she argue that resume versus his . I got to tell you what i am seeing right now is hillary continuing to look at the weaknesses on Donald Trumps record. What i can tell you in terms of donald trump and his record around economics and business is if he becomes president , i dont think he will but if he did there will be a couple things he couldnt do. He cant gain the system and cant file for bankruptcy as president of the United States. Charles let me ask specifically to hispanic businesses they seem to be doing better than the overall economy. Seem to be more hispanic entrepreneurship, certainly i think whatever for whatever reason the hispanic population has fared better than other sentiments in this economy. Is that true or is that something i am not reading right . Absolutely true. Glad you brought that up. Despite economic challenges that continue in a weakened economy, the United StatesHispanic Chamber of commerce as we stand right now represents 4. 1 million hispanic owned firms that electively contribute 661 billion to the american economy. Hispanics are starting new ventures, new companies are rate of 31 when compared to the general market. As we stand right now, the tip of the proverbial spear in Economic Growth is the hispanic entrepreneurial community. Charles i had tom donahue on yesterday and we got into it a little bit. Tatake a listen to one portion the conversation. We have to stop trying to gerrymander the system and let the private sector work. More people will go to work, more people will create new inventions and new companies and the economy would grow and the bottom line if we can drive Economic Growth out of this new normal of 11 2 or 2 , we wont get these folks back to work. Charles he used the term gerrymander the system. Here is what we have with the chamber of commerce with respect to the american public. By the way it is being echoed in the uk as well. This globalist agenda. A lot of people feeling it has backfired, it doesnt work anymore, it hurts americans. They are having a tough time reconciling entities like the chamber of commerce who they feelel are more concerned with corporate bottom l lines even i it means jobs overseas and not here at home. I have to say that i agree with tom on this one. We need to stay focused on ensuring the economy is vibrant, healthy and continues to grow. We need to collaborate, the chamber of commerce stands ready to support any candidate or anybody across the political spectrum that sees the importance of american Small Business, Small Business creates jobs and we are proud of the work we do at the acc. I agree with tom donahue, we need to stay focused on ensuring the economy and jobs are front and center. Charles appreciate it. Charles lawsuit related to the paris terror attack, the family of an american killed said google, facebook and twitter allow the site to be used as recruiting tools for terrorists and profited from advertisements on islamic propaganda and john brennan says twitter has prevented the cia from investing certain twitter data while allowing russians to have it. Is a disappointing to you an American Comedy would sell its product to russia . Propaganda arm of the government of russia not cooperate with United StatesIntelligence Community . Im disappointed there is not more active cooperation consistent with Legal Authority that would be available in the us private sector. Charles social Media Companies that condemned the attacks and there are policy in place to deal with them. More on this particularly the legal fallout. In the uk, stocks down in the sixth straight day, we will focus on markets when we come back. Imagine this, a business giving its competitors all of its plans to take them down. That is what just happened to the dnc. More details next. This just got interesting. So why pause to take a pill . And why stop to find a bathroom . Cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. 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She is known for her work in libya and champion for the Syrian People and you think that whole debate as well . It will dominate the news as it should, i have been in the business for 50 years, no one has taken a punch at me, swing at me. Some have wanted to. That is the thing about democracy. You can speak your mind, say what you want, britain is the harder democracy and Something Like this is tragic. Before we will have more details as they come in on this hack. We dont do the fisticuffs but there is a lot behind the scenes, skulduggery. The truth is Opposition Research is a real artform today. When i started this business 50 years ago you save your client give me 5000, i want to hire a private detective to investigate by phone but i want 5000 to investigate yourself too. A good campaign, i am not arguing what trump has done but they should know everything about themselves already. Someone last year pulling together not just what the opposition was doing but what was vulnerable and i assume there is nothing they dont know about already. If they dont know about it they failed miserably as a campaign. Every campaign against the pattern Opposition Research, a lot of stuff on trump over the years some of which is harmful, some is irrelevant. Charles people say it is not much ado about nothing. It is not enough to knock anybody out. It is a question of how you use it, do you make a case he was a dishonest this is nan . The problem with someone like trump or hillary is so much stuff they can tell the story properly and you can dilute it, it is like mrs. Clinton, the Clinton Foundation is Fertile Ground more than benghazi which is a complicated story and may have been neglect on her part to do the thing but the Clinton Foundation was a family run business. Charles doesnt take a political expert to smell quid pro quo. 25 million from the saudis and other countries they want something. Charles she is determined that is going to be focused on Donald Trumps temper. If i was sitting where she was that might be good but who knows about donald trump . He is unique, everybody including myself predicted he wouldnt do well and he has done very well. Stuart he has you in his corner now. Back to breaking news, British Labor member joe cox, a shooting and stabbing earlier today. More after this. Charles washington, speaker ryan and House Republicans calling for new Government Spending limits. Lauren simonetti on the fight between congress and the white house on spending authority. Part of the republican agenda deals with upholding the constitution, taking power away from the executive office and how to limit the executive overreach in president obamas office, the regulatory power, how to take that back a little bit and ways to limit spending. Take a listen. The problem is not the presidency. Under both parties keeps breaking the rules of it clearly does. Our problem is congress under both parties keeps forfeiting the game. Yielding the executive branch. Giving the president a blank check. That blank check is the problem. If you look at the National Debt it is 19 trillion and growing fast. Lets break that down, 58,000 for you, 58 for my daughter, tremendous, the federal government is a reason for that spending, entitlement, medicare, medicaid, social security, we need to do something about that and take the blank check away from the executive office. Charles the gop candidate, not sure i want to president ial candidate, paul ryan talking about taking away my power. You might want to take away the power of donald trump. Charles Congress Gave away a lot. They were feckless and never stood up to president obama but i am not sure now is the time to give it up. I want to ask about the philadelphia story because there are a lot of implications, the first major American City to pass soda tax and sugary beverages. How much is it . 1. 5 cents for every ounce of soda, whether it is diet coke or regular coke or starbucks that you buy in the store, you buy a two leader soda, that will cost you one dollar more, 12 pack of soda, 2. 16 more. The price is going up but the democratic mayor in that city is getting this to go through because he tied it to raising money for education, preschool, the parks. Charles they always do that. They took in 1 billion bucks, maybe 90 million would go to education and parks and where the rest of it goes we never know. This is mostly for education but what is remarkable here is they tried in two other instances in philadelphia to get this to go through. This would be the third time. You have cocacola, pepsi, they will respond to this. Before who else will respond, poor people, regressive tax. Lauren simonetti, thank you very much. President obama expected to arrive in orlando to meet with victims of the orlando terror attack. We will take you to orlando with the latest. Social Media Companies urged to do more in the fight against terror. More on the new legal troubles for them when we come back. When they actually did start saving. This gap between when we should start saving and when we actually do is one of the reasons why too many of us arent prepared for retirement. Just start as early as you can. Its going to pay off in the future. If we all start saving a little more today, well all be better prepared tomorrow. Prudential. Bring your challenges. Who dont have access thto basic banking,on people but that is changing. At temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet. Everywhere where theres a phone, you have a bank. 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