tv Making Money With Charles Payne FOX Business July 11, 2015 6:00pm-7:01pm EDT
for joining us, "making money," starts now. charles: breaking news, pope francis launches a sharp attack against capitalism, thus far while visiting bollivia -- bolivia his visit to u.s. calling the unfettered pursuit of the money, the dung of the devil. >> critics say that pope is overlooking the rise of hundreds of millions of people from poverty in the world through free market capitalism, and suggestion that pope pope francis focus on church matters
instead. >> he heard you were here. >> i love geraldo. charles: i tell you who is not afraid, pope francis. we understand that in the world young people are dissatisfied with capitalism, he is going to roaring crowds now bolivia's low hanging fruit, but his message is echoing in the world, what do you make of it. >> look, who doesn't want a better life that is the message of capitalism. charles: why would the pope say it not. >> he is a socialist, he comes from that framework, i agree, he should focus on matters of faith, i believe in god, i am not a catholic i like him. these are things that are pliet political, we goes to a nation where communism these days all
it can promise you is maybe bess poverty. your -- >> why is it popular, capitalism beats socialism a long time ago, why are we remeeting fighting this fight. >> did you see cover of "time" magazine today. elizabeth warren, bernie sanders gathering biggest crowd. greece is sinking because of socialism but the rest of europe thinks it is a great idea. >> as governments get bigger, they want government to stay big, they know socialism is a harm economically, they have to prepare people to think this is the new normal, it is acceptable and the way to do it you have liberal media in the world focused on this, it is about communication, and as governments get larger, and very small number of people run the governments they have an interest in people believing that this is as good as it gets
they need government for their lives to be good. charles: i think we're on a cusp of a major battle, we already won this battle, between socialism and capitalism started at first of the beginning, soon at industrial revolution hit there was a battle which has been going on and on, we won it in 1950 but now we're fight together again. i'm not sure we're winning. >> in 1989 the obvious example with fall of soviet union, strength of united states, it is clear how that is the difference with people being unlimited in the ability of what it is they want to do. but when you have a world bogged down with big government, with terrorism with tire -- tyrants who want more power, capitalism and democracy does not help tyrants socialism mostly keeps money in hands of power of individual tyrants. charles: geraldo rivera thank
you for joining us. >> hello. charles: the pope -- >> i love the pope. charles: he is socking it to capitalism, my wife is catholic also. but, for poorest people in the world, pope suggestions this worst system? >> well, a great philosophical question. i think you see pope francis is sincere man, i think he is the best pope we've had in decades. the first thing he has to do, in your businessman, is he has a huge multinational business that has been in disarray. it has been imperilled by disfunction and misconducting. he has to clean it up and reinspire people. this is first pope in 1500 years to not come from europe.
and he has to compete against the evangelical churches in latin america now. it like 50/50 now. charles: you say -- by the way this is to your point, sort of a gam bet on his part do you offense older catholics who have money to contribute to you while trying to reach for low hanging fruit of poor people, south america, africa, saying have you been victimized and i am here to help. >> he is the serogate of the man, the son of god who is so compassionate gave his life so suffering and poor -- wait he has got to -- he is being christ-like in his compassion. and i think that aside from fact that this is wonderful and heart warming, it would also motivate a lot of people from highest
rollers to most -- 92 this. charles: this is where i disagree, this is dangerous. if you tell them to avoided that or demonize it, i think you send them down the wrong road. >> when we've seen how people lives are destroyed within those systems, there is a reasons that soviet union fell. you look at condition of cuba, oregon and greece and oregon, this is why, i think this is when people say stay with the spiritual message, there is a spiritual hole in the world, this is politics this is different. if you motivate them spiritualy that in the same envelope. >> my dad was a lay deacon in the catholic church, i have
watched the catholic church decline. charles: i agree on pope francis on dealing with the issues that have haunted the catholic church, that has nothing to do with capitalism, i want to separate that from what is is -- happening, i think his message to the world is a dangerous message economically. new colonialism takes on government faces. it appears like corporations, loan agency and trade treaties that aimed at greece bailout, greece last night they succumbed to most of the demands of
competitors, but, here we are saying to people who spent a lot of money they borrowed a lot of money, they live an amazing last irlife now they are trying to portray their corrode tor as bad --er portray their creditor as d guys. >> you see, greece has indulged itself, consumed you know the riches of the world, boroughs money, they borrowed, and spent they spent and they spent they are now faced with the disintegration of the fiscal system. charles: pope saying that imf and other creditors are being too mean to them forcing austerity. first of all contract law might matter. is there such a thing as tough love. if you give and they squander
what it will change? >> i just am a little bit wobbley about comparing pope francis to someone who really needs to generate profit in the bottom line, he is not precisely a parallel to a secular corporate tycoon leader. he has to feed and nurture the soul of people, inspire hope. charles: but can he did that without attacking capitalism. >> he must, i like him a lot but this is made me concerned. when you talk about a message about what can people relate to, his remarks about austerity prove he is a little disconnected with nature of what is occurring, more political and maybe meant to stir things up for some reason, this comes down to traves to his own -- perhaps to his own political personal point of view.
charles: you take last two popes one a conservative german, grew up in european capitalist, and one from argentina, they their woes. so we understand the background but geraldo, in the world this is picking up, right now the greek parliament is debating, making a stig on whether or not to establishnese, there is still a lot of resentment, you can see right there, let me ask you, why do you think there are so many people manti world -- many people in the world who are moving away from capitollism. >> ien to necessarily buy the premise, comparing benedict and frances, he was old school, it was about comfort and silk
robes, and you know the trappings of wealth, it was privilege, they had become so divorces from the essential mission of catholic church, first thing pope francis had to day was say wait, there is a role for this instution worldwide that has to do with comforting the afflicted. now to attack capitalism, to attack gree is not attacking capitalism. charles: your greed may not be my greed, someone may say geraldo makes too much money. >> you know, the capitalism -- i am not the pope. i didn't choose the life of sacrifice. charles: what would you say. >> i earned every penny. i am in a which competitive environment, if you don't like me, you don't watch me, then i don't have a job. charles: to greece, ashley
webster has been there, parliament is debating now any sense on which way hey are they are going. >> reporter: absolutely none, charles, they will continue to debate too very early in the morning we may get a vote about 5:00 a.m., all lawmakers wants to have their say. let's revisit how we got here, asking for a third buying out in 5 year -- third bailout in 5 years agrees joined eurozone in 2001 they had access to billions of euros, at low interest. backed by german bund, they spent like drunken sailors, they spent on the olympics then, comes the financial crisis, and 2008 it just went down the drain, that is where we are today,'s 3rd time that eu creditors are asked to
bailout greece, ons premise they will put these economic reforms in place. first two times they it not do it. so question is, to we believe them this time? tsipras, the tbreek greek prime minister, not a liked guy. there is a lot of concern if they get a third bailout, that chances of greece living up to its end of the bargain is low, but we could have a resolution maybe tomorrow if eurozone finance ministers like this deal, we may see that summit set for sunday be a canceled. i don't know, i think it will go to sunday but it appears charles with all rhetoric seeps out it look like greece may get a lifeline at the very last second.
charles: wow to the end, bitter saga, we appreciate your work ashley. we're witnessing governments in the world digging deeper holes with more promises more spending from chicago could china, bailout of greece, think about greece, they are drowning in their lavish promises, to cling to political power. buying off the electric cannot last. some point, toking margaret thatcher's point, at some point you will run out of other people's money. her geraldo, china, we may have to bailout puerto rico, and others, leaders in my mind don't have the toll say no to their people.
>> absolutely, puerto rico i am more familiar with than frees and china, they owe 76 billion to creditors, and it is trying up, everyone in puerto rico works for the government, it is a disfunctional government, i love puerto rico, i have a home there. i -- my dad was one of 17 children raised in puerto rico. it is a wonderful place, it should have 51 st state and should have fiscal discipline. charles: why is it not a state? if you could tell any american, you don't have to pay federal taxes, you can't vote for president, a lot of people say i'll take that deal. tammy, 1950 puerto rico grew 56% of its own food, they had transfer payments.
70% of people there, anyhow does a politician find a way to tell people we're killing ourselves, i am cutting you off, and still get elected. >> it is not going to happen, you have if you can be bailed out, can be coddled by larger neighbor. that says we'll take care of this. you have a larger argument? in america we we have world reserve currency but we may need a bailout, we have a hard break, we will talk about jeb bush. he is raising gobs of money, maybe trump will not have the biggest wallet. we'll be right back. this allergy season, will you be a sound sleeper,
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charles: it is big money versus big hype, we know that donald trump is quote, very rich. >> i don't need anybody's money, i'm using my own money. i am not using lobbyists, i don't care, i'm really rich. >> donald is really rich. we know that. here is how he is making inroads he is not right now spending a lot of money. his main rival jeb bush is raising gobs of money, if donald stays true, did you not raid money there is a chance he could be outspent by bush. rob is joining me, one reason
that people love trump, he is not afraid, not beholden to anyone. bush keeps raising a hundred million here and there, trump may have to write a big check or go back on his word. >> trump is doing something nobody else to doing, he is using media to his advantage, if trump went to opening of a gas station in toledo, ohio, hillary getting 5,000 people. at roosevelt island, parent company is getting millions of people listening to him right now. charles: i know, he announced on facebook 6.5 million impressions >> he is the most adept in understanding of media, that is something that politicians don't have or they are afraid of the media. donald trump is learning a lesson.
before his money protected him with some things he said. but he learned about what the rest of us experience with culture of threat, and dynamic of what happens with left not liking something you said, it could make him a better candidate, think it a good thing. charles: do you think so. geraldo, he has not changed his position on anything he said. >> i am mad at him, and i am a friend of his now for 30 years plus. ly was he was a boss a nice guy but he said something that hurt a lot of people unnecessarily. it was cruel, it was stereo type, a generalization, condemned an entire nation, a whole race of people, i wish he had the confidence to apologize.
charles: he said i love the mecurio mexican people. >> saying, it is a people that they send here are criminal element not all of the mexicans but those they ship here, by the way, it would not be first time, australia was populated by criminals. >> but it is false. when you look at crime rate among undocumented immigrants people he was referring to, it is below crime rate of citizens that is well 17 established now, for him to stereo type was out of bounds, and then make a point you need border security. charles: if he said, i spoke off of the cuff, i don't think that every mexican man is a rapist and move on. would his message resonate more or less. >> i think he knew what he was doing. it was calculated, because he could have say said, you know mo is not sending over doctors and
lawyers and best and brightest, he went right for jeug jugular everyoning it would be controversial. charles: thank you, rob, are we too pc of a nation? there is a new show on mtv that shames white people, that is right, rob is leaving, we'll be right back. super poligrip seals out more food particles. so your food won't get stuck, and you can enjoy every single bite. eat loud, live loud, super poligrip. super poligrip
charles: i think it is safe to say political correctness is running amuck. people saying we're a more diverse nation. i'm not buying it. cheng check out this new mtv show, publicly shaming white people for all bad things they have done in america. >> say the wrong thing could suddenly you are a racist.
>> i don't want to offend people >> i feel like you are attacking me in if i bring up any sort of race issue with my parents they assume that i am deem op eyeing them. >> -- deem op -- deem an rising them. >> is a self shaming. >> i want to say some of my best friends are white people. they are fine people. stereo typing them is wrong. charles: you think so, you think this whole thing about retro actively going back rewriting wrongs yesteryear. >> the more people contort themselves to speak to entire races that is what i hate about generalization, white people are everything that tall to short,
skin to fat, you know right wing, left wing, middle wing. you know, to try to generalize, it is ridiculous. charles: hillary cramer is joining us, we saw them take down the cop fed confederate battle flag over the capitol building i find disturbing is if feels like a lot of important people starting at top president obama spend so much time fighting things or relitigating things that we've already gone through, we need to go forward look where we are going rather than the rearview mirror. >> well obama thinks as we heard many times that racism is in our dna, high is is he is going become ward, there are many people, they are sensitive and
concerned because of where they have been raised. charles: what does that mean, rich white kids feel guilty. >> that is right, this on mtv just enhances that, that is not the answer to making our country unified, just be yourself. charles: some breaking news, ellen powell, at center of high profile lawsuit against kleiner perkins announced she is resigning from her position there have been calls mounting for her departure. she was seen as a divisive figure who should never have been at center of any movement. >> this was huge, a lot of people thought she would win she lost then she goes over -- a cam
campaign with over 200,000 people signing a petition for her to leave. >> when you are a woman, and moving to a field that has been primarily men there will be difficulty, not just there because she was a woman, someone was fired. charles: what about her the face of gender bias of silicon volley. >> that is the problem, i know ellen, she had a gender bias case, but she didn't have personaly to get a long with people or with any community. she sues over not being able to fit in, if she were a man she would not have been able to use the fact that she was a woman, now what happened at red it. charles: women, where are we there? is that something that is a li
-- legitimate argument. >> i think that racism is in our dna . in terps of women, they have a biological handicap when it comes to success in workplace when they take time off to have a child. charles: but not a mental handicap. >> i'm sure it is a bunch of things. charles: thank you. hillary cramer said wait for her in the green room. charles: how about this, 70% of population, social security numbers have been hacked. head of agent that was responsible for losing it resigned, we'll try to get more answers, we'll be right back. ♪ i built my business with passion.
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director of office of personal management archuleta. >> they should not -- what is point of incrypting data, it could still be stolen. >> damage this has been done, i think that yes, i think she needs to go. charles: by noon they got their wish. this is not just about one person. it is about everyone. how do we protect this information welcome david nelson, chief strategist and john, cute prep forensic expert. politics aside, the administration was warped about the -- warned about the vul nir billy of off system, what can we didn't to make them safer. >> they are taking most steps,
we should neff have gotten this to point, can you imagine with all these laws, against private corporations, this hack exceeds anything. they have been warned and warning yet they did not take basic steps necessary, with a comment like that, it could have been stolen go way, a secondary level of security. it is publicly revealed you didn't take basic steps to protect your network. charles: that is what happened, we are talking about people personal information because they want top-secret clearances, they lay it on the line, now someone in china has it, we hear stories of people selling health records for 500 bucks, what can be done now. >> there is nothing you can do to get it back. charles: what do you make of idea they were in our systems
for a year, ticking around, set up a tent a fe a barbecues, they could be in our electric grid or in the pentagon. >> they need to take a proactive approach, just sitting back let a network be so slulle jul -- vy were warned. >> this is a big intelligence breach, some people that have their information exposed they are top level fbi state department officials, tha that - potential to comp myself get access to this. get since tip information recruit a spy. this is huge. i think what john is saying, data is gone. it is too late.
>> it starts at the top, that is with obama, he is not taking this seriously, he is a whimp, chinese are responsible they should be threatened with trade. charles: this whole thing, life lock, like price is right, someone won a car they give you a bo boxerbox, i think this a t. i am scared they are in the system now about they are. >> u.s. government's fall we know that there are criminals we did not stop it. charles: and affect of california drought. felt beyond brown lawns, a new report on how much revenue is lost, and how many people will lose their jobs, this is staggering, we'll be right back. ...and the wolf was huffing and puffing... kind of like you sometimes, grandpa. well, when you have copd, it can be hard to breathe.
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charles: california's drought continues to linger on. more than just water shaming. this is a cost, now estimated to be close to 3 billion in revenue, 19 thousand jobs lost, real sin this could have been avoidedded. tammy, your thoughts? >> i moved to new york from california, you saw this bad management it is about leadership, when there is a chance you had places to gather rainwater, we needed to save the smelt. charles: that is that fish. >> yeah. and about idea that water needed
to go through that particular waterway, and back to the ocean, there is now like maybe one smelt, one of the fish not enough for a salad in this area. and it doesn't really exist, this is once again leadership decisions, not about nature or about -- it would have been fine if we were prepared but liberal leadership. charles: the same thing happened to spottedded owl, larger cousin kicked it out anyway. >> i think that it just ridiculous businesses are leaving california. charles: going to leave? >> they have left. >> a than stop convoy out of there, and great people like tammy leaving. >> what about the 8 billion spent for a high-speed rail train because of politics that money needs to put toward water resource. >> what are you going to do, this is a human tragedy.
>> and tom selleck needs to stop using water. >> but the rain is not here, that is only thing that will fix this, increasingly farmers are hitting ground water, california will probably have to rethink of themselves should they be an agriculture state. >> look at israel, it was baron they did to. >> it did you not matter whether global warming was an issue. charles: these are man-made, government mistakes placed to political correctness over a small fish. no matter, i don't think that jerry group is going to do it. >> wents you -- part of problem is recognizing what your issue is to fix it. as opposed to saying we're not like this any more, the issue circumstance we made bad decision z because we're
liberals. >> if we did those could we have solved it? >> nowhere near the mess. >> if we saf safed that rainwat. charles: we know more and more of us are cutting cord, espn, is in trouble, "wall street journal" reporting they are going 3 a belt tightening problem trying to cut $100 million from next year's budget, a lot of big names are out, but it worse, we'll tell you about it when we come back. if you're taking multiple medications, does your mouth often feel dry? a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief
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charles: espn really tightening its belt, with a lot of competition, as a result the subscriber base is down 3.2 million, a couple years ago, you get disney's earnings you look in there what was it? espn . >> it was 25 percent of operating budget. my concern, as a shareholder they tried to hold on to old business model too long. the world moved toward streaming, cutting the cord, i think that disney will recognize that move conat any time t tenty time to a streeping fashion. >> we all involved with platform i think when you have success, it is difficult to think you need to change it that is part
of bloj thablock that needs to . charles: of corporation understands, we' creative destruction is part of business. i have to tell you, getting rid of talent, cutting costs is not the same as freewaying a business. lou: -- as growing a business. >> everyone is focused on disney and study yois, that is why stock is a 52-week high, espn needs to be fixed, disney is trying to develop means by which to do niche oriented rather than mass media, they know they have a problem. >> bottom line, they are still over 90 million whatever subscribers this is a tale about cable versus streaming and battle with both of these platforms we need cable for a few things but once we don't need it, we're in trouble. >> it speaks to the bundle, it is figure the way of the
dodo that their cash cow. they would lose a lot of subscribers. charles: espnp-- alacart 30 buc. >> all right, leave it there, it was a crazy, crazy week. i buckled up every day, i still got motion sickness, we did rally today up to 11 we gave some back at this moment in greece they are still trying to figure on out, we'll figure it out for you when we welcome back. [ male announcer ] we know they're out there. you can't always see them. but it's our job to find them. the answers. the solutions. the innovations. all waiting to help us build something better. something more amazing. a safer, cleaner, brighter future.
>> we will go tomorrow morning exactly what is happening and was grazed it was china hopefully at this point to put them in their rearview to look at the federal reserve and is a cycle lot of different things. so to talk about her goal but to make sure we will guarantee to see another crunch. >> tried to control the economy. >> that is one heck of a statement to make. >> people think we are minutes away from the next big thing to blow up. >> will be guaranteed a return from the marketplace?
and a half a myopic view there will raise rates idle think that means anything because internal rate will be 1% and not slow the economy. >> we'll understand what the five basis points that just means i will do that is why in and done but the notion to ever have the major financial crisis after sitting and 18 trillion of debt is she nets? >> she is crazy. second less brian williams is now writing her speeches it should worry people that someone in that position is so odd of touch that even a person like me worries about it is not connected to
reality. >> a lot of people understand wages have gone down and the economic juggernaut has faded i am worried people think we cannot be great again part of the fed's job is to be a sales person but that is irresponsible. >> diane will defend her in this context that the american corporation is are not spending capital we need scatbacks in this country too much money in to buy back. >> before we go we will salutes american success a financial firm started with mr. alvarez $200 and a fax machine to promote diversity and began to franchise his business to focus on his community crow rate to 40
locations and it is an american success story. if you have any send them to be a key for watching every night it 6:00 great weekend, good bye. good evening, everybody. i'm lou dobbs. it's been a day of uncertainty after three major companies were hit by so called technical issues and glitches. the stock exchange suffered a nearly four-hour halt in trading by what they termed a technical glitch, but the freeze in trading was highly unusual parking considerable speculation that it is far more than a glitch or simply technical issues but possibly the red light of a cyber attack. at almost the same