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tv   Making Money With Charles Payne  FOX Business  October 10, 2017 6:00pm-7:00pm EDT

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corporate control in history. thank you for having us in your home. charles payne is here now with "making money." charles *. >> another day on -- record day on wall street. wildfires raging a across northern california leaving 15 dead and thousands of homes and structures have been destroyed. as "the national anthem" protest left this country divided. the national football league speaking up in order to brit fans back it's saying it may require the players to stand up starting next season. the nfl, the commissioner sending out a lengthy owners
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saying like many of our fans we should believe everyone should stands for the national anthem. is it too little too later on can they fiction this huge huge issue they created? >> they are trying to turn it our. i think this is more about profits than principle. they are giving owners cover. we'll put out this blanket statement so you can have your players stands for the national anthem. i don't think it was based upon patriotism. 34% of adults said they would continue the nfl less if the protests continue. charles: we did see jerry jones come out with a full-throated situation even though he was
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involved in a kneeling situation. individual teams are getting the message, if not the league. tammy: how seriously they misread the american public. remember the players union -- charles: is that elitism? tam were this writes they have begin to think only of themselves. they did get a wake-up call. in that letter in the suggestion was during the season they could give them a platform for their issues. here is what i suggest. the rich young men during the season choose a charity, choose an action they want to do, choose something that they adopt and the nfl will promote that issue for them. i don't think the country is divide. last sunday if it was maybe 20 or 30 individuals. i think this is only about
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politics. somebody thought it was a good idea. cheerly it is not. i don't know if it will be successful. but it's a good idea to keep a player off the field if they do neil. why not just leave the teams inside during national anthem. charles: there are a lot of players who want to show their patriotism. speak of backtracking and blink. colin kaepernick saying if a team picks him up, he will stand for the national anthem? >> he's going back and forth. charles: we got a report that's not true. we are getting mixed signals. we saw over the past weekend. one of the first six who needle. he said it was for the victims
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of las vegas. i think they are look for a graceful way top bow out. they bit off more than they can choose dan they are probably getting the message from their coaches, and their agents that it's too much. these players are protecting their brand. if it's your brand to be the connect che guevarra, go ahead, take that risk. of course, now this includes espn where it's gone haywire. jemele hill has been sidelined for two weeks. her co-host michael smith sat it out last night. the parent company is disney. they understand they make their
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money by making the public happy. tammy: the problem was of course, calling the president a white supremacist,baugh but suggesting a boycott was. if you are going to have someone saying boycott isers, sudden -- boycott advertisers, shouldn't i as you suggest, it's about money. something that would affect her station specifically. the moment you signal that there is no team work with the nfl, that we are operating as a team. there is a framework we are all interested in. the moment it's the individual interests here politically that is going to be the political thing. this is about ende entertainment and sports. if you want to be an opinion commentator, we enjoy doing this.
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but if you are not doing that, stick to your business, make millions of dollars and put that to good use instead of contrived demonstrations. >> pro athletes are entertainers. if the person who owns the stage pays them to play on that stage says take it somewhere else. charles: the one who owns the stand didn't take a stand earlier. >> when the dallas police officers were murder, that wasn't aloud. with jemele hill, she was biting the hand that feeds the hand that feeds her. if she thinks that will work, i challenge you to boycott the pillows advertising on fox.
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charles rrp you have al sharpton saying boycott espn until they rescind jemele hill's suspension. tammy: barack obama's nature as a community organizer, digs based upon race, involve seattle in the unions. one of obama's main advisors, al sharpton is chiming in as well. i think it many patronizing, too. she can take responsibility for what she has done. she should, we are all adults. this is big business. but the main thing is to part of your point. this is about leadership, owners of teams, leaders of networks. need to go stands for something. >> before the president's statement, very few players were following mr. kaepernick's lead.
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maybe some of them feel like the pressure is off of them to be expressing militancy they don't agree with. charles: the original protest in your mind, was that authentic enough that during "the national anthem" you should be protesting police brutality? >> that wasn't what mr. kaepernick said in the beginning. i would actually refer people back to martin luther king's "i have a dream" speech. he said not to be seduced by anger and militancy. we need allies. we need to look to our constitution and the principles that we paul need to be made. charles: they have to hope they can bring the fans back.
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>> one of the most of beautiful heart wrenching renditions of the national anthem was whitney houston in 1997, america's black princess.
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charles: wildfires are ranging through northern california. among those killed a husband and wife ages 98 and 100.
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reporter: firefighters are california and nevada are battling 17 separate fires tearing through northern california wine country. 20,000 people have been evacuated. we just got an update from the sheriff. he says there are 200 people missing and they don't know how these fires started. president trump approved the major disaster acla racial for northern california. that means fema is on its way to assist with search and rescue and get all of this rubble and debris out of the way. the california fire chief says they have access to almost every firefighting asset in the country. thfirefighters batting the flams
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from the ground and above. >> we can't keep our guard down. we are looking at fire weather conditions and potential red flag warning returning as early as tomorrow in northern california. for stronger wind, and low relative humidities. reporter: the fire conditions potentially getting worse. we spoke to several neighbors, one resident told me whose neighborhood looked like a war zone, they had just minutes to get out and run for their lives. >> a lot of smoke, a lot of ash and a lot of chill any, fringe ray towards, waishes and dryers that are still standing and that's about it. >> it's like a bomb hit. there is just nothing left in my
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entire neighborhood. my house survived. my barn burned. but my neighbors -- their houses are gone. reporter: damage is being assessed but the plays is delivering a heavy blaze to the reason. it will have an affect on the wine industry for years to come. last year alone 3.5 any visitors came to napa and serve hotels burned to the ground as well as a lot of wineries that you have a wine tasting tours. they have been torched. we are at the nexus where all the firefighting departments have gathered to load up on supplies. this situation is not going to be over by tonight.
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it won't be over by tomorrow. charles: thank you very, very much, hillary vaughn. joining us the california state fire marshal. you have 15 separate fires raining throughout the area and no one is sure how they started. it's a very dire and desperate situation. walk us through what perhaps is going to happen next. >> charles, the fires are all under investigation. investigators will be on the ground conducting investigation. but the primary focus is saving lives. a couple hundred people are still missing. that's critical to try to make sure they get out of harm's way. the second most of critical thing is prevent the fires from growing. most of of these fires are still in zero containment.
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which means we don't have lines around them at all. >> on that note, let me ask, hillary vaughn told us a record amount of water retardant has been dumped on that area. it seems that this is an unstoppable fire. how concerned should people be about the ability to extinguish them without having to extinguish themselves? >> that's a good point. that's the challenge facing our fire service fighting the fire right now. the primary focus is to put a line north and south of the fire. these are commonly called diablo winds. and actually this is the same month, 1991 that the great open
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hills fire occurred with a similar kind of situation. what happened is when the fire blows down through the canyons it heats up and speeds up was it's coming out of the north. through the heat of compression it comes blowing across the valley extremely fast. we have winds up to 70 miles per hour. so we are coming into a situation where you went from just utter [inaudible] right into the cities. charles: we are breaking up a little bit. but your description and expertise. it's a desperate situation. 15 are dead, 200 people are missing. president trump take an executive order on obamacare. we'll be right back.
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>> i'll be signing something this week that will go and long way to take care of the people who have been badly hurt on healthcare. they will be able to buy, they will be able to cross state lines and it will cost the united states nothing. take care of a big percentage of the people we are talking about, too. with congress the way it is, i decided to take it upon myself. charles: president trump promising to sign an executive order later this week. he also said he's going to make change to the proposed tax plan. >> people want to see tax cuts, major reductions to their tax forms and reform. we'll be adjusting the next few
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weeks. but it's become very, very popular. charles: back now is family bruce and eric schifer. the dutch put together a government and it centered around tax cuts. their business tax rate is 21%. and the tax cuts from the wealthy and middle class and they are removing tax on dividends. eric, you are a businessman, how does this sound to you. >> this sounds great. this is the challenge to the united states. this is why so many jobs continue to get shirpd overseas. you see the president want to fix it. you would hope democrats would want to fix it.
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you you learn the lesson why hillary clinton in part lost because she wasn't focused on the economics of the middle class. the president will raise the limits for the middle class so more fit in and it benefits them. i hope to see sit, because the country needs it. i don't agree with goldman sachs. i think the economic on the economy will be greater than they are saying. charles: everyone agrees it will be an impact. irbc said one of the big winners will be apple. if he can get his tax plan through, apple will become a trillion dollar company. we are talking about mutual benefits for corporate america, the middle class and everyone else.
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>> i think this is still signaling to the republicans in congress the seriousness of this. the fact that this can be done in may be some arguments about the degrieve the benefits. but there is benefits. i file late in the year. i just filed for october 15. regular middle class americans spend days figure out where you spent every penny to let the government know so you can get some of your own money back. the key is to cut taxes and make it easier for people to make it fair. that's the goal of the president. if it's going to benefit the middle class. more jobs become available. we have seen this happen with president reagan. fort weekend president trump talked about reaching out to chuck and nancy. now we hear about it end sphft week there will be executive action taken to add the elements
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of capitalism. how far about p will that go? >> one concern about executive orders. the more we've can do through legislative means the better it's longer lasting. we have to be able to do that. as we talk to chuck and nancy, when he talks to them, he's clearly finding out that they are not serious about anything. if he wants to be able to expand benefits for people whether it's healthcare or economically -- charles * the healthcare adding a small element of capitalism called competition. >> smart. they need to do it. our rates went up 35%. these poor people that have to get independent insurance that aren't part of any kind of plan
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or association. they are getting murdered. they are getting decimated. something should be done. the president has the means to be able to do it. it doesn't totally take out obamacare. but it's sort of an indirect bomb on obamacare. you will move a lot of healthy people away from the plan. charles: if you guys on either side of the aisle cannot get your act together, so the president is going to do whatever he can. we are going to talk about the gop establishment. they should be quaking in their boots. steve bannon declared war on them. details next. ♪ can i kick it?
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>> there is a coalition coming together that will challenge every republican incumbant except for ted cruz. we're declaring war on the republican establishment. that does not back the agenda that donald trump ran on. >> former white house chief strategist steve bannon declaring war on g.o.p. establishment he said is derailing president trump's agenda. telling sean hannity. with me now, patrick, a fox news
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contributor. >> my pleasure. >> you have been reported have you been instrumental in helping steve bannon put together a game plan to drain the swamp, establishment side, this time going after republicans in 2018. >> well, first of all, i want to add a comment on nfl thing. the leadership of the nfl hired joe lockhart, a political, he was clinton spokesman, they are political hacks of the first order, they are the people, he was spokesman pushing nfl to a confrontation with trump. someone should mention why is nfl having political hacks, anyway. having said that back to your question. i have not been consulting directly with steve. we talked about it overtime.
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he is bound and determined iting challenge the establishment, we're both in agreement. i have said for year, establishment of the republican party is out of step with the rank-and-file. which is why the rank-and-file over threw the hierarchy of the republican party in 2016 to nominate donald trump. that was an act and a strike at the establishment. it really started after 2014 election whether voters in december, the republican sold out everything. they began to want them out. charles: how does a confidant of jimmy carter, when parallels you saw in that period that you see now in respect to the grassroots revolution. >> well, first of all, i am not -- i'm not a fair -- just one
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side on this. i tried to speak for the people i poll. both sides, democrats and republicans. i want to see the democratic establishment over thrown as much as the republican establishment. because together they have delivered this country to the brink of decline, jeopardized every future generation of give their rightful due. they have been operating, american people by gigantic percentages close to 90%, believe these people in washington are in business for themselves, they have reslotted. -- have volted, and we have bernie sanders revolt, and this revolt, it is going to continue. >> pat, i want to bring in define bore alley. and chip roy, da nene, there is
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no doubt about it, they have been tone deaf even the republicans, they won the house, they never 40 back agai fought . >back. >> you are right. just like in sports, you are not winning, you change the players. we have politicians, who have been in the office for years. they have not been doing what they said they would do, this is about winning, president wants to win, steve bannon want to win. the forgotten men and women want to win, it is time to pry the politicians out of office. >> it is possible. to get the republicans, to change their mind, and get
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legislative wins on the board or, are we going to have to bide our time until 2018 elect. >> we'll see how that plays out. i think this is important to keep in mind this is nothing new in politics, it is important in a democracy we have this debate over choosing candidates, we saw it in 1976, president ford was challenged byronnal reagan. and -- we see american people are at a point they want to tight fight on their own terms that people they are sending to washington are representing them, we saw that with election of senator cruz in 2012 in texas. he went to washington he did that. he saw what happened, we saw response from the establishment in washington. with the election of president trump, and now in alabama with the select of roy moore, as nominee for republican party, we see that american people are trurl truly ready for a change
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in washington. >> we'll see, really quick, pat. >> i just want to say, to add, look, it is not a liberal or conservative thing, it is inside and outside. the republicans in washington, have been taking doing the chamber of commerce's, taking money from every special interest group, then voting against what people want. same as democrats, and american people have had it with both of them. >> i agree 1 thousand%. -- percent. >> in the meantime the market, dow had a big day, because walmart fighting back against amazon, closing up strongly, we'll tell you about it i'll get you set for earnings seen, it is time to make some money, we'll be right back. we're on to you, diabetes.
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charles: "wall street journal" reports that apple struck a deal with stephen stil speilberg. first push to original video content.
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charles: all 3 major indices hit all-time highs in this session, this market is far from being overly confident. best performer were utilities.
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widespread strength in the market was under scored by breadth measures. now there were several investment themes that were working today, walmart, surged through resistance levels, after management outlined key goals for 2019, they think they will earn $4.40, commerce is up -- e-commerce is up 40%. you should note, walmart is going to save $20 million when they save plastic bags and 7 million from shortening those receipts. the buyback is huge. that e-commerce number was a shot at a amazon. that slipped behind al alibaba.
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it brought in 226 billion in sales over 8 day period, going to earnings seen, it is expected that american company that do more than 50% of their business outside of country will see top and bottom line growth of 8%. today it looked like they zeroed in on airline. delta reports before they open tomorrow. >> coming up nobel prize for economics awards to a man. famed economist ben stein will help me break it all down, next.
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charles: which advance notion that people do dumb things against their own self interest, applying psychology to economics. behavior analytical that sought not only to study but learn to manipulate or nudge behavior to mitigate or avoid dumb decisions that people would make, the rub is that people are moved by short-term satisfaction, when it harms long tomorrow outlooks. madness of crowds have always moved markets, which is reaches a fevered pitch few can resist excitement of short-term financial gain, sir isaac newton chased the bubble, he lost all his money. these horror stores, are you by people who close risk aversion as excuses for not investing. they could add material themes
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in their lives later on. when i say irrational most people would think exuberance. what is the opposite of that phrase. nudges methods have been adopted by governments to influence on a variety of issues, including retirement savings, vaccinations and sugar intake. latest book, ben stein thank you. >> honor to be here. charles: you know people are self destructive, happens and investing -- habits and investing, how do people overcome those things? >> they learn, they study be they try to do better by educating the themselves. i would respect fully correct that father of behavior is adam
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smith. we have learned that people behave in irrational ways all of the time, we have people who do not get education, and are drug addicts o or alcoholics, and eat way too much, people who behave all kinds of irrational ways, in terps of investing i think most irrational way, with greatest respect to you to pick winners and losers not go with indexes. indexes give you good results. charles: what about people, in the market. >> that -- is is arc stonishin- astonishing, people who avoid market suffer they are afraid of
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a catastrophic, event. so, people who avoid any kind of risk pay dearly for it. you ask opposite of irrational exuberance it would be irrational caution. it amazes me that i meet people in 30s and 40s who do not own any stock, their money is all in bank accounts. why they do that, is a mystery to me. charles: i read millennials have 50% of their money in cash. this sounds nuts. >> this is astonishing. charles: i want to bring government into this what role should they have with respect to manipulating our choices, making
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us avoid making bad choices, such as sugar taxes and recycle, and vaccinations, should the government do our bidding for us, because we can't do it ourselves. >> freedom is an important choice, the idea of avoiding freedom to keep people from eating too much or throwing things they way they should or should not is bad. freedom is most valuable thing we have. that is america's most important product. idea of government controlling us it a very bad idea, i think a bad idea in terms of investing, minimum aim of government interfering is right aim to just -- minimum amount with regard to any business, is right way to do it, we as a nation, behave well by allowing people to take risk. we succeed. and freedom in itself is a valuable goal, even if it does s
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not earn money it is a valuable goal. charles: ben stein you are the best. i appreciate you coming on, thank you. >> thank you so much. charles: a frightening new report claims that north korea hacked and stole soak second anwar plans, including plans to assassinate kim jong-un. that is next.
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it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. charles: north korea hackers reportedly stealing documents that detail joint u.s., south korea military war plans, including a plan to assassinate kim jong-un, it took place in 2016. north korea continues to deny that involvement. with me now, senior fellow at independent institute, this is extraordinary that north korea can actually -- steal war plan
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between u.s. and south korea, including plans for his own assassination, this boggling the mind. you think of north korea as backward supreme and south korea with samsung, and what gives? >> global reconnaissance bureau, 121 unit 180, they are pros, they are disguised they go as trade representatives, these guys are very well trained, a lot of them train across the border in china. we know they are training with china unit 613 nen 98, they are sophisticated. plan they can get operational plans, we think 240 gigs worth of information, they have figured out 20%. how this you know in this day and age with this much material, how this could happen, hopefully there is some accountability and they fixed this problem.
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never under estimate north korea. charles: what does this say about our ability to cyber hack and derail their nuclear ambitions, i did not realize they were this sophisticated. >> this is tough, when sony happened, i said my concern, is because the nsa was inside north korea, it tough to get in north korea, they are a close society, many of their systems are not connected to the internet. we have to get agents to put stuff on. this is a tough road to hoe, it makes it tough for us. >> you have a paranoid leader in north korea, who is already paranoid, he gets plans that south korea is perhaps planning to assassinate him. maybe they speed up their nuclear program? >> well, they could do that or
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something else irracial, such as shell islands or whatever. and or sink ships as they have done. these are military plans, they are not assassination, per se, as far as cia, but a decapitation strike in a practical world the same thing. the united states military, has plans for everything. so it really depends on what they got here. charles: let me ask you, moments ago we had just a couple is dessertcasion -- dessertcasion, what would that put us with our allies. >> it puts us askew of our
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allies. so, i am not sure what alternative is. i am not sure that military. u.s. military wants to fight a 2-front war against iran and north korea as far as their nuclear programs are the same time. so, i am not sure what the rational is by this trump. charles: isn't this clear that iran is violating the spirit of the deal, sponsoring terrorism in the world, it is clear they -- >> we don't judge any other agreement by violating the stir spirit. terrorism is not in the deal. charles: term imi ter imf terros not in the deal? >> well, we talking about here is opening a can of worms when we don't want to. iran is guilty of some of the
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stuff, we have to take one thing at a time, i am not sure opening it will help. charles: i have a feeling by end of week, president trump will open up a can of something else. thank you both, here is the man lou dobbs. lou: good evening, northern california is increases, firefighters battling one of worse firestorms in that state history, 17 wildfires now raging in 9 northern california counties. and the devastating fires have killed at least 15 people. destroyed 2000 homes, businesses and other buildings, scorched. upward of 115,000 acres consumed, more than 150 people have been respected missing. -- reported missing, many unable to communicate amid a widespread loss of power and cell phone service, and the wildfires,

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