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tv   Making Money With Charles Payne  FOX Business  July 5, 2019 2:00pm-3:00pm EDT

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money, getting attention. all of sudden you become the target. she becomes the new joe biden in that regard. still has comfortable edge with overall funds raised. stiller, a long way to go. to my buddy charles payne. charles: thank you very much. i'm charles payne this is making money. it was a monster jobs report. the markets remain on fire. we'll break it down for the possible path of the federal reserve, what they do later this month and for the rest of the year. iran issuing a new warning to start enriching uranium, to quote, any amount they want. we have an expert here to tell what the latest threat could mean. president trump delivering a power being speech to boost american pride and patriotism on independence day. >> our nation is stronger today than it ever was before. it is its strongest now. [cheering] charles: critics are blasting
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this speech a new poll shows overall pride in this country is at an all-time low. is it another victim of massive political division? if so, how can we make it better? how can we make it better? that and more on "making money." ♪ charles: the u.s. economy added 224,000 jobs in june. probably 100,000 more than the whisper number. the federal reserve keeping close eye on the today's jobs report. what will the senbanc do? everyone thought they would cut interest rates at end of the month. president trump sounding off on the fed. >> if we had fed lowered interest rates. it is like a rocket ship. we don't have a fed to knows what they're doing? it is one of those little things. if we had a fed that would lower
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interest rates we would have a rocket ship. charles: here to discuss former jpmorgan chase chief economist anthony chen, national taxpayer union senior fellow mattie duppler. mattie, let me start with you. a rocket ship a lot of people believe we would be better without the december rate cut, where we would be now? >> if you add sugar to the economy you would go faster. people focus the on 224, more than 200,000 in the household survey but the real number to focus on the labor force, grew by over 300,000. charles: right. >> that tells you a lot of people are coming in. there is not a lot of inflationary pressure. that is one reason why the average hourly earnings -- charles: we saw a million people leave the labor force. i was scratching my head. i thought that was a red flag. i love the folks are coming back. how come the numbers shift
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dramatically? >> they are very volatile. when you look at them over time. you saw the labor force participation rate pick up a 10th. that tells me there is no inflationary pressure. another thing, in two more months you will see in august the average hourly earnings numbers grew twice the average. that will be a head wind for average hourly earnings. come august the year-over-year figure will be weaker than is right now. so something that the federal reserve undoubtedly will be tracking. >> something powell talked about. mattie, to anthony owes point, reinterpretation, 3.7% unemployment instead of 3.6%. mainstream media is running with that as quasi-bad angle with this. who can argue with 335,000 people coming back to the labor force, 224,000 getting jobs. >> this is part of the story of the economic expansion. we've seen people come off the sidelines, back into the labor market. the fed said for a couple of
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years they thought full employment was something above 4%. we're now below 4%, obviously. 3.7%. we're still at 50-year low for unemployment. does the traditional nexus between unemployment and inflation still exist? that is interesting question. powell said he is not sure himself given how low inflation has been. glad anthony brought this point, one inflationary precious but also something the fed is watching closely. the trade tensions with china. having cease-fire in place, will bolster the fed that the economy is doing well. that is another headwind that thed if is consistently noticing there is problem contemplating whether or not they have a rate cut at the next meeting or later in the year. charles: although, anthony, the fed talked about low inflation, the inability to create higher inflation. also powell spoke more recently about the global economy. germany have more bad data,
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really poor economic data. we worry in the manufacturing side, that it is seeping up on our shores. where does this put the fed in your mind? will we see a rate cut this month? will there be multiple cuts before the year is over? >> with the federal reserve sell graphing they were cutting rates it, would be difficult for them not to do so. with this report it, takes 50 basis points off the table t may even take thee rate cuts the market was expecting between now and the end of the year but it doesn't take off the july rate cut. i think it would be a real shock to the financial system. charles: right. >> when you look globally, charles, you're spot on. when you look at capital spending all over the world except the united states has been slowing down. the only reason why we're growing the service sector is doing well, consumers are doing well. you need to remove uncertainty. why i think the central bank will cut rates in july. charles: chairman powell said an
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ounce of prevention. people are looking for it, whether you call insurance cut, feels like they're committed to it. i think it would be a huge mistake for them not to, even if the market, the economy doesn't need night no doubt that the markets today responded to this jobs report thinking that the fed might not cut rates in july because of strength in these numbers. analysts are saying this is still probably, you know, better than likely we'll see some kind of a rate cut, maybe not 50 basis points. i personally think the fed, if it is going to cut it needs to be something that is meaningful in order to show they have the strength of their convictions, that the fed needs to intervene in this economy. i think a 25 basis point cut might show they are listening to the headwinds coming from the economy but i don't think it demonstrate they have a sure outlook where the economy is going. in july, if they hold, you will see a lot of tweeting from the president about that. i don't think you will see a lot of economic up certainty. there are a lot of firms looking at fed, looking at analysis.
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charles: right. >> making the same assessment for their own practices. >> 30 seconds, anthony. i have to ask you about two folks nominated for fed, particularly shelton, somewhat controversial. do you think they will get through? >> i think probability of two fed picks getting through are much higher than the prior two picks. that is sustaining the obvious. looking at controversy, that could be a little bit after headwind. i look for a lot of controversial statements to be made, toned down, even some dovishness that you get, you heard about these two fed officials to also be toned down to smooth their way into getting confirmation. so i think probability is, fairly high that they will go through. charles: thank you very much, anthony, mattie, thank you very much. we'll talk to you both soons. president trump defying critics expectations, delivering a apolitical speech in the july 4th salute to america. >> we will always be the people who defeat ad tyrant, crossed a
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continent, harnessed science, took to the skies and soared into the heavens because we will negative forget that we are americans and the future belongs to us. [applause] charles: now despite the positive message his words are being slammed. also there is a new "gallup poll," might have heard about it now, implies american pride is saying all-time low right now. so the question is do we need more events, more speeches like this? joining me the founder of turning point usa, charlie kirk. that "gallup poll" extremely divided by political parties. democrats are down to 22% with great pride, seeing greatness in america. that is where the rael weakness is coming from. >> look, charles, it so interesting about that during the obama years, conservatives, people on the right, their love of america never went down. it is really interesting how for democrats, this is reflected in the gallup data, that they are proud or not proud to be an
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american based on who is president of the united states. for me personally, those of us that are conservative we don't judge it that way, based on our ideas, our history, our people. really mows amazing country ever to exist in the history of the world. the president should celebrate america every single day from now until re-election. he will be unstoppable. charles: [inaudible] >> well that might get a little costly. the ethos of his message yesterday was incredible. talking about our greatness, our resolve, people's lives domestically internationally are aim proved because of americans. one of the amazing moments when he pointed out the medical innovator to allow childhood lukemia, treated more effectively. something i did not know about. this is part of the success story of america. we're in a period of pros pair where things are going really well. yet people's perception of america's direction is the opposite. it is really amazing -- go
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ahead. charles: let me jump in there, charlie. you mentioned perception. when you have the three major television broadcast outlets saying they will not show the speech. msnbc saying they will not show it. the inference, this will be a political came pain. it is sort of adds perception is aided pushed around in the country by the media. they get to set this in expectations about how we feel about ourselves. what kind of a mistake was that? they made this assumption, despite promises from the white house it would not be that kind of a speech or that kind of a spectacle? >> well, they almost want to create an enemy out of anything that president trump participates in and the whole kind of doctrine of the left right now, whatever president trump does must be bad, even if it is celebrating the greatness of our country. seems as if the left made the idea of america political. how dangerous is that, charles? not only how silly but that is a dangerous direction to be going. the celebration of the greatest
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country to ever exist in the history of the world, remembering that people allowed us to get there, our veterans, our own servicemembers is somehow a controversial message. it is not right. charles: i have 30 seconds. i have to ask but the betsy ross flag. seems like a long line of things to chip away, sort of, i don't know what they're doing with history. you can't change it. i think we should be celebrating where we have come from those days but, just real quick, your thoughts on that? >> president trump gave the speech at the lincoln memorial. abraham lincoln also had his faults, believe it or not. he led a war to eradicate slavery. he also led one of the worst american indian genocides. a lot of figures we remember for virtues but not their detriments. that is the correct way to analyze history. so sick what the left is doing with regard to the betsy ross flag. charles: all our heroes have issues. the country was not perfect. we're trying to get there. charlie, i have breaking news.
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>> thank you. >> justice department telling federal court moments ago they're exploring options to add the citizenship question to the 2020 census. after the supreme cut ruled that the administration failed to give adequate explanation for the need for it. president trump is telling reporters that he is considering an executive order to mandate the addition of this question. we'll talk about this later in the show. the squeeze on the u.s. sanctions, from u.s. sanctions causing iran to lash out. it is now warning it will increase its rain july enrichment any moment, starting sunday. it is trying to pressure europe. as the escalation continues. the strongest earthquake in southern california in two decades creating 100 aftershocks. we'll go on the ground where the cleanup is on the way. ♪ my experience with usaa
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it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our lowest prices of the season. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. don't miss our 4th of july special with the queen sleep number 360 c4 smart bed now $1299. plus, free premium delivery when you add a base. ends sunday. sleep number. proven, quality sleep. charles: despite president trump saying iran needs to be careful the rogue nation says it is taking the next step. amid tightening u.s. sanctions iran is threatening it will increase enrichment of uranium to any amount they want starting this sunday.
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the threat comes as iran is warning of retaliation against britain after its oil tanker was seized on its way to sy i can't. want to bring in hudson institute senior research fellow rebecca heinrichs. let's start with this. the headline i read, iran warns europe. for the last several months iran has been trying to europe, or pit europe against america here. what do you make of this? they are given hard deadlines and they are making very serious threats? >> the idea here is the iranians are trying to do this, they provoke, they have these low-level acts of aggression against tankers, in the gulf of oman. shoeding down the american uav. they're doing that trying to say look, we're not the ones who are aggressors. we're only doing this because the big, bad united states is taking away waivers previously there, and they are crushing our economy. they're trying to say look, europe, you have to help us.
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we're the victims here the united states is the aggressor but i've argued, it will backfire of the longer the united states can act with restraint and not respond military, but continue economic pressure, continue to implore the uraniums not to advance their nuclear program, come back to the negotiating table, the better the united states looks. we can get the europeans in our corner. charles: rebecca, president trump said listen, he want to negotiate with iran. he will do it without any preset conditions. meantime rouhani said our advice to europe and the united states is to get back to logic and to the negotiating table. seems like america and europe are willing to do that. is this typical doublespeak we've been hearing for so long? >> yes it is doublespeak. the iranians are waiting out the trump administration. democratic party, senior democratic officials supportive of the iran deal, the jcpoa. they think if they wait out president trump, continue europe on their side, trying to keep
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the deal on their live, if they get a democrat president in the united states, they will get all of the economic sanctions relief back, they will get waivers back in place, their regime can stay afloat, their economy can get back to where it was, they can continue maligned activities with impunity. charles: right. >> that is the strategy of the iranian regime. charles: pro tip to iranian and company, stop shooting down drones if you want to wait it out. hard to wait it out if you act that way. british seizing oil tanker. these are european sanctions applied to iran. iran is trying to sell oil into syria. how does that work and what kind of retall can we expect? >> my understanding this is violation of sanctions against the syrians, that the iranians were violating trying to get oil to that support various groups that the eu has opposed and is trying to stop. they are enforcing their own sanctions. ams about door bolton praised
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that, that the united states stand with the uk about this. iranian regime to threaten in some fashion to respond by harming a uk tanker, again that would backfire that would go against their strategy to pit the united states and our european allies against one another. that is only going to galvanize support for the u.s. position and to continue to squeeze the regime to force them into the negotiating table because the difference between the trump administration and obama administration on iran, the trump administration does not believe the iranians want a peaceful nuclear program. they want a nuke cheer weapon. they haven't made the strategic decision to forego that plan. charles: rebecca, thank you very. appreciate it. >> thank you, charles. charles: president trump to fight the census citizenship question. say that three times. we'll take you live to the white house next. president trump, what does he really think of chief justice john roberts.
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>> we're spending 15 to $20 billion on a census. we're doing everything. we're finding out everything about everybody. think of it. 15 to $20 billion and you're not allowed to ask them, are you a citizen? by the way, if you look at the history of our country, it is almost always been asked. so we're fighting very hard against the system, that is very difficult system. charles: president trump is confirming reports that he is considering using an executive order to move forward over the battle of the census question. the justice department saying moments ago, it is exploring options to add the citizenship option on the 2020 census. edward lawrence is at the white house with the latest.
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reporter: they are going forward with continuing a legal battle to get the question back on the census there. president donald trump saying himself he has his own options. listen. >> we can start printing now, and maybe do an addendum after we get a positive decision. we're working on a lot of things. neil: including an executive order. reporter: that executive order if he goes that rout would restart the legal process. the president said they could have an addendum that adds that question. he was tweeting about the subject over the july 4th holiday saying so important for our country that the very simple and basic, are you a citizen of the united states question be allowed to be asked on the 2020 census. now privately the president has been questioning whether the department of justice or the commerce department maybe gave up a little too easily or didn't go too far or far enough. last week the u.s. supreme court blocked the question saying the administration failed to articulate an adequate
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explanation. democratic hopefuls latched on this, weighing in, tying it to the immigration debate. >> right here in the heartland community that might not have had a chance otherwise are growing because of immigration. this is a time when we should be as welcoming as possible. and for some people who lack a pathway to citizenship, we've got to fix that the citizenship question is motivated by racial and partisan reasons. it has no business in something that is supposed to be neutral. reporter: the commerce department says they started process to print out the census. however the president, as you heard, he believes they can add an addendum later, should they win the legal battle. back to you, charles. charles: thank you very much. i want to bring in attorney misty maris this. where are we legally? >> supreme court has left the door open. they never said the question itself was improper. they just required the administration to provide additional rationale or different rationale than what was provided before. what we saw today was the
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maryland court this, is the federal court where the case is pending, say, look we need clarity what's going to happen. the department of justice apparently said, we're moving forward with this fight. they said in a conference call today with that judge, they needed tile to get evidence together, to gather that, to prepare something to show rationale that is different than what was previously given to the court. charles: president trump alluded to the fact that this question used to be on the census, right? it is not unusual that it appeared there. it was under different sort of administrations, republicans and democrats. so it wouldn't necessarily be racial. how much more information would the supreme court need to go ahead and make a decision here. >> look, what the supreme court said under the administrative procedures act, which requires any administrative agency to give the why they're making a change, the reason provided that it was to enforce the voting right act was at odds with the evidence presented.
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so, charles, you bring up a great point. it is not about whether or not the question itself poses a constitutional concern. it was about what the evidence showed as for the reasoning. so they're going to have to show a different reasoning. that doesn't necessarily mean it can't be based in the voters rights act or something of the like. again, there has been no indications to identify non-citizens this is about identifying voters. it is just going to be the way it is presented and articulated and backed up by evidence. charles: is this an unusual ruling though, for the supreme court to come up with that? from what i have read from some legal scholars saying their rationale for sending this back is nonsensical it, shouldn't be part of the questioning? >> it is interesting that you bring that up because in the partial dissents that were written by other conservative judges they said, look you're basically saying, we can't move forward with the question because you're not buying the explanation, not necessarily on the legal basis for including the question. so yes, it was unusual.
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i think that we're going to see many more legal challenges with this issue. so charles, what happens is, now the supreme cut essentially kicked that back to the lower court. the lower court has another issue the supreme court has not faced yet, as we of today know moving forward, that is an argument that will be presented in maryland, maryland federal court there was discriminatory anna miss. that is why the -- animus. that is why the administration put this forward. charles: my producer will get angry. i have to wrap it, i have to ask you, many people are wondering is the chief justice roberts conservatives thought they were getting when he was nominated for the job? >> the backlash is, they did not expect this. that he is the new swing judge. we don't know which way he is going to go on some of these issues. charles: misty, thank you very much. appreciate it. >> thank you, charles. charles: strong jobs report. we know that is great news for the economy. dampening investors hopes for a
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♪ . charles: welcome back. happy birthday amazon. the retail tech giant turns 25 today. back in 1994, it was a book company run out of jeff bezos' garage. the border patrol investigating a second secret facebook group mocking migrants and lawmakers. last week a group was exposed. the second sent memos to all employees about conduct. prius, has high-efficiency
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an panels allow 27 1/2 miles per day and could be charged by driving. no word when this would be available for commercial use. some investors are wary what the fed would do. stocks were lower as the estimates for a fed rate cut also have been lower. but major indices well off the highs, well off the lows, rather. a lot of people including myself, to be quite monnest with you, a great economy is better that than the fed having to cut rates. nevertheless president trump says he is paying interest for our economy is a lot more than what president obama paid. >> when obama, president obama was here he paid close to zero interest rates. i'm paying real interest. yet our economy is much better than it has ever been. from election day we're over 50% increase. [inaudible] charles: bring in scott martin, cio of kingsview asset
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management, fbn contributor, along with todd horowitz ceo of bubba trading. what do you make of today's market and reaction. >> not really surprised charles. the market has to figure out what it wants. a good economy, sustain itself, economic growth, wage growth or an economy that needs fed rate cuts to keep going? the former is what i would previous. that is it what we all want. if we got those things i mentioned we would see real inflation, we would see real wage growth instead of things having to be propped up here. the fact we had a nazi reaction this morning but market got its stuff together at the lows, seems a more constructive outlook it is taking now. charles: todd, on that point, the fed is grappleing they're openly grappling with the unable to get inflation higher towards their target. on may 1st, chairman powell suggested it was transitory,
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temporary. we see it's a real issue for them. maybe that is the real reason they want to cut rates? >> maybe, charles, they don't know what they're doing, and maybe that is why they cut rates. is there not inflation? i understand we don't count food and energy but i know my bills go up every month. my payments go up every month. i don't understand where the lack of overall inflation. i think lack of intelligence from federal reserve that we're worried about cutting rates instead of letting the free market decide what rates are. rates could be much higher, i understand where president trump is coming from, rates could be higher and we could still see some growth in this economy. what we're seeing is 1% that really are the benefactors of the low interest rates. average guy on the street gets no benefit when interest rates are this low because banks won't lend them money anyways. >> to that point though, scott, around the world, you have actually in some places where they are negative rates. so in a global economy, when we
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do have a central bank, listen, i'm with todd in the sense i don't think we should have it, but we have them, we are competing on a global stage, our rates may feel low but they're higher than the countries we compete against. the peoples bank of china which is printing money left and right to keep that economy afloat. doesn't that also push the fed's hand? >> yeah. i think todd mentioned it. you want to look at open market rates, charles. something is not weird. something is not right. look at the fed funds target rate 2 1/2% equal to the 30 year government bond 2018, higher than the 10-year note even with today's move at 2.05% on government paper, something is wrong. something is off. something is screwed up. while todd is right i agree open market rates should be foretelling what the fed should do, or left to their own devices. the problem i think the fed is too involved where those rates are or at least too involved in say the commentary that you guys
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talked about they put out that has been so contradictty in the last six months they probably have to cut rates in july. the fed funds futures market, charles, even after today's move in the economic data front says they will cut rates by july 31st. charles: i'm sorry i didn't get a chance to get to markets. congratulations, scott. great call on gold. great place to hide out. >> until today. charles: all good things must come to an end. >> see ya. charles: by the way, powerful aftershocks hitting southern california this morning just a day after the region was hit by a 6.4-magnitude earthquake. now that is the strongest to hit that area in 20 years. jeff paul is live in ridgecrest with more. jeff? reporter: yeah, we are here in a department store in ridgecrest and this is a tile from the ceiling that fell during this earthquake. you can see it is dangling by a cord from a surveillance camera. all of this, this if i haves you an idea how powerful this
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magnitude 6.4 earthquake was, coming from the ceiling above during the shaking or shortly after due to a water main break. elsewhere in town, we're hearing about fires and hearing about damages at a mobile home park. so far the only reports of injuries we're hearing about are minor and no reports of any fatalities. we caught up with the police chief a little while ago, he told us judging the damages he feels very fortunate. >> the damage could have been a whole lot worse. we didn't have any casualties which was amazing. minor injuries. and we did i, we dodged a bullet. somebody was looking out for us yesterday. reporter: the concern moving forward now are the aftershocks. we felt several through the night, throughout the mornings. the most powerful one happening, a 5.4-magnitude earthquake happening a little earlier today, actually very early this morning, just after 4:00 a.m. seismologists predict there could be more throughout the
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coming days. charles? charles: jeff, thank you very much. scary situation out there. the leaked designs for apple's iphone on internet have a collective, wah wah. i think i did that right. i don't think apple will be happy about it. stick with us, we'll find out how bad it is. we'll be right back.
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charles: details of the next iphone are leaking out. in a "forbes" article, popular phone-maker ghost tech, knows the i-11 popular design but taking preorders for customers. the case images show off the iphone 11 design from every single angle. ii want to bring in loop venture's, gene munster. so far, gene, people are not that impressed what they're seeing? >> charles, let me take a step back this reaction is representative of a larger issue around the apple story. i think at the core of it is it is hard to satisfy the popular i guess online media, crowd source
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media. it misses significance of what is going on. i want to quickly walk through what is expected from the iphone 11. there will be likely three phones. the significant difference they add a third camera to the back. currently most advanced iphone has a two cameras. a third camera makes more rich images, one of the selling points on a phone. they're looking adding potentially a thumbprint reader through the scream, that will streamline getting into your phone. lastly a new way to charge the phone through the usb c connector which is faster. i understand why people say this is not enough, but the core of this the part that gets missed, you have to think about apple in terms of every couple years. this cycle coming up will be relatively modest in terms of raw features. when you fast forward to next
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year, 5g, that will be a significant up grade. when we put it together, shares of apple, represent up side of any large cap stock. charles: that is good to know. i find heels of criticism of jony ives leaving, not controversial with tim cook, pretty up in arms the way its reporting in the media. people say they're losing that whiz bang, sort of pizazz they always kind of possessed? >> it is played, that kind of theme plagued apple since steve jobs' death. if you look back what they accomplished, specifically on wearables over last few years, represented that pizazz is still there. it is important to note too, the type of avenues they're looking to continue that, around innovation, particularly around health care, around automotive, future of autonomy, mobility.
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recent acquisition as you know about last week in that area, about mobility. neil: right. >> so i think that pizazz is definitely alive. i think that investors will be rewarded for their patience. charles: one of my oldest personal holdings. i forgot the when i bought the stock i have owned it so long. i want to ask you, gene, samsung warn about second quarter profits, likely cut in half or a little more from last year. what went wrong here, what are the broader implications? >> two things went wrong. what happened with huawei, it has negative impact on the memory business. one reason the stock traded off early in the year, what happened realed to china, specifically. apple is customer of samsung. so is huawei. it had negative impact on the memory business. you have the results from samsung. it is some ways rear looking. the most significant piece here is that there are ebbs and flows
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in these cycles and the features. samsung will also be a beneficiary from this 5g. it gets a lot of hype. it is hard to conceptualize that i think this 5g theme will ultimately live up to its hype, benefit companies like apple and samsung alike. charles: gene munster, always appreciate your expertise. thanks for walking us through that. >> thank you. >> joe buyen trying to play cleanup after the disappointing showing at the first democratic debate. what about the defense that he wasn't better prepared for senator kamala harris, did her attack really help the situation? our political panel will weigh in on this next. ♪ my insurance rates are probably gonna double. but dad, you've got allstate. with accident forgiveness they guarantee your rates won't go up
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did you see the questions about your past positions from the perspective of race being as relevant as they are? >> no, and i don't think they're relevant because they're taken out of context. i get all this information about other people's past and what they've done and not done, and you know, i'm just not going to go there. if we keep doing that, i mean, what we should debate is what we do from here. charles: joe biden, something on the defense this morning. listen, he's trying to shift the 2020 narrative away from his
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race record and other things in the past, but he's been slipping in the polls following that blistering attack from kamala harris at the last debate. so is joe biden right? is it time to sort of move along on race relations and let's just focus on the future? here to debate, independent womens forum senior analyst and democratic strategist. david, what are your thoughts? on one side you have progressives going back and saying betsy ross's flag was tantamount to the stars and bars and biden saying don't worry about my past, let's look at the future. >> the reason we are still talking about this is because what senator harris was able to do during the debate was pierce the veil and reach the vice president and force him to engage her on her terms, something that if you consider the stage of so many candidates was a pretty impressive feat. now the vp is in a position where he's still having to play defense to senator harris's offense. that's obviously to her benefit as someone who has now vaulted to second place in the recent
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poll in iowa so i think for the vice president, what he has to do now is really be able to turn the page and offer a prospective look, a vision for the future. that's not something we heard from him in the debate. kamala harris really using the discussion about busing as a proxy for whether or not the vice president is out of touch with the party where it is today. i think this will obviously play out over a number of weeks and months. we are a very long way away from the iowa caucus. as you saw from the vp's fund-raising numbers, they are strong, second only to pete buttigieg. senator harris is still trailing significantly there. yeah, it was a good win for her in terms of the debate but now let's see how she converts that into actual momentum heading into iowa, new hampshire, et cetera. charles: one of the issues, one of the problems i think for joe biden specifically is that he talks about race all the time. he makes really incendiary comments, once not long ago at the naacp event, he said that republicans, republicans, all republicans, the gop wants to
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put y'all back in chains. he blames donald trump for almost every racist incident that's happened in this country even before trump was president. he has relied so much on racist animosity and stoking those flames, but he doesn't seem like he can take the heat himself. >> yeah, that's the irony, charles. let's remember how joe biden launched his presidential campaign. he didn't talk about the working man, the middle class. he didn't reach out to those blue collar workers you would have expected him to reach out to. he started with the contrast, race related, going harkening back to charlottesville and he was going to be the great uniter. i don't know if anyone told him but he's not who his former boss is. i think he relied quite a bit on that relationship being president obama's right hand man as kind of his black street cred and so i think that puts him at a great disadvantage, so when he starts to come out, you know, honestly whining he's being targeted unfairly, he's brought it on himself. i think his contenders recognize
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that his track record is an achilles heel and they are going for it. charles: by the same token, since kamala harris has catapulted to your point, she's under some scrutiny and one of them seems to be constant changing of positions on key issues. it's hard to pin her down on some of these things. >> well, let me stipulate that i don't have a candidate in this race yet. i just want a democrat to beat the president. this is a tough spot for me here. but look, you are raising an interesting point. i will even take a step further here. i think one of the critiques of senator harris's campaign to date has been that she hasn't really found her voice in the same way that perhaps senator warren has. when you listen to senator warren talk about her policy positions, she's rooting them in the experience of her life and so it's an incredibly authentic and compelling way in which she's presenting ideas. what i think senator harris did so effectively during the debate when she did talk about busing and referred to herself as that little girl on the bus, she was able to really bring that into a context where people listening were moved because it was her personal experience.
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so whether or not she's evolving positions and by the way, i think every candidate running for president evolves positions, i think what you saw, why it was so effective is because she was able to situate that moment in her personal experience. >> but the problem with senator harris is that she doesn't just evolve on her decisions, it's that you can't peg her down. i think she says what -- just enough to sound like she's with one crowd, maybe with the woke crowd today, and then something else on another issue. this week, her stance on busing and segregation has seemed to have changed a couple different times. i think to your point that she doesn't know who she is, i think she knows exactly who she is. i think she thinks she's going to be the one to go up against donald trump because apparently this is the year of the woman and the year of the black vote. and i don't think that that's going to be enough. the black vote finally is up for grabs. i'm pleased to see that. i think black folks shouldn't just be looking at the democratic side of the ticket. they should be looking at the republican side of the election ballot when the time comes. charles: you're right, the year of the women, i think it's a
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vote -- i'm sore. i keep getting the magazine wrong. everyone will see the pictures. they're famous. it is the year of the woman, maybe. speaking of which, kristina partsinevelos in for liz claman. over to you. kristina: i love that, year of the woman. did you have a good july 4th? charles: fantastic. it was absolutely amazing. we had a fish fry, we had the grill, we had young people, old people, it was phenomenal. kristina: great. i'm assuming you will go join the family again today. charles: absolutely. thank you. kristina: have a good day. thanks, charles. wednesday's records getting clouded over. stocks fighting their way back from an ugly morning. the dow and s&p in the red but near session highs, despite blockbuster jobs numbers dimming hopes of fed chair jerome powell and company making a big move to the downside on rates. our floor show traders are standing by with their rate cut reality checks. and alexa, siri and now

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