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tv   Making Money With Charles Payne  FOX Business  July 11, 2019 2:00pm-3:00pm EDT

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"after the bell" today, 4:00 p.m. eastern time be sure to join us, see if the dow can stay above 27,000. we were up, charles payne, 200 plus. now 150. a round number for what it is worth. over to you. charles: i will get it back, my man. thanks a lot. good afternoon, everyone, i'm charles payne. this is "making money." yes the dow crossing that historic 27,000 mark for the first time today. nasdaq struggling a little bit. they want to make a second straight record close there. coming up why investors should ignore the naysayers. i think you can chase the rally. i will explain it. president trump is about to host conservatives at the white house to call out alleged bias from big tech. fox favorite deneen borelli says facebook censorship destroyed her video career. she refuses to be silent by mark zuckerberg. she will share her story with us. border officials are planning to carry out
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deportation raids early sunday. we'll hear from top immigration official ken cuccinelli. why he is demanding congress must do something about the border crisis before they head off for summer vacation. we have a huge show and so much more on "making money." ♪ president trump set to take matters into his own hands with respect to the 2020 census, announcing just moments ago he will use executive powers in his quest to add the question, citizenship question. the move already drawing criticism. blake burman at the white house with more. blake. reporter: charles, trying to figure out exactly what the executive actions will be from the president as it relates to trying to get the citizenship question on to the 2020 census. as of yet the white house still hasn't laid out any details ahead of this likely 5:00 announcement later today. we're being told that attorney general bill barr will be by the
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president's side, at least at the event when the president lace it all out. here is where things stand at this very moment. right now the census is being printed. the supreme court kicked the administration's case to a lower court couple weeks ago. the trump has been trying to get that censorship question, the citizenship question on to the census. it remains unclear if he will try to go the route via executive action this afternoon. already ahead of this the aclu is threatening legal action if the president were to go down that route. democrats say whatever path the president goes down it won't hold up in court. >> we're printing the forms. we fully expect the census to go forward. the president's effort to put the citizens question, citizenship question on the census will continue to be challenged challenged in the supreme court. the supreme court destroyed the president's that the question
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needs to put on there because of voting rights act. reporter: president will host a media gathering. he quote, tremendous bias, dishonestty, censorship practiced by certain companies. when he talks about social media, the two biggest players in the space are facebook and twitter. we are led to believe they will not be part of this event this afternoon. when i reached out to both companies earlier today they both did not have any sort of comment. charles? charles: blake, thank you very much. while the president's claims social media bias are mostly unsubstantiated. our next guest says it is happening before her eyes. we're talking about fox news contributor deneen borelli who joins us right now. you put out powerful video, a time when your videos garnering
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a million views. it has cost you part of your livelihood, part of your message. explain it to your audience. >> thanks so much for highlighting this important issue going on with this war against conservatives an against conservative voices charles. here is the deal, video through blaze tv depended on advertising revenue. following my speech at this year's cpac convention i noticed numbers plummeted significantly. there is evidence that facebook has changed their algorithms. i was a main target of them trying to silence and stifle my voice. i had people who have been contacting me saying i can't find your videos. are you still out there? i have no idea where to look for you. facebook, definitely put their boot on my vote to, stifle my voice, stifle my message. what they can't have is black female conservative calling out
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democrat with their propaganda and lies especially when my message was resonating for americans and those in the black community. charles: did you reach out to facebook? if so, what happened? >> so i did not personally reach out to facebook. i believe some individuals within my previous organization of employment had contact with them. but there are people who are writing about this, looking into it. and charles, i got to tell you, this is really concerning, and i'm very blood to know that the president has this on the agenda today. folks are watching. folks are frustrating. i lost my job over this. there are a lot of people who have been demonetized. they also had to seek other employment because they were relying on facebook to put their message out there, they too have been targeted. charles: in articles leading up to today's event at the white house they have taken different tones. one from cnn says that trump
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invites right-wing extremists to the white house. does this kind of creating this narrative that everyone that is being punished so to speak, who is at the white house today are extremists that they're promoting hate, what do you say to that? >> well, it is typical. what would you expect from these, progressive outlets who want to demonize anything conservatives say or do and this is part of the problem we're seeing with these social media platforms. they have the power, they have the money, they have the influence. they are essentially a monopoly. they are suppressing and silencing the voices of conservative americans around the country. charles: right. deneen, i had, i was at a dinner with jack dorsey, then i had a one-on-one lunch with him last year. he says no "shadow banning" but acknowledges they're something they're doing to hurt conservatives, probably has something to do with the fact they only hire progressives.
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he says he is trying to find a solutions. you talked them them being a monopoly. many said they are publishers. should be treated as such. i know you're not a big government person but how much attention needs to protect first amendment rights and free speech of conservatives? >> this is what it really comes down to, charles, sawed it perfectly, i'm not a big proponent of it. however this is monopoly. what else does government do when there is a monopoly. facebook also owns instagram. they have the power and control over our voices with their predator tactics. so clearly something needs to be addressed. don't forget, the upcoming 2020 presidential election, my goodness, who knows what lengths they will go to stifle voices and messages coming from conservatives and also from the president. charles: deneen, i can tell you you're extraordinarily popular with the fox audience, conservatives. this is so heartbreaking to see
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this happen to you. you were rocking, you were killing it. it is just amazing this can happen in front of everyone, you can lose part of your livelihood because of something like this. thank you for sharing your story with us. we'll watch the summit. we'll come back to you for more later. >> thanks very much, charles. >> meanwhile, folks stocks are riding big waves. dow jones industrial average over now a new nile stone of 27,000. as federal reserve chairman jerome powell testified before congress. today it was the senate's hill. edward lawrence is on capitol hill. edward. reporter: he went as close as he could saying there will be a rate cut without saying there will be a rate cut. he was testifying befores banking committee. slowdown is seeping into the economic data through the manufacturing data. he said the fed will undershoot target on inflation.
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powell is learning that neutral rate might be lower than they thought it was. also their monetary policy might not be come accommodating as they thought it was. federal reserve chairman says part of the issue centers around trade, particularly the on and off talks with china. >> the trade negotiations that have been going on injected uncertainty for those businesses into their supply chains of the many of them moved their supply chains. some moved them to mexico, then found that mexico might be the target of tariffs. reporter: senators also very concerned about facebook creating its own currency. those implications related to that. the federal reserve chairman says their privacy standards for customers only applies to banks. he said they do not govern facebook. he says he has a series of concerns about the plan for their cryptocurrency libra. >> libra raises a lot of serious concerns. those would include around privacy, money laundering,
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consumer protection, financial stability, and those are going to be need to be thoroughly, publicly assessed and evaluated before this proceeds. reporter: the federal reserve says they have an internal team looking at this cryptocurrency. the federal reserve chairman said they had a meeting last month with facebook about it. if they plan to roll this out in 12 months or so, that is not likely to happen because the implications and the government agencies that need to look into this. charles? charles: amazing libra became the hottest topic about both days of testimony. edward thanks very much. reporter: thanks. charles: after getting a scolding from nancy pelosi, congresswoman alexandria ocasio-cortez defiant i accuses the speaker of quote, singling out newly-elected women of color. more on this escalating feud. border officials are planning to carry out deportation raids across 10 mailing juror cities starting this sunday. top immigration official ken cuccinelli joins me on his
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charles: acting director of citizenship immigration services ken cuccinelli confirms the i.c.e. raids president trump has been discussing are absolutely going to happen. he says one million people living in this country with deportation orders. he joins me to explain how the removal process will work. ken, thanks so much for joining us. the media is going apoplectic about this, the left is going apoplectic about this. last week you were shocked anyone would be surprised that a law enforcement agency would be enforced the law. >> i'm still shocked by that. it never seeses to amaze me. certain people are going apoplectic the prospect that may happen any moment. from i.c.e.'s perspective perspective, they're a law enforcement organization, the men and women are committed to fulfilling their job which is their mission. unfortunate we've reached a point them going about their
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business, which includes deporting those who have gone through due process, got a removal order, not obeyed it, which there are about a million people in this country, that they should act on that as somehow news, as opposed to their daily business. tells you a little bit how far we've fallen in this area. charles: right. we know this is, there are some high-stakes political risk here. there will be a lot of cameras a lot of footage, a lot of cell phone stuff. kevin mcaleenan, who was the acting secretary of homeland defense actually pushed back against these raids saying that he was concerned undocumented parents could be separated from their children. what that would mean politically. are you concerned about that as well? >> well look, what we're talking about here is enforcing the law. if this were a round-up an ordinary crime, first of all you wouldn't have a million people violating the court order. second of all, you wouldn't have
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the kind of sympathy generated here. the whole ad men station's intent is to keep families together. for those that have gone through due process, and had removal orders they are going to be attempted to be kept together while being repayry traded to their open -- repatriated to their home countries. they have had their day in court. that is long arduous process. they get more due process than in my perspective than ordinary criminal case does, in terms of bites at the apple. charles: it will be priority to keep families together, to keep parent with their children? >> the president has said that for some time now. i'm not going to speak to how i.c.e. is going to execute its mission. charles: sure. >> but you have heard this across the administration. and i have no reason to expect that priority to change. at the same time, the law has to be enforced. if there is no consequence to coming here illegally, it
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becomes one more attraction for more people to add to the crisis at the border. charles: right. by the same token, once people do get here illegally there are a lot of ways they can stay. i want to direct your attention, the audience's attention, comments speaker nancy pelosi made just about an hour ago. >> an i.c.e. deportation warrant is not the same as a search warrant. if that is the only document i.c.e. brings to a home raid, agents do not have the legal right to enter a home. if i.c.e. agents don't have a warrant signed by a judge, a person may refuse to open the door and let them in. an administrative order of removal from i.c.e. or immigration authorities is simply not enough. families belong together. everyone in our country has rights. charles: ken, two things. is that correct what she says? are you concerned that some of
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these illegal immigrants will try to become lawyers in the face of these efforts? >> well look nancy pelosi isn't the first congressional representative to try to urge people who are here illegally to continue to evade our law and our law enforcement and to game the process. as the person in charge of the agency responsible for asylum for instance, we have a very generous, as a nation, a very generous approach to asylum. we have enormous number of people coming toking to the bordering, lying about their circumstance, fraudulently claiming asylum when they don't have a prayer making a asylum case. what they are really economic migrant and we have a process for those people coming in. we naturalized more citizens last year, over 3/4 of a million over the last five years.
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i expect we'll have bigger number. that path is open to those who obey our law. those who break the law need to be held accountable, includes being removed back to their home countries. charles: ken cuccinelli, thank you very much. >> good to be with you. charles: the dow crossed 27,000, a moment ago kind of crept back below there. nevertheless it has been a pretty good week for the markets and i think it can continue. we'll discuss with a couple experts why investors should not be afraid of chase this market because trying to buy the bottom has always been a huge mistake. we'll be right back. ♪ is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward.
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across there earlier today. yesterday nasdaq finished at all-time high. immediately i got to tell you the talk is about selling immediate not chasing. here is the problem with it. actually two big reasons. today's all-time high could be a foundation for major move higher. the notion that people will wait to buy the bottom? face it, you will not buy a big dip, it is folly. if we have a big dip, you will be afraid. last time nasdaq breaking through a triple top what we're doing now, there were calls not to chase it. if you did you would be pretty happy. january 2012. not stalwarts of nasdaq you would be up a lot more 59%. investors should look for stocks to own for the next leg higher. i want to discuss this with david dietze, money map chief investment strategist keith
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fitz-gerald. let me start with you. i want to give you both props. throughout the volatility, big swoon in may, you were two voices saying be cool, don't panic, be cool, don't panic. investors need that from time to time. keith? >> thank you very much for that call-out. it is tough. it is scary. i feel the angst too, emotions are strong but here's the thing, the market wants to create capital. it want to "make your money work" hard for you. the trick most investors have letting market do that. apple was cheap once. google was cheap once. amazon was cheap once. they all had new highs yesterday and day before and day before that. over time it is about risk management, having the nerve to stay in to win. charles: so many things influence the stock market, particularly emotional point of view, speculations headlines, what may happen. less and less focus on day-to-day basis on fundamentals like there used to be.
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>> that is a great point. there is a lot of distractions out there. these companies going out there in the marketplace and making money. proctor & gamble selling toothpaste and soap, each day making a profit on those. that accumulates and compound overtime. the worst things investors can do look at stocks like pieces of paper and not realize there are fundamental companies underneath. charles: we get up and brush our teeth, get up with a bowl of from the loops, bowl of cereal, general mills occasionally may be up 30% in six months. keith, what are some names you're looking at? forget about near-term volatility what the fed may do, that two or three-year from now coulding significantly higher? >> i think you have to look at the big players. there it is fairly short easy to determine list. they are changing the life, the world we live in. amazon is still undervalued, apple is still undervalued, google is still undervalued. forget about the french tax and calls to break them up.
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to david's point, they sell things. add a line of code they make a billion dollars. boeing is attractive to me because 60% of the business not dependent on the max jet, for example. charles: david, how would you advise an individual in this market or thinking about getting in? what would give them some comfort? >> there is a couple ways to play it. one is classic dividend-paying stocks. proctor & gamble example they're yielding 2.7% that dividend increased five and 15% per year for the last 25 years. take that versus 2% treasury, where will you be 10 years from now? another great example, small caps are down 9% year-over-year, even though large caps reflected by s&p are up 9%. this is biggest cap ever. charles: why are small caps down? what is the best instruments to get exposure there? >> i like etfs. russell 2000 etf. small cap etf you're simple and
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diversified. ultimately i think they will reflect the strength of u.s. economy. charles: the gap, how did that happen? not sure? >> i think there is a lot of money coming in from overseas. they're hitting the 10-year treasury. they're hitting the s&p 500, that is where the momentum is, that is what they know. that is the opportunity for down in the trenches stock-pickers, small cap devotees to take advantage of the disparity. charles: keith, when these markets, major indices make new highs, they break out to new highs, when is the point you feel like they consolidated there, they built a foundation, then maybe prepared for the next leg higher? >> well i think we're doing that now. one of the things that people don't understand at the retail level is that the market needs a period of digestion. traders understand that. it runs up higher, wants to relax. why you see this give-and-take. what i look for is very simple. i look for headlines, i look for people calling for doom and gloom but at the same time i look at highs on well-known,
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unstoppable companies because that tells me momentum is still there money never lies, charles, if you follow it, look for chances to buy the great companies on sale, not the bottom, mind you, simply look, use your judgment, you know that these things are going to go there. they will not be out of business in 10 years. charles: no, i tell people a lot of these companies they're afraid to buy, i hate to say it the companies will be around when we pass away. many of the biggest winners this year have been in business for 150 years. they are not always the high-flyers. keith, david, your fantastic. thank you very much. >> thank you, charles. charles: big names are bag at two-day sun valley allen media conference. jackie deangelis is there with the latest. jackie. reporter: good afternoon, charles. i want to give you a bird's-eye view what is happening on the ground in sun valley. when i got here on monday night, at the airport, 400 private
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planes would be coming in here. they can't all land at once. schedule had to be staggered. that is how much wealth is coming into the small area to have important conversations over the course of the next two days in this relaxed environment which i think is so interesting. last night we were walking in a courtyard private during the day, protected by security opened up later. who we saw, we saw softbank at one table. brian grazer at one table. david zaslav holding court at another table. all dressed relaxed and holding court. you think about the brain power, what kind of conversations these people must be having while they're here. actually john malone, who is obviously very smart himself, he said talking to these other folks in the industry, it makes him think of things he never thought of before. this is really sort of a mecca for deal-making. so many people are looking for shari redstone. we saw her a couple of times.
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she is scurrying, like this little pint of energy. she had a backpack on. i am thinking where is she going walking so fast? what is in the bag, sherry. we try to stop them. they don't always love to chat with us. i saw michael bloomberg, michael dell, ron meyer, were talking within 10 felt of each other in front after coffee shop going into some of the power sessions. this is where deal-making is happening. where conversations that seal the future are happening t has been a phenomenal experience to see it all in this picturesque setting. >> yaki, got to tell you, we know it is always a news making event, particularly with the things happening but that picturesque set something making me pretty jealous as well. reporter: fair enough. you should be. this is a good one. charles: they're always making news out there. this won't be any different. thanks, jackie. reporter: thanks.
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charles: amazon is pledging hundreds of millions of dollars fight automation from taking their workers jobs. this is huge news. speaker nancy pelosi facing a full progressive resole in her party. what the house speaker says after aoc accused her of outright disrespectful to new congresswoman of color. ♪ truecar is great for finding new cars.
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charles: welcome back. stocks generally higher. the dow in record territory after another day of testimony where fed chair jerome powell signaled a rate cut is imminent. bitcoin extenning losses today, thanks to powell's testimony when he called for a halt to facebook's cryptocurrency project. >> libra raises a lot of serious concerns. those would include around
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privacy, money laundering, financial security. those will need to be publicly evaluated before they proceed. charles: dealt a airlines rising after reporting a second quarter profits jump. it was 39%. they benefited from the grounding of boeing max jets at rivals. there was good news there. dow jones transportation session having big session up 1.6%. house speaker nancy pelosi says she has nothing but respect for all members of their party and unity is power. >> what i said in the caucus yesterday, got overwhelming response from my members because they know what the facts are and when we are responding to to. we respect the value of every member of our caucus. the diversity of it all is a wonderful thing. diversity is our strength, unity is our power. charles: this comes amid a seeming civil war in the democratic party with aoc
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accusing pelosi singling out her and her squad because they're women of color. joining me editor in chief for "the daily caller" chris bedford and democratic strategist, kristen hawn. i obviously have to start with you. nancy pelosi talking about the blue dog democrats and the new democrats, two entities of more conservative-minded democrats who by the way, number well over 100, saying that they're not racist when she comes to their defense. are you surprised how ugly this is getting? >> i mean honestly no. i used to work for the blue dogs. i take this personally on the hill. i think it's a little bit after misnomer to call it a civil war because it is not the progressive caucus against the moderates. they make up half the caucus. it is aoc, not just aoc, her chief of staff. read a second part of tweet he deleted. he seem hell-bent do to black
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and brown people what the old democrats did in the '40s. terry sewell represents selma, alabama, blue dog staff responded to today, it is highly inappropriate. it is disrespectful of your colleagues. it is this one small group of people that can't seem to understand that to legislate you have to work with your fellow members who may not always agree with you. aoc, my way or the highway, everybody else is backward looking. that is just not the truth. charles: you know, chris, at this point the squad as they call themselves, you could say nancy pelosi probably made a big mistake. she had a lot of opportunities with other incidents where she really didn't step up to the plate. there were times it was pretty clear they were offensive to people, religions and, she kind of looked the other way, she had their back, few times she tried to take the issues, turn them into trump issues. it seemed like only emboldened them even further. >> that is the problem she is
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having right now. she tried to play nice. she is perfectly capable of not playing nice. as you can see, she tried to do a lot of things behind the scenes, including alexandria ocasio-cortez a seat on the global warming committee. now when all else failed, she continued to come under attack from these congresswoman on twitter, very publicly, i feel like she needed to respond but there is something more to what is going on here than just a couple of congresswoman. there is also a lot of money groups are starting to back this, activist groups, dreamer groups, black lives matter groups, a lot of groups invited into the coalition by the last president very good holding these things together. the new democratic leadership doesn't have president obama's charisma. can't hold it together. they're all under the tent. more than just four congresswoman. this is a big danger to democrats. charles: kristin, where does this go from here? >> you have the majority of the caucus, this was a long time coming with her, there are outside groups emerged, justice
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democrats not doing us any favors, i do understand it is more than just one person i do think, these are members who are talking now. they have spoken out and, the majority of the caucus actually has come together behind the speaker. i actually know for a fact there are many members who don't frequent the democratic caucus meetings which are known sometimes for just having the farther left members of the caucus there, who made a point to go to caucus yesterday morning to support her, her defending all members of the democratic caucus. i think there is healing that needs to happen. if we don't, it is not going to end well. charles: no real olive branches right now. more fisticuffs than anything else. chris, kristin, thank you both very much. >> thank you. >> the dow holding above the 27,000 mark. just a moment ago, the s&p went back into the green. intraday volatility has been intriguing. buyers emerging to buy weakness early today. president trump meanwhile touting the incredible results from right to try.
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after the break we will hear from one remarkable woman who is no longer dying from cancer but living with it, and it is all because of right to try. i like to recommend biotene. it replenishes the moisture in your mouth. biotene definitely works. [heartbeat]
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charles: the dow is holding up above 27,000. another big moment for the dow. the s&p has turned around as well. meanwhile the trump administration dropping a proposal to eliminate prescription drug rebates to medical middlemen. this had been a key component of president trump's plan to lower costs. this comes a day after enacting a new kidney program which encourages more donors. my next guest directly benefited from president trump's right to try initiative. i want to bring in natalie harp. quickly for the audience don't know your remarkable story. can you share that with us? >> thank you, charles. great to be with you today. i was victim of a medical error several years ago. what happened in the health care system is similar what happened with the va what obamacare did to it. what it was insured patients but we were insured with the care we actually needed, doctors appointment and fda approval process for medications. with president trump's signing
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yesterday, even organs were not available. you're all insured, but sitting around dying waiting for things to be approved. president trump is changing all that. >> you got an experimental drug, is that what happened? you got an experimental treatment that essentially saved your life. >> i didn't have to wait with president trump signing right to try. i was able to get experimental drug now. i'm walking. i'm not dying from any cancer anymore. it is a really a miracle, it definitely is, charles, the odds were against me. you start getting worried when people are citing odds. i can defy odds. i think you can too. the right to try did that. even some people waiting and dying on donor lists for so long, you don't have to wait anymore. we'll incentivize the industry and we'll return power to the patients. i'm thankful he is doing that. >> let's talk for a moment, natalie, apparently every year 100,000 people on waiting list for a kidney.
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only 20,000 get a new kidney. reimburse living donors for child care. making incentive for in-home treatment as opposed to going to a dialysis center which can be very expensive, obviously inconvenient. these moves alone are being cheered by people who desperately need these organs, right? >> it is so true. even with ed henry this week talking about everything, it is like you realize how this really impacting entire families. the costs, waiting, when it would be cheaper as president trump said to get an organ transplant now and then people could actually have a quality of life instead of not even able to as many hours as they can because they have to go into the centers. to bring them back to home is exactly what needs to happen. charles: right. >> to have health care you need at home. you can get better, work, live a good quality of life. charles: natalie, i want to ask,
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yesterday, there was a court that pushed back against the administration forcing drug companies to reveal certain prices. today the administration pulled the plug on trying to get the rebate so that the consumer can save money. obviously this is a daunting task. we're talking about big pharma, multibillions dollars. they want to protect these prices. >> right. charles: i have only a minute ago, are you confident president trump will find a way to get these prices down? >> yes. you look at it, the big pharma has been lobbying congress for decades, billions of dollars. this is the first time we actually had a representative who doesn't respond to the power of purse. he wants to return power to the people. so i'm confident he is definitely going to find a way around this. obviously it will be a fight. even with right to try, it took 45 years. he was able to do it. he find as creative way, his business approach to it, very entrepreneurial it has never
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been done before. i appreciate he keeps fighting. he never takes no for an answer. that is what patients need. charles: natalie, my wife is recipient of a heart transplant. she was going to die at any moment, at any moment she was going to die. it's a god send. the kidney stuff, we love that, what is happening to you. why not make america healthy and hopeful again? >> absolutely. >> natalie, wonderful story. thank you very much. >> thank you so much, charles. great to be with you. charles: the growing threat of automation and new technology putting amazon on the defense. how the tech giant is helping police keep their jobs. we recently fought two icons who fought against conventional wisdom, lee eye coca, ross perot. i will go in depth why these two men's missions still matter today. ♪ your daily dashboard from fidelity.
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he said were we able to save you some money? i said absolutely and he goes i hear that quite often. - [matt] not only are people saving hundreds when they switch to the hartford, they're getting amazing benefits, like lifetime renewability. it's the hartford's promise not to drop you even if you're in an accident. - it's a great feeling and a very comfortable feeling to know that i'm not gonna get dropped. - [narrator] drivers 50 and over can save hundreds of dollars when they switch to the aarp auto insurance program from the hartford. to get your free, no obligation quote, call the hartford at the number on your screen or go to the website on your screen. - [matt] did you know that the hartford has the only national car insurance program endorsed by aarp, in fact, they've been working together for over 30 years. not an aarp member? the hartford can help you join in minutes. - i would recommend the hartford to friends, relatives, anybody. - certainly when we needed them, they were right there for us. it was pretty impressive.
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- [matt] see for yourself why 96% of customers recommend the hartford, based on their claims experience. - try the hartford, if you don't, you're missing out. - [narrator] to get your free, no obligation quote and see how much you could save, call the hartford at the number on your screen that's the number on your screen. or go to the website on your screen. the buck's got your back. charles: you know, within the span of one week america lost two icon whose fought against conventional wisdom, pushing back on popular political orthodo orthodoxy. what's remarkable is the mission and messages of iacocca and perot continue to reverberate. iacocca became a legend for saving chrysler. he borrowed millions from the u.s. government, then while he took to the air waves to ask
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american consumers to give his cars a try, and if they could find something better, buy that. he also warned the united states would lose its steel and auto industry to japan by 2000 and argued for the use of tariffs to level the playing field. chapter 28 of his best-selling autobiography was titled making america great again. ross perot started and sold two businesses for billions of dollars when $1 billion was a lot of money but he became a legend for his 1992 run for the presidency as an independent candidate. his campaign was passionate and honest. he promised to cut federal spending and the deficit, but also to raise taxes. known for his patriotism and old-school values, perot became a hero for a lot of people fed up with the political system. in fact, mr. fix-it said he would drain the swamp by taking out the trash and cleaning out the barn. both men will be missed but their legacies live on. if the nation is lucky, maybe their visions could become reality one day as well. i want to turn to another billionaire who is reshaping the business world.
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jeff bezos. amazon announcing a plan to spend about $700 million to retrain about a third of its work force. the plan is to provide workers with skills needed for new engineering and technical positions. the news helping amazon top the $1 trillion market cap again. deirdre bolton, the perfect person to help hash this out. jeff bezos is really remarkable. i think he's one of the bernie sanders of the world, the $15 minimum wage folks of the world, he's going to step further. he's saying instead of taking someone with $10 skills and giving them $15, how about giving them $15, $20, $25 skills. deirdre: you sort of feel like this is not his first trip around this universe. he sees a lot of things from a conceptual point of view and also sees a lot of things from a very practical hands-on, i'm a business owner point of view. the truth is, a lot of companies lose employees because they either feel like they have plateaued, like they can't learn any more skills or they are sort of skilled out of whatever the next iteration of their job is
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going to be and it costs companies a lot of money. he's actually looking at this from a business perspective, how do i keep more of the people i want to keep, what do they need, they need training. i think it's also a nod to how quickly technology is iterating right now. even if you and i, we go downtown, we take coding classes, we are really good in one language, to be honest, in six to eight months, that language is already going to have tweaks. we need constant, constant updating. so i think because he understands that, that's part of the reason why this plan is so powerful. he's offering things that have nothing to do with amazon. if you are a worker at amazon and you want to go take a nursing degree there, you can do that. charles: see, most businesses would be afraid of losing employees as they enhance their skills. i think that's where the issue is. we've got 7.34 million jobs out there. deirdre: we talk about this a lot, that are unfilled every single month. this is sure a great way to attack that. human psychology is so
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interesting. there has been so many studies on this. people are actually very loyal to companies that allow them to grow and improve their education. they are more loyal than companies -- to companies that don't invest in their people whatsoever. this is clever on many, many different levels. in theory, it lets amazon retain more of its work force which is cheaper for them. it makes the people who are there more motivated and also lets the people actually be more skilled. for example, they were saying people who work in the warehouses, you mentioned bernie sanders criticizing, they need to make minimum wage which they now do, but saying okay, go take some it. classes with us. charles: amazing. do you get a sensory companies may follow? because when he went to 15 he ultimately challenged walmart to follow. maybe he will do the same here. deirdre: what i think he's doing, he is seeming to want to solve what i would call societal problems and setting the tone. for example, we remember when jamie dimon, he and warren buffett, we haven't heard much,
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about a year ago said you know what, health care is too expensive, it's clunky, maybe we fix it. form a collaboration. i haven't heard much since then. charles: that's why he's a legend. deirdre: that's why the company is worth a trillion dollars. charles: the market moved during my hour. the c.p. effect came back. liz claman, i know you like that. it always moves even more recently in your hour. can't wait to see what you got going. liz: we'll see if liz claman can come through for you. thank you. as we head into the final hour, i know charles noticed this, we are starting to see some sellers sniffing around. that's putting records in jeopardy, not by too much, but perhaps more importantly, we've got twin gulf crises gaining strength at this hour. number one, tropical storm barry bearing down on the gulf of mexico, now forcing major oil and gas platforms to evacuate very quickly. this as more iranian agitation in the persian gulf could spell volatility for oil markets. we've got up to

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