No place else to get yields, everybody keeps turning to equity markets and there is no place to have the solidity or safety of equity markets the us has so the market of choice spirals ever higher. Charles here is the thing i find interesting, a lot being made of institutional money coming out of the market, tons of individual investor money coming out of the market. I dont see a lot of exuberance we are being led by utility stocks. The narrative that this is just unfortunate and Goldman Sachs to be 60 instead of 160 is why investors missed this rally. Doesnt feel like an irrational exuberance, like a safe haven. We are steering the ship of our economy and it is able to be steered. Again, we do have this eight year ongoing thing that there is no place to get yields other than the equity markets so money keeps coming added and anytime it is about to die out there is a new reason to be here. Charles last night smuckers raised their dividend. I tell people dont worry about the next hightech gadget. Peanut butter and jelly is doing well. You are getting the yield you talked about but it underscore that you cant replace Peanut Butter and jelly with the internet, cant replace baking soda with the internet. I get the idea this is by default but we underestimate how Great American companies are. The power of technology is it keeps Getting Better and better and more efficient to do business. If you have a big established market, Peanut Butter and jelly or bacon bread or distributing organic milk or something, arguably your business can get more efficient. There is some question around the corner what the next corner of corporate profits look like but we both know it is always there. Charles sometimes the irony is we are expecting bad numbers, we kick off earnings season with a good number from alcoa even though numbers were down yearoveryear expectations are rolling. Let me ask about the tereus action in this market, the bank of england not cutting rates. I think it has been despicable. The governor of the bank of england set aside three emergency programs going into the brexit vote, raising hysteria about doom and gloom, and i thought it was despicable. How about the idea of the market still going up. I thought about this a lot before coming to talk to you today about it and it seems to me the nation of uncertainty, humans when it is a big surprise have nothing to wrap their arms around and no way to process it so this brexit thing did catch the elite class hugely by surprise, didnt know how to process it so folks like carney who is running the bank of england had a difficult time knowing what to do or how to think about what to do because i dont know he ever expected he would be in the position he is in today. He gets farther down the road, watches the world not fall apart, watches us markets elevating and then says maybe i wont cut rates right now, human nature, not sure it is despicable. Charles a lot of people lost a lot of money, the two days selloff was the largest decline moneywise in the history of markets. Some people wish they were holding onto those stocks and they bear a small response ability, a little hyperbolic, really appreciate it. Developing news, i am an american, that is what we do the monsanto offer is allcash increasing 125 a share. Charlie gasparino has more details when he joins us in a moment. 24 hours, we will know who donald trump picked as his running mate but Newt Gingrich is expected to come in and if you get a call from trump as early as 1 00 pm eastern we will bring the news if we get it but first conservative commentator on Donald Trumps choices. It has been narrowed down to the final four bracket and everybody brings their own unique acid so lets talk about it beginning beyond the favor of that. He has been in the news a lot, the speeches they have given together, he is the most logical pick. Most analysts and Party Insiders looking at these final three, Chris Christie, mike pence and Newt Gingrich, he is the safest choice, he is very popular with evangelical even if he is not as popular in his home state, he balances trumps temperament, trump is a real fighter, much more midwestern, brings benefits in that way. Newt gingrich and Chris Christie are attack dogs, Newt Gingrich is a genius in parliamentary procedure, knows how to do that but also has attitude and personality and he has been open with criticism about trump and walks it back but can you have two top dog this president and the p . The most logical choice with this candidate has not always proven to be what he does. Before donald trump wants a bulldog, Chris Christie wins in that category, carrying new jersey, and in a sense that he will echo what donald trump wants to hear. What do you make of that . I think Chris Christie will be a little lower down and sessions as well because sessions is the dark horse because he was expected to endorse ted cruz and didnt and brought those early conservative evangelical kind of bona fides with foreignpolicy so im leaning toward him personally. That is a pick, a master marketer so that is the kind of pick he wanted to downplay that might surprise people at the convention so that is a possibility but he is from the south, a demographic and a region donald trump can rely on but Chris Christie, totally right, the bridgegate thing will come to trial at the time of the election and the fact he is deeply unpopular in new jersey and a new york guy running for president and the new jersey guy as Vice President , it will be a big surprise, could pull out something none of us have talked about, donald trump. Charles Ruth Bader Ginsburg backing off of comments about trump. Initially she double down saying in a statement just released a few moments ago, quote, my recent remarks in response to press inquiries were illadvised and i regret making them. Judges avoid commenting on a candidate for public office, i will be more circumspect. Sabrina, this raises a lot of questions concerning her role as a justice if there is a trump administration. Absolutely. Everyone on the left and right acknowledge she is extremely bright and has a lot to offer but in many ways unprecedented and modern justices and not the kind of thing people want to hear because she will be impartial. Charles there is a code for the way judges handle themselves, the judge should refrain political activity in general prohibitions include making speeches to candidates or endorsing or opposing a candidate for office. She knew these rules going into it and you see in that statement saying she was baited by media, they keep asking and she flipped. Is that good enough . It gives her a little bit of cover. Any of us involved in the media know it is very easy in front of the camera to accidentally Say Something you regret afterwards. On balance justices do a great job. Independent womens forum extended an invitation to a justice at one point and he had to decline because we are indirectly connected to politics you have to be extra careful so once in a while things will slip through the cracks but this should not be the end of the world for her. Char trump wins cases that come before involving his businesses or something that emanates from his administration, should she recuse herself . That is the question. Im not a legal expert but i suspect she may have to. Charles we believe it here, appreciate it. Hillary clinton says the economy gives her a boost but the gop are boosting their fight against her emails, the state department will release deleted Clinton Emails as gop lawmakers push for a perjury probe. Peter is at the center of all this. When can we expect the email drop . I have 0 expectations of the state department coming clean and releasing emails. They were absurd to the point it is hard for me to overcharacterize how passiveaggressive and insincere and lacking integrity the state department was in the benghazi investigation. Making a declaration and saying these emails i coming my expectations are on the ground. Charles midnovember or later. If ever. Charles you talk about the attitudes at the state department but you can broaden that out because one of the underlying themes that is starting to hurt president obama and candidate Hillary Clinton, standoffish and the discovery process the American Public, not about a gop witchhunt but still like more answers on benghazi and the email situation yet every time we have a situation like this they are resistant. Perfect example of this, the ways and means committee, assistant secretary of the treasury, was the author of a controversial memo, he comes before us and says he has no recollection of the key paragraph which was redacted, if you dont like the way money is spent, we cant spend money in a particular way, not only throwing up the oversight process but converting the constitution and manipulating it to points where it doesnt make sense. This is a pattern we see through the administrations conduct. Charles maybe you turn the tables and pick up on this. If james comey says it is up to the fbi director to make a constitutional interpretation of a 100yearold statute maybe it is time for congress to make things clearer for everyone involved so they cant skirt the issues anymore and the American Public doesnt have to guess what is going on behind closed doors. The example i just gave we are talking about the plain language of the constitution, the explicit language of the founders, money can only be spent on direction of congress, yet the Administration Official and assistant secretary of the treasury, in order for us to be stopped, the administration, you have to pass a law that says we cant spend money that way and he starts chasing that rabbit. Charles one Year Anniversary of the iran deal, it is a wonderful success story, what is your feeling about it . It is not a wonderful success story. It hasnt moderated irani and behavior, they took us sailors hostage, shot missiles within 1500 yards of a us vessel, the Worlds Largest state sponsor of terror, the germans came out with a report that they probably violated evidence of the nuclear deal in their pursuit of different materials and you have Companies Like boeing and others poised to sell them something, that can be used for terror. It has not been a good year for the deal, it is an example of overpromising and under delivering by the administration yet again. Charles lets talk about the crony capitalist aspect, that is why the western world is pushing back on the establishment on both sides of the atlantic, thank you very much, appreciate your time. The bank of england not moving, there is more i had. What happens when the punch bowl runs out . We will can it next. Im going to make this as simple as possible for you. You can go ahead and stick with that complicated credit card that limits where you earn bonus cash back. Or. You can get the quicksilver card from capital one. Quicksilver earns you unlimited 1. 5 cash back on every purchase, everywhere. I shouldnt have to ask. Whats in your wallet . Charles looking at life pictures of martins grilli expected to get a date for his trial. He has a lot of stuff he is working through for some sort of fraud charge. Infamous for that massive hike in drugs lose the bank of england shocking everyone leaving their rates unchanged although the 81 vote changed as a signal Connell Mcshane on this post brexit fallout which was somewhat exaggerated. What do you think . Initial reaction, some of that was manufactured by the powers that be including mark carney who set aside 3 emergency measures and after the vote kept talking doom and gloom. Brexit made the world poor. The United Kingdom is going to be worse off. Charles why do you say that . They will have less trade, less access to global markets, london is in trouble as it relates to access to the common market. Before the vote, england was the fifth largest economy. In a month they are 6 in the world, france tapped them globally. The uk story which is the reason we survive market that alltime highs, even if that is right, how the numbers came out that showed brexit is having an effect on the uk economy but many of us looked at it and said this will be disaster for the Global Economy, the world can survive without the uk being as strong as it was. I was reading the cover story that said brexit wont stop globalization, countries in asia wont stopped trading with each other because the uk left the eu. Countries in europe will not stop trading with each other. In the United States we shouldnt stop unless we have a protectionist policy but the point is it is a uk story and at the beginning we thought it was a global story. Charles if you talk about the us election there is a way that could be echoed, that this is not it will take a couple years. Let the uk get on its feet and make its own rules and regulations and these regulations regulating teakettles and sparkly economy. In other parts of the United Kingdom, and irish unification, and scotland toward the vote, and the United Kingdom may start to where the friction. Charles that is in the they got one tomorrow. If england blasts the uk, we want to take this ball and run with it. Not deal with what republicans did, and reflect what the people want. Mse period, there is a chance england could come out, uk in general charles lower taxes could help an economy or hurt and economy . It could come out okay. You can win sometimes but you can also lose. The greater question is there are more or less global trade and you think trade is good and is this a 1off situation or does this pretend there is protectionist policies, we Start Building walls, breaking down trade agreement and go back to domestic economies. In that scenario that could be okay in part of america. Charles we will debate this for a long time. The initial shock has worn off big time. Protesters wont wait until monday. There are problems that could start as early as today. We have fresh details right after this. Charles Homeland Security chief jay johnson addressing security worries, he will travel to cleveland tomorrow to personally inspect security at the are in see, much more on the protest and security worries as they come up. The trump fight goes to the gop rules committee, the latest on the last ditch effort of the never trump crowd. How is it going . It was an unusual morning. And 9 15 we were told the rules committee was starting, the printer had broken and there would be a delay until 1 00. It is the year 2016 so many were suspicious at the printer breaking being a reason why. We found out you can see one of the delegates, there was a meeting here in that meeting room among are in see activists and grassroots activists about the rules and how to proceed forward. Or four hour delay. A big question of the never trump folks can they get the 28 votes needed in order to put a report on the Convention Floor next week that would say delegates should be unbound. Donald Trumps Campaign manager walked by here a little while ago and i asked him about that and they feel confident that will not be the case. A 28 number. No worry at all. Reporter no worry at all. We spoke with john spicer, Communications Director for the are in see, they do not have the numbers either. We expect the rules committee to reconvene at 1 00. I was told the printer will be fixed by then. Charles mysterious case of the broken printer. Appreciate it. Serious fear hanging over the entire Energy Market on fears of an oil glut and what it means for the market next. [announcer] is it a force of nature . Or a sales event . The summer of audi sales event is here. Get up to a 5,000 bonus on select audi models. [woodworker] i live in the fine details. Thats why i run on quickbooks. I use the payments app to accept credit cards. And everything autosyncs. Those sales prove my sustainable designs are better for the environment and my bottom line. Thats how i own it. Charles so bear increasing its all cash offer 125 a share. Charlie gasparino has been getting all in this, been on it more than anyone else. 125 bucks, do you think that will get it done . I dont think so. Heres what i will say. Bear has been and we will first report this on fox business about two or three weeks ago that bear ceo warner has been running around to various investors saying listen, talks are still on going even though its quiet behind the scenes. We understand that theres antitrust concerns, and we are prepared to essentially to up the bid somewhat from where it is. Not too much but somewhat. Im paraphrasing. Not exactly what he said. Thats essentially what he did now. If you look at what happened. They increased their bid a little bit from 125 to 122 a share. Theres an interesting break up fee in this thing. 1. 5billion break up fee. Charles thats huge. Thats big in this thing, which involves the antitrust regulars come in and say no go. Charles is that why the stock just to jump isnt here, why the stock is trading so far below the price . Antitrust issues . Antitrust issues and still a lot of investors skepticism and analyst skepticism that actually going to hit this bid. We had one analyst who told us right when it happened saying this is such a joke, it might just end all the further talks that, you know, this isnt enough that they want to go up. They want they will to go up to 130 a share. The only problem i think monsanto has, and this is a game of chicken at this pace. Can they really make the sale to investors that the commodity the client Commodity Prices and all the sort of macroeconomic issues that have been hurting share price and earnings that thats going to change in the future so they could remain independent and share prices and stock will go up . Or do they have to hit this body now because this is about as good as its going to get. Charles right this will take you back to february 18 high and stock has been a dog since then. They predict it will go back up since which they prices change. Charles yeah, and the world is getting bigger. Thats how i get sucked into some of these agricultural losers. I want to say losers. Oh, forget about it. Podcast, yeah, i hear you. On the other side of this, lets switch gears to the vp pick. Right. Charles its all over the internet pence is the guy. But we know the answer in less than 24 hours. I reported this yes with you. Charles yeah. If you listen to the trump officials, the guys off the record, and weve been reporting this for days now they say its pence. They do. But when you push them, when you give them dollars to doughnuts, is there a possibility donald trump might change his mind . They say of course at the last minute. And so what i would say this for the viewer out there. I believe based on all my sources, theres a 99 chance hes going to pick pence. The 1 chance is that donald trump as you know is not a traditional guy, hes a little bit erratic at times, known to change his mind on a dime, and he might do that here. And theyre actually when you talk to these officials who, by the way, these arent low level officials. Im talking to people very close to him. Theyre saying 99 chance pence but you never know until it comes out of his mouth when he makes the formal announcement. But it looks like its pence and i think thats a good thing for donald trump because he gets newt and all of these other guys, fighters, and hes got a guy that understands the mechanics of government pretty well as a number two, which is what i think he needs. Charles you know, whats also interesting is his numbers are doing better in part because of hillarys self inflected wounds. Hes not doing all the tweeting, the era is having a yielding positive returns. But im hearing that the kids, though, are more partial to newt. Is that one of the things that might be making this a more grappling position . Yeah. I think the kids his soninlaw is more partial. Charles to newt. Yeah. Thats what ive heard. I heard that as well. Yeah, but i think, listen, who doesnt like Newt Gingrich . Hes a guy that you would love to go on the campaign trail with, i think donald likes hanging out with him. Charles he does. Yeah. I think hes going to get that anyway. And by showing pence, hes basically telling the Republican Base im not going to screw you, you know . Im bringing in one of your own. And i think he kind of needs that a little bit now, pence already has been attacked by the left. Theyre bringing up his support about religious liberty law and all of this other stuff. Thats how you know its probably pence. Charles im going to get more into this with you in the next half hour. In the meantime stocks hitting new highs. Oil bouncing back but fears of Oil Oversupply are weighing in on investors to cme Group Executive chairman. Heres the thing, terry. It feels like oil wants to break out and then every time it gets right on the cusp of that 52 area, some other sort of news. But overall inventories are near an alltime highs. What does move the needle . Because demand is still somewhat flaccid for lack of a better word. Well, charles, first of all, thank you for having me and i want to wish my friend neil cavuto a speedy recovery. But when we get to oil market to self, we were looks to become completely Energy Independent here in the United States by 2018 when oil was trading around 80 a barrel. Because we would be able to do the production the explorers to get that much out of the u. S. That goes to show you how much oil is actually right here. And then obviously the decrease in the price down to 26. 05 a barrel, took a lot of explorers out. But theres still a lot of people that can make money at these levels of exploration. So i do believe that glut will still be around, even at these price levels or maybe even lower. Charles although by the same token, i saw a chart earlier in the week that shows saudi production has taken off, they started this war for market share, but theyve got their own issues. The deficit last year, floating the idea of going public with their stateowned oil company. Theyre fighting a war against rebels in yemen. So theres a point where they have to blink as well. And, by the way, other members of opec saying we dont have deep pockets. Please no more. We won. Let this price float a little bit. As you clearly said charles, thats what they have is oil and we have it also and now that we have it, and we are the biggest user of that market, that product is in the United States. They have no other alternative if theyre going to continue to do the things that you mentioned. Charles i want to switch gears now to the election. Donald trump and i heard the grown. Okay . But listen, one of them will be our next president. They both have distinctly different economic plans. Who would be best for your industry and the overall economy . You know, first of all, i think whats critically important, charles, and i have said this many of times for president s throughout the time that ive been in this position is that they have good, strong people around them. And i think thats whats critically important. You need to have a cabinet advice the president and the president will take that advice for the American People. Whether thats secretary clinton or mr. Trump, i think its important they have good, smart people around them. Now, my good friend Charlie Gasparino mentioned mike pence. I think mike pence would be a great pick for donald trump. Donald trump said he needs to get a traditional politician around him. Mike pence is just that. So i think the governor is the good choice if thats the direction he goes. I think the election is going to be close. But as it relates to Financial Services, charles, i think both mr. Trump and secretary clinton understand the importance to the United States of america and what it does not only for National Security but gives us the ability to grow our country create jobs, and other things that are important to the people of america. Charles although both have been harshly critical of wall street titans and trillionaires if you will. Special tax treatment for folks on wall street, and its low hanging fruit. The easiest target out there when youre trying to win the hearts and minds of American Public. So i would assume either candidate takes some form of action to mitigate at least the influence of wall street if not economically penalize it. Well, you took the words right out of my mouth, charles. It is low hanging fruit on them and great on the campaign trail. But when push comes to shove and we look at what the Financial Services brings to the United States, i guarantee you theres other countries around the world that would relish to have the business that we have in the United States and Financial Services. Because they know what it can do for the people of their country. So, again, i know wall street has taken its lumps and maybe some of them are rightfully justified without question. But all in all when people are trying to build new hospitals, new schools, new sidewalks across america, we need someone to finance that, and thats exactly what wall street does. It helps finance the growth of america. And i think thats really important. And people need to understand that. Charles you know, i agree with you 1,000 percent, and we need somebody to articulate that. Maybe we could get someone like you to go on the road. Ill pass on your well wishes to neil. Thank you very much. Thank you very much for having me, charles. Charles see you soon. Who needs romney when you have thiebaud . Thats right trumps answer to never trump scores a touchdown. Well be right back in new york state, we believe tomorrow starts today. All across the state the economy is growing with creative new business incentives the lowest taxes in decades, and new infrastructure for a new generation attracting the talent and companies of tomorrow. Like in rochester, with worldclass botox. And in buffalo where medicine meets the future. Let us help grow your companys tomorrow today at business. Ny. Gov im billy, and i quit smoking with chantix. I decided to take chantix to shut everybody else up about me quitting smoking. I was going to give it a try but i didnt really think it was going to really happen. After one week of chantix, i knew i could quit. Along with support Chantix Varenicline is proven to help people quit smoking. Chantix definitely helped reduce my urge to smoke. Some people had changes in behavior thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. Some had seizures while taking chantix. If you have any of these stop chantix and call your doctor right away. Tell your doctor about any history of Mental Health problems, which could get worse or of seizures. Dont take chantix if youve had a serious allergic or skin reaction to it. If you have these, stop chantix and call your doctor right away as some can be lifethreatening. Tell your doctor if you have heart or blood vessel problems or develop new or worse symptoms. Get medical help right away if you have symptoms of a heart attack or stroke. Decrease alcohol use while taking chantix. Use caution when driving or operating machinery. Most common sideaffect is nausea. Being a nonsmoker feels great. Ask your doctor if chantix is right for you. Im Nicole Petallides with your fox business brief. Seeing all up arrows with the dow a record on wall street once again for the dow and s p alltime record highs. Lets take a look at lime corporation, the japanese messaging app. New initial Public Offering today here on wall street raised over a billion dollars. And the stock soared right at the open up over 30 . Still holding onto sizable gains, 27 to the upside. This tech company is the largest ipo of the year. A music streaming company, a gaming company, it does voice calls, and has revenue of over a billion dollars for the first time last year. Its going to be picking on names such as whats app and also some of the other technologies. So going to come out of advertising for this company but this is a Japanese Company that in june. But decided to push it off in a better market environment. I think we are on the edge now of a significant change in the global outlook. And its the very slow, very turgid, very persistent move from deflation to inflation. Were seeing the very early signs of a process of inflation arising. Charles that of course is former fed chief Allen Greenspan this morning with maria. Well have a lot more on whats driving this market and if it will continue. In the meantime some big gop stars may be skipping the rnc next week but a whole bunch of celebrities will be taking the stage as said Deirdre Bolton here with a list of some surprising names there huh . Indeed. So were on the clock. We are watching this the ticktock i was listening to your conversation with Charlie Gasparino about whether its going to be the indiana governor mike pence or whether its not, and for mike pence he has to file for friday whether or not hes going to file for governor or not, so thats why theres this ticking time bomb. Charles inherently case he does run. So maybe he doesnt know. Thats right. It is and recovering now in the effect. Well, donald trump could change his mind at the last minute. So were going to be here, were going to be covering this whole thing live. Lots to tell. Charles going to be very exciting. What do you think i think one name thats going to be really interesting is tim tebow. Because he doesnt come across as very political, but he has a strong following amongst evangelicals and, you know, i would suspect whatever he says, it wont be hy political in any sense or way. It wont be hyper political. But as you point out, there is this appeal. First of all, hes a superstar athlete; right . And we did see indications of his face. And this is a group that a lot of people have said, look, if donald trump can squarely appeal to that group of people, it is worth, you know, 15 to 20 of the base and tim tebow has been very open about his faith and this is one of the areas that donald trump is seeing just boosts that overall good feeling, and we know he has had very successful if you like kind of campaign with athletes we know bobby knight, the famed basketball coach. I mean there is this connection to, oh, thats whos sticking up for donald trump . Maybe i should stick up for donald trump. Charles although brady not making it. Everybody thought tom brady might be there. I want to talk about more troubles for tesla. Consumer reports calling the Company Actually calling on them to disable that autopilot feature until they can understand more about it and make sure that its safer. Stocks up, though. The stock is up. But i take a look 52 weeks because it gives that perspective we all need. And tesla stock, again, past 12 months down. A little bit more than 16 . And if you compare that to the nasdaq, which is down in the same time frame about 2. 5 with consumer reports, national Highway Traffic Safety Administration reaching out to tesla with a letter saying you need to give us more information about this autopilot feature. We dont know what we need to know and there was one fatality that you and i spoke about, a former navy seal who loved tesla, even videotaped a narrow miss crash. Now, unfortunately, he did get in another crash, which killed him, which is prompting some of this attention from the regulators. But tesla has come out and said, listen, this is new these are new days. This is new technology. At the time of the crash this 40yearold josh brown, again, tech enthusiast apparently was watching a movie. So really was hands off. Charles sure. And tesla has always said even though its autopilot these are early days. Keep your hands on the wheel. Charles maybe theyre going to have to make more of an the other thing to pound that in. Maybe a sticker. I dont know how the cars are. Theyre going to have to do something. Charles somehow labeling so people legally but also to save lives too. But elon musk, i know the stock has not done well in the last 52 weeks but over the last five years or so, it has been a monster. Any engineer isnt Silicon Valley will go work for him. Im not going to say for free, but he is considered a visionary, considered taking on these really big projects. Moving us all to mars or at least getting us there to vacation, thats just one of his ideas. Charles i like him, though. I think hes done some great things to your point. In the meantime Hillary Clinton hitting donald trump on his tax plan. His tax plan would make our Current System even worse. Independent analysts say he would add 30 trillion to the National Debt in order to give a massive gift to the wealthiest americans wall street Money Managers and our largest corporations. But after all, what else should we expect from someone who calls himself the king of debt . Charles them is fighting words. The guy whos working with trump on that plan, he responds next. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive but now is a good time to get the ball rolling. Keep in mind medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement insurance plans they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. Youve learned that taking informed steps along the way really makes a difference later. 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Go long™. Charles donald trump meeting with donors today and catching backlash over his tax plan. Hillary clinton says it will add 30 trillion to the nations debt. Steve moore has been working with donald trump on this plan. Steve, you know, Hillary Clinton following the lead i think mark zandy and others. Whats your response . I have no idea where she comes up with the 30trilliondollar number. Thats so out in the orbit. Charles i think i have 29 30, 31 ill go with 30. Yeah, exactly. Something like that. 100 years or Something Like that. Let me give you the facts because she clearly doesnt know them, and i am involved with some other economists helping finalize this tax plan. Its not finalized yesterday yeth, but i guarantee you were going to get that cost down to maybe a couple of trillion dollars over ten years. By the way, thats over the period that the federal government is going to collect 45 trillion in revenue. So you may have 45 trillion reduction in revenues but were going to pay for it by cutting spending. Something barack obama hasnt done in eight years, close loopholes and most importantly, charles, youre going to love this tax plan, charles. I promise youre going to love it. Cut the Corporate Tax rate to 15 , allow businesses in america to immediately expense their businesses, their capital purchases when its machinery or whatever it is. And the other thing youre going to like a lot is were going to stop taxing something thats produced here in the United States and sell sold abroad, and were going to start taxing things that are brought into the United States that is the imports. And thats going to change everything. Its going to improve our trade outlook, really help our Manufacturing Sector in america. Charles okay. Im with you on the cut of taxes. I think you and i are together on that. By the way, theres an article i think in money magazine something that takes you and donald trump to task maybe where hillary got these numbers from a couple of days ago. But let me just interrupt you. They dont know what theyre talking about. They dont know what the plan is. I mean we dont even we havent even finalized the plan yet. So theyre going off a few talking points that donald trump has done. Ive talked to some of these people. I said, look, hold off until you have the details. Its like declaring the new york yankees a winner in the game after the fifth inning. The game isnt over yet because we havent put it together. Charles youre talking to new yorkers. We wouldnt declare the yankees a winner in the bottom of the ninth with a tenrun lead. Okay . But donald trump, though, says hes going to be hands off on some of the big things the entitlement stuff, Social Security medicare. Yeah. Charles and hes going to double the size of the military. Using that as a base alone how can you i dont think hes going to double. But we are going to make it much more efficient. But were going to cut. Charles im a cider with you. But how do you convince people that you can generate enough economic on the side of this to mitigate those extraordinary costs . Yeah. Well, not just we are going to grow the economy. Were going to grow from 2 growth to 4 through tax reform and pro america energy. That gives you by the way that alone reduces the debt by 5 trillion because, look, when you put more people back to work, when you have companies producing things here rather than in china, guess what . That produces jobs, that produces tax revenues. But the other thing were going to do is for the first time in ten years, were going to take a really hard look at that budget, and were going to start cutting stuff we dont need. We dont need a lot of these. Were going to turn a lot of these programs back to the state. Were going to go after the corporate. All of that stuff. Youre going to love this, charles. Charles im waiting. Im waiting. My man, im waiting. But weve got to get it. Weve got to see it. Thank you very much, steve. See you charles. Charles so mike pence trumps vp choice, the buzz is out there. New developments coming in second by second. But were going to drill down so dont go anywhere. Were going to have it all for you when we come back. Dow jones industrial average, youre looking at a new record there, folks, thanks in part to j. P. Morgans earnings beat this morning and nonsurprise surprise, the bank of england did not hike rates lower rates rather, im Charles Payne in for neil cavuto. J. P. Morgan posted a better than expected beat. The big news is bank of england, the market edged higher expecting them to cut rates, they didnt. They said maybe at the next meeting. The market rally continues anyway, the big question, could this rally help the democrats headed into their convention . To Charlie Gasparino and the host of the intelligence report, trish regan, the markets are up. Thats good. Charles the last jobs report came in better than expected. Big surprise. Charles a lot of revisions going on there. This is the kind of message that Hillary Clintons going to try to get out there. You know, look, its great that the markets doing well and there are a lot of people benefitting from that, the reality is, charles, most americans arent. I say that maybe through a pension fund that they have, maybe through the 401 k , but theyre not feeling it in the way that the investing class is feeling it. Your average american is struggling with wages that havent budged in 20 years, and as much as they see the market move higher, they look at that and thats the rich getting richer and this is what were dealing with right now. Youve got a Federal Reserve that has done everything it possibly can to try and help this economy, but they dont have the proper policy coming out of washington to assist them. Consequently, yes, the market moves higher, but the fundamentals of the economy are still lousy. Charles and we have that quote virtuous cycles. But half of americans have 401 k s, and i remember talking to elected democratic officials and the market would be high, and theyd say that reflects the rich. What goes around comes around. Id be careful saying that you cant take markets being at high levels and you know, these headline numbers, even though we know that the real numbers arent very good taking that as gospel. Shes going to campaign that unemployment is something, 4. 9 , a good jobs report. I really think that for donald really to capitalize on the economy you need another kick down of something you know, coming soon. I dont think its necessarily the markets. The economy and the markets. The economy is reflecting the fact that the fed may raise rates excuse me the markets reflect that fed may raise rates, guess what . Because the economy is Getting Better. I think that helps her. And there are other issues in the campaign, her trustworthiness, whether shes credible or night. Last night smuckers raised their dividend. That doesnt hurt. Charles in pins and needles all over the internet, everyone is on board now, pence, pence, im going to say what we reported ten minutes on twitter and a few minutes before the New York Times did, we this is what we said and look at the times now, exactly what they said. Essentially, the aides are saying 99 sure its pence as the vp, however, because its donald and donald is a wild card, its always a possibility at the last minute he does a reversal. Thats what the times are reporting and what im hearing and thats what aides are telling us, unless donald does a reversal here, its going to be pence, can he do a reversal . I guess. A reversal to what . I mean, pence is the. Let me logical best point. Donald is not logic, if one thing we know. Charles until two weeks ago you could have said that, but i think that the era has begun and yielding dividends in much better polling numbers and favorability numbers and mant afor sits in the room with him follow me and were doing good keep it going. And mon manafort is saying pence. Until the words come out of his mouth or you see the press release, say its 99 sure. Charles are we overblowing how important it is . The vicepresident . No. This is donald and this campaign is all donald, be assured of that. But the vicepresident pick is important on the fringe. And the fringe matters, right . In a close election, you need every single advantage you can get and mike pence gives him that advantage. I think hes a very nice guy, which will help with donalds aggressiveness. Charles and donald trump wants a bull dog and mike pence laid it on and i dont know that hes going to feel comfortable in that role. Well, donald trump is pretty good on his own, you called him the barn yard dog. Junkyard dog, i called him that from day one. For this campaign to work for donald, talk to karl rove and my perception, hes better when theres less of him. I mean that, hes done better lately when hes back, as you said backed off the twitter and all of that stuff. And pence can take that and maybe redirect it to a different message. He can still have Chris Christie out there who i think would play a role in his administration, doing some of the attacking for him. Newt gingrich. I think that Rudy Guiliani would also play a role in the administration and Homeland Security front. These are all people that can be surrogates in terms of being the attack dogs for him. It doesnt have to be the vp. Charles just like elizabeth warrant probably wont be vp, but be the attack dog for hillary. Breaking news, charlie on the trump camp and the Trump Campaign reaching out to john kasich. The Trump Campaign wants to have a meeting with john kasich over the weekend through a last minute attempt to essentially get him to speak at the convention and maybe if they had their its worked with cruz, and now walker. Wildest dream, maybe squeeze a semi endorsement out of him. We should point out that trumps excuse me kasichs people we ran it by them, one of the pr people, said its laughable, its not happening. So it still looks like kasich the meeting. The meeting, which means speaking. I would just say this, i dont think if youre donald trump if youre a republican you can sort of, like this is not a good thing to have this sitting republican governor of the state where youre having the convention and not speaking, and not lending his technical support, it needs to he has to have it to win. Over poll has ohio neck and neck and theres all kinds of different i think hell takoo and im going to tell you why, it comes back to the economy and trade and jobs. Hillary clinton missed big time by not embracing trade as a platform. Shes out there. She couldnt really because shes been out there talking up tpp, the Transpacific Trade Partnership agreement for president obama. She has since said it needs some changes, et cetera, but shes very much about globalization right now and americans are looking around and saying globalization has been reached me. Youre misleading ohio. Charles its not your rust belt state. And he lost it during the primary. Its not california, not new york. Its not pennsylvania, you still have a lot of jobs a lot of oil, and manufacturing jobs that have left. Oil thats a new economy, fracking and kasich some people will be surprised how much better ohios doing than its neighbor. Youre going to see cleveland, the cleveland area doing better than it was in the past. It used to be like the abandoned factories. Last couple of years, doing better. All im saying that sort of hardedged trade, trade thing that donald does, argument, its less effective in ohio than you think. Well, i think its going to matter in this campaign, i really do. Charles no doubt about it. And i think that she has an opportunity to bring in a lot of blue collar democrats, lobby Union Democrats who say what is happening to our economy. And a lot of jobs to ohio, im not kidding, nasits cost 700,000 jobs. One state that republicans have to win to win the presidency beginning the Republican Party, guess what . Ohio, its a big one. Charles youre right. Im going to shift gears as protesters are promising chaos at the Republican National convention. Secretary of Homeland Security jay johnson and fbi director james comey expressing major concerns. What about the cleveland special agent Vicky Anderson how officials are preparing. In the wake of the news we saw particularly the ambush of those Dallas Police officers, everyone concerned about anarchy breaking out in cleveland. Hi, charles, thanks for having me. Yes, were all concerned here, Law Enforcement. Weve been preparing for this event for over a year, you know, since we first got named in cleveland as being the host for the rnc convention. We obviously have been planning, preparing, weve had unbelievable amounts of meetings, tabletop exercises, planning for any possible scenario that could happen. And so the fbi is preparing for anything that could happen here in the city. Again, were working with all of our partners, we have over 73 agencies involved. The secret service is obviously the lead in the planning and preparation, but the fbi has a significant role in the rnc. Charles ive read report that some are bracing for mass arrests. I know theres all the agencies are there and helping out, but do the local Law Enforcement agents, officials there have the capacity to make massive arrests . Do they have the capacity to tamp down in case barriers are broken in the designated areas . Do they have the capacity to keep the peace . You know, im not from the Cleveland Police department, but obviously, and working with the Cleveland Police department, we feel very strongly about our partners and we know that theyre prepared. We have numerous agencies from other areas of the state of ohio, from outside of the state coming in to reinforce cleveland efforts, again, they have their federal partners, their state partners, so, yeah were very confident that we can have the safe and secure rnc and all the events surrounding it. Again, you know, we have incredible intel capabilities, sharing information with our Law Enforcement partners, getting information to who it needs to go to. And being able to react in an efficient and quick manner. Charles vicky, ohio, open carry state. New black Panther Party signaling, i think its on sunday, i know that theyre going to show up and brandish weapons and my idea is i guess theyll be trying to entice Law Enforcement agents to do something. How concerned should we be at Something Like that turning into a major catastrophe . Yeah, were obviously hoping that that does not happen, turning into a major catastrophe. Were aware of some statements that have been made. Again, were monitoring everything that we legally can in the social media, people making statements of their intentions, were working with our partners, were sharing all of that information and obviously, Law Enforcement will react as appropriate. You know, the fbi, along with everyone else, is all about First Amendment rights. We want to make sure that the people that want to protest peacefully are allowed to protest peacefully. We know that theres going to be a lot of protests and thats great, you know . People have that right to exercise their freedom of speech. Charles right. But they dont have the right to bring violence and violence to others and thats a concern. We have numerous concerns of theres no direct threat to the rnc that were aware of at this time, but we do have concerns due to some of the vocal individuals out there and were hoping that they come here and they exercise their First Amendment rights peacefully. Charles Vicky Anderson, good luck, and we appreciate your work and your service. Thank you, charles. Charles see you soon. Justice Ruth Bader Ginsburg says she regrets making critical remarks of donald trump public. It sounds too little to late. She regrets it, illadvised and shouldnt have done it. She shouldnt have done it. This woman is one of the most looked up in america. She holds an office, a position that is supposed to be nonpolitical where she is evaluating and interpreting law and instead she goes out and makes a political comment like this during an election year. I actually could not believe it. It was way out of line and, you know, theres then calls for her resignation, i get it, i get it because shes just doing something that should not ever be done. Charles charlie, youve been critical of Donald Trumps attack on the judge and that Trump University case. Right, the judges since then his ethnicity would cloud his judgment, but after seeing the juice with Justice Ginsburg it brings back the realities that all of us are humans and justices and judges and maybe sometimes the humanistic part of us can sway our job decisions . Hes giving her a pass. Everybody has some people might say it sounds like im giving trump a pass. I dont give donald a pass on the judge thing, it was dumb move, politically stupid and took him off message and it was wrong because you dont know. Maybe hes doing it not because of his ethnicity, maybe because shes a diehard liberal. Im saying you dont have to go there and i think thats the problem with donalds campaign and a way a lot of republicans are scared, fearful about it. What got me the most upset, i know the guy a little, an i tack on somebody who is his friends, antonin scalia, if he was alive look what he would have done. Charles i thought they were friends, they went to baseball games together and all of that stuff, legendary how, despite their differences, they were buddies off the bench. En wouldnt have done it to her. And have to let you go. Anyway, starting on monday, fox business will be bringing you special live coverage from cleveland with the latest from the Republican National convention. Theres sure to be fireworks, but you wont miss it well be all over it. And new all time highs today, and the economy, is it Strong Enough to justify the rally . Its Strong Enough to keep it going . Were going to debate it next. Get ready for the rio Olympic Games by switching to xfinity x1. Show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Major market averages hitting new alltime highs as Hillary Clinton continues to tout the economy. And a financial expert says that she should be careful because americans are still very worried. Dan, we know the economy always ends up being the number one issue when it comes to an election. Everyone has their own feel about the economy no matter what the market and data says. What else would she she cant tout anything else, i dont think, right now. Well, i dont know what she can say about the economy, charles, because, and remember this is somebody that has endorsed obamanomics so to speak, since shes been in office, since she was part of the administration. Its going to be very difficult for her to say anything negative about the economy. Its going to be directly related to the president of the United States. I dont think she can do a whole lot or say a whole lot other than what shes been saying. Basically what shes been saying, charles and one thing we know for certain, shes probably going to double down, pretty much, on things like regulatory burden, on doddfrank, on obamacare, some of the policies that have created this stagnation, at best, that we have right now. Charles well, because ive heard it over and over again from so many officials in the administration, ill kind of tell you what the spiel is going to go or how the pitch will go. When president obama came into office we were losing 6 or 700,000 jobs every single month because of the republicans. Since then weve had over 70 consecutive months of positive jobs growth. The unemployment numbers under 5 . Gas prices have been cut in half. You are doing very well under tough circumstances, will the me, Hillary Clinton, take it to the next level. Well, listen, somebodys going to come out and way, fine, bring all the jobs you want in the front door, but you cant have more than that leaving out the back door and thats exactly what weve had. You cant deny that this is the only president in the United States that for the last seven years has seen the poverty rate, by the way, were supposed to be in a recovery, the poverty rate going up, not down. We continue to see the wages going down for the last 15 years by the blss own account so these are government numbers. Weve got Discretionary Income problems. Weve got the highest Health Care Costs weve ever had continuing to go up every year another attack, obviously, on Discretionary Income, and as far as i know, charles, and you know this better than i do, we are consumerdriven nation and weve seen nothing for the last seven years, but attacks on the middle class. I mean weve got a president that, for the first time in history, weve had seven consecutive years with an average of a 2. 1 gdp growth. Charles right. And theyre taking victory laps on the economy. Charles and ive got to tell you something, you know, the ability to sort of lower expectations and celebrate mediocrity has been remarkable to me. I think, and im going to give you the last word on this, i think the other part what youre going to see, strangely enough echoed somewhat by theresa may over at the conservative u. K. Member, Prime Minister rather, is that that wage situation is because of the greedy bosses out there, shell fix that. That the poverty situation is because of the greedy intransient republicans, i agree with you, this is what they do, they spin the numbers. I think theyll blame the republicans on numbers they cant defend and put positive spin spin. I think its going to be about the republicans and how they frame what theyre saying. Theyre going to have to come back and remind everybody of the real numbers and youre right, you know, theyve got the bully pulpit. Theyve got the media on their side, but the fact of the matter is, the American People know better because theyre living in this world of a diminishing middle class and no Discretionary Income. So, they can say all they want but main street america is living it. Charles all right, dan, appreciate it. Thank you very much. Thank you charles, i appreciate it. Charles we told you about the rnc security fears. The department of Homeland Security has new warnings about the country. Not just cleveland, but the country. Well have more for you after this. Homeland security chief, secretary, jay johnson and fbi director james comey testifying on worldwide threats on the United States, but it was what they said about the Republican National convention thats very concerning. Peter barnes is in d. C. With the details. Thats right, charles, they both warned a House Committee about possible disruptions at the Republican Convention next week in very, very serious language. Secretary johnson will travel there tomorrow to inspect preparations. I am concerned about the prospect of demonstrations getting out of hand. I am concerned about the possibility of violence. Anytime theres an event like this that people from across a spectrum of radical groups will be attracted to it. So were watching it very, very carefully. Johnson said that 3000 dhs personnel will be policing from secret service, tsa, Border Patrol and other dsh agencies and theyll be joining thousands of officials local and state in helping to keep the peace there, charles. Charles thank you very much, peter. In the meantime, syrias al alassad is sitting the United States hard on isis. Its about having it doesnt have the will to defeat the terrorists, it has the will to control them and to use them in afghanistan. Charles the former reagan advisor, mcfarland should we be hitting back at assad. Theres an audience report, i think in the washington post, it says the white house has reached over to russia and making an offer to have joint fight against isis and syria, joint bombings, joint command and control centers. That would be a heck of a 180, wouldnt it . Well, it would, and really a misguided idea. We know that russias trying to consolidate its influence in the middle east. It has had already in syria. It has it in iran with its ability to sell weapons there, so, having russia dominating the middle east, really replacing the United States in the area that supplies the life blood, oil, to the entire Global Economy is a very bad idea. But with respect to the military threat in syria, its not surprising that assad wants the United States to focus on his opponents, that is opposition that is pro western however, the past shows that whenever we try to cooperate with russia in that direction, somehow russia ends up hitting the pro western forces. So, this is a misguided idea. We do have to continue to do what we have done and that is achieving through air attacks and other means, supporting Coalition Forces that are making steady gains. And separately in iraq, weve had a good week. Now that weve consolidated control over fallujah again, as we get to see good news. Charles let me get into syria overnight reports of massive bombing attacks on those rebels and i think one of the problems for the American Public is the vetting of the socalled rebels. Are they truly our allies or are they just opportunistic, they want to get sid of assad, but doesnt mean theyll be better. What do you say to people who are very skeptical about this . Well, we have intelligence and relationships on the ground that have enabled us to confirm that, especially the kurdish forces, have been extremely effective and are very pro western, and also, Syrian Democratic forces that we have worked with are clearly pro western. Its the ability to support them that we ought to be focused upon. It works, they need better weapons, so forth, and air support. So its in our interest to do that, we know who the friendlies are, we need to be doing more for them and well, we know who the friendlies are we probably need to be doing more. Bud mcfarland, appreciate it. Anytime, charles. Charles a new warning about our debt that could send the economy into a tailspin. Youre looking at it right there. Weve got new details for you next. [vet] two yearly physicals down. Martha and mildred are good to go. Heres your invoice, ladies. A few stops later, and it looks like big ollie is on the mend. It might not seem that glamorous having an old pickup truck for an office. Or filling your days looking down the south end of a heifer but. I wouldnt have it any other way. Look at that, i had my best month ever. And earned a shiny new office upgrade. I run on quickbooks. Thats how i own it. As for trump, he clearly lacks experience in politics, but that doesnt necessarily mean he cant do the job properly, but i do think that his choice of vp, the team that he puts before the American People is absolutely crucial. He does need people with experience of how the game works. Charles that was former u. K. Independence leader nigel farage, saying that trumps pick crucial and it could be indiana governor mike pence. The official announcement tomorrow at 11 a. M. Youll see it here at 11 a. M. And well have reference to it on coast to coast as well. The u. S. Debt, the budget deficit hitting a twoyear high in june as well as we keep spending more money than we take in. The Congressional Budget Office warning of a debt crisis ahead. The warnings are nothing new. In fact, take a look at the rnc, what they focused on just four years ago. Spending and governor spending will be a big part of it. I want to bring your attention to these debt clocks that are here, there are two of them and theres the u. S. National debt clock and there is the debt from the convention. Charles that debt clock was less than 16 trillion back then. Well, guess where it is now, over 19 trillion. I know when we say the numbers it doesnt sound like a lot, but im using a t here, okay. To the committee for responsible budget. Why theres still no fix. Maya, theres no political will to fix it. Theres no game plan to fix it or all of the above . So, i think when it comes to the federal debt and it clearly is a problem and it affects the economy, the first thing, people do like to talk about it, they like to talk about it as a problem and youve got a lot of head nodding. When you talk about what the solutions are, the truth is, theyre difficult. Theyre talking about actually spending cuts, entitlement reforms and raising revenues and politicians dont like to talk about any of the choices. If theyre willing to, republicans and democrats disagree fundamentally which ones they want to put in place and theyre not able to compromise and put in the big deal. They put their heads in the sand and kicking the can. Charles what you said is euphemisms for taking away jobs in my town, raise my taxes and take away the Social Security that i paid into for the last 40 years. And i mean, so theres always going to be public outcry. Theres a reason that people dont like the choices. What weve been doing for so many years is spending a lot more money at the federal government level than weve been willing to pay for. As a result, not only do we have large deficits, weve run up a debt thats at near record levels, the highest its been since we came out of world war ii and the Budget Office says its going to break those records in a couple of decades. Charles as relates to gdp. As a share of the economy how you want think about it not just the trillions, but the share of the economy. Its slowing our economic growth. Its pushing down our wages, and its putting its threat, whats going to happen when the next economic crisis comes along, but its difficult to make families understand how that affects them in their daily lives when we already have so many pressures on them. And saying to everybody we actually need to do more, pay for the spending and we need to pare back the spending and people understand in principle but their lives are challenged. Nobody says i want to pay more taxes now. Charles how are we going to get through this. We need political leaderships and why Social Security cant pay out more than weve paid in forever. The big baby boom generation is retiring and pay less in taxes. If we dont have political leadership, in this campaign so far, nobody has a plan that would bring the debt down and thats troubling. Charles maybe it cannot be articulated in the right way, maybe the baby boomers are too powerful a voting block. We may have to hit a brick wall. Im not saying leadership and youre saying crisis. Maybe somebody who could make the tough choices could turn the economy around. Charles appreciate it. President obama speaking to the new u. K. Prime minister theresa may today, but should markets be worried about something that nigel farage said to us yesterday . The fox business report. Stocks are sending into a record territory. The s p up another 8 points today. Basically you had j. P. Morgan surprisingly better than expected earnings this morning giving the broad markets a boost and a decent jobs data as well. Thats helping out on wall street today. Lets look at callaway, the golf company forthwith the british open, the 145th. And callaway is outperforming its competitors, nike, under amour. Some of the stars, reeves, stenson, patrick gray. And nintendo shares are up since launching pokemon go. Almost 14 . The news today, pokemon go launching in europe. We were having fun outside wall street. Cavuto, back to you. He has a sharp wit. A winning smile. And no chance of getting an athletic scholarship. And that is why you invest. The best returns arent just measured in dollars. J. P. Morgan with a big beat adding with fuel to the rally today. Former u. K. Independence leader nigel farage isnt convinced its over. Brexit or no brexit, its cultural divides and secondly, if i give you a tip, guys, watch the euro zone. Watch the italian banking system. Watch whats happening in greece. This project, this european project is dying before your very eyes. Charles to the money guy, jared levy, who says that theyre underestimating those risks, for a lot of people wondering whats going on in greece, the italian bank thing. Were hoping its in our rear view mirror, but i guess its not . I dont, first of all, i dont believe that most Money Managers in the u. S. Really understand the european system in depth. Right . A lot of the folks are steering the money back into u. S. Stocks probably arent up to snuff. Now, when it comes to the brexit, i believe its actually going to be better for the u. K. In the long run. But now, there was an article in the journal about how the brexit could be perhaps devastating for countries like france and you know, a semi strong country like france is going to have an issue like we just said, you know, italy, spain, greece, those cards could tumble and like we also said earlier, i dont think risk is factored in. Were in six straight quarters of earnings decline in the s p and stocks are breaking out to new highs in the u. S. , in my mind, somebodys misgauged something and im trying to be as sort as realistic as i can to find the source,im not a doom and gloom guy, but i want to find the rationale. Theres no place to park your safe money. Youre going to pay, swiss, germany, japan to park your money . Thats craziment theyre giving u. S. Stocks a shot and i think thats whats driving it. Charles all he to although its crazy, more money is going into government bonds they have the negative rates because they can get away with it. The money pours in and America American investors have been taking money out of the market huge amounts of money out of the market. So youre right, who is putting this money in and why, i think you know, we need to further investigate, but, listen nigel farage is a euro skeptic. The euro skeptics have been around a long time, i think theyll be proven right, but the timetable is hard to say. Greece, not even 1 2 of 1 of the Global Economy, can it get better for greece and italy to upset the entire world . I think that we are a reactionary marketplace now, charles. Its no longer like, oh, these are the risks, lets prepare for them. Its like, lets wait until something happens and see if ecb and other banks can fix it if they cant, we panic. So the short answer is, a country like greece can have those big ramifications because it sends people into a panic and they dont know whats going to happen next. Right now its kind after oh, status quo. The central bank of london, of england says were going to hold rates where they are, and thats a gesture for people to feel warm and fuzzy. For now, as we come closer to a potential catastrophe, thats when things are going to happen ands you said earlier, quickly as the news is coming out rather than a preparation for thank you very much, i appreciate it. U. K. Power shakeup, how the shift over there could be heading right here next. I have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo opens up airways to help improve breathing for a full 24 hours. 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Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Hey, guys, remember that . The embattled pharmaceutical Martin Martin shkreli, hes back in court and adam shapiro is back in court with the latest. The latest hearing is underway, theyre trying to determine a trial date. His attorney has proposed a later date than the judge initially wanted a month ago, but that date now proposed is in mid june. The government right now is countering as to why that might be a little bit too late, but what we are learning through the different motions and discussions that are taking place behind me in the courthouse here in brooklyn are the potential defenses that are going to be presented when this does go to trial. This has nothing to do with mr. Shkreli and his involvement in raising the price of the aids drug. This has to do with a pharmaceutical company, hes accused of improperly using atropen funds, and they say those investor consultants never performed Consultant Services and one was interviewed by the fbi and said indeed he did perform consulting services, thats a key part of the defense when it goes to trial. The other thing, weve learned that two defense attorneys, because there are two defendants here, Martin Shkreli and the attorney who worked for them. Will make movement for severance since theyre tried separately. Charles appreciate it. In the meantime, its official David Cameron is out and theresa may is in and theres a huge power shift in the u. K. , and the british vote to leave the eu. Voters are asking for change and getting it big time. Well, now there are new predictions that it will impact the same voters here and there. The establishment in westminster is, i think, in many ways similar to the establishment in washington. We lost touch here with real england and real britain and i suspect that most of washington has lost touch with real america. One of the things that the various parties that exist, they have to recognize theres an undercurrent in this country that wants leadership. They want leadership, leadership, leadership. Charles whether were facing a Global Leadership gap here. Gillian, on both sides of the atlantic, there is turmoil. This didnt come out of the blue, but now were seeing discontent in the form of votes and massive changes. You hit the nail on the head there, charles, it seems sudden and shocking, but its actually been building for many years. I would say, you know, the gap to the u. S. Leadership and lack of power and abroad is at the heart of the matter here. Now weve got a troubled u. K. Combined with that. This has been going on. Its not something unique to the Obama Administration and the u. S. Our star, so to speak, in the International Community has been on the wane for well over ten years since the invasion of iraq and even well before that perhaps. Charles i think we can say though that the expectations of prosperity thats been part of a birthright, if you will, not necessarily written in stone, but part of our birthright with generation and generation, i think this is the first time that the older generation does not see their children and grandchildren doing better than them and i think thats why were in a panic situation, but the question is, the solutions. I mean, its going to be a lot of turmoil, right . A lot of turmoil. If we want to try and pick out a positive thread here, one thing that i would say, if were talking about comparing the u. K. And the United States is that two things this year, you know, the very unanticipated brexit vote and then the rise of donald trump in the Republican Party are really stark, really powerful reminders that when it comes to democratic governance, democratic politics, nothing is off the table and that at the end of the day, voters, the citizens of these countries are going to have their say regardless of what policy makers believe, regardless of what politicians tell them. So theres something to be said here for a positive thread to be spun out of this. Charles were seeing a grass roots revolution play out before our very eyes, but we have to hope, or at least that the will of the people will come after that. Lets not forget this g. O. P. Uprising, if you want to call did that, happened after voters overwhelmingly gave the republicans the house and senate and they did nothing with it. Yeah, you know, well here, again, to compare the u. S. And the u. K. A little bit. Theresa may, the new Prime Minister was really brought in on this platform of her branding herself as someone who is going to reunite their conservative party in the wake of the trauma of brexit and donald trump has sort of tried to brand himself as the uniter of not just conservatives, but conservatives and liberals here in the United States trying to kind of fuse some of the ideological strands together. Whether hes successful with that or not remains to be scene, but its definitely some common themes here. Charles gillian, the good news is larry the cat stays at 10 downing street no matter what. My favorite news of the whole week. Charles well take to you soon. Now banks are playing a role, j. P. Morgan breaking out and the Banking Industry breaking out next. Charles stocks continue rally mode hits fresh alltime highs. Now all about the banks. Jpmorgan set it off. A whole lot of banks reporting between now at end of the week. They probably makeorbreak this rally. More action on this and trumps vp pick, tonight on my show at 6 00 p. M. Meantime, here is trish regan. She will take you through the next hour. Bet i am, charles. Smart money betting on mike pence to be Donald Trumps vicepresident ial pick amid reports that telling key republicans that pence is his guy. Im trish regan. Welcome to the intelligence report. Trump himself is shooting down the rumors saying he hasnt made up his mind just yet. With trump, anything can happen. In addition to pence Newt Gingrich, Chris Christie are said to be in the running. Newt gingrich is about to host a online discussion moments from now. Were monitoring for you, if any news about the vicepr