Businesses. Kristin tate says nobody should be ashamed to get money from the government. The small banker that funded 100,000 Small Business loans out of one bank location. President trump is set to meet with officials on opening schools. It could makeorbreak our economy, this recovery but how would it work . Who really thinks kids will wear masks . I will ask dr. Nicole saphier. All that and much more on making money. Charles all right, so, heres the tally, folks. 521 billion dished out via that Paycheck Protection Program but not without controversy. Now the stats according to the Government Support 5million jobs. We know in that case it was successful there is a huge uproar a hot rich and powerful got a lot of cash. Businesses linked to lawmakers, caucuses, a whole lot of others. Billionaires, they got a piece of the action. You might have heard by now even rapper kanye west, his Company Secured five million bubbs. The shame game is on has everyone pointing fingers. Here to discuss, kristin tate. Kristin, heres the thing. The program has been politicized. In the last 24 hours, kind of used to portray folks being hypocrites. Give you an example, Ayn Rand Institute got a bunch of cash, a million dollars. Ironically they must have known the criticism was coming, a few weeks ago they put out a message saying it is okay to take the money. They called it justice. I know someone like you youre not necessarily always for government being involved in these kind of things. Where do you fall on this . Of course when the government creates a massive program to hand out trillions of dollars everyones going to want a piece of that. Sadly thousand, charles, i know several Small Business owners, who some in my family who never even applied for those loans because frankly they were too busy trying to survive to keep their Small Businesses afloat. Unlike Small Businesses though, large corporations have lots of resources and armies of staff who know how to navigate the bureaucratic system, who know how to fill out all the paperwork and jump through hoops and pull out big checks. You end up with country clubs, kanye west, private jet companies receiving millions of pp loans. That is our money. As you mentioned in the open, members of congress benefited. Nancy pelosis husband is investor in a firm that received some of the government money. The government has got to get out of the business of handing out dollars to everybody. We have to reopen the economy with precautions in place for those who are most vulnerable. Ive got to give a shoutout to thomas massie, he was one of only people who warned the stimulus is the cheese in the mousetrap. We know who is benefiting from the stimulus money and who basically just got crumbs. Charles apparently though, a lot of businesses, 4. 8 million loans were put out there. They say it supported 51 million jobs but to your point it is interesting, i want to get back sort of on the libertarian side the Ayn Rand Institute said, this is going back, i think they put this out in mark, we will take it unapologetically the principle here is justice. The notion is that if you put a lot of money into the government, via taxes, high taxes, unjustifiably high taxes you should have a chance to take it back. Is that a good moral ground, standing point for those who say listen, im wealthy, but i put a lot of cash into the system anyway . It was the government that forced the Ayn Rand Institute and others to stay closed for months on end. It was the government who prevented people from people being able to make a living. Do i begrudge the Ayn Rand Institute and other conservative groups for taking the money . No i dont. The ppp program should exist in the place, charles, because governmentforced and economic lockdowns never should have have happened. The government can only redistribute wealth of others. It cannot help. It only can force others to help. We need to remember, instead celebrating when the government is handing out checks to everybody, that 2. 3 trillion is coming from taxpayers once again, the hardworking men and women of this country funding the corrupt system we have in place. Charles yeah. You know, there is still 130 billion left. Do you think something should be targeted so that your relatives who didnt get a bite at apple, probably deserve it more than anyone else and other folks i talked to, somehow they know about it, get aid getting this money . When i talked to my relatives who are Small Business own earns, they dont want more government involvement. They dont want government help. They want government to get out of way. My step mom wants to open her restaurants and have people in her business again. That is what we can do to help the economy. That is better than any government connect. Charles yes. As Ronald Reagan said the most terrifying words you can hear, im from the government and im here to help. Charles i guess we can add the 2020 version to it. Because ive locked down the economy, i stopped you from opening your restaurant. Kristin, thank you very much. Always appreciate it. Thank you, charles. Yeah, folks, familiar script. We see it a lot in the last runup. Dow and s p marking time. Nasdaq continues on a record climb. We saw in yesterdays session we saw buyers emerge, it is interesting because they emerged throughout the session. Today its a little more subdued. The question is how we keep the overall beside trajectory . I want to bring in jack ablin and belpointes chief strategist david nelson. We got a boost with the jolts report. Job openings 5. 48 million. Street thought it was 3. 8 million. Over all the script were seeing, big moves in nasdaq, sometimes sideways but often up for the other indices as well. How do we keep that going . Nasdaq has become defensive play, charles. The fact is that these are rock solid Balance Sheets with business, in a business sector that is pretty insulated. So i think were seeing it now in valuation quite frankly. Eventually, unfortunately i think that market is going to become a victim of its own success. Charles yeah. So, david, to that point, i was checking yesterday. We closed with 150 some odd stocks at high on the s p. On june 8th. It was 191. Even as the rally resumed, you have fewer and fewer winners outside of those tech names. That is not necessarily the recipe to get us higher through the rest of the year, is it . Not in my opinion. I think, what we have to do is get a better handle on how the, you know, the covid scenario is going to play out. We obviously got secondquarter earnings which analysts are projecting to be down 44 yearoveryear. That will be a great story. But well see if investors start focusing on fundamentals. That could be a problem. Charles jack. Im not sure if your dog is agreeing with you or not but he is spirited. I like that. Yeah. Charles talk about [inaudible] Second Quarter mutual fund, the flows and performance are in, folks. Get this. The best year for domestic equity funds since 1979 in terms of performance. Here is the sad news. Americans pulled 94 billion out of those funds. So for all the handwringing about the flood of day traders, turned out investors squirreled away 264 billion in money markets. David i continue to believe ultimately the money will find a home in the stock market but again we get to the point when does it happen . It probably breaking out when we have new highs. June 11 gap down. We never confirmed that. Were very close, 3207 level in the s p would close the gap. If you break out new highs above that, greed will likely start to take over. I think the pullout from equities from a lot of investors from their funds is understandable. Fear starts to take hold. It is not the same for everybody. Some people will not get their job back. When october 1st hits you will see a lot of layoffs certainly in the airline industry. They kept the jobs going. Delta sent out messages to 2500 pilots. I think that translates to other businesses. Charles you know, jack, i know youve been bristled a little bit, been a little concerned about the day traders, when i see these kind of numbers, 75 billion went to bonds last quarter, 260 billion into cash, feels like the overall investing public though still on the sidelines. Yeah. I think one of the mitigating factors of my concern is the fact that investors are so cautious. You know, if you look at the bullishness among retail investors, it is trading in the bottom decile of the historical range and you go back to plot out how the market does from that point forward, the market is up double that then when we start in an extremely bullish position. Charles right. In a world where reality and expectations meet it certainly much better to have bearish investors with low expectations and hopefully the news comes in better than they expect. Charles yeah. Youre right. The contrarian play on Investors Sentiment is extraordinary right now. David, real quick, speaking of that, you talked about these markets hitting highs. What are your thoughts chasing the 200 daybreakout . Today, for instance, goldman, walmart, i just got into walmart, intel, these are just some of the names on the cusp, i think this is easiest way for traders to make money. Soon as you break the 200 day, you buy it, couple days later you can ring the register. I like to stay in longer than that. Goldman is on my buy list. Goldman is a fabulous company. Were even considering swapping out of Morgan Stanley for goldman at this point. This is the point on market at valuation. Not everything is expensive. Goldman trades 11 times forward. They will reap coupe those, get back to the highs back in 2019 in terms of revenue and the bottom line. For walmart and intel, intel is trouble foreme, kind of the gang they couldnt shoot straight. They missed mobile. They missed a lot of things. They lost out on apple. Its a keep stock but maybe cheap for a reason. Charles nvidia certainly taken a whole lot of their shine. I like you mixed fundamentals and technicals. Jack, david, thank you very much. Jack, tell your dog, i say thank you, we always appreciate your input as well. The dog was charles folks, while big banks are catering to those Large Companies and shutting out Small Businesses and entrepreneurs, later in the hour you will meet the tiny bank that stepped up in a huge way, saving perhaps 600,000 jobs in the process. She calls herself the Battle Tested maga candidate. Colorado primary winner lauren bobar will join us. She will discuss not only her congressional campaign, but whether or not she thinks President Trump should now expand his base if he will win in november. Well be right back. Experience the joy of a bigger world in a highlyconnected lexus vehicle at the golden opportunity sales event. Lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. Charles republican colorado pry larry winner Lauren Bobert might have been consider adlong shot against fivetime incumbent republican scott trip, but her big win garnered attention of everyone around the country including President Trump. Congressional candidate Lauren Bobert joins us now. What a magnificent win. You had strong, core conservative values, the way you live. It is kind of gone counter to what we see in culture overall. Just what made you believe you could get this far . This was an amazing win. Thanks so much for having me on. This was a tremendous upset for the establishment and a fantastic victory for the grassroots and for freedom. That is exactly what my campaign is. Freedom for america. I really, i would like to give some credit to President Trump for really pioneering the way for folks like myself to get involved. We love that President Trump is not a politician. He is a businessman. He is a family man. And he loves america. He is really given permission to so many of us to step up and serve our country. Charles when was your moment, lauren, your epiphany, when you reached a moment, you know what . I should get in here, i could be a great representative for the people . Well, im a mom. Im a business owner. I have never had goals to be in politics or in government but i understand how government overreach really destroys our lives back here at home. Those decisions that are made in d. C. Affect our daytoday here. Last year when denver liberals stole our votes for president of the United States of america and promised to give them to california with their electoral college, with their National Popular vote contacts, i went out, on the ground with the people in this grassroots, citizenled movement to repeal their National Popular vote contacts and save our electoral votes. I was the second largest signature gather in the state. I saw that we were underrepresented and our voice was drowned out by cities like denver and boulder who were taking over the state of colorado. I started looking to where i could be most effective for the people in my area. I saw my previous opponent record, he has conservative message when he comes back home, he seems to forget who he works for the people in the Congressional District of colorado. Charles the Supreme Court made that whole thing a moot point. You became a political superstar doing it it root way, the hard way. President trump, you met with him past weekend at Mount Rushmore. It gave a powerful speech. It was centered on american exceptionalism. The core audience. He put out a series of tweets. Some people are worried, he is not spending enough time with 120 days to go to broaden the tent. Any thought bringing independent voter, some other folks who may not be as affixed to President Trump as you are . Well, just like President Trump, i am an America First candidate. I love the message that he had. I felt it was very unifying. He is talking about how tremendous our, our country is. And the vision that our Founding Fathers had, the great things that they did to secure our nation, for us to be a free people. I dont believe it gets more unifying unifying than that. He was not creating a divisive narrative. He certainly addressed it, but i thought that his message was very encouraging and it was just an honor to be at Mount Rushmore for the first time that fireworks have been lit from there in 11 years with the greatest president america has ever seen. Charles all right. Lauren, you have an amazing story as well. Were going to watch it. Congratulations. You know, citizen politicians what the framers had in mind. They had you in mind. Congratulations. Well talk to you real soon. Have a great day. Charles when the big banks were shunning momandpop shops and small entrepreneurs when they were looking for pp money, one tiny bank, a one bank shop stepped up to help more than 100,000 businesses. Their ceo will share their story. Hes next and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. [camera man] actually anyone 50 or over is at increased risk for shingles. The pain, the burning my husband had to do everything for weeks. And the thing is, theres nothing you can do about it [camera man] well, shingles can be prevented. Shingles can be whaaat . [camera man] prevented. You can get vaccinated. Frank they have shingles vaccines whaaat . Thats what i said. Were taking you to the doctor. Not going through that again. [camera man] you can also get it from your pharmacist talk to your doctor or pharmacist about getting vaccinated. Theyre going to be paying for this for a long time. They will, but with accident forgiveness allstate wont raise your rates just because of an accident, even if its your fault. Cut sonny. Was that good . Line the desert never lies. Isnt that what i said . No you were talking about allstate and insurance. I just. When i. Lets try again. Everybody back to one. Accident forgiveness from allstate. Click or call for a quote today. [ vo stinct radio chatter] audi etron. The next frontier of electric. Accident forgiveness from allstate. Charles in 45 minutes President Trump holding a meeting with top officials how to safely reopen our schools. After he tweeted schools must open in the fall. Edward lawrence live at the white house with a preview. Edward. Reporter charles, President Donald Trump bringing together professionals from k12 as well as Higher Education and parents and students talking about reopening schools safely. He is pushing to get schools open. The first lady will join him at the top of the hour when this event does kick off. In a statement, White House Deputy press secretary judd deere says this, quote severe negative impacts of keeping schools closed including mental and social development are welldocumented including by pediatricians. St. Louis Federal Reserve found other longterm effects of school closures. Parents may be less productive working from home. Income gender gap could widen. The child may suffer because inequities may widen as high the schoolilies have resources the local one. Florida already mandated yes it will open but the mayor of new york city he understands the importance of all of this. Listen. I talked to so many parents who are trying their best to support their kids, be at home educators, still somehow either hold down a job or try to find a new job, try to make ends meet t has been really, really tough for parents. So bringing back child care is crucial. Reporter the