stuart: it really is. standout stock of the day is facebook, on the way down because they're changing the news feed which might limit their ad revenue. the other standout, of course, is amazon. today it hit $1300 a share. charles payne in for neil. sir, it's yours. charles: thank you very much, stu, have a great weekend. welcome to coast to coast, i am charles payne in for neil cavuto, and we're on top of a market rally that just will not quit. much more on what's driving but first, our top story. donald trump calling the bipartisan deal he was presented a big step backwards as he denies he made a vulgar remark. >> reporter: let's start inside the oval office, donald trump was signing a proclamation

honoring martin luther king jr. all eyes , he did not respond to a single shouted question about comments made in the oval office in which sources say he referred to haiti and african countries as best whole countries, a pg version of all this. keep in mind the white house does not deny those comments were made, donald trump did take to twitter to clarify at least if you want to call it that how he sees it. here where his tweets, the language used by me was tough but this was not the language used was what was really tough was the outlandish proposal made, a big setback for daca. speaking of haiti he said never said anything derogatory about haitians other than haiti is a very poor and troubled country. a wonderful relationship with

haitians, and trust. at this meeting, handful of different lawmakers presenting a proposal for daca. dick durbin, one of those inside the meeting, the conversation surrounded temporary protected status for some in the united states, the conversation turned this way. >> do we need more haitians? then he went on, someone who described immigration from africa as being protected in a bipartisan major, that is when he used this vulgar comment calling the nation they come

from -- the exact word used by the president not once but repeatedly. >> it was tuesday at the white house, 72 hours ago when the president brought those lawmakers in, 20 or so of them, lawmakers walked out of here feeling optimistic they could get a deal done. fast forward, durbin same, quote, the deal died yesterday, donald trump called the meeting yesterday a big step backwards. speaking with a senior white house official earlier about the president's comment and whether they impact the deal, a white house official told me it could have some impact with the overall narrative, this would be a huge stumbling block is over exaggerated. the charles: to the wall street journal, if the reaction to donald trump's comments will have an impact and will kill chances for this deal to get

done? according to these tweets donald trump saying he never made it, he said he said thing and probably later we will get other folks who were in the room. a lot of eyes are on lindsey graham for what he will say but the fact of the matter is he wasn't happy with that bipartisan deal that was presented to him, it was presented by a group of democrats and republicans who most believe were for, quote, amnesty to begin with. it is not surprising in my mind the president rejected it. the question is what blake said, can we rekindle the feeling from tuesday and get something done? >> in the interest of republicans and democrats to get something done, using it as -- to some agreement on daca and border security because it will cost money and everybody is in a position negotiating and is language you are hearing won't happen, the deal is dead.

and some pastor amnesty, a portion of that population, and work permits for the patients, not agreeable enough to reach a deal, the language issue, not a he said he said issue here or he said he said issue, this was language presented to the white house and the white house didn't deny it after it was said. charles: sarah huckabee sanders is going to have a press conference, let's see what she says. i hear what you are saying but with the president tweeted, maybe she can clarify that. be that as it may we have been throughout the trump presidency in a situation where something he says wrinkles folks, does it outweigh things he has done or things we need to get done? should it be an impediment to

getting a deal done even if it was said? >> the president has a way of interjecting language that is appealing to a certain section of the voter pool that might be his supporters. this morning he tweets he didn't want to go to london anyway, london canceled a presidential visit to england because of his tweets of inflammatory videos a few weeks ago. >> one of our best allies, donald trump is not going to england, he said he didn't want to go. a white elephant, set in motion by the bush administration. the language the president uses is deflecting of an incredibly effective meeting earlier this week on daca where he showed himself being presidential,

bipartisan, a disagreement over issues. charles: language being an impediment to get things done should be used as an excuse for people, particularly elected officials, so outraged they never heard the word before, or better way to describe the poorest country in the western hemisphere other than that should that be the overriding issue when trying to get major achievements done? >> the question is whether it will be, the language has been spoken. charles: sound like he made up his mind that it will be, not even a matter of should it be, he probably thinks because of the language used yesterday, not rejection of the daca deal which obviously flew in the face of the things donald trump wanted to achieve, that it is dead now and how smart or fair is that for the folks we elected to get things done in

the first place? >> you are in a position of negotiation seeing a push and pull. immigration crosses political boundaries. there are groups on both sides that can find agreement to fix the immigration policy and the deck of language, interesting to watch the flip side of all this. this incendiary language that was used by trump. on the other hand fairly conciliatory language lately toward north korea because there is an effort to decompress that problem and show the us willing to allow north and south to negotiate. he can play both sides. charles: north korea made a lot of concessions after tough language, tweets by donald trump that the mainstream media thought were deal breakers and might have propelled us closer to a diplomatic solution on the peninsula. thank you, have a great day.

another day of records on wall street. all major indices hitting new highs, fiat, crater, capital one, giving their employees bonuses because of the tax-cut yet all of the focus from all the media outlets, exclusively on trump's comments, political analyst caldwell on if the media is being opportunistic, is the exclusive focus justified? >> truthfully, something like this is going to grab people's attention and donald trump said he didn't say that but raise your hand if you believe him. this is a long line of things he said going back to the judge where he believed the judge could make the right decision because of his heritage, good people on both sides in charlottesville which i got very emotional about and now these comments. personally it is my opinion that he probably and likely did say that, provided gravitas to

the allegations of him being a racist and this is troubling that the president of the united states would make any commentary reflective of that. charles: haiti is the poorest country in the western hemisphere in bad shape. by saying it in a vulgar way, make a person a racist but articulate by saying it is poor, has been poor for a long time, they sabotage themselves, led by father and son dictators, if he said it difficulty, the conclusions would be the same. >> the conclusion would be different, haiti has a lot of problems, that is true but the comparative is this. he didn't just say haiti, but other countries, to defend itself. he would rather at least, norway would be a country

bringing more people in. the sore spot, media will be opportunistic, donald trump delivers the media and democrats a playbook for defeat in the midterms. keep in mind the reason democrats won in virginia and alabama isn't all because of them having the best candidate because they did not in my opinion but because of comments and actions of our dear president. when we look at these issues democrats that have artie made up their mind, they have no message, no economic message, republicans delivered on tax reform and other things but what they do have is consistent theme from the president which will allude to many people saying donald trump is a racist and republicans who do not speak out against donald trump are protecting, which does lead to defeat in the midterms. charles: every republican president has been a racist,

george bush didn't peak the way donald trump speaks. every democrat that i knew called him a racist. ronald reagan was called a racist. he was an eloquent gentleman. he was called a racist. the idea someone should be shamed or forced to call donald trump a racist simply because of democrat pushback i disagree with that and virginia, alabama with have been a friend than any other republican but having said that, the dow is up 200 points, 2 million americans getting bonuses from their tax plan, 66% of the country says the economy is excellent and/or good, record number by far. >> i have been a republican for over a decade. i'm 31 years old, i heard people call republicans racist the entire time i have been a republican and before i knew what politics was. that has been a constant.

i recognize the republicans as a whole, this isn't a racist party. i know the republican party started in 1854 in opposition to the nebraska act. what we haven't seen from these previous presidents, they are called racist, they used this term on a number of occasion, we haven't heard the same language we heard from donald trump. i am saying he is giving gravitas to every individual that chooses to call him a racist because of the things he said with the judge, both sides on charlotte valenti's comments. charles: they are giving me the rap for five minutes, the words we are hearing from the president elected by the people in this country, we are not shocked or surprised he speaks like the common man does, rather than hide behind glamorous words to reflect the same thing. >> we can also give -- i bet

you -- charles: somewhere, probably people saying the same thing, hate to say it but people talk differently in a closed room. >> i agree with. charles: have a great weekend. bank earnings kicking off today, tax reform is part of that. it is mixed but the market is a time and a lot of people wondering when it will be over. we will be all over that next. (siren wailing)

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charles: the dow hitting an all-time high driven by stronger being earnings. lauren simonetti has the latest from the stock exchange. >> what a day, what a year. we start with what happened before bank earnings, news out of germany, politicians achieving a breakthrough in talks for a coalition government, that move at a

3-year high, the ftse in london at an all-time high in the british pound is strongest. that is what happened overseas, didn't lift our futures this morning and got bank earnings, how the tax overhaul was affecting them, let's start with jpmorgan chase, the news wasn't all good. they did take a 1-time tax hit because of the tax overhaul bashears managed to hit an all-time high. we moved to wells fargo, stocks dead flat. news out of wells fargo, they saw a gain from the tax overhaul but that was offset because of legal costs stemming from the fake news crisis and everything else. you are looking at pnc financial. the ceos is tax law gives us increased flexibility as we

invest in our company and finally black rock, check this out, putting more money in clients pockets because they are saving money on taxes, a record $6 trillion in assets so that is an overview of what the bank said and reaction on the street. we are at 211 points, from 26,000, this week the dow is up 2%. it was just six days ago that we had 25,005 for the first time. boeing, caterpillar and home depot. charles: winning he gets winning, it is infectious. steve mnuchin predicting $1 trillion in revenue from tax reform as more companies are doling out money to their workers, 2 million americans receiving bonuses after the tax cuts but nancy pelosi saying

corporations not doing enough. >> in terms of the bonus corporate america received versus the crumbs they are giving to workers to put the schmooze on is so pathetic. charles: to douglas -- douglas holtz-eakin if workers think these bonuses are pathetic. before i ask you that somewhat tongue-in-cheek, i remember nancy pelosi chairing a $40 rebate to workers back when donald trump find the legislation saying it was significant. >> it is going to be an awkward position for democrats to stand between constituents prosperity and they won't keep this up very long. corporate america has done something very smart. as you know for eight years during the obama administration corporations got beaten up

every day, a lot of finger pointing and the source of all our problems and they took the first opportunity where they got some sort of help and passed it along to their workers and pushed back against that image. it was a bright thing for them to do and helps the corporations, the labor market is tanking, the want to work for you guys who had out bonuses or some other company, this is a very smart move from the deck of view of the larger arc of politics of corporations and the labor market incentives. charles: what about the notion no matter what they get folks will never be satisfied to find a way to critique or criticize them, yesterday walmart, getting $1.5 million in workers bonuses, maternity leave, paternity leave, and being criticized for having closed

sam's club stores which in the competition against costco and amazon they happened to be a casualty. >> exactly backwards. you are in a position with a failing business which is sam's club you have to close and you still take the opportunity to provide additional paid family leave, increasing the minimum wage for your workers, seems to me a pretty good day for a company. >> talk about the market rally in the economy as well, the news keeps hitting, one bit of news no one will see on any other network, the national retail federation holiday sales never came in better than expected, the best gain since the end of the great recession in 2010. can we keep this going? >> i'm interested in seeing what fourth quarter gdp will look like. the third quarter being above 3%, a lot of that was inventory build. final sales were 2.3%.

fourth-quarter looks strong in the household sector and they look strong in accent durable goods. we can see that number bounce up in the fourth quarter which shows strength of the economy coming into 2018 and the market speaks for itself, question is will the rest of those fundamentals look as good. i'm looking forward to seeing that. charles: it is wonderful to get gdp growth, it is a long time since that happened, always appreciate it. is the iran deal in or out? key deadlines, latest on whether or not the president will kill the nuclear deal. much more on all of this on making money at 6:00 eastern time on foxbusiness. ooooooh snap!!

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charles: a big decision on iran very soon. donald trump expected to extend sanctions relief related to the nuclear deal recertifying it at

least for now. but fred flight says that doesn't mean donald trump has gone to the left. we thought it would be dead officially right now. >> i'm disturbed by what i'm hearing. this is a deeply flawed deal that can't be fixed. we know sanctions relief has been used to support terrorism, send troops into syria and made the lot of the iranian people worse. i am where senator ted cruz is who said today that waving sanctions would be a serious mistake. i hope your viewers will take a look at this. what this comes down to a year after the president is in office this terrible deal is in effect and it goes to the fact the president does not recognize policy, he has some bad advisers, hr mcmaster and secretary to listen who have always been against him on the

iran deal. i don't know why the president will outside with someone who has always supported him. i hope pressure ports are wrong because this is the wrong decision. charles: one of the iron he is this is a president who likes to surround himself with sycophants so someone actually commend him for having different points of view but having said that you are still optimistic that ultimately this is certified for good. >> i hope we will give congress one last chance to fix it with additional sanctions. >> can it be fixed? >> realistically it can't be fixed. to fix this deal you have to take out uranium enrichment, giving iran every active plutonium. no one is discussing that. they want to extend the deal which makes no sense, have tougher inspection the iranians won't agree to and consider

congress can't renegotiate an agreement by passing a law. it has to be negotiated by international parties. fixing this deal of the fraud. it can't be done. >> what happens if it is decertified? a lot of people say that would be a mistake, some say the worst parts are done. they have already spend money all around the region to push for terrorism and control the region. it is hard to retake that. we can't put that toothpaste back in the tube so it would be inconsequential and a waste of time to decertify that at this point. >> that is a false argument the administration made which we can reimpose sanctions to stop transfers of nuclear missile technology to iran and the argument that europeans will be upset and offended if we back out of the deal, europeans do not have a leg to stand on concerning iran because they

won't back the uranian demonstrators, the president has shown leadership and moral clarity toward the arena demonstrators and he has to do this again by killing this deal that is making iran's economy worse. charles: if it is recertified and these come very quickly, what concessions should the white house be looking for? should they get anything? north korea severing their ties with north korea or iran or north korea, supporting terror groups in the region, what concessions should we settle for if we do this? >> i can't see a settlement short of uranium enrichment which is allowing iran to perfect its capability to make nuclear weapons fuel. that was a red line for every administration until president obama. as long as that is in there, we shouldn't be talking about it. if that is that we can talk. charles: some are saying, i am sliding this in, the recent uprising outside major cities

in iran are another reason the president wants to see how this plays out. if he decertified this whole thing america becomes the great satan again and may snuff out what may organically be happening with people tired of living under the rule of the current regime. >> i don't think he is going to certify the deal. he will continue to decertify but he will extend by offering a sanctions waiver. sanctions lifted under the agreement, they will not let it be imposed. we know so much money has been squandered on the military but the uranian economy has suffered and iran is more isolated because of its aggressive behavior since the deal was put into effect. the only way is to kill this agreement. charles: always appreciate it. facebook making changes to its newsfeed. why investors are not liking

it. markets may be closing monday but foxbusiness will be open for business and we will see you then. ♪

charles: kentucky first usa to implement medicaid work requirements after the trump administration is giving us the green light. rethinking its newsfeed, the biggest drop since 2016 is the social media site gives more emphasis to the people you follow rather than publications. i saw the headline, and -- >> that is going to prioritize me and for you sending dopey pictures of my dog more than publications that are willing

to pay. it is prioritizing friends and family who don't pay to be in your feed versus publications that do. the reason the stock is lower his facebook is net net going to lose advertising revenue, there is no way to serve your code it. sugarcoat it. this is a pr issue. mark zuckerberg after the election said it was absolutely ridiculous russian bots bought into anything on facebook and a couple months later he had to say actually i was wrong, maybe 120 million people may have seen ads placed there by an algorithm originated from a russian company so he is also part of this larger defense play silicon valley is having to run where more psychologists are releasing reports that our

collective diction, that is what most psychologists use in social media, not really good for us and you and i as parents could argue the ship sailed long ago before our kids we have a different reaction. charles: not sure that changes it getting more from our friends than publications. one of the things that drives it is someone posted a new shirt or shoes, stand in front of a private jet and act like they are going to get on it and lose their mind, how will this help long-term? there was a 50 state listening tour that came into the year saying they were going to fix the company but how does this actually help the shareholders ultimately? >> it is a bet on a longer game. he is saying we are going to give up revenue, advertising revenue for what we hope is a long-term brand game where a parent is not going to say you can't be on facebook because it is bad for your brain development or he doesn't want

to face, we talked about this, apple had to field a letter from pension fund and activist hedge funds which normally, they are there for the dollars, not necessarily branding issues but they say to apple you need to develop some software that makes it easier for parents to limit time and context and this is a branding long-term play on zuckerberg's part but is is a big bet. as an investor i'm with you, they are giving up short-term money which you usually don't hear many businesses say. charles: i own the stock, not panicking. >> wall street analysts on your side, they have 2 billion users, the company is not going anywhere. charles: thank you, appreciate it, donald trump heading to the walter reed medical center for his first physical as president, many on the left are

pushing for mental examinations. critics question his mental health the wall street journal survey showing economists crediting donald trump for having a positive impact on the economy, democratic strategist emily 2 -, former bush 43 deputy assistant brad blakeman. the strong economy, markets through the roof, everything through the roof, does that mitigate or hurt the democrats argument with respect to donald trump being unstable? >> absolutely but this is part of the resistance they have to donald trump the minute he was elected. they embark on a campaign to discredit him and it has gone to a level of unprecedented to question his sound judgment but he has had a fantastic year. if he is crazy he is crazy like a fox and if democrats want him to be mentally evaluated i suggest under our constitution that every branch of government is coequal, take the same oath,

what is good for the goose is good for the gander. if we examine the president as mental health we should do it for every member of congress. charles: what are your thoughts and how fair is it for these folks whether it is mainstream media or democrats to die psychiatric evaluations of someone what they are not qualified to do it or if they were qualified they were not fit to do it. >> we don't have to be doctors to observe the fact that the president is not stable in his judgment. charles: name one thing he has done that has been unstable. >> you don't think anything has been done? the fact that he may be starting a nuclear war with north korea? i think these are real things, people are nervous and we have gone through rust belt america, we saw a lot of trump voters and the number one concern they had was his mental stability

and the fact that he is so easily distracted is going to negatively impact their own personal wealth, their own personal job situation. this is a very widespread concern. charles: one thing we know happened so far as most people watching this show their personal wealth is better and probably their safety is better, north korea was building up their nuclear arsenal under the last several presidents on both sides of the aisle, not sure why anyone food who would think trump is pushing the agenda of nuclear war with north korea but having said that midterm elections are upon us and it is tough for the incumbent, they usually lose a lot of seats and the tweets and language don't help those folks, does it? >> it helps and some it hurts but that is in every presidency, every president no matter how successful. charles: would you like to see him curb some of the things

that give fuel to the fire? >> yes i would. some of the tweets are not helpful, no question about that but what makes him, quote, unstable to democrats is that he is not a politician, doesn't fit the mold and is not easily led or directed or dissuaded in his ability to govern and he has had a successful year. i will tell you 2018 is anything like 2017 democrats should be running for the hill. charles: speaking of hyperbolic when democrats say things like tax-cut lead to armageddon and it doesn't, doesn't make it look very stable either. >> the tax bill is deeply unpopular the more people find out about it, it becomes unpopular. we live in a global world and a global economy. of the president start calling our allies -- can't even go to the uk because they are afraid of being protested that is not say good things for long-term outlook, does not say good things for americans day today. charles: the first time, 3 quarters in a row, 3% gdp or

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>> we have been stable on gas prices for a long time. are we ready to leave the stable? >> we are ready to move up, refiners are doing a better job than in the past, not as beholden to crude oil prices, they are a lot more efficient and the other thing driving these prices is a great story, gasoline demand. i look at gasoline demand numbers, i see economic growth, icy jobs, people driving to work feeling more confident about the economy. charles: oil is on pace, the fourth straight week of gains. could this mean we will see a huge pop at the pump?

jeff flock is in chicago. jeff: you didn't think it was going to be a pop, we will see steady increase. oil prices are going to continue to rise. you better be in your car with your heater on in chicago because it is cold, 20 ° with windchill below 0. this is the most expensive gas station in chicago, the one behind me, $3.49. look at the national average, one dollar more than the national average which is up itself from last year this time, up 7% but as you know oil prices have risen a lot more than 7% in the last year so it stands to reason we will see increaseds. the other headline, our friends at gas buddy contract different prices around the country and found there is a lot of disparity, different markets between high prices and low prices, maybe some people who

have gotten increases, decrease in their tax bill with extra money to spend don't care so much about gas prices because in chicago this price is $3.49 a gallon, not far away you could get it for one dollar cheaper. maybe some people not shopping around. if it is important you the message is shop around if you have gas in your tank, drive to the cheapest station. right now i would just like to get out of the cold. charles: i will let you do that. i will put my coat like that out for two days but have to break it out. jeff: it is coming. charles: breaking news, kentucky the first state to implement the medicaid work requirement, donald trump this week gave the thumbs up and greenlighted it. the new york times calling an editorial the trump plan is going to hurt by pretending to help them. paul krugman says asking people to work for medicaid is amazingly cruel. let's find out what capitalist pig founder jonathan koenig has to say. you might think these people

are overreacting. >> they are out of their minds. work is a requirement not just for medicaid but for life. life is the process of self-sustaining action and for people who can't sustain their own lives, charity is the only answer, not mass redistribution like the leftists want. charles: someone who has a medical issue and not able to work, that is not always true, once we have seen with social security disability, the crazy check almost bankrupted, period when you could be strong, 26 years old, bench press 400 pounds, got cut from an nfl team and don't want to work him you go to the social security office, and our country wasn't built on that and we should not be afraid to address it. >> that was the point folks

made, we like medicare and medicaid, we just can't afford it. we don't like it but have to have a work like bush's welfare to work program so you get social security, medicare, medicaid, bush's prescription part d program, obamacare, trump's child care credit, this is the entitlement state, even those who oppose it still sanction it. welfare, medicaid, what we need to do is figure out ways to phase out the entitlement state, not let it continue to run. charles: who will run on the platform? vote for me and get rid of medicaid, medicare and social security. >> you have a right to healthcare and housing. how hopefully, the republicans

need to come out and say they are unaffordable but they are wrong, and give it to the people who need it. if you truly need it charity the only option but as long as you keep going down this road if the right can't stand up and oppose entitlements they are around for the long-term. charles: we have a history lesson with the decline of europe and the uk which is a welfare state, the powerful richest country in the world, one or two ships outside its own ports but having said that, how do you articulate it in a way where you don't get krugman saying amazing cruelty and that kind of thing. isn't there a way to articulate it by saying i want you to fulfill your promise rather than me paying you not to. >> a lot of folks are worried about their benefits being cut

or their promises because there's -- taxes being cut. the only way to solve it is to make the case, why this redistribution is moral, what it does to hurt your life, how you have a right to your own life, keep on that road. charles: hope to see you again soon. donald trump's comments adding to the immigration deal, what paul ryan said, we have for you next. ♪ (siren wailing) (barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to the patient.

verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away. as we get faster wireless connections, it'll be possible to be able to operate on a patient in a way that was just not possible before. when i move my hand, the robot on the other side will mimic the movement, with almost no delay. who knew a scalpel could work thousands of miles away? ♪

charles: welcome back to "cavuto coast to coast," i'm charles payne in for neil cavuto. fox on top of a rally that just will not stop. the dow approaching 26,000 as tax reform kicks in, earnings season kicks off. we're going to have much more on what else is driving this market coming up. but first, debate over trump and vulgarity and what is happening here. is it leading to uncertainty. president trump, he's denied making crude comments about haiti and african countries, all while slamming a dreamer deal presented to him by a bipartisan group of senators. and just a few moments ago speaker paul ryan saying this: >> i read those comments later last night, so first thing that came to me mind was very unfortunate, unhelpful. charles: so the question is, is this actually going to make an

immigration deal harder to pull off? to fox news' contributor steve cortes and sabrina schafer. sabrina, dick turbine is saying it wasn't -- durbin is saying it wasn't the deal they brought to the president that made things tough, but it's the language he used that's going to make this thing impossible to pull off. >> well, from a public relations standpoint, it was not good. [laughter] look, i think this leaves a bad taste in a lot of people's mouths. they would like to see that we secure our borders and that we do more to incentivize legal immigration, and this derailed that conversation, and instead now we're talking about yet another instance when the president sort of, you know, said something that's inflammatory and insulting and doesn't represent the views of most republicans of democrats. charles: steve, as a hispanic supporter of trump, you've had to engage in a lot of conversations, arguments and debates, i'm sure, and now the plot thickens even more, you know? they're going to have a tough

weekend fielding these phone calls from family and friends. what do you tell them? >> first of all, i don't think they should be tough conversations because hispanicen unemployment is at an all-time low, and i do believe we're on the cusp of an historic immigration deal, we're going to get control of the immigration system and protect the daca recipients as well. toward these alleged remarks, that was a private conversation, and i don't think any of us were living under the illusion that he talks like mother teresa in private meetings. by the way, if you listen to tapes of presidents past like lbj, like nixon, they had pretty tough mouths as well. and regarding the not just bad language potentially, but the substance of it, talking about how many countries in the world are basket cases, well, the harsh reality is they are, and it has nothing to do with color. i'd give you a white example which is belarus, a white country that's led by a tyrannical leader. many leaders around the world steal the prosperity and liberty of their citizens. thankfully, we don't do that

here -- charles: yeah, i get it, you know, and presidents have behaved badly in the past. sabrina, we know that, but we also know that the media continues to seize upon any opportunity that they have for president trump whether it's a tweet or perhaps a gaffe like this to mitigate accomplishments, to derail his agenda which i think is working phenomenally. we're looking at another record in the market, phenomenal numbers from retail sales over the holiday. i mean, just -- it should all be great news, and all americans should feel great about it, but they don't right now. >> look, language like this is part of the reason why they don't feel good about it. look, you could have the greatest policies in place, but if you don't lead, if you're not a leader, if you're not someone who inspires or makes people think this is a welcoming country, i don't think that those policies matter so much -- charles: but let me ask you this, sabrina -- >> we need to be a country that invites people here. charles: with all due respect, if these comments were used in a private setting, to steve's point, would you be surprised -- is there anyone who voted for

president trump that would be surprised or shocked or, you know, upset about all the other things that are going on? i mean, does it really change the narrative? because we knew the person in the white house before yesterday. >> right, i agree with you. i mean, i don't think this is surprising, and the way i'm surprised that it's getting so much attention for just that reason. but at the same time, these are important issues, and if we do want to move the ball forward and we do want to come to the table -- and i think that there is room for agreement between democrats and republicans on immigration -- this isn't helping things. you would think at some point the white house would say enough is enough. we need to act like the white house. charles: right. so, steve, you're confident about this, but how do you move the ball forward, you know, particularly when you have these self-inflicted wounds? >> right. well, look, the president, i think, showed great compassion in extending the daca protections for six months and told the congress, by the way, to do your job. he's going to do in the right way not like president obama where he pretended he was a king

and did it by executive edict. we're going to do it the right way. we are going to protect the daca recipients because they're a different category of illegal immigrant. they did not choose to break our laws, they were brought here as children. but in exchange, he needs to have more funding for the wall. it was a foundational promise of his campaign, perhaps the foundational promise of his campaign. and in addition to that we need to end chain migration, we have to stop the insane visa lottery system. we need to do immigration better in this country. the president's already done a lot to get control of immigration and our southern border, but we need to finish the job. charles: i want to turn to all this big economic news that's, obviously, being overshadowed by trump's comments. dow, s&p, nasdaq, all at all-time highs, again, this amid news of bonuses and wage hikes. to charlie gasparino, did trump, you know, did he change the news cycle to the point where the mainstream media can now -- they don't have to even give it lip service.

before they would give lip service to some of this good stuff, now it seems like they don't have to mention it at all. >> yeah. it's hard not to mention it, though, because it's so stark. i mean, listen, i'm a -- i think, i think president trump acts like an idiot sometimes. i mean, comments like that, that's not a private setting, by the way. you're in there with other congressmen. there clearly, there's no chatham house rules when you're in these conferences. it's not off the record. people can talk about it afterwards. so to think it's private, is absurd. let me -- charles: well, the president could have thought he was amongst a -- >> if he thought that, that's doubling down on idiocy. the problem with president trump is this: policies, real good, the man himself says dumb things, and he takes the emphasis off the very good policies. by the way, there is a legitimate debate which i'm 100% in his corner for, how can you have open borders and a welfare state? how can you be bringing in so many people from poor countries

finish i'm not going to use that other word -- in here trying to integrate them in mass while you have a massive welfare state that costs a lot of money? that is the debate. the minute you use an inflammatory word like that -- charles: how does that change the facts that you've laid out? >> well, i'm -- charles: a single word that -- >> charles, look at the news. i mean -- charles charles hold on. we're not going to use the mainstream media as a gauge for president trump. >> well, hold it, don't give them the rope to hang you with. that -- charles: steve, what do you make of that? president trump knowing the mainstream media not his friend, why help them with their mission to derail his agenda and legacy? >> i'm not sure he cares, number one -- that's why he's got a 30% approval rating. >> the mainstream media helped donald trump win the presidency. i think they were so utterly unfair, so clearly biased -- charles: [inaudible] make up for that, sabrina, i know you want to chime in here.

please do so. >> well, i think, charles, one of the things is it's not that he was talking about that these countries were so bad, it was the implication was that the people coming from -- >> right, absolutely. >> -- are inherently bad. and i can think of a lot of western -- charles: is that your take on it? that's what you took away from it? i thought it was like, hey, haiti's the or poorest country in the western hemisphere, they've got issues that go back a few decades, you know? i didn't think he was talking about the people, per se, but that's the way you took it? >> i certainly read it that way. and i think, look, i'm, i'm not a full libertarian when it comes to immigration. i do think we need to have some restrictions, i do think we should be able to pick and choose, so to speak, because we need to grow our economy. at the same time, i think we are a charitable country. i i think that we are a country with -- charles: we're the most charitable country in the world -- [inaudible conversations] >> people who are coming from really difficult situations is just, it doesn't resonate with me. >> and let's be real clear the context of this. he was quoted as saying -- it was probably a joke, but he

still said it in a accuracy way -- about aids and haiti. he said it. and when you start, like, when you start doing that, it becomes personal more than the country's poor. charles: steve, let me just go to you because aids is a major problem in a lot of countries. it's -- i guess you've got to say things a certain way, but facts will never change. having said that, do you believe this is one instance where president trump should apologize? >> no, i do not believe he should apologize. he didn't say anything racist. this is, sabrina, this is your interpretation or this is the mainstream media's interpretation that if you say something negative about haiti, it's automatically racist. that's simply not true. and by the way, i don't think he's talking about the people, i think he's talking about the leadership of those countries -- charles: right. well, here's the thing -- [inaudible conversations] >> words matter. he needs to spell these things out, i don't know. [inaudible conversations] charles: hold on one second, charlie. >> stupid. >> there we go. charles: the gist of this conversation was president trump detracting from all the great economics, from the fact that we

spent so much time on whether it was racist or not probably proves that, yes, the answer is yes. thank you all very much. still ahead, more on what we need to protect our borders from one of the people in charge of actually protecting it. we'll be right back. ♪ ♪

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♪ ♪ charles: so right now the sense is that an immigration deal far from done, trump calling the bipartisan deal a, quote, big step backwards for not properly funding wall. acting deputy commissioner of border, customs and protection says funding is really needed. ron, thanks for joining us. >> thanks for having me. charles: the numbers are very, you know, 18 billion, 50 billion, who knows, you know? we've seen prototypes of the wall, but this week president trump has tweaked this message a little bit. it's not going to be a 2,000-mile concrete barrier wall, and you agree with that. >> that's right. he gave us specific instruction to plan for a wall, so the border patrol and folks at cbp have evaluated the mileage on the border where they need a border. his request for budget in '18, we're asking for $1.6 billion. that'll give us a substantial amount of wall, but i'd like your viewers to know we're not asking for just concrete and

steel, we're asking for access and mobility, domain awareness which is sensors and lights and cameras to help protect it, and then there's a significant need mission readiness, to have more agents on the ground. charles: so you're going to, essentially, integrate more technology into this rather than just an old school big, tall, strong wall. >> right. in the prototype we asked those vendors to tell us how technology work in concert with those structures. charles: also president trump pushing for more funding, more manpower. is that something that's still critical? is that still sort of a mission critical element for you right now? >> it is. in the executive order that he signed on the 25th of january, it directs cbp to hire 5,000 border patrol agents. we're stabilizing in the customs, as well, and we have plans to hire, we're actively hiring right now. like your viewers to know if they go to cbp.gov, the careers page, they can look for career opportunities. charles: there was a time when over 50 democrats volted for

border fencing -- voted for border fencing and security, and it was just never funded. i imagine there's places where you still have old school fences, perhaps, but this used to be a bipartisan issue, and it's become so partisan of late. how does that impact border patrol, the morale at the border patrol? you guys are on the front line, you know? it's okay for us to sit in new york and debate it all the time, but you've got to keep us safe. >> the morale is getting better, secretary kelly made it clear that we're going to follow the rule of law and get our jobs done. wiz on the job in 2007 -- i was on the job in 2007 when we were building fence in 2007, 2008 in rio grande valley, and those areas of the border are better protected than they used to be. still more investment needed, so we're asking to shore up some of those gaps and add to capabilities. again, not just the structure, but the technology and the agents to go along with it. charles: a lot was made early on in the trump administration where there was a dramatic

decline in apprehensions at the border. but i looked at the data yesterday or a couple days ago, and i see a couple of months now where we're starting to tick back up. is that because perhaps there's a sense that americans or american politicians aren't going to really ever get any sort of, anything resolved down on the border, that there won't be a wall, and is that sort of emboldening folks to start making that move again? >> well, there are policy and legal changes that the secretary and the president are asking for from congress in this broader deal. and so we need to be able to quickly remove people who come here illegally. and so in the populations of children and parents who come with children, it's difficult for the government to remove them once they get here, so that's part of the reform -- charles: is that where you're seeing the big uptick? have those are the populations most concerning us. charles: thank you very much for your service. we appreciate it. i thank you for coming in today as well. >>ing thank you. it was a pleasure. charles: well, the government running out of cash quick, so so

lawmakers running away from the problem just as quick. after this, we'll also have more on those latest developments tonight, everything we're talking about here we'll talk about it more plus a very special guest, mike rowe. we're talking about new collar jobs, that's where it's at. we'll be right back. ♪ ♪ here's a question.

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to enjoy their extraordinary sound quality...is right now. discover hearing care beyond compare. attention aarp members. call hearusa today to find out how you can save an additional $500 off your next purchase of a pair of digital hearing aids. call us today. charles: well, lots of talk about immigration, but the government is running out of money. we're out of cash a week from today, and lawmakers, well, they're not even close to any long-term spending fix. news editor-in-chief terry jeff jeffries fears kicking the can down the road will put us in a

bigger mess. feels like that's the only thing they know how to do, terry. >> it is, charles. you know, the treasury has put out its new monthly treasury statement which has the tax and spending numbers for the first quarter of fiscal 2018 which is a year over which president trump and a republican congress had total fiscal control. they controlled both houses of congress, the president signs or doesn't sign spending bills. he's actually signed five spending bills as president now. but in that first quarter of 2018, the government ran a $225 billion deficit, just one quarter of the year, while taxing away more in individual income taxes than ever before in the history of the country in the first three months of a fiscal year, $390 billion in individual income taxes. so you have a republican government, charles, taxing more than ever, spending more than ever and continuing to run up that debt. charles: and that's not going to change because we saw with tax reform that there was nothing

about spending cuts. and, of course, it's always been a political third rail, but their argument was, hey, if you allow us these tax cuts and these low tax rates particularly now on the business side, 21%, it will generate enough economic activity that we'll start to whittle down that debt. is that a possibility? is that sort of the supply-side dream? do you see it working? >> well, i think it's -- i do believe that especially the business side of the tax cut will spur growth in the econom. i think it's already doing it. it was 12 years, since 2005, since we've had 3% gdp growth. i suspect in 2017 we broke that bad spring. we may well have had 3% gdp growth for the year. but even with that, the government spent too much and increased debt. and even though we had record tax revenue, they still have that debt. so unless they control spending, they're not going to be able to control the deficit x they're

not going to be able to bring down the debt. and the thing, charles, is not only will the republicans not deal with the massive, big fundamental spending issues like social security, medicare and medicaid, they won't even deal with little things. president trump in his budget proposal, to his credit, called for eliminating about 60 government programs and agencies. no more funding for corporations for public broadcasting, for example, legal services corporation being phased out, national endowment for the arts being eliminated. the republicans have done none of those things. and in the discussion of the cr, we're going to have to see by next friday -- charles: right. >> you haven't heard them talking about anything like that. they're not even talking about defunding planned parenthood. charles: there's probably going to be more spend anything the cr, a wall you've got to pay for. so we're actually looking at more spending. that gets me back to the original premise when steve mnuchin and others say, hey, let us do it this way. and to your point, 2005 was the

year, you know, third quarter of 2004 where president bush's tax repatriation plan went into effect, and it was around for a year. i think it's interesting that those are the last two years that america grew at 3%. so is there some hope we start to bring trillions back from overseas, we reignite this economy here and then somewhere along the line they find religion again or at least -- [laughter] they find their talking points and they actually say we'll go after some of these, some of these before these third rail issues? >> you know, i'm going to be brutally honest, i don't think so. i think we're going to see economic growth, we're going to see an increase in federal revenues. i don't think we're going to see fiscal discipline from the republicans. i've been watching these guys for a long time. when they're not in power, they talk really hard about rolling back government, about small government, about cutting spending. when they get in power, they do not do it. and if anybody understands the fiscal situation the country faces, it's paul ryan.

he understands it. he knows it. he's a smart guy. so far he's not using his speakership to do constructive things to deal with the fiscal crisis we're ultimate hi going to face. -- ultimately going to face. i wish he would start acting like the back bencher paul ryan now that he's speaker. charles: it's a lot easier to talk and for flex when you're nn power. thanks, terry, appreciate it. fiat chrysler and capital one the latest companies giving their employees bonuses because of the tax cut. leader nancy pelosi downplaying all of that. >> in terms of the bonus that corporate america received versus the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic. it's so pathetic. i think it's insignificant. charles: to "forbes" publisher rich carlgard and adam

lashinsky. all right, rich, do you think the democrats could be really risking at this point belittling too much? after all, this is the same nancy pelosi that touted a $40 benefit to citizens when it came from the obama administration. >> well, i think nancy pelosi betrays her elitism. she lives -- she's from san francisco, she's a wealthy woman. a $2,000 per year raise doesn't look like much to her, perhaps crumbs. but to somebody working at fiat chrysler though, that's a bag of groceries a week with. charles: adam? >> that's rich coming from a wealthy man coming from the san francisco bay area. look, i think that she should -- she doesn't need to focus on this being a sham. it is instant relative to the benefit that these corporations are getting. politically, however, it's not very smart of her to say that it doesn't mean anything to these workers, because rich is right, anything is meaningful to these

workers. charles: so what do you expect, adam? will they maybe somewhere along the line shift the narrative? i don't know that anyone thought we'd have this many companies coming out with these sort of benefit packages. think about walmart, for instance. no, immediately in response to the tax bill, you know, paid maternity leave, paid paternity leave, $5,000 for adoption. i think the democrats were caught flat-footed on that. >> i understand the point. i would point out to you, first of all, walmart raised its wages last year which was an appropriate business movie them. they're doing it again because the labor market is tight. they're not the only company that needs to raise its wages. and by the way, the lay wore market -- labor market is going to get tighter if the trump administration continues its battle against immigrants of all kinds, legal and illegal. these are just the realities of what's going on right now. charles: i don't know, rich, i'm also seeing an uptick in charitable donations. companies have pledged hundreds of millions to charity, they're funding pensions. they are doing things with this

tax cut that i really don't think democrats were prepared for, and i think if they keep pushing back against it rather than pivot and say it's not enough -- i'm surprised they haven't done that or try to give somehow the credit to president obama. finish. >> well, whether it's a pr move or whether, you know, whatever their motivations, it's a good thing. but the long term is what matters here. in your previous segment, the guest pointed out we haven't had 3% gdp growth for 12 years. perhaps we hit that mark in 2017. and for long-term prosperity and people getting raises not just in one year, but in many years and in tightening the labor market, that's the absolute key. charles: so, adam, where do we go from here? we've got some important issues right now and even some issues that will have an impact on the economy as well. do the democrats stick with resistance/obstructionism, or do they say, hey, we want to get something on the board in a bipartisan manner? >> well, i think that they would

do well to say that they, that they want to see corporations doing more rather than complaining about what corporations are doing. i also sort of agree with the narrative that the democrats need a younger, fresher perspective on approaching the voters that president trump was successful with in the last election even though he didn't win a majority of the vote. i think the democrats, by the way, have demonstrated that they will work with the president in areas where they can, and immigration being one of those examples. so i don't think they completely learned obstructionism as well as they might have from the republicans from the last administration. charles: all right, gentlemen. we have got breaking news. president trump says he will, in fact, waive sanctions, going to keep that nuclear deal intact in iran. rich, what do you make of it? >> i'm kind of disappointed. you know, i think iran is a bad actor, and i wish he would have taken a harder line. charles: adam? >> i think he's making the appropriate move because if he had reimposed sanctions, it

would have only helped the regime in its crackdown on the iranian people. this is a way of saying to the iranian people, we believe in you, let's work together. charles: at some point though, you think he should take away the waivers and everything, adam? if this uprising starts to fade or fail? >> at some point we'd like to the to move toward a situation where none of this is needed. that's the goal of this diplomacy, obviously. charles: all right. we'll see, because i think both sides have different goals. gentlemen, thank you both very much. well, the iran deal, as i told you, still on for now. so what's behind that decision? we're going to have more right after this. ♪ ♪ nah. not gonna happen.

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but when we brought our daughter home, that was it. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how. charles: breaking news, president trump extends economic sanctions relief as part of the nuclear deal. to fox news washington correspondent rich edson.

rich? >> reporter: good afternoon, charles. the trump administration, according to senior administration officials, will keep the united states in the iran nuclear deal for now. but senior administration officials are saying this is the last time the president will waive those sanctions, keeping the u.s. in the deal unless european countries -- part of this deal -- agree to make some changes to it. the administration is also increasing sanctions totally separate from the nuclear agreement on 14 other iranian entities. this is from the treasury secretary, steve mnuchin. he said we are targeting the iranian regime, including the head of iran's judiciary for appalling mistreatment of citizens including imprisoning and censoring its own people as they stand up in protest against their government. now, what the administration or wants according to senior administration officials both from european governments and congress is they want stronger enforcement, stronger inspections, they also want to insure that there's no sunset

clause to this agreement. this agreement tends to expire at the end of it, about ten years or so since it was signed in 2015. the administration wants to keep that on. they want a separate agreement with the european countries who would also agree in this agreement to reinstitute sanctions against iran if they didn't adhere to these new details that the administration's coming out with. but the european governments have been pretty reluctant, charles, to make any changes to this deal. they say the deal is working as is, and they have been pushing the president trump administration not to make any changes to it. trump administration saying you don't solve this in the next 120-180 days, agree to a separate agreement, we're out. charles? charles: rich, thank you very much. so the nuclear deal holds at least for now, but trump could still rip it up. to fox news national security and foreign affairs analyst walid phares. so is, walid, i think maybe three months ago, perhaps six months ago most folks in the intelligence community and most

observers in general would have thought this would have been the moment that we'd have gotten rid of this deal which trump voters vehemently despised from the very beginning, the way it was negotiated, the way it was executed. what do you think is driving the administration to give it a little bit more time? >> well, first of all, the fact is that the problem with the iran deal, the central problem is not the technicalities of the deal, although they're important. it's iranian regime. the reason for why the base is against the deal, why the president, many congressional leaders have criticized is deal is because of the bad intentions of this regime to bypass the deal, to buy missiles, to suppress their people. so i was not really surprised that the administration at this point said, okay, we're going give it a next six months. why? because something new came, and that something new are the demonstrations. there is a new window for a change from within iran. the so big question as you said in your intro is going to be

what is it that we're going to do between now and six months from now or or four months from now, three months from now so that we and our partners, the europeans and other partners, are going to force the iran regime to change behavior and then the deal, we could deal with it later on. charles: well, what does stronger enforcement and inspection look like? >> i personally have a different opinion. i don't think there is any enforcement that we can control 100%. you're not dealing with south africa or ukraine where they, if you remember in the '90s, came to the united nations and said please help us get rid of the nuclear material or weapons and so on and so forth. the iran regime will play with the europeans, with us to delay as much as they can our enforcement, get the money -- the $150 billion -- get the europeans to enter their market so the iranian regime will feel comfortable the next time we're going to discuss the deal, the europeans will be even scared to do anything about that deal. charles: so the idea as steven

mnuchin's statement with respect to going after his members of the judiciary and to your point, you've got what looks like the bubbling of an uprising there. how do we stoke that? how do we articulate, hey, we've held off on this, we're going after the people that are hurting you as hard as we can economically, but we want you to know that we're on your side? how do we get that message to them? >> that's the right strategy. we take a deep breath on the actual negotiations about the deal. we continue to speak with the europeans. we can talk about that in a second, but we tell the iranian people we are with you, and we show it. we show it with broadcasts, with internet, with forming an international coalition at the united nations, and there are so many ways we can help the iranian people, and they are waiting for -- for the iranian people, the priority is not the deal. the priority is really to support them in changing their government. so, yes, let the deal survive by itself on paper. we are working with the iranians to change their government or

then we'll be taking the lead on this one. then europeans will rush to us and say, okaying, if you want to change the government in iran, we may be with you on this one. so we could request from the european action on the missiles, action on the human rights issues. so i think the new direction by the administration -- though they need to proclaim it to the american public and to congress to understand -- is the right thing to do. charles: right. walid phares, very much appreciated. >> thank you. charles: well, relations with the u.k. just not okay. president trump ditching a visit to london, and the mayor hitting back after this. plus, a quick programming note. tune in to fox sports 1 tomorrow night to catch villanova take on st. johns. tipoff, 8 p.m. eastern time. ♪ ♪ oh, that's great sarah. let's talk about this when we meet next week.

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charles: president trump staying away fre u.k. the president canceling his london trip over bad 'ems bass city deals -- embassy deals, and the london mayor firing back. >> oh, boy, charles, this is interesting for a day of big news. the president was set to go to london at the end of next month to cut the rib bop on a brand new -- ribbon on a brand new u.s. embassy in london.

the president, though, putting out this tweet. he said: reason i canceled my trip to london is i'm not a big fan of the obama administration having sold perhaps the best located and finest embassy in london for peanuts only to build a new one in an awful location for $1.2 billion. bad deal. wanted me to cut ribbon, no. well, there you have it. the actual decision to sell the embassy was made by george w. bush back in 2008. it was true that the actual sale went through during president obama's term, but this decision was made long ago. but we did get some strong reaction, this from the london mayor, sadiq khan, who said, quote: many londoners have made it clear that donald trump is not welcome here while he is pursuing such a divisive agenda. it seems he's finally got that message. even more interesting though, charles, the day has gone on, more tweets. this one from bors johnson, the former -- boris johnson is, the

former mayor of london, now the u.k.'s foreign secretary. we will not allow relations to be endangered by some puffed-up, pompous popinjay in city hall, that's a conceit person who's very vain. theresa may's spokesperson saying donald trump is always welcome in the u.k. each though the -- even though the london mayor begs to differ. and let us not forget, charles, mr. trump has not been to the u.k. since he became president. theresa may was the first to visit him here, but he still has a state visit invitation from the u.k., and it has been accepted, and that would include visiting the queen, lots of royal pomp and circumstance but no date for that has yet been set. but this embassy scuffle certainly got some interesting tweets going. charles: yeah. so the popinjay, boris johnson is calling the mayor a popinjay. >> yes. like a peacock who likes to strut and is a little conceited.

charles: i've got tell you, this is absolutely fascinating. i will say this much, i've seen renderings and photographs of that embassy, my goodness, that is an amazing building. >> it is, it's beautiful. charles: i never knew we had a billion dollars to spend on an embassy, but they might have got their money's worth. >> they didn't own the last embassy, they owned what's called the leasehold. the actual grosvenor estates owns the old embassy, but you're right. this new one is beautiful. not as ritzy as the old location in mayfair, but the president would only go over there, probably, and cut the ribbon. it's not that big a deal, but he certainly touched off an interesting argument today. charles: of course, his back and forth with mayor khan has gone on even when he was candidate trump. >> ye. yes. charles: i think it's interesting because london is not all of the u.k., is it? i mean, isn't it, like, remarkably different? that's why you have breaks silt,

because it's sort of the -- brexit, it feels like you have the elites in london who think one way but the rest of the country thinks a different way. >> as london thinks, the rest of the country doesn't. it was overwhelmingly voted in london to stay within the eurozone, but those areas outside of london who consider themselves the real england, if you like, the real u.k., said, no, they wanted out. so what london says does not mean that's what the u.k. believes, that's for sure. charles: all right. next time i see stuart, i may have to use that popinjay. [laughter] i've got to break it out at some point. >> you can do it. charles: appreciate it. >> all right, charles. charles: meanwhile, the debate over clip to currency is gripping the globe as south korea is crafting crackdownings. jpmorgan's jamie dimon one of the biggest doubters. in fact, he once called it a fraud. he did backtracking with our very own -- backtrack with our very own maria bart bartiromo.

maria: you said it was a fraud. >> which i regret making. the block chain is real. the bitcoin was always to me was what the governments are going to feel about bitcoin gets really bad. and i just have a different opinion than other people. charles: you'll see the rest of that interview on wall street week, 8 p.m. eastern on fbn. that was tonight you'll see it. but first want to discuss it with market watcher joe duran. bitcoin well off the highs, it almost hit 20,000 a month ago, joe, but it's under the microscope. what do you think? >> well, i think bitcoin is kind of like the internet stocks of the 1990s. it's the first way that you can invest in something very important which is block chain, and the internet was a world-changing thing, and many companies were built and many, many failed in the beginning. block chain is a world-changing thing. it's basically the

commercialization of trust changes the way we will all interact in the future the way the internet has made the world a lot smaller. and it just so happens that bitcoin, maybe like a pets.com, was one of the easy ones to get invested in something that will change the world. it's not necessarily the winner very much like many of those first 1990s internet companies, the dot.coms, ended up not being successful, and you look at the move that kodak's making, it kind of feels similar and a little desperate. we'll get a pop and, in fact, they did. charles: sort of like the old days when you put dot.com behind your name. >> yeah, exactly. charles: is there room for one or two or even more cryptocurrency winners? what's the value, arguably, behind gold? what's the value in that painting that was just bought for $450 million? we know that the canvas and oil

were worth about $3.50. so, you know, if you have enough people who believe in it, buy into it and they sustain that, doesn't it become a store value? >> it does, absolutely, but it won't be -- the likelihood is there'll be several of them. but you can imagine a firm like jpmorgan or morgan stanley coming up with their own currency. i think there is a value to the currency, and i think that somebody is going to create a brand that allows you to trust them all because, ultimately, the faith and confidence of the people on each side of the transaction really matter. so again, it will be a winning strategy. there will be multiple different cryptocurrencies that will work because our future is going to be block chain-based. so the question is should people invest now? my answer would be, no, because you don't know what's going to transpire. charles: right. >> i would suggest you absolutely keep your eyes open. you make money investing in google more than you do in the infrastructure plays rather than

the underlying users because their subject to the same things that every company is. so, again, bitcoin is very volatile. you -- charles: there's no doubt -- let me ask you about wall street jumping in, right? you have these futures contracts now, you've got bigtime trading desks being built to trade this. is that a blessing or a curse for bitcoin where the allure was really that it wasn't a fiat currency, and it would maybe be buttressed against all of that, build a moat against all those things. >> i think it's a blessing and a curse. it allows you to invest in it in an easy way. it will also initially create a lot of people who should not be invested in it owning it and, ultimately, creates more liquidity which will be good. charles: okay. >> it's kind of like futures trading in wheat. a lot of people who are speculators come in and create a lot of noise and then, ultimately, it ends up being a useful product. it will ultimately be useful. a lot of people might get hurt

along the way. buyer beware. charles: we're running towards 26,000 in a flash, probably the thickest 1,000-point move at this pace ever. and i know it's different percentage wise, but this is impressive. how long can it continue? >> i think it can continue until probably mid march, and then people are going to be looking at their taxes and everything else. i wish it was not happening. i know it's great for all of us. we have 20,000 clients that are benefiting from this, so we're grateful. but it is starting to feel like final melt-up. it is sucking a lot of people in. but the reason we get these moves in the beginning is people are refunding their 401(k)s, their iras, so you'll see this probably last at least 6-8 weeks. i hope it doesn't get a little bit -- again, there's reason for the market to go up -- charles: right. >> -- but probably not at the pace that it is. so i hope it cools down just a little. charles: joe, thank you very much. appreciate it. one stock that is cooling down, facebook seeing its biggest drop

since 2016, losing as much as $30 billion in market cap. this after saying they're going to give more emphasis on the site to people rather than media content. wall street doesn't like that. ♪ ♪

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two,that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum -- just to help you improve your skills. boom! that's lesson one. education to take your trading to the next level. only with td ameritrade. ♪ charles: markets continuing their record run as 26-k now within reach. fallout tonight at 6:00 p.m. eastern on "making money."

mike rowe will be here. neil cavuto will launch a brand new show, cavuto live, breaking news from washington, and fallout for your wallet. now trish regan. trish: great that you have mike on. mike and i used to work together in san francisco. i bet you don't know it he is heck of an opera singer? charles: really? glad you told me. trish: he studied opera. he is great baritone. i hope i don't get him in trouble. tell him i said hi. charles: i will. trish: president trump denying he used vulgar language to describe certain third world countries talking about immigration. while the left goes insane, literally insane over the president's choice of words, moving away from what really matters, the bigger issue at hand, how do