Charles Payne WARNS of possible RECESSION

[00:00:00] Speaker 1: STOCKS TUMBLED TODAY AFTER YESTERDAY'S POST-MIDTERM HIGH, WIPING OUT WEDNESDAY'S BIG GAINS WITH STOCKS IN DATA CENTER COMPANIES TAKING MAJOR HITS. THE DOW LOST 1,833 TODAY. THE S&P 500 FELL 335. THE NASDAQ ENTERED CORRECTION TERRITORY, DOWN 1,422. THAT IS THE WORST DROP IN 19 MONTHS. [00:00:30] Speaker 2: SO THE SELL-OFF TODAY, I THINK, IS A CONFLUENCE OF A NUMBER OF FACTORS. ONE IS CONCERNS ABOUT FINANCING OF DATA CENTERS AND THAT'S BEEN EXACERBATED BY THE BLUE TSUNAMI IN CONGRESS. [00:00:45] Speaker 3: YOU MAY SEE A CHANGE OF ZIP CODES WHERE, YOU KNOW, THOSE DATA CENTERS WILL BE BUILT. BUT FROM A TECHNOLOGY STANDPOINT, YOU CONTINUE TO HAVE DEMAND. [00:00:56] Speaker 1: THOSE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA. THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS. [00:01:35] Speaker 4: IT'S A TOUGH ONE SO TO PUT IT IN CONTEXT RIGHT IN OCTOBER AND WE TALKED ABOUT THIS ON ELECTION NIGHT, OCTOBER 6th, END OF OCTOBER 30th, $5 TRILLION WIPED OUT OF THESE AI STOCKS. THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS WILL BE BUILT ON THE DATA CENTERS. WE'VE GOT A LOT OF PEOPLE WHO ARE ON RECORD WHO RAN AGAINST DATA CENTERS AND WE'VE GOT THIS PERIOD BETWEEN NOW AND WHEN THEY'RE SWORN IN AND IT'S A DARK CLOUD. NONE OF THEM HAVE SAID BAN BUT THEY'VE ALL SAID MORATORIUMS. THEY'VE ALL SAID ENOUGH TO MAKE WALL STREET JITTERY AND CONCERNED ABOUT HOW LONG AND WHEN THIS MIGHT BE OVER. IT'S THE CONFUSION, IT'S THE ANXIETY, IT'S THE UNCERTAINTY FACTOR. YOU COUPLE THAT WITH SOME THINGS THAT HAVE BEEN IN THE AIR AS WELL. I THINK ONE OF THE VIDEOS SHOWED A GENTLEMAN TALKING ABOUT FINANCING. THAT'S BEEN A CONCERN. RETURN ON INVESTMENT, THAT'S BEEN A CONCERN. BUT I THINK WHAT TODAY'S SESSION SHOWED, THIS MORNING THE S&P WAS UP, THE DOW JONES INDUSTRIAL WAS UP. AND ALL OF A SUDDEN WHEN THE BOTTOM FELL OUT OF THESE AI STOCKS, EVERYTHING WAS DOWN. THERE WAS NO PLACE TO HIDE AT ALL. AND I THINK THAT'S THE DANGER HERE, BRETT. AND IF IT LINGERS TOO LONG AND IF THE RHETORIC BECOMES REALITY TO THE EXTREME, IT WON'T JUST BE RED ON THE SCREEN. WE WILL BE TALKING ABOUT ECONOMIC RECESSION EARLY NEXT YEAR. [00:03:06] Speaker 1: YEAH. WELL, TO THAT POINT, BLOOMBERG HAS THIS PIECE, DEMOCRATS WIN, THREATEN AI TRADE, DATA CENTER BOOM. THE RESULTS ADD A POLITICAL DIMENSION TO AN ONGOING WALL STREET DEBATE. FINANCIAL CHIEFS ARE DIVIDED SOMETIMES AMONG EACH OTHER AND SOMETIMES EVEN WITHIN THEIR OWN MINDS AS THEY TRY TO GAUGE WHETHER THE PROMISED BENEFITS WILL ARRIVE AS BIG AND AS SOON AS PROMISED. YOU KNOW, THIS DEMOCRATIC CLASS COMING IN IS SPLIT. THERE ARE MODERATES, THERE ARE BUSINESS PEOPLE, THERE ARE ALSO PROGRESSIVES ON THE LEFT. ONLY A FEW OF THEM REALLY RAN AGAINST DATA CENTERS SPECIFICALLY. I GUESS YOU COULD SAY SHERRID BROWN IN OHIO, A FEW OTHERS. BUT THERE'S ALSO THE GOLDEN GOOSE HERE AS FAR AS WHAT THE ECONOMY IS DOING, RIGHT? [00:03:48] Speaker 4: RIGHT. LOGIC WOULD SAY -- AND BY THE WAY, WE'RE TALKING -- WE NEED TO FOCUS MOSTLY ON GOVERNORS. BECAUSE THERE'S NOT GOING TO BE A NATIONAL POLICY. IT'S GOVERNORS. AND ALL OF THESE GOVERNORS OUTSIDE OF BUYING DONALD'S WHO ALSO HAS TO THREAD LIGHTLY RIGHT NOW ON DATA CENTERS THE GOVERNORS WHO HAVE PROMISED SOME FORM -- OUTSIDE OF ARIZONA HAVE PROMISED SOME FORM OF SLOWING DOWN MORATORIUM OR EXTRACTING MORE. BUT TO YOUR POINT, TEXAS IS THE EPICENTER. AND THE GOVERNOR-ELECT THERE, I THINK SHE'S GOING TO BE MORE PRAGMATIC. I THINK SHE'S GOING TO BE MORE MODERATE. YOU KNOW, I'VE SPENT THE LAST 24, 48 HOURS RESEARCHING HER MORE, LISTENING TO PAST INTERVIEWS WITH HER. AND THERE'S NO DOUBT SHE'S GOT A CHIP ON HER SHOULDER TOWARD THE TECH TITANS. BUT IT'S THE GOOSE THAT'S LAYING THE GOLDEN EGG FOR THAT STATE. AND IT'S ABSOLUTELY PHENOMENAL THE ECONOMIC OPPORTUNITIES THAT ARE THERE AND THAT WILL BE THERE IN THE FUTURE. SO, YES, SHE'S GOING TO COME IN. SHE'LL HAVE A MORATORIUM. BUT SHE'S ALREADY SAID THAT ANYTHING THAT'S ALREADY IN THE WORKS, THEY WON'T STOP. I THINK SHE'S GOING TO HAVE TO ARTICULATE THAT BEFORE HER INAUGURATION. I THINK SHE'S GOING TO HAVE TO REALLY CALM NERVES. IRONICALLY, THE GOVERNOR OF TEXAS, THE GOVERNOR-ELECT OF TEXAS IS PROBABLY THE CENTRAL FIGURE RIGHT NOW TO STOP THE BLEEDING ON WALL STREET. [00:05:02] Speaker 1: THE GOVERNOR. I THINK SHE'S GOING TO TALK ABOUT IT. WE HAVE MANY MORE QUESTIONS ABOUT POLICY IN WASHINGTON AS THE DEMOCRATIC CONGRESS TAKES OVER ABOUT TAXES, ABOUT INVESTIGATIONS INTO CORPORATIONS, ALL OF THAT. THAT'S YET TO COME. CHARLES, THANKS. THANKS. THANKS, BRETT.