American public is bracing for something ‘ugly’: Charles Payne

just a tiny bit of red ink all around

nine down on the Dow 24 down on the

NASDAQ four down on the S P that's not

much movement some red Charles Payne

with me this morning I I got a feeling

that this Market rally not today's but

the recent reality is on the back of A.I

is that right the vast majority of it

because it's only 15 stocks and most of

those stocks are in or around listen

Nvidia is the number one winner this

year meta is not necessarily AI but

believe me they'll talk AI That's where

they want to go Google Google's made

this 20 move uh this big move this week

because they're back in the AI game they

got 40 000 Engineers that finally might

be getting it right well can I interrupt

you for one second tell me what you

think I bought Google yesterday after

the five percent run up Sir no I'm on

Google as well laughing at me no no it's

ironic just about two weeks ago I had my

subscribers by Google as well they're

going to be formidable for they get 92

percent of searches right this thing

learns on itself yep that's the

advantage they have over Microsoft and

everyone else it's a learning machine so

as people Google things their AI will be

able to catch up and surpass quickly

wait a second I've switched from Google

search to Bing

well you already have Microsoft they use

AI on Bing and I notice it I mean it

seems to recognize my searches more it

moves me quickly to it it's amazing it

really I mean this this whole AI thing

is really really amazing there's a firm

based out of Canada that says now we're

at 50 50 whether or not the only

humankind at some point and they're

serious about this this is how much of a

threat it is but let's make money first

and then we'll worry about survival

that's it cyber security that's another

area which seems to be lifting off it's

AI because people need security when

you've got AI running loose you know

it's a hell of a combination right

imagine AI in the wrong hands I don't

know that there's any systems out there

that can really compete and we always

know that the the bad guys are one step

ahead anyway but to be one step ahead

with this sort of a tool this sort of a

weapon it's scary stuff so yeah that's

almost every business out there is going

to have to retrofit or enhance their

security to a major degree have you got

a cyber security stock that you that you

use your subscribers Palo Alto networks

yeah yeah and and fortunate ftnt has

been coming on real strong as well okay

Regional banks are they another now

another threat and they're mostly down

this morning it's not a monuments a

crash that's not happening but is are

they still a threat I don't think

they've ever been a uh I don't think

there's ever been a systemic risk they

built that up so they can have an excuse

to bail out the depositors of Silicon

Valley Bank not Silicon Valley Bank but

their depositors billionaires who donate

to the Democratic party okay and that's

where they blew this whole thing because

they have tried to Rally around the

notion that you're going to be selective

with respect to bailouts and then

treasury secretary Yellen made things

worse she went on out there a couple of

times and just said yeah certain Banks

we will take care of all depositors in

other words the big Banks and so they

have actually really make this a lot

worse than it had to be by the way your

my take was great and you said you have

a sense that things are falling apart I

do I do about 30 minutes ago to

University of Michigan sentimentary came

out it's crashing so so bad really yeah

I didn't see that you're in expectations

for the economy plummeted 23 from last

month from last month whoa that's huge

it's in free fall the American public is

bracing for something ugly and

ironically they don't see inflation

going away inflation expectations

actually edged up so the American public

thinks inflation is going to be embedded

with a combination of those who you know

of recessionary pressures like the

ultimate one-two punch

very interesting I'm glad you brought

that to us I missed that I appreciate it

just came out just 30 minutes 30 minutes

ago I still missed it all right Charles

thank you we're going to watch you today

what is it two o'clock Sheila bear my

special guest really yeah she's got a

way to fix this this banking crisis okay

I'll listen two o'clock Eastern right

here on Fox Business thank you