tv Your World With Neil Cavuto FOX News September 4, 2017 1:00pm-2:00pm PDT
"your world" with lauren simonetti in for neil. >> lauren: thousands of americans picking up the pieces after hurricane harvey leaves a path of destruction behind. these pictures are sobering. now too so are the costs. i'm lauren simonetti in for neil cavuto. this is "your world." accuweather now predicting the damage from this devastating storm nearing $190 billion. that would exceed katrina, the costliest natural disaster in the u.s. history. peter doocy with more. >> before harvey hit and brought a flood zone the size of lake michigan to the lone star state, the costliest natural disasters in american history had been
hurricane katrina and super storm sandy. now a new estimate that says that harvey's damage could cost more than both of those combined. $190 billion is the total coast. now dr. joel meyers says that business leaders and major banks, the federal reserve should factor in the negative impacts this catastrophe will have on business, corporate earnings and employment. that's consistent with president trump's guess that there's never been a natural disaster like hurricane harvey. some businesses won't be able to get back the money they'll be losing the next few months as mold is removed and drywall is replaced. many businesses won't get the money they'll lose. part of the calculation is like
gasoline going up because harvey interfered with the normal supply process. then you have the cost of replacing houses and the belongings inside of them. that is something that harvey's victims will have the start doing as soon as they're allowed back. lauren? >> lauren: peter, thank you. harvey hitting as the news of the economy is growing. 3% gdp. strongest we've seen in quite some time. will that take a hit with the nation's fourth largest city taking a hit? thanks for being here. ashley, we begin with you. houston is a huge economy as an energy hub. will we see an impact nationally? >> we definitely will. this tends to happen with a natural disaster unfortunately where the economy's locally and nationally tend to take a huge hit. i hope that because the recovery efforts have been so immediate
and so strong, we've seen a massive outpouring from different celebrities and good samaritans to make sure people are taken care of. the effects of this will be felt for some time. we've seen that from fema. they've said that this will likely take a few years if not more than that before we actually start seeing some improvements. i think we can expect while the economy is on the rise this will have impact nationally and locally as well. >> a lot of people have to remember that houston is a third of the texas economy and texas a tenth of the national economy. packs a mighty punch. gary, do you expect this to have an impact on the national gdp? >> i disagree. i don't think the facts bare it out. the good news, obviously the devastation. having lived through something like this, i feel for all the people in the houston area. the other bad news is as you mentioned, this is a large
economy. it's an economy larger than poland. an economy that houses 23 of the top 500 fortune 500 companies. now, the good news is after hurricane sandy, which obvious devastated the new york-new jersey metropolitan area, the department of commerce concluded that there was almost no impact on the economy. what happens is, yes, people are not going to starbucks, tourism is hurt. the good news is, the money is diverted into construction, into new housing. in fact, in that area alone, there was a net increase in jobs for the short term. the economy will be a little drag in houston. nationally, almost no effect. when we're done, if you look at the gdp, you'd be hard pressed to pick out what happened there.
the devastation aside. >> as we put this in context, houston was a city that really did well when the price of oil started to go up, et cetera. they suffered when we saw the aisle price bust. they were just starting to recover. then you have the effects of this hurricane. will that affect them? >> no doubt about it. as you mentioned, houston and texas are an energy hub for the nation and the world as well. so when you have an economy that is really driven by one particular industry sector, it will have an impact. obviously we have refineries that have been damaged. a lot of refineries have been shut down as a result of hurricane harvey. so that obviously is having a district impact on the cost of petroleum and gas at the pump. that is going to be a cost that is passed on to consumers, making some goods and travel more expensive in the short term. the other aspect that will have
an impact, not just in the energy sector, but we have to remember that there are ports there. supply chains as well could be potentially impacted. that could have some lasting impact. but i do kind of agree that the impact we'll see is probably short the medium term nationally. longer in houston and throughout texas. >> ashley, do you worry that gary was just making a comparison to super storm sandy five years ago. let's go back 12 years. let's go to hurricane katrina. it hit new orleans. we saw residents move to houston. and now hit by harvey. do you see people changing their minds and saying we're not going to rebuild, we're going somewhere else? >> that's not what i'm sure of. there were a lot of structural problems with new orleans in general. even going back to visit, i went back, you can see a lot of the damage is still there. some neighborhoods haven't
rebuilt. most of it has. it's all about how houston recovers from this. can they structurally make it better so in case this type of flooding happens again, these affects wouldn't be felt as detrimentally as they were this time. i don't know the answer. it needs to go through the planning commission and figure out can they survive something like this again. i have friends that live in houston. they said they don't know when they can go back and return. i think the effects of this will be felt in the short term but in the long-term as well as to whether or not the city can recover from this. >> lauren: gary i respect your point. i hope you're right this disaster won't affect us as a nation economically speaking. we want the 3% growth momentum. i looking at the predictions and how dire this is be. moodies, $75 billion in property damages. $25 billion in lost economic output. the stores are closed, the
restaurants are closed. one analyst said the gdp will take a 1% hit. you think they're wrong? >> i do. if you look at any natural disaster, all the hurricanes in floor, all the hurricanes that have been in the past in the houston and galveston area, hurricane sandy as you point out was devastating to the new york economy. in fact, the tourism industry suffered there as i point out earlier. people adapt. yes, there's an impact for that area. what i'm saying is, look, some economists argued that the commit will park up because there's all these new jobs in construction. >> lauren: need cars. >> what happens is the net effect is almost zero. the money gets diverted from one area to another. people might not like to spend money fixing windows and de-flooding basements. i get that.
the effect on the economy flows but to different areas. >> money needs to flow from congress as well. >> lauren: let me step in here. another issue we're facing is 80% of the flood victims impacted by the storm don't have flood insurance. one homeowner telling me she got a rude awakening. >> when were you told you get a quarter of what you thought? >> last night we got a call from the insurance broker. she said i have good news for you. you'll get the maximum amount. i'm like going great. then when she tells me the maximum amount is less than a quarter of what our home cost, i'm going -- i had to hand the phone over to my husband. i continue believe that she was telling me that. >> lauren: how can people in this situation recover? more importantly, how do you prevent this from happening again? former fema administrator james lee whitt joining us right now.
good to see you. >> thank you. >> lauren: homeland security adviser tom bossert says the national flood insurance program -- this is how people get flood insurance, it has over $8.5 billion left in its coffers and we'll get through the claims. are you confident? >> they'll have to increase the line of credit. that will be there. they'll get through this. >> lauren: james, they're already $23 billion in the hole after sandy, after katrina. >> $25 billion i believe. >> lauren: so worse. you're still confident we have the money to handle these claims. what i've heard from people that have put claims in in the past, they're getting a measly amount of what they think that they should get, what their home is worth going forward, the federal program doesn't take into account paying people for lost business activity. >> yes.
there's lost business activity through sba that they can go to and file for. not just necessarily through the flood insurance. the sba handles that. i think every one of these people will be paid what they're supposed to get. i have no doubt about it. >> lauren: you think this storm is making people reconsider and builders reconsider where they're going to rebuild these structures that were lost or flooded? >> you know, many flood disasters that i've seen, if you remember the 93 flood on the mississippi river, we had nine states affected. we put in a program with the state's, local government called a volunteer buy-out program. missouri alone, we bought out over 4,000,5,000 homes. we turned it to parks and soccer
and baseball fields. in 95, the same area was flooded again and there was not one door spent on it. we did a cost benefit analysis on the relocation and every dollar spent saved $5 in future losses but saved lives as well. so this is something that the communities will have to think about. what is the best solution going forward, where we build and how we build. it may be they build more retention ponds on the bios that run through there. but there has to be a solution to come up with to keep people from going through this again. >> yeah. a city like houston, james, you have a lot of concrete, right? that doesn't absorb the water. james, thank you. >> exactly. >> lauren: coming up, urgent calls for congress to provide disaster relief and they finally return to work tomorrow. if they hold this up, is the rest of the gop agenda also on hold? plus, you might have noticed,
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generation opportunity to deliver real tax reform for everyday americans. i fully committed to working with congress to get this job done. and i don't want to be disappointed by congress. you understand me? >> lauren: a new fox news poll finds most americans do want tax cuts but they doubt they'll happen. so are tax cuts in the cards for this year? are they in or out? carrie sheffield is here with us. the ladies show today. carrie, i'll start with you. do we get tax cuts in 2017? >> i think so. and this is what we need. the heartland has been hurt. we've had jobs fleeing the country, money lost overseas. we need the money back. we'll do it through tax cuts. i'm so disappointed with what is happening with mitch mcconnell. he has to get more energy, get
the bill passed. it's possible. the other thing, i know the democrats are going on capitol hill. president trump should twist some arms. he has left field ridge. he won 8 or 9 states of senators that are up for re-election. they're vulnerable. >> lauren: and he basically said, okay, congress, it's up to you. if they do get tax reform done this year, he can pat them on the back. if he doesn't, he can blame somebody. did he give himself cover? >> he's trying to give himself cover. what is really important here, trump and the republicans desperately need a legislative win here. i commend him for getting his boots on the ground and get the word out. however, this is a uphill sell for the american people. half of the american population won't be directed by this. 10% of income earners pay 71% in taxes. so if i were to advise trump
here, if he wants to move this forward, take a page out of jfk's playbook and talk about how every dollar spent will help all. if he does not do that and this legislative agenda does not get passed, then the republicans will have a big uphill battle when it comes to mid-terms. >> lauren: a lot of americans don't know what a tax cut feels like. it's been three decades since we got one. my argument would be, why can't this be a bipartisan issue and we can get ate deal done? >> that's exactly what ronald reagan did. he worked with a democratic congress to pass it. it's so important. the republicans have to get their stuff together. republicans own -- run both houses of congress. i don't understand why this is not possible but it's true there are vulnerable democrats that they need a win themselves if
they want to preserve their seats. i hope the president will put some leverage on the democrats and say you know what? we need this for everyone. >> the president trying to sell the plan right now. we give him credit for that. the backdrop, the forefront, you do have hurricane harvey. wendy, do you think tax reform or any part of the agenda gets pushed back because we're dealing with a natural disaster? >> that could be a possibility. it will be a missed opportunity for the republicans. because right now the markets are right. wall street is looking great for this tax reform to happen. this is a time to do it. again, this is not something that we want to do going into the mid-terms. they have to pass this. again, lives have been lost. harvey have completely devastating the texas gulf coast. if that is something that seems as though it's a priority, i have to tip my hat to them. we have to make sure our fellow americans in the gulf coast are okay. if the legislative agenda when it comes to tax reform has to be put on the back burner, think i
harvey is okay to take over that. >> you should do both. if you want to rebuild houston, have just businesses coming back to life, springing back up, the best way to do that is through tax reform. >> lauren: ladies, thanks so much for your time today. harvey hitting drivers with higher gasoline prices after refineries shut down. the question is, how long will the higher prices last? and here's where prices are lower. whole foods after amazon bought them. great news for shoppers. what about the workers? we'll be right back. that's mom taking care of business. and with the "25 cent event", office depot officemax takes care of mom! now, all this just 25 cents each! ♪ taking care of business but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.
acquisition closes. could amazon's takeover slash jobs as well? joining me now, political commentator danielle mclaughlin. we'll start with you. i got really excited when the avocados were cut in half. went from $3 to $1.50. this would have been a healthy labor day barbecue, right? for the whole foods items. >> right. i was going to say, you and me and the hipsters with the avocado toast, everybody is thrilled about it. >> avocado lattes. >> i'm not a hipster. >> this is great to see lower costs on good high quality food. it's a wonderful thing. we're never going to see whole foods be a kroger or walmart. that's not going to happen. but anything that happens or anything in the market that will allow consumers to access good
quality food is a good thing. >> lauren: one way to cut costs is to cut jobs. michael, do you expect -- amazon is really good. you expect automation here to slash human jobs at whole foods? >> so far they said automation will not necessarily cut jobs at the whole foods stores. i think it will. pwc did a report and that said in 15 years from now, 38% of jobs that are currently done by humans might be done by robots. a high number. i don't think we're in any trouble of hitting that yesterday. the high reality is they will probably cut jobs. they brought on boston consulting group in june and had to trim $300 million. a part of that will probably be employees. >> lauren: every company says we're doing the technology things but no humans will lose their job. >> that nice talking point. the reality is eventually something will happen.
>> lauren: number 2, if you ask teens, a recent study, three and four teens and their parents are worried about not having a job because of robots. what kind of classes do you take? how do you prepare for a future that we don't know what it looks like? a great question. i have a 2 1/2-year-old. think about the same thing. jobs of the future will be different than jobs that we have. the rise of a.i. will mean that things that we thought could only be done by a human will only be done in some way, shape or form with the assistance of automation. so i think people have talked about this merger and the role of the government in it. but i think the big take-away here is the role of the government in creating jobs of the future and looking to the future and helping children of today, college graduates of tomorrow to find a way to achieve and find economic security and the jobs that will still exist and the new jobs that will exist as technology is
a bigger part of our lives. >> lauren: michael, you think this is the role of the government? >> no. the role is to empower businesses to train employees in a different way and create different types of jobs. i don't think the onus is up to the government. it's up to the business to have the responsibility to keep that training and make sure that employees are getting what they need to compete tomorrow. >> lauren: what does that look like? do we have to take robotics classes so if you don't know how to design a robot you don't have a job? >> the good news is that you and i probably don't have to take robotics classes. >> lauren: i can't do that. my brain doesn't work like that. >> we won't do it. what will matter, human connection. the thing you can't replicate with a computer. the ability to have a conversation and express to understand. these soft skills in the past were looked at are now more important than ever. everything that can be automate leaders be automated and it's up
to humans to be human. >> people will crave that human connection. it's so absent. thank you. good to see you. >> great to see you. >> lauren: coming up, harvey hitting drivers over the weekend. why prices could be heading higher for a while. polo! marco...! sì? polo! marco...! polo! scusa? ma io sono marco polo, ma... marco...! playing "marco polo" with marco polo? surprising. ragazzini, io sono marco polo. sì, sono qui... what's not surprising? how much money amanda and keith saved by switching to geico. ahhh... polo. marco...! polo! fifteen minutes could save you fifteen percent or more. polo!
i'm glad my doctor prescribed lyrica. for some, lyrica delivers effective relief for moderate to even severe fibromyalgia pain. and improves function. lyrica may cause serious allergic reactions, suicidal thoughts or actions. tell your doctor right away if you have these, new or worse depression, unusual changes in mood or behavior, swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling, or blurry vision. common side effects: dizziness, sleepiness, weight gain, swelling of hands, legs and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who've had a drug or alcohol problem may be more likely to misuse lyrica. with less pain, i can do more with my family. talk to your doctor today. see if lyrica can help. >> live from america's news h d headquarte headquarters, i am ed henry.
north korea yesterday conducted its six and most powerful nuclear test yesterday. president trump likely to announce tomorrow he's ending the daca program but with a catch. a six-month delay. daca protects kids whose brought that brought them to the country illegally. officials with kensington palace announced today prince william and his wife kate are expecting their third child. the couple has two children. i'm ed henry. now back to your world. for all your headlines, log on to web web. >> lauren: drivers could be paying more at the pump after hurricane harvey shuts down oil refineries, destroys gas stations and now gas lines. to jonathan hunt on the west
coast following it all for us. good to see you, jonathan. >> lauren, it's obviously a minor financial inconvenience compared to the terrible pain that so many people in texas are going through right now. but all of us are likely to be feeling the effects of harvey for a couple more weeks when we go to gas up. prices have been rising and could go anywhere from 10 to 25 cents a gallon higher depending on where you live as a result of refineries along the texas and louisiana coast being shut down and the colonial pipeline which carries 40% of gasoline closing because sections were under water and needed to be inspected. drivers are hoping prices don't climb much further. >> hopefully there will be a mechanism in place to not let it get wildly out of control. i expect to see a little uptick
in that. >> when the supply goes down and demand stays the same, prices will go up. so i get it. >> and while mother nature may be the root cause of the increase, many drivers place the blame on the corporations. >> it's horrible, this is a time for all of us to come together and including big corporations. it's horrible what they do to people. >> i don't think it's fair. it sucks. this is not the time to do it, especially when people need the resources to be able to take care of themselves. >> in a bid to contain that consumer anger and prevent prices rising too much further, rick perry announced at the end of last week that 500,000 million barrels of crude would be released from america's
stockpiles. lauren? >> lauren: thanks very much. we discuss how long drivers could feel this impact of hurricane on their wallets. we have phil flynn here with us. he said be prepared for months of higher prices. so this isn't a short term thing. this will last for some time. >> it is. i hate to be the barer of bad news but you don't fix the problems overnight. it will take weeks to get the refineries back on. even though everybody is doing everything humanly possible to bring things back online. nobody hates higher energy prices than people in the industry. they're heart broken because it's their families in houston that have been hit. the heart of the u.s. energy industry took a huge hit. not only are they dealing with personal issues of what happened with the storm, you know, they
have to go to work for the good of the rest of the country. >> jonathan was mentioning at the end of his piece, phil, about the administration tapping 500,000 barrel from the emergency reserves. that's a very small release. do you think that will increase and do you think that will have any effect on the situation? >> i think it is. i think they're going to do it. the refiners are going to make request to the strategic petroleum reserve and everyone will be approved. the refiners not online, it doesn't do them any good to ask for crude oil if they don't run it through the refinery. it will come in bits and pieces. they will probably release gasoline supplies from the northeast strategic reserves. it's only a million barrel as day. we consume nine millions a day. >> lauren: a tenth of what we need. >> right. >> lauren: with your experience here, how difficult is it to get
a refinery going again? say there's no structural damage. can they get it going quickly or is this a process? >> yeah, it's a process that they can get it going in a couple days. really can. if there's no damage to the electricity, no damage to the infrastructure, just a couple of days. but it takes time to inspect things. restarting the refinery is a very dangerous process. that's when they can explode if you're not careful. sometimes it takes longer. >> lauren: if there's structural damage, we're talking months, right? >> many months. yeah, months of higher gasoline prices. i don't want to panic people but this is a major shock to the energy industry. the good news is, we've been producing a record amount of gasoline and kept prices coming off historic lows. even though the prices are high, it's not as bad as it could have
been. >> lauren: we've seen a surge in wholesale prices. the price of oil historically low. right? >> it is. it really is. that's been the good part of the story. keeping the prices -- but even the price of oil could go up if the price of gasoline goes up. refiners will have to pay more for oil. the problem refiners need a specific kind of oil. there may be a lot of sweet oil out there, but not a lot of sour. that's why we have to rely on the strategic reserve to make sure the refiners get what they need. >> thanks, phil. >> thank you. >> lauren: the best thing out of this tragedy is how people are coming together, neighbors helping neighbors in a time of need. on this labor day, we want you to meet the business guy whose actions are helping hundreds who have been torn from their homes.
how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. >> lauren: hurricane harvey may have passed, but the troubles are far from over for the thousands of victims.
companies and celebrities from across the country have opened their hearts and wallets to help those in need. deidra? >> companies are coming and people are coming and they're getting the attention of houston's mayor. >> a number of people have stepped up. i can't be more pleased that our corporate leaders are really stepping up in a major, major way. not only in terms of their financial contributions but in terms of supplies and clothes, formula, you name it that many of the people in our shelters need. >> so lauren, one of those retailers is walmart, which is donating about $20 million to the relief effort. supplying kayaks to help in the rescue. some businesses are donating money but others are helping in different ways. anheuser-busch pausing beer
production to can water. and some mcdonald's providing free meals to first responders in some of the affected areas. even celebrities and athletes are stepping up. beyonce vowing to support victims saying i'm working with my team at baygood and my pastor to implement a plan to help as many as we can. defensive end for the houston texans, j.j. watt creating a fund that has raised millions of dollars for harvey victims. a lot of people coming together, lauren. >> and the president, deidra, donating a million dollars of his personal money. good to see you, deidra. thank you. after tragedy strikes, we see how important the government is. what is obvious is how much more forceful powerful and immediate a citizen army can be. neil cavuto spoke with a houston
furniture owner that took in hundreds of people that were displaced by hurricane harvey. >> well, a houston furniture store owner opened two showrooms to provide shelter to some of the thousands homeless. sir, very good to have you here with us. >> hi, neil. how are you? >> i'm fine. what a remarkable guy you are to do that. what made you do it? are you hearing that options were few or what? >> during hurricane katrina, a lot of people evacuated to houston. we slept 200 people during hurricane katrina. sunday, i couldn't get out of my house for three or four hours because of the two to three feet of water. we started getting calls and texts from people trapped in their homes. we have box trucks that could go
through three or four feet of water. we picked up people, brought them to the store and made this store and the store in west houston shelters and had about 400 people for three nights at each store. >> incredible. what made you do it? >> it was the right thing to do. we all have the responsibility for the well-being of our community. that's our company culture. we decided that people are more important than profits. people were hurting. the city and state and the county could do so much. we rescued people out of homes where they had four or five feet of water. we rescued them from bridges and convenience stores. we brought them out here because, you know, these are our people. we have to take care of them. >> how did you set things up so fast between beds and meals? you had a lot of friends and
work together. wu you did it quickly. >> this is our great staff here. our staff are the heros here. both stores have big restaurants in them. have lots of mattresses on hand and lots of sofas and recliners. once we got the people here, it was easy. sunday was difficult with food. but we got back open with our distributors and got the food. people were great. all volunteers to help clean up the store and keep things nice and neat and working the restaurants. it was a uplifting experience for all of us. there were no republicans or democrats. texans trying to help other texans and that's what we think it is about. >> they could be there awhile, right? >> a lot of them have already gone home. they want to get back to their
homes and redo their homes and apartments, a lot of them are still here but a lot have gone home already. >> remarkable test of the human spirit and your generosity. thanks very much. very uplifting for a lot of folks. >> thank you, neil. >> be well, my friend. >> lauren: and i think they got a good night's sleep. those are nice mattresses. that's america, neighbor helping neighbor and stranger helping strange. we'll be right back. this is a story about mail and packages. and it's also a story about people and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business
that we've seen since the electi election, which has been unbelievable? >> if earnings weren't so good, i think that equities would have corrected. we have not seen a correction. the trump trade priced out of the treasury market and the trump trade priced out of the dollar and the effects markets. but i don't think there's the trump trade anymore in equities. if we get a tax, if it's term or permanent, equities go higher. >> lauren: how high do they go? >> my analysis says corporate tax rates from 39.6, which is the all-in takes rate that we're at, x is uncompetitive at a global level, ireland is 12.5, if we get that down to 15, 20,22%, we have the s&p. but the corporate tax rate is so potent, lauren, can it takes the s&p to 2900 or 3000. >> that's unbelievable.
heather, do you think tax reform is priced into the markets and if not where do you think stocks are going? >> i think that the markets are growing to go down if we do not get tax reform. middle americans want tax cuts. it's not just for the wealthiest in terms of ryan's plan and trump's plan that is coming out. the markets are nearing all time highs right now. that's the next hurdle that we need, the legislation to propel us to higher levels in dow and the s&p. otherwise, it's not happening. >> it's interesting. when the president was framing his pitch for tax reform, he said if you want an economy that is growing at 3-plus percent, the catalyst is tax cuts. >> look, i think it's not only the tax reform but also the
spending reform of government. government spending has been shooting to the moon as of late. that has to change. let's do back to the election. the day after the election, the market shot up, broke out and has not stopped ever since. there is no doubt in my mind that if all these expectations of all these things getting done don't getting done, the market will pay a stiff penalty, whether you have 0% interest rates or not. >> lauren: heather, seems like the only thing that has moved the market to the down side is the threat from north korea. even with that, investors are able to overcome. the issue is belief in congress. a new fox news poll out. >> it is. we have slugged off a lot of geo political tensions. i'm assuming the fox news poll has said that all eyes in terms of the stock market performance are on d.c. and legislation getting passed. republicans need a win in order to be re-elected in 2018.
it's not just a positive for the markets. we're looking at americans in general and our paychecks, higher wages, more jobs, economic growth. if you want to be re-elected from your constituent, you're a republican, you have to get this done. >> lauren: gary, let's say we don't get meaningful tax changes in 2017. does the market correct itself? >> oh, heck yeah and the market will be looking forward to nancy pelosi speaker of the house in 2018. i don't think the republicans lose the senate. if they lose the house, look out. all of a sudden you know nothing gets done. when the market knows something, trouble ahead. >> gary stocked up on gold, guns and cash. >> yeah, i don't think -- this is my perspective. i don't think anybody is expecting a comprehensive tax reform by year's end. the government has a
responsibility, it's entirely republican. so the governing party, the republican party, should come through with what the people elected them to do. immigration reform, tax reform, deregulation. if they don't get it done, they will face the wrath in 2018, but not in the senate. >> lauren: well, it's back to business this week for our lawmakers. katherine, heather, gary, great to see you. >> thank you. >> lauren: next, helping the victims of hurricane harvey. love with moderate to severe rheumatoid arthritis? do what i did. ask your doctor about humira. it's proven to help relieve pain and protect joints from further irreversible damage in many adults. humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. humira has been clinically studied for over 20 years. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers,
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>> kat: hello, everyone. i am kat timpf with eboni k. williams and jason chaffetz. this is "the fox news specialists." a lot of major news unfolding. the shock waves from north korea's sixth nuclear weapons test over the weekend and warnings of a new test of an intercontinental ballistic missile. national security correspondent jennifer griffin joins us. >> for now it looks like the u.s. is opting for diplomacy with last-ditch efforts at the security council. >> enough is enough.