happily came here we're liberals and conservatives are eager to debate. that is our show everybody. a roiraq on the brink. is our economy on the line. the chaos already hitting oil prices and lots of stocks here. just how bad could it get? hi, everyone. this is bulls and bears. here they are. the bulls and bears this week. okay. do you think the chaos escalating in iraq could rock us in the u.s.? >> i do. i do. i think there's two facets. one is the oil prices. you know, which is kind of in the headlines right now. that's like a tax on the

company. if oil prices go up, it's a tax on the consumer. so we know that's going to be a negative effect. we have already seen the price of the oil stocks rising. as the oil stocks rise in this case, i think it hurts the economy. the second part is the effect on the stock market, which i think could be bigger. the economy could steer through this, unless it breaks out into a total world war kaoeubld of thing, which i don't think it's going to. but the effect on the market, the market has had a pretty good run since september of last year. i think it's a little frothy right now. it is looking for a max to set off the tender. if this breaks out and we have to send troops, even though president obama said we weren't. if we send in drones, arnold tilly, munitions, i think it would spook the market. we could see a selloff. >> what order? >> i'll tell you what, if it really escalates and we get

involved, russia gets involved, that kind of thing, we could see a 20% drop in the market. >> so bear market? >> yeah. >> this may be tough for the market and the economy. but long term what do you see? >> i don't think it will be a long-term situation. vietnam fell apart. we lost that. it probably looked bad at that point as well. at the end of the day, long haul. they became a market economy and became a productive member of the global economy. that's one tphareo that will happen in this area. and leading to the world war scenario, i don't think a crazy ideology without a strong economy is a world threat. you can see terrorists. they built up for world domination. they can't build the militaries that would attack the world. i don't think that is a scenario we need to worry about and spend

money fighting against. i'm not saying we shouldn't fight terrorism but to take out a world economy is a stretch. >> this is pretty brutal out there. this is escalating. what do you think it could do to our economy? >> i think it's right. it matters what happens and how this escalates. i've been going to iraq since 2003. ever since i've been going there. the last time i went a few years ago people thought this would be a probable outcome. that you would end up in a civil r, the kurds in the north, sunnis, and the shia in the south. they are basically autonomous. the bad guys in the middle. you have 3.3 billion barrels of

oil. long term it depends how this escalates. >> but iraq is opec's second biggest producer of oil. tracy, gary b. made a good point. he said if oil prices spike, gas prices go up. wages aren't going up. our economy is not that good. what does that mean? >> i was surprised that the markets finished slightly up 40 points on friday. going into friday, i saw people would be a little more scared and sell off with the unknown of what happens over the weekend. it's a little more resilient than we are giving it credit for. bren brenda, the biggest story, you're right, is oil prices. even if it's 10 cents a gallon. if your hourly wages aren't increasing, it cuts into your discretionary spend. it cuts into everything. and this economy is slowly starting to get better. that could be what we're looking for. it could be brought to a screeching halt. >> they did mentioned markets

were up slightly on friday but down for the week. and this, as you say, they have been frothy. this is the kind of thing that could spook them. >> yeah. exactly. look, i don't think anything major is going to happen. we were talking about world war ii and hitler. i don't think we're in that scenario, but we don't needcena. earnings were okay. the fed has been on the sidelines. there's nothing out there. look at the volatility index. it's been at all-time lows. there's no volatility. really every little thing. even though it sounds like a little thing, it could spook the market and give people an incentive to say i don't know what's going to happen, as tracy said. so i'm going to sell and take all these stocks that have run up. that's my fear. >> it goes beyond that, doesn't it? it's not just selling stocks. this hits consumer confidence.

it hits retail sales. it's hits a whole number of things, this kind of uncertainty. >> it kind of sets you back. it goes back to what we talked about here so much. it failed administration policy. whatever your thoughts on going into iraq in the first place, there's a pretty large consensus we should have left when we did. here we go again. sales. administrative policies. it gives you back that, uh, not again. i don't want to get involved. i don't want to be a part of this market. there's no volatility. no one is doing anything. it's indifference or uncertainty. i don't know what you want to call it. but everyone is watching from the sidelines. >> if you don't think y're in the market at home, if you're not buying stock, the truth is in your 401(k), in your retirement plan, there are stocks. this could have an impact on it. >> particularly foreign stocks. in the shorter run, i think i'm more worried about russia or anything else.

their will becomes more vulnerable. all of a sudden the problems we're having with that country taking over other countries becomes something we can't deal with because we screwed up in iraq. so we have to go and do missions. that's a little more troubling both emerging market stocks, even regular stock funds are in russia or companies like that. >> you mentioned you have been going to iraq for many years. you gave great morale to the troops every year. and you know it very well. this is ugly, isn't it? >> yeah. in its fairness, they gave me great morale to go and be with those heroes. yeah, it is bad. look at libya. they are down 1.3 million barrels. egypt, same thing. it's an absolute mess. and when you talk about russia,

saudi arabia can take this fair capacity of oil. you're going to see price trend higher. they will tread water, go a little bit lower. if you have a systemic shock, there is no shock absorber. no extra capacity in the system because it is being taken up right now because of the iraq problem. we didn't see this coming either. that spells bad problems. >> okay. gary b., last word. 20 seconds. >> there is a silver lining, brenda. if we do sell off and the market drops, i think it will be more emotional than anything else. and i would use that opportunity to buy. >> okay. good way to end. all right. all this is about how it impacts you. tweet us what you think. remember to hashtag bullsandbears. all this mess could be because a lack of leadership in d.c. neil's gang is on it. but up here first, the big upset of the week. cantor gets bounced.

how this history-making election may make congress finally cut this history-making number. our debt is over 17 trillion. unfunded liabilities 127 trillion. and no leader on either side is mentioning the biggest economic

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now back to "bulls&bears." cut spending. is that the big lesson from the primary that changed history?

the unknown candidate kicking out the house majority leader eric cantor. he wants to slash spending and our debt. joining is emily tishsalzman. is the message start cutting or we'll cut you? >> yeah. she traded pigs. she's going to d.c. there is nothing i can say here that's pg. >> you are probably the only one on the panel who has done the same. i am from west texas. i grew up near a pig farm. if you are going to cut spending for pork farmers you better have a sword. they stand for something. post politicians stand for nothing. they are anybody's will hunt all they want to go is get

re-elected. and they will tell you exactly what they want to do and how they are going to go about accomplishing that. i think that's why they have such passionate support. >> emily, is this a sign that americans are really getting serious about spending and cutting debt? >> so i think everybody wants to read into eric cantor's defeat because it is truly stunning. but i think at the end of the day he just forgot the cardinal rule. all politics are local. he was not paying attention to his district. they felt like he was running for speaker of the house, rather than running to represent them again. in the redistricting he lost a large portion of his district that knew him when he had been around more. and he brought in another part of the district that was more conservative. so he thought it was actually going to help him hold the seat but ended up working against him. it was more conservative and they didn't know him at all. >> the real message, and david

brat didn't spend much money. cut spending. washington has to cut spending. >> i think that was a smaller part of a bigger message. if you dig deeper and look on his website, why cut spend something we want to limit the size of government. that's what he is really after. right there on david davidbrat.com or whatever his website, he said government doesn't have a revenue problem. it has a spending problem. and i think we have seen that. to emily's point, all politics is local. and i think what the local people even saw there in the richmond area is this guy is kind of a big government republican. we need something that represents a smaller government kind of thing. and people are now particular of things like spending all this money on the va, having horrible runs. obama care say bust. medicare and social security is

broke. the message is starting to resonate. we want to also cut the debt. >> someone wittier than i said david brat is eric cantor's term limit. >> in 13 years, i couldn't imagine doing anything for 13 years. and that's how long he's been in office. >> we expect you to be on your show for at least that. >> so 13 years, he's out. i think he was resting on his britches. going to wall street. he was a high flyer. he forgot about his purpose there. wall street loses a friend. i'm curious to see how this plays out. eric cantor was a big friend of wall street, helped wall street along the way. now david brat disdains wall

street. you wonder how that will play out in the end. >> jonas, what's your take on this? >> he wasn't kissing enough babies and he was kissing too much wall street butt. cantor was for a lot of stuff. the measures we heard is live words of warning. there's definitely corporate weight going on from republicans. that's under attack as well. we don't even want that side of government spending. that was the big focus of it. i'm not against giving the banks money. so i think the cantors of the world made the economy work, even though we don't like the way it works. unfortunately, we're about to see what's going to happen. we don't vote on those when we have a crisis. it might not be as pretty. >> and it's the big things like social security and medicare that really have to be cut. so we'll see if they get around

to that. all right. thanks, everybody. >> to the other big upset of the week. a huge legal defeat. why it may be a huge win for our kids.

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that's why i always choose the fastest intern.r slow. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fastest speed dial. the fastest office plant. so why wouldn't i choose the fastest wifi? i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. unions fired up after a judge just ruled that teachers can be fired. a california judge striking down tenure, calling it unconstitutional. tracy, you say if this division

stands our kids's grades might jump. >> first of all, i love the fact that kids brought this lawsuit up. students brought this up and said, hey, we have these tenured teachers who did nothing. there were wonderful teachers who are not tenured that are to angry that don't have the right. last hired, first fired are key rules in our education system. a lot of teachers are sitting on their butts in classrooms because they are tenured. get rid of them. it only helps our teachers. >> will it hurt kids? >> i do think we are at the beginning. like this law was pretty specific at what they were looking at during the case. but i do think we're at the beginning of seeing a lot of changes in the educational system with children being at the core of it, which is always what we should be. we should really be focused on. but a piece of that that i do is think is important as we move forward and prepare for a 21st

century economy, the world they're in at the core is the teaching. that is the most important part of it. if we keep the debate around do they have ipads, how long has the school be around. the teaching is the core. so there has to be some sort of security for the teachers. and i think we're moving around now and changing the consensus about where that is. >> john, where else can you get a job guarantee? none of us have it. >> just because you live long enough you get tenure. that's got to be the dumbest thing i have ever heard. gary b. and you have been on "bulls&bears" for a long time. kids will be on a roll. as it should. our education system is failing our kids. we have some great teachers. but they should be rewarded. bad teachers should be cut. you can't do that when you have tenure. >> gary b.? >> you and i are violating

tracy's 13-year rule. i wanted to make that. everyone made a good point. teachers need job security. the job security is continuing to do a good job year after year. just asks if you worked at ibm, google or marriott or any other country. i can understand tenure at a university level. they need academic, beholden, and be able to go esoteric projects. they can sit back, goof off. >> it doesn't mean getting rid of it will improve all the woes with school. michigan moved away from tenure. right now california has some of the highest scores there are. i'm not sure it's going to lead

to better students. i know it might lead to higher pay packages. a job that you can't get fired from is a job you will do for less than than a job you can get fired from. so we have to pay them more to make up for the benefit we just have taken away. now it's a dangerous job, like every other job in the country. >> anything that was instituted in 1885, which is when tenure started, pretty much should be abolished by now. >> all right. my thanks to tracy and emily for joining us. >> thank you. back to the serious situation developing in iraq. while we can't control what happens next,

predictions. and, jonas, you're up. >> i'm doubling down on one of my flop speck. sony is projecting a 20%. they have the fitness band. they're on a roll. >> i don't know. do you agree with this review? >> it flops like a soccer player. >> okay. all right. and your prediction, john? >> trouble in the middle east benefits flow tech. i own it. up 20% in a year. >> gary b., what do you think

about that? >> i would wait for a close of 31 before i bought it. >> what's your prediction? >> chevron up 30% by t t t t t the year. >> bull or bear. >> chev-wrong. >> oh, good one. well, if you don't leave, the world falls way behind. thoughts on top of iraq becoming another vietnam? too soon sos. this much is not. from the moment barack obama drew a line in the sand and erased it, they have called our bluff and they are running with it. iraq imploded. syria laughing. putin rejoicing. oil prices soaring. time to start connect canning. here to do that is ben