adam. >> vanguard total stock market. global exposure very inextensively. >> ben. >> adam has learned a lot from me. dvy, dividendeaeaeaeaeaeaeaeaeaeaeaeaeavy index funds. >> we continue now on fox. the very same week we're seeing isis soldiers blitzing through iraq and security and a dozen people on our continent arrested for allegedly trying to join isis and terrorists overseas our president saying the immediate risk to our national security is this -- >> climate change constitutes a serious threat to global security. an immediate risk to our national security. and make no mistake, it will impact how our military defends our country. >> is he right? hi everybody. welcome to forbes on fox on this memorial day weekend. let's go in focus to find out. rich what do you make of this?

>> i just don't get how the presidents can say urgent threat to describe climate change and then leave us all hanging, wondering what he meant by that. this is what con artists do. they try to scare you but don't give you any specifics. two people in l.a. tried to join isis this week. 10 people in canada tried to join isis this week. that is a far more pressing threat. >> bruce, it's a matter of emphasis. particularly when you're talking to military guys. you want to focus on the enemy. we're not cherry picking here. let me just quote from the president's speech. he says this brings me to the challenge i want to focus on today and that's the urgent need to combat and adapt to climate change. so that's his priority. >> yeah i think -- well he probably should explain it a little bit more but let me try

to help him out here. if we are having floods and tornadoes and the climate change is here and an immediate threat if we are directing national guard troops to fill sandbags on the mississippi riverbanks and so forth and do all these other things there is a problem. i mean it's not necessarily that it's bigger than terrorism, but it is something that needs to be addressed if we're going to have more issues like this with people going hungry because of droughts and all that other stuff. >> sabrina, he literally blames terrorism on climate change. again, not my words, let's play his. >> severe drought helped to create the instability in nigeria that was exploited by the terrorist group bocako haram. now believed drought and high food prices helped fuel the early unrest if syria which descended into civil war in the heart of the middle east. >> so it's not evil it's not radical islam, it's climate change. >> yeah it's just so confused. i think he put it best earlier

this week when he said the scariest part is we have a president who sees climate change as a bigger threat than radical islam and what we're facing overseas. fact he used the u.s. coast guard commencement as a point to sort of push this radical agenda in my book is so unpresidential. he said to them if you don't support my agenda on climate change then somehow you're serving dishonorably. i found that really offensive. >> that is the point. he was talking to young men and women who are probably going to war at some point. they're not going to go to war with climate change. they're going to go to war with the most vicious enemy in our lifetime. >> you're absolutely right, david. this country has been kept safe by the men and women in our armed services for over 200 years, despite the fact we've had climate change for over 200 years because our armed services had kept us safe from enemies who have tried to destroy us. i can't really see general

patton delivering this kind of speech in europe. >> it's a great point. >> the scariest thing to me is i really think obama believes what he says and i think that's a big problem about why things have gotten worse in the middle east and why this is a disconnect with our military. >> obama might believe what he says. the president might believe this is the number one priority. but american people don't. climate change is way down on their list of priorities. >> i'll tell you why i'm worried about the climate. it's not because i think florida is going to be inundated next year. i think when we get carbon restrictions they will lead to fights over carbon restrictions. they will lead to trade wars. the trade wars will lead to uglier confrontations. let's not forget the precipitating factor 73 years ago in pearl harbor was a u.s. oil embargo against japan. these things can blow up. >> there's nothing uglier than the enemy we now face. these are people that burn folks alive. that decapitate children for god

sakes. >> well i think they're both equally threatening. i think they speak to the infantlization of u.s. policy. in one case we have weather fanatics who want to chase a theory but on the other we have the most powerful military on earth, the most powerful nation letting its foreign policy be dictated by a bunch of thugs on the other side of the world. i think in both instances we've got to calm down. >> rich low grade thugs. these fog these folks are about to become a country. they've taken over major cities in iraq. if they become a country, the last terrorist group that became a country was afghanistan in 2000. we know where that led, right up to 9/11. so it could do us harm. >> yeah, you know the nazis were considered low grade thugs in the late 1920s and early 1930s. and then they took over a country and acquired great weaponry and that could still happen today with islamic jihad. but this climate change stuff,

my god, look some of my colleagues on this panel, they want to blame everything hurricanes tornadoes, famines, on climate change. i mean we had the irish potato famine in the 1840s. was that due to climate change? was it galveston hurricanes? the johnston flood? i mean those great -- >> i think we'll go to you bruce. >> i think it's a resources issue. in washington they're not prioritizing anything. if you take resources away from the national guard, whether it's a flood or whatever it is you are directing them towards some natural disaster whether brought on by climate change or whatever i think the president should elaborate -- >> or whatever. >> listen -- >> go ahead. >> also the alarmism and hysteria this administration likes to promote, especially related to climate change is unbelievable. we have an 18 trillion mounting

national debt. if we want to talkout side overseas really threats to us let's talk about the debt he is perpetuating through massive programs like obamacare. this is all about the president trying to push through legislation he has failed to do. he wants his policies to succeed -- >> to rich's point, we know isis is cutting off our heads. we know isis is threatening us on our doorsteps. we don't know what's going to happen with climate change. >> except there's one little thing you haven't really gotten to isis is a great, great evil. it's a local evil. it's a middle east evil. it's not reaching our shores. >> but the reaching our shores. we are just arresting people this week who were involved in isis. trying to go over there and fight with them. >> the terrorism they're spreading has already reached our shores. tell that to the people in boston that it hasn't reached our shores. if iran gets a nuclear bomb it

will have a huge impact on this country. when he says isis was the jv squad, no offense to john to compare him to president obama, but if you're saying this is a little organization you remind me of president obama here. this is part of a group that wants to eliminate israel and wants to eliminate the united states. that's their stated goal. >> john go ahead. >> so we're fearful of a bunch of 20-year-olds on the other side of the world being funded by a bunch of trust fund billionaires over there that they can somehow take out this country? i just don't think it's a credible threat. >> i agree. >> when you look at a map of what they have done what they have accomplished. you may not like to agree with it but it's true. they have accomplished a lot. they have taken over huge swaths of the middle east now. they're not a jv team. >> well again, i guess i'd rather shoot at people i actually -- i don't even know these people. i don't get why that is a threat that impacts our national security here. what goes on over there is over there.

i think we elevate them by taking them so seriously. >> john we're going to give you the last word on that one. again, i got to say, be careful. i don't want to get any closer to these people. i want to keep them at bay before they reach our shores. thank you very much, gang, interesting discussion. she is al sharpton's daughter and she's suing new york city for 5 million buck because of a sprained ankle but did this picture of her just show why we need to stop frivolous lawsuits once and for all.astern.

first, a suit then the hike. al sharpton's daughter dominique suing new york city for a whopping 5 million bucks after saying she sprained her ankle on uneven pavement in a crosswalk last fall. that didn't stop her from allegedly doing this hiking a mountain on vacation in bali and posting it online. sabrina, you say frivolous lawsuits like this are costing

us all billions explain. >> this costs the american economy $264 billion a year. that breaks down to $850 per person. coming out of the economy. why businesses a number of years ago were sort of fleeing states like texas because of these kinds of frivolous lawsuits. businesses want to create jobs create opportunity, lawsuits like this are just hurting all of us. >> there are ways to come back from frivolous lawsuits like loser pays. if you lose you got to pay the court costs for everybody. >> in her case, the case probably isn't going anywhere. there's such a backlog of cases. what some people have done rather than lose their pay like in health case they've gone to outside mediators like a retired judge. if you can get both sides to agree, it goes before hi it reduces the size of the verdict and it throws out some unnecessary cases. if somebody wants to get in

line then they can do that. >> john those states that have really instituted tort reform really cutting down on frivolous lawsuits like texas for example, they started that in the early 2000s. the doctors used to be leaving that state because of all the malpractice suits. now they're coming back. and the lawyers are leaving. that's a good thickng right? >> it's a beautiful thing. capital goes where it's treated well. i think you hit on the important point that it's occurring in states. states should be laboratories for how we reform this. it's interesting to replay to sharpton's daughter. imagine if they institute a loser pays in new york based on this. something tells me he would please both sides of deet sidethe divide in new york. i think it's a great place to start and it would go national. >> even the settlements to cities and businesses. businesses who settle out of court in these frivolous claims have to pay $35.6 billion. >> i find loser pays to have a

certain danger. let's say you and i were fighting over $500. so i hire a lawyer for $1,000 and sue. and now there's $1500 on the table. you don't want to lose it so you see me and you raise me 1,000. you put $2,000 into your lawyer. then suddenly the thing started ballooning because i can't afford to lose $3,500 so i invest 3,000 in the next round of litigation and pretty soon we're into the lawyers for 100 grand. >> the bottom line is frivolous lawsuits cost us our dignity, frankly. our idea of self-reliance, personal responsibility go out the window with this. i pay for it myself. i don't sue somebody. >> we have to have a fast track to deal with this. apparently right after this happened, she was climb ago steping a step ladder to decorate a christmas tree. i sprained my ankle before. you don't mix those two. al sharpton has not defended his

daughter here. maybe he knows if he paid his $4 million in taxes, it with go to these frivolous lawsuits. >> that's an interesting thought. the idea of personal responsibility that used to be a hallmark of the american character. no more. everybody just sues if they do something to themselves. >> it's like a lottery ticket. that's why you need loser pay, to throw up some disincentives to buy a lottery ticket. most people are just seeking settlement. you raise that. that's where businesses really get hurt. they settle ridiculous suits. they know they could win. on the off chance they draw a bad jury and then are going to have to pay an outrageous settlement. >> sabrina, it's other countries have gotten the loser pay route. they have about one-tenth the number of malpractice suits than we do here in the u.s. >> there's a lot of room for the tort reform. which i think could go a long way. it often goes to your point that

we're living in this culture of narcissism where people want constant approval. the sense that everybody has something coming to them. the fact is people that pay this out are you and me. the fact is that's what's so wrong about this. i hope this can lead to a cultural shift as well. >> bruce, you live in a city chicago, and i don't need to tell you this. you're on the verge of bankruptcy in chicago. you guys can't afford to pay any more of this frivolous suits. >> i'm a nateive iowan. i would just say the mediation -- one of the reasons in health care some of these hospitals have gone to outside mediators, even if you sue, there's such a backlog here you may not even see a day in court. >> you don't even need me for this. this case does not deserve mediation. what happens when these sort of

cases come out, you're spending money that actually should go to people who actually need it. >> i guarantee the city would have settled it for at least thousands, if not millions of dollars. the "cashin' in" gang getting ready to roll. >> more than seven years, the government still dishing out more than 100 billion bucks a year on food aid. now the plan to cut it back. and how the irs could force the clinton foundation to become totally transparent. see you at the bottom of the hour. >> thanks eric we will be watching. up here first, no college degree well no problem. governor scott walker says being a college dropout could actually help him, not hurt him, if he runs for the white house. it's sparking a new

we haven't had a president

without a college degree since harry truman. but scott walker says if he runs for the white house, it would be an asset, since most americans don't have a college degree either. carey, you agree with the governor why. >> in this case there is nothing in the constitution that says a president must have a masters or college degree. i would rather have a president with courage than no degree than a president with an ivy league degree and no courage. he showed tremendous courage in wisconsin standing up to unions and saving his state billions of dollars. >> 62% of americans don't have a college degree so maybe they could empathize with someone who doesn't. >> well sure it gives governor walker a populist appeal but you could argue the other way, the biggest thing that separates someone's lifetime earnings capacity is whether they have a degree. >> john look at the folks who have done extraordinarily well without a college degree. bill gates, oprah winfrey, steve jobs mark zuckerberg russell

simmons. that's an impressive group. >> all a college degree proves is you can get up out of bed every day and attend class. it doesn't have real-world significance. i feel like he's appealing to the average in this among americans. it's not as though he dropped out of college and started up a software company, he's a politician. >> average, i wouldn't call bill gates, oprah winfrey or steve jobs average, would you? >> no but i think gates and winfrey would never say to young people hey, it's okay to drop out of college, which is making scott walker's most redeeming quality up there the fact he's a packer fan. >> well i don't think he's saying that a college degree is useless, he's just saying there may be some things that trump it. >> i think some people are cut out for college, some people aren't. then there are people like me who went but shouldn't have. but i'm here anyway. >> is it worth it in the end? >> i would rather have someone dropping out, earning money for their family than piling up

$100,000 degree for some philosophy study. we have such a disconnect now. >> so often it's about the marketplace. thank you, great discussion. coming up memorial day travelers expecting to spend over 12 billion bucks on their ♪ when we were young we wanted to change the world. so we did. we took a generation that was built on hope... and turned it into a generation that changed lives. and this life that we've built? we're not done building it... security 1 lending is committed to providing valuable information to help you make financial decisions about funding your future. home equity conversion mortgages are fha insured and let you turn home equity into cash you can use to pursue the life you love.

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we're back with the stock that will pay for you summer vacation. a gold and silver play. >> the vanguard precious metals fund. it's going to rebound when gold and silver prices rebound. >> this fund is now 12%. you buy low, right? >> well one big caution is in india, gold hoarding is going out of style. >> you have an industrial company, federal signal. >> it makes the best sewer vacuums out there. we all need sewer vacuums, right, mike? >> we do but their fire and safety division is suffering

from lackluster orders. >> okay so be careful. that's it for "forbes on fox." thank you for watching. have a wonderful memorial day. here's eric bolling and "cashin' in." this is a fox news taxpayer alert. 104 billion of your bucks getting dished out in federal food aid last year and this may make taxpayers more queasy. more than seven years after the great recession hit, 18 different government food programs are still serving 110 million americans. now, one state is saying enough. arizona cutting off welfare benefits after 12 months. too harsh or do we need all states to take a look at what arizona's doing? i'm eric bolling. welcome in to "cashin' in." our crew this week along with juan williams and jessica. should other states