forward to more of your letters next week. >> there were a lot. >> make it a great day. \s stocks rock, jobs still rocky. is all this indicating the economy is abouting to clocked? hi, everyone. this is "bulls & bears." here they are, the bulls and bears this week. welcome to everybody. gary, first, stocks tumble, then jobs stumble, bo sides the economy could crumble again? >> i think so. it feels like 2008. i know that's a little doomsday-ish, but i look at a couple things.

one, what is the stock market doing. over the past few weeks, it is hurting. the other thing is peek look at the well, a lot of people bought homes in 2006-2007. they're still under wear. two, we have the labor force participate rate, the highest -- our the lowest it's been in about 40 or 50 years, and three, wages have not inched up in decades. you combine ought those, brenda, i don't see a very strong economy at all. >> john, 2008. do you agree? >> i agree there's some historical precedence to this. i don't think it will be as bad at 2008, but you also look at what happened in 2001 the

internet bust. both times approximately, but also the s&p in 1995, it's a 500. it's about 2,000 right now. that's a four-time gain in 20 years. ronald reagan simplified it, but that is the case right now. if you're in the market, you'll be okay long term. it doesn't help short term, because there's another historical precedent. 1946 and 1974, the market acted almost exactly the same in august and the first couple days in september, and what followed was a 10% drop in the market. i'm not sure that's going to happen. i think it certainly is possible, because what you're seeing is a repricing of stock markets worldwide because of a global growth slowdown. in the states right now we're creating jobs, which is excellent, by the way, but we're not creating the jobs that we need, and we have a skills gap, because we have structural problem with education. that's our biggest problem. and we're not creating jobs, naomi, that pay that much. waging are basically stagnant.

i actually agree. the issue we are facing in this election is going to be income inequality, how the jobs are growing are the low-wage workers and educated jobs for people getting out of the college. there's still a gap and a pretty large gap. >> this is after eight years of a democratic -- >> fortunately we suffered a major problem in 2008. the reality is we have that 8 million jobs. in the past three years. that's huge. that stimulates the economy, but people don't have extra money in their bank accounts. they're not even thinking about buying houses right now. they don't want to buy cars. guess what? they'll be the largest generation in five years. that's a huge issue. >> jonas, what's your take? >> i think all this 2008 discussion is 2,000-late.

>> easy, fergie. >> what i mean by this, is i'm optimistic about the -- this current problem smells to me like 2000 where there's an underlying overheated part of the economy, now it's oil and gas and natural resource, with following commodity prices at the heart of what's going on. there will be a that is where the jobs are going away. if that intensifies, we, you'll see more and more people firing in all those areas, but mostly in canada, emerging markets. it could spiral and take the whole economy down like that dot-com bubble. everyone doesn't have a piece of this like real estate, but definitely big enough to bring down some countries and possibly cause a next recession relatively soon. >> lisa, i'm getting a little depressed. >> it is depressing. there's a lot of uncertainty. it's going to curb consumer habits and could affect

businesses. to nomiki's point we've seen it gets worse under the obama administration. food stamps have increased 45% i believe under president obama, and the poverty rate has soared. income inequality has -- >> but more than anything, this regulatory state that we've seen is creating even more uncertainty. if you look at something like obamacare it's costing tens of billions, creating great uncertainty. >> people are going broke and bankrupt because they didn't have access to health care. president obama has -- >> nomiki, actually premiums have increased under obamacare. >> people were already bankrupt. president obama's policies -- he's doing everything he can the regulation -- >> okay. >> so for the first time in united states history, more businesses are going under than

are being created. that's under the -- >> that's not right. >> yes, it is absolutely true. >> that's crazy. >> why are in the -- >> stop, guys, don't talk over each other. agree debate. gary, let me ask you -- a lot of americans are looking at the 401(k)s, up one day, down the next, what do i do? give them some advice. >> just as an aside off camera. nomiki whispered she thought obama was a terrible president, i didn't want to reveal that, but -- [ laughter ] >> second of all s. the sage old advice, as cliche as it is, look at the 401(k). if you're going to do anything right now f. now is probably a good time to invest more, because every technical signal,

looking at the charts says right now invariably p. unless it's a horrible 1929 kind of issue, 1935, the market will be higher a year from now. i would stay pat, and if you have extra money, i would probably start buying than anything else. >> john do you agree? is this a buying dip? >> absolutely. i have a ton of buys on my portfolio right now. i'm trying to get into a lot of different stocks. if you're looking at individual stocks right now, they always say it's a stock picker's market. that's the dumbest thing i've ever heard. it's always a stock picker's market. try to get into the stock if you can. with gary, i talked to nomiki the other day, she said the same thing to me. [ laughter ] oimplg

>> you guys all #bullsandbears and tell her what you think. >> the energy sector is essentially losing tons of jobs, but isn't there a silver lining to this, in that gas prices are going down and down? people have more money in their pockets? >> it raises costs of home construction and to a point we want it to come back to where it is now, but if it continues -- that's my fear. this is a good time to get into the market unless commodity prices go lower. so if it gets worse from here, it's going to cause a big market crash and economic problem. i don't think it's going there yet, but i am concerned it may be too much of a good thing, which is really cheap copper or gas. >> lisa? >> well, you know, i think that's the energy production point you point out.

look, a lot of that is the reason we've seen gas prices decrease is because of the -- and that's happening on private and state lands. it's not happens on the federal level. president obama has done everything he can to rope off federal lands and prevent that from happening. that's a lot of jobs that are being prevented. >> there's not going to be any jobs, if you let you drill in yellowstone national park. >> but we're -- but look at north dakota. >> it's not just low on gas, but all commodities, they're all down a lot. . >> but hold on -- >> lisa, let me get john in here. >> but when you talk about oil and gas there's innovative people in the world. what happened with the internet bust is the companies that came out, the cisco, amazon, these companies became your biggest companies in the world. these companies are learning how to deal with $40 a barrel oil. they're going to figure this out. once they do, they are going to

rejuvenate this entire energy sector. and like -- failing in wake of that. >> i don't think it would be 80%. i disagree there. >> jonas, was if nomiki talking to last week, too? [ laughter ] hey, neil, what do you got? >> look who is gearing up to slow that iran nuke deal down? is this why antiestablishment -- surging. taxpayers out of patience. why this rage is about to get very real for you. we'll see you at the bottom of the hour. you will. thousands of people desperate to get out. is it time to take out isis once and forall? videos.

now back to more "bulls "bulls & bears." isis sending hundreds of thousands fleeing. europe overwhelmed with refugees escape the terror regime. now calls growing to offered shelter, too. >> john, you say this refugee cries is within more reason why we must do whatever it takes to stop isis. >> absolutely. this is a terrible tragedy. the pictures are just horrific, but dealing with the refugee crisis first is like dealing with a person who has a headache because they have a brain tumor

and giving them aspirin and thinking they'll get better long term. that's a symptom. the problem is isis. you can argue whether it's president bush's or president obama's fault. it's both their fates. they have screwed up the middle east. giving money to the united nations is a waste of time, giving it to a charity group does more to the refugees. we have to deal with the core problem, and that's syria and isis, and the refugee problem will be dealt with after we deal with the core problem. >> knowing there are still hundreds of thousands fleeing, very tragic. >> you know, we have a history of giving asylum to political refugees. we've actually cut down on that. when you have a country like germany, a quarter of the size of the united states accepting 800,000 syrian refugees, and we've only accepted in 201336 syrian refugees, we do have to consider this.

it's one thing to attack the root of the problem, and we are definitely attacking isis as much as we can. turkey finally is launching air strikes into iraq. i mean, this is a complicated scenario here. you have syria with a civil war and then isis. >> are we actually doing as much as we need to to attack isis to get at the root cause? >> i don't think we are. let me address one of points. we make sure that terrorists don't come in. so even the refugees, as sick and poor as they are, have to go through security checks so the terrorists don't pose as refugees to come in here. that's point number one. point number two, isis is a cancer that is spreading. this is not just al qaeda or anyone else. this is an organization that now controls a land mass bigger than the united kingdom. they are a serious threat. just like any cancer, brenda,

you don't wait until it grows, you be proactive. i don't think we're doing enough in that regard. sure we're doing strikes and things like that, but we've got to take the war to them to make sure that they don't bring the war to us. believe me, you know they want to. >> lisa? >> i think it's incredibly concerning. we're absolutely not doing enough. only about 10 to 15 air strikes per day, and someone like general jack keen says our pilots are facing the most restrictions they have ever faced ever, so it's incredibly problematic. we need to do more. as gary said, they're advancing, control huge swaths of land. i think more concerning than anything is an ideology we're seeing spreading throughout the world. if you look at something like nazism, 75 years later it's still prevalent. we'll continue to face in ongoing fight against islamic extremism, but we have to take

the fight to isis, and we're not doing that. >> on this cancer thing, there's some cancers you can spend unlimited money on, and you will not stop them. this may be one of those. it seems like isis grows in instability when a regime is under attack, whether it's us in iraq or syria with that you are own internal civil wars. that's thousand he spread. sometimes you have to take a dictator and say that's not the greatest person in the world, but maybe you prevent isis from taking over. eric, what do you guys have coming up? >> hi, brenda, cops under fire in america. is all the police bashing putting them in constant danger? and putting lives and businesses in danger? plus a billboard in times square saying a $15 minimum wage will unfairly reward workers with is no experience or skills. what do you think. up here first, a millennial

admission, most say they are

well, at least they're add milting it. a new survey shows a majority of millennial thinking their generation is self-absorbed. lisa, who is to blame? the nanny state? parents? millennial, of which you are one? >> i don't consider myself self-absorbed or wasteful, but i think there's a nanny state that's being created and it

breeds into those certaintyments. i believe the campaign was in 2012, essentially taking this girl from cradle to the grave dependent on the federal government. we have democrats proposing policies like free community college. they're absolutely breeding this sense of entitlement, this sense of, you know, which leads into being self-absorbed and wasteful. >> gary, you have two millennial, i have one. we're the oldies on this panel. are we to blame? >> i will take full responsibility, yes. i know i could have raised my daughters better, but here's the thing. i think, brenda, every child goes through this wasteful self-absorbs. what we are seeing is something that's been going on for generati generation. kids are maturing at later ages. back in ward war ii, kids were going off at 16, 18 to fight a world war. so my daughters are 26 and 28,

they're just maturing, thankfully a bit later than previous generations. i'm sure in the next generation, they'll mature in their mid 30s. >> they're not getting that much from the government. they're saddled with student debt. it's their parents giving them the basement. >> thanks for cheering me on. listen, if anything, millennial are introspect tiff probably more than their parents. they did drive up the debt, they did drive up the cost of tuition, they did cause a war. so many shies millennial are dealing with, and doing it with fewer tools in their toolbox. they're $30,000 in debt whether they get out of college. they have no money to spend. how can they be wasteful? >> i think jonas likes to think of himself as a millennial. >> millennials get a bad rap. baby boomers steered all the policies towards them.

if now millennial, look, we've always been saying kids today, you know, with elvis we thought they were bad. when you get older, you stop blaming yourself. all of a sudden generation-x people are like i'm not so bad. by the time you're 80, you're like, i'm the greatest generation. >> oh, my gosh, we're taking hits right and left! john, please save us. >> this is not about entitlement or psychoanalytical babble i'm hearing. and it's not political, either. i deal with kids all the time. they come in entitled, they come in expecting that everybody gets a trophy. that is the problem with this generation. they don't think they have to work to have a home like their parents have. you need to put risk and rewards in there. reward good behavior, punish bad

behavior. no one isling to do that. because you want to sit around and sing with these kids. thanks to our millennial who are not self-absorbed for joining us. the one bargain that one of these guys says you're crazy not to buy.

>> john, your prediction.

>> bank of america. i just bought more, i think it's up 20 percent in the year. and can't stop from putin to working in a sweatscherr. i shares italy moscow. neil is next. \s. well, the fight is not over s they'll be teaming up to take the iran nuke deal down. it may be too late. the president may have more than enough votes to save this deal, with you senator ted cruz telling me he still has other plans. >> actually i will see thousands of people gatheren. it involves pro-israel groups, national security groups, tea party groups all coming together. last week i invited donald trump to come join us. did you invite anyone else? >> you know, i did not. the reason i invited donald trump is that when donald shows up, he brings with