your questions or your property stories at propertyman@foxnews.com. i'm bob massi. i'll see you next week. [ woman vocalizing ] monday, please be with us. until then, have a great weekend. good night. . announcer: from fox business headquarters in new york city, the new "wall street week." maria: welcome to "wall street week," the program that analyzes the week that was and position you for the week ahead. i'm maria bartiromo. coming up in just a moment, home depot co-founder and billionaire philanthropist ken langone is my special guest today. connell mcshane is standing by with the numbers that will impact main street to wall street. connell over to you. >> disappointing jobs report to end the week as the u.s. economy added 138,000 jobs last month, well below expectations. the unemployment rate did tick

lower to 4.3%. the consensus on wall street is this report wasn't bad enough to dissuade the federal reserve from hiking interest rates later this month. markets mostly shrugging off that jobs number, the dow, nasdaq and s&p touching all-time highs friday, closing firmly in the green for the second straight week. another headline catching investor attention this week would be president trump pulling out of the paris climate agreement, arguing that it hurts the u.s. economy. the deal is a pact between almost 200 nations to reduce greenhouse gas emissions in an effort to fight climate change, but the president says too much of the onus is on america. it is worth noting that on thursday, when he made that announcement, all three of the major stock indices rallied to close at all-time highs. back over to you. maria: thank you, connell. president trump returning from first international trip to a sea of uncertainty, tax reform,

health care are all in limbo as investigations dominate d.c. joining me is home depot co-founder ken langone. ing me, u for joining us. maria. maria: as a businessman, obviously, you operate in business and you know you can't spend too much. you've got to make sure to pay debts. you've got to make sure to create jobs. what's the state of washington today? ken: chaotic. maria: that's what it sounds like. ken: every place you look, chaotic. the wheels have come off. maria: why? ken: i understand the democrats being obstructionists. i understand the democrats seeking identity. right now they want to be relevant. best way they can be relevant in their minds, i don't agree with it, is to be an obstructionist. we stopped this, we stopped that, we stopped. that the republicans, on the other hand, have skin in the game. if we don't get some significant acts, things done, we'll lose control of the house next year.

i think that statement will be safe largely because they have more seats up than we do, and they're more vulnerable than we are. maria: that's the point, if they don't get something done, they lose seats in the house, fine. ken: control. maria: control of the house. but what about the economy? if we don't see tax reform getting done, bigger implications than the guys losing control of the house. ken: look, you go back to the campaign last year, a lot of noise was made about tax reform, about the horrendous nature of health care in america today, the affordable care act, immigration issues, the environment. you got deliver on something. the american people last november, in my mind, did a very dramatic thing. they elected a man who the republicans didn't want, the democrats didn't want, the media, god forbid, the media went full force.

what the media is doing to establish relevance because what happened last november was the public said to hell with you, media. i'm voting the way i want to vote, and they were shocked. it's that simple. maria: well, the media really does not like president trump. ken: they hate him! they hate him! >> you look at cnn, the msnbc. ken: bob woodward, look what bob woodward said about the way the media is acting now. where is the objectivity? i haven't seen one headline on the front page. when i read "the new york times" which is less frequent than i used, to the headlines on the front are more rather an objective statement of fact, they're subjective. maria: nasty. ken: like the editorial page. maria: you're right. what do you think is going to happen? i had ron desantis on from the freedom caucus, congressman desantis on friday, last week, he said we're going to get tax reform done. do you believe it? do you think we'll get tax reform done?

and what are the implications of it. ken: they're going to claim to get tax reform done. maria: maybe tax cuts. ken: the opportunity to do something meaningful, that could be a sea change, they're going to blow it. and this is a great opportunity, and let's start with where we need to address first in my opinion, the little guy. forget about me. maria: the small business owner? ken: the small business owner. maria: and the individual. ken: the individual last november said hey, guys, don't forget me, i'm voting a certain -- and they did. the thing i don't understand about our politicians, maria, people don't understand that the public has spoken loud and clear. this was a major, major cataclysmic event. maria: which is why it's a head scratcher to see chuck schumer and the democrats pushing back and being obstructionist. they're saying no, america, you voted for something but we're not going to participate. ken: the democrats are seeking relevance, they want to still

be relevant. i don't think they're doing it the right way,ing and the american people are going to serough it all. but that doesn't help the plig of the american people. maria: ask but tax reform, you have been vocal on this. you think a border adjustment tax is a good idea. ken: if they implement a border adjustment tax where it phases in, i think it's a wonderful idea, and i'm saying this as a retailer. i think all my brethren in the retail business, if they look hard, every time you can put more money in our customers' pockets and in the case of home depot, any time we put more money in the envelopes of our associates, we win. maria: what about the automakers who say, look, i've got components across the border six, seven times. if you have a certain component that goes in the chair, but the seat is made in mexico, the driver seat is made in mexico, send the components to mexico and bring back the seat into the car. how about that?

the automakers are saying a border adjustment tax is going to be too confusing. ken: i plead guilty, it goes across the border at a certain value, then it comes back at a higher value because they add something to it, that difference, to me, would be where there will be a border adjustment. maria: they'll adjust it. ken: i'm saying where there's a will, there's a way. right now we've got kids spitting at each other in washington. two kids spitting at each other in the play yard. maria: how did this happen? they used to go to coffee together, they used to talk policy off-line. it happed on both sides. ken: it happened when they realized they could manipulate the american people. 7:00, election night last year, who the hell would have thought donald trump would be president of the united states the next morning. guess what?

he did, and the russians didn't do it. maria: ken, a lot of great insights from you. stay with us. we want to see where you see growth in the economy right now. ken langone invests his capital. we'll find out where. we have a lot more discuss. "wall street week" is coming back. announcer: ken langone is still an investor. i love kiwis. i've always had that issue with the seeds getting under my denture. super poligrip free. it creates a seal of the dentures in my mouth. just a few dabs is clinically proven to seal out more food particles. try super poligrip free. ♪ at angie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list.

. maria: welcome back to "wall street week". and i'm with ken langone, a person who decades ago had the vision to be one of the founders of home depot. where are his opportunities right now? the private company, family office, quasi family office, tell us what you're invested at. where do you see growth in the economy right now? ken: let me give you something generally first. i wish i was 21 again. i think the opportunities in america in the next 25 years, no matter how hard our

politicians try to screw it up, the opportunities are phenomenal. so where am i investing? i love the public storage business. why? older people are downsizing. they got to store stuff. younger people are in starter apartments where they haven't got enough closet space, they're storing stuff. it's a mom-and-pop business. maria: a practical business, sounds boring. ken: i love boring businesses. i love boring businesses. maria: okay, okay. ken: 83% of them are independently owned. there's a great opportunity. i love low income housing because there's a great need there, and i think can you do it in a way that's good for the tenant and very good for the investor. medical devices. we're very excited about. maria: that's also a trend on wellness and living longer and getting new knees and hip replacement, et cetera. ken: for example, i'll give you a for instance. i'm investing in a company

called orthosensor. they have a device when the surgeon finishes doing your knee, before he sewed up the wound, they put this device in and it assures the doctor of alignment. you'd be amazed the number of knee replacements that have to be redone. maria: wow. ken: who pays nar? there's a great opportunity because as i look at it, somebody's got to pay for the other operation if it's got to be redone. no way you can compensate the patient for the pain that comes with misalignment. there's a real opportunity. more people are getting new knees, new hips, i haven't had anything. maria: you haven't had anything. ken: i have a peasant's body. maria: you are very active. ken: active and i have good genes, that's a good start. what else do i see? i see great opportunities, appealing and catering to older people, we're living longer,

we're living better quality lives, so anything that relates to helping older people enjoy their last years or their later years, there's a great opportunity there. you know, we slam health care, but guess what? the drug industry, there's got to be a direct correlation between the extension of life now what, 77, 78? 60 years ago it was 48. give the drug industry credit for developing important molecules that enhance our ability to live. >> the fda is not as bureaucratic as we thought. ken: one more thing i'm excited about. all the other things require legislativac. i hope the president continues to lift the burden of the very unnecessary regulations. they're killing us. maria: yeah, that's probably where he's had the most success so far, right? rolling back regulations. ken: why? because he can do that. i'm signing and that's it. maria: where do you want to see

the regulations lowered. you say health care there is onerous regulations. ken: we never want to do anything to harm the public. so any regulation that's designed to make sure we measure twice and cut once regarding do no harm, i'm for that. but there's a lot of regulation out there that's superfluous, that does nobody good except the guy that's got a job in washington. you realize, for example, with obamacare, we added 68,000 people to the irs to collect the tax money that's coming that came from the new taxes that were levied to pay for obamacare? these people all have to eat. there's a solution to that as well because people want to work 20 years and retire. you don't replace those jobs. i got to believe when you got hundreds of thousands, probably millions of people working for the government, there's an opportunity to let the clock take care of the problem.

maria: right, there's an immigration issue that people say is taking people's jobs but there's also technology. ken: that's not so. maria: robotics is the issue. ken: the problem is our children are not getting the educations they need to be competitive in a high-tech world. i don't want to blame anybody, but we are doing a horrible job in public education in america today. we spend more money per student in public education than 30 of the most developed countries on earth and in results rank 28th. maria: wow. should the onus be on government or business in terms of training our people. they had fantastic training programs they was so proud to be a part of. building essential leadership skills and all these classes. should business be doing more of that to train people to thrive in the new economy? ken: let's go back a step. business has no control over public education. the beginning has got to be

give the kids the basic tools. read, write, count. i'm notalking abou highfalutin extra calculus superiors, i'm talking about giving the kids the basic tools that prepare them to go to entry level job. take home depot. how can we have somebody helping a customer if that associate can't read the directions on the package to help the customer figure out how to do it? maria: you make a great point about public education. stay with us, ken, i want to get to your other massive passion, that is an incredible amount charitable work that ken langone does whether it's education or health care. we'll talk about that next on "wall street week". stay with us. announcer: he's one of the top philanthropists in the world. why ken langone does what he does? when "wall street week" returns.s.s.s.s. when i first started working with capital one,

my dad called them up and asked for "the jennifer garner card" which is such a dad thing to do. after he gave his name the woman from capital one said "mr. garner, are you related to jennifer?" kind of joking with him. and my dad was so proud to tell her, "as a matter of fact, she is my middle daughter". so now dad has the venture card, he's earning his double miles, and he made a friend at the company. can i say it? go ahead! what's in your wallet? nice job dad. of being there for my son's winning shot. that was it for me. that's why i'm quitting with nicorette. only nicorette mini has a patented fast dissolving formula. it starts to relieve sudden cravings fast. every great why needs a great how.

. maria: welcome back. president trump's plans for tax reform does not change that you can deduct charitable donations, but that does not mean nonprofits are not concerned. lowering the top rate to 35% means charities could be on the verge of losing $13 billion a year. ken langone is well known for his philanthropy, contpations to the nyu langone medical center and world renowned and saved countless lives. it's not jt nyu langone medical center you spent so much of your time and money but education, which we're going to get to.

and full disclosure, i'm on the board of nyu and proud of that. what do you think of the tax plan they're talking about? ken: i think at the end of the day, they'll leave it alone. the damage that will be done to charities, in my case it doesn't matter. why? because the minimal alternative tax, okay? and that's fine. as far as i'm concerned, take what you want from me, this country has been great to my wife and me and our family. i can't believe all the wonderful opportunities i've had, and i can't believe, thank god the success i've had. my philanthropy is driven from one thing, and that's giving back to those places that were there for me. nyu, i think all of us that have done well, and some of us who have done extremely well like myself, i think there's a strong moral obligation to make sure that we do our part to give the next kids the same

chance that we had. on the other hand, there's so many people, so much hurt in this world, you go -- i'm on the board of the ronald mcdonald house on the east side. nine, ten-year-old kids struggling to live. how you cannot help them? jeff of stan and i'm on the