have fox business's tracy byrnes, steve forbes, forbes media chairman and editor-in-chief, and brian sossi, chief equity strategist. brian, what do you think? first of all do you agree we're when fitting from problems over there? >> yes because we have not been trained to think otherwise, david. the market has not had a crash. i'm getting calls from clients, china cut interest rates, with can we buy? investors are not thinking critically of structural issues certainly in china but also europe. i think we're ultimately heading to that day of reckoning. if i cut off last earnings season i'm hearing growth is slowing in china and hearing growth is slowing in europe so i'm worried about next earnings season. david: steve, japan spent 20 years at zero interest rates. it hasn't helped their economy at all. if they think central banks printing money there will solve anything i think they're wrong. >> i think they're wrong. japan is staying in recession. they realize raising taxes is not the way to cure a bad economy. david: rise in value-added tax hurt them badly. >> increased it 60 in ape and wo

we bring back brian sossi. brian.eel like ryan seacrest hustle through fossil's earnings tomorrow. two reasons. one will give insight to macy's and nordstrom. fossil's is eyes and ears of department stores. i want to see if they see impact of looming apple iwatch. david: do you have any expectations about it and what the consumer will do leading into the holidays? >> kohl's and jcpenney are any indication they both warned i think fossil will be soft believe it or not. liz: michael kors is hot in the rose-colored chunky watches. kors is a interesting retail play after superhot growth. who is standout? we certainly watched nike for example, but who else? >> i think michael kors will continue to watches and keep eye out on kate spade believe it or not. they reported earnings last week and gaining more watch space. david: do i sense you're a little concerned about consumer trends? >> absolutely t remains a big risk. many retailers have problems selling things pat full price. a lot of stocks are in the drain. david: how mu