the founder of-- henry sheffield, i should say a fox contributor joins us back, and gary b smith. gary, when i look at this, i hear about people who don't have insurance, i'm always surprised, don't a lot of banks and mortgage holders demand it or they don't have complete coverage? what do you make of this? >> i think that's the government. fannie mae does require flood insurance, but there's a disconnect between fema and fannie mae, there's no enforcement mechanism. neil: it's a back stop. >> fema is supposed to be regulating and having their policies up-to-date. so, i think it's a microcosm what happened with the subprime mortgage lending and people taking out mortgages and taking risk and not accountable for it and there's a domino effect. same thing here, there's a disconnect between making sure home owners know when they're signing the paper work, the paper work, the bureaucracy, they don't even, i think a lot of them aren't aware of the risk, they might not know they're living in a hazard area and fema who is failing to do its job to enforce the mechanism in the documents. >>

to gary b. smithis, doesn't necessarily mean it last as while, but gary that this doesn't give any reason for the federal reserve to certainly consider tightening because if anything we could be seeing things slowing, do you agree with that? >> i do. i think you know during the obama years we used the word malaise a lot for the economy. then trump got elected and there was a lot of excitement about the potential. since then we've seen very little action. health care failed, in my opinion, i don't think tax reform is going to get done. neil: wow. >> add two hurricanes or more since we're -- neil: stop you there, sorry, buddy. >> yeah. neil: you say tax reform will not get done. so obviously the impetus and lift you would get from it, if it were done is out of equation for gary b. smith? >> exactly. i think, for me the writings was on the wall, neil, i saw health care, which should have been a slam-dunk, they should have had all the ducks lined up, that went nowhere. in fact it was a mess. tax reform is

one, the president is backing and the other the president is not and if gary b. smith is right taxpayers who want their cuts better watch this one closely. hi everybody i'm dagen mcdowell, this is bulls & bears. along with gary b., the bulls & bears this week, john layfield along with emily deshin ski. welcome to all of you. gary b., why should taxpayers care about how this one turns out? >> well, dagen i think it's very simple. unless the congress is stacked with people who think like trump , not an ideal log, a deal maker or 500 odd deal makers no tax legislation will get through i think people were thinking that donald trump was maybe a next ronald reagan, you know, a sunny straightforward optomist that had very conservative beliefs but he's shown for better or worse he's willing to change with the wind. he just wants to get things done i think that's generally good. the people in congress now are more rigid in their thinking and they don't want to get things done so the more people that trump puts in congress who think like him, that just want to move forward, the

the bulls & bears this week, gary b. smith, jonas ferris, a lock with lee carter and jessica tarlove. welcome to everybody. gary k, what is the smart money telling us? >> well first off when you have all kinds of suppose ed bad news and the market has the best week we've seen basically all year it really tells you everything you need to know and just by way of example this week, apple's going to sell a trillion iphones when it comes out. here with the hurricanes disney opens up a couple days later the parks are already packed so business is business, we're back to business and the american people are going at it again and i think the markets reflecting it right now. >> dagen: and gary b., we had names like boeing, caterpillar, even dow dupont hitting all-time highs on friday. no fear there. >> well, i'm a little bit more t epid or conservative than gary k is. maybe being a more, maybe i was more in the storm than gary k. was i know he was in orlando but i think this was a sigh of relief rally. i mean, here in florida, frankly

this week, gary b. smith, jonas ferris, john layfield, and adrian elrod. welcome to everybody. john? you are a texan and you say this isn't just a gulf coast event. we will all fail it. >> we will, and first, i have a lot of family and friends that are down there in the great state that are suffering right now and our thoughts and prayers certainly go out to everybody that is down there. when you try to separate though that devastation and it is horrific, you look about the economy which in houston which is a $500 billion economy and how it affects the greater economy over 20% of the nation's refinery ability has been shutdown. the colonial pipeline that goes from houston to new jersey that carries most of the gasoline is not even able to run at times because there's not enough fuel coming from lake charles into houston. that will affect goline prices andilrices. the iediate lossn houston is going to be more o a regional event as far as job loss and as far as economic destruction. overall though once you start seeing fed's step in, the state step in and insurance step in, you w

also here, the bulls & bears, joan as max ferris, and gary b. smith along with stacey washington and adrian elrod. welcome to everybody. scott, why do you fear the fall out from this? >> scott: isn't this too bad dagen? on friday we get the outlines of this great tax plan that was going to help out the economy, help out the middle class, help out small businesses and create finally, some economic growth and now you have the at least chance for the left and the haters on the right to come out and say oh, my gosh look at all of the corruption in d.c. look at all of the backlash now that it has to come from this issue and now you'll take the official say focus away from what really ailes this economy which is tax reform and tax relief. >> dagen: and gary b., what about obamacare repeal and and replace? now you'll have to go through the confirmation process. will this resignation jeopardize trump's agenda? >> gary: it won't jeopardize the new agenda. i disagree with scott on this because unlike healthcare, trump is focused on the tax cuts and here is the

scott martin, kingsview asset management and gary b. smith from the kadena group, both fox news contributors. gary, start with you. is it about the weather and north korea or about congress and a group of people continue to stymied and bob fed -- befuddleed by problems they created? >> melissa, being in the path of a hurricane in south florida, i think maybe its the hurricane. maybe i'm more sensitive than most. i don't think it is about tax reform. today from the opening, to the close it all about north korea. in all honesty, i think most investors out there, certainly myself as a trader don't think any tax reform is going to get done period and we baked that into our equation. i think today is about north korea. we have an untested president. so we have that variable going on. and a little bit about the hurricane but, again maybe i'm nor sensitive to that than most. melissa: scott martin, your thoughts? >> to gary's point, there are 20 million plus people affected in florida potentially with irma. that is a big deal. i agree with gary, it i

the bulls & bears this week, gary b. smithcarter and jessica tarlove. welcome to everybody. gary k, what is the smart money telling us? >> well first off when you have all kinds of suppose ed bad news and the market has the best week we've seen basically all year it really tells

also here, the bulls & bears, joan as max ferris, and gary b. smith

this week, gary b. smith, jonas ferris, john layfield, and adrian elrod. welcome to everybody.

the bulls & bears this week, gary b. smith ed bad news and the market has the best week we've seen basically all year it really tells you everything you t

one, the president is backing and the other the president is not and if gary b. smith