jerry webman, from oppenheimer funds will join us on that.bt deal does not change the shutdown and no lending or financial verifications. we have a ceo on the shutdown impact on homebuyers. twitter question of the day, so how long will the shutdown shuts down the nascent housing market recovery? tweet us at fox business #mkm. ashley: what it doesn't need. lady gaga, you know her, encouraging the little monsters to get covered. she doesn't cover up. hey,,but why celebs are jumping on the obamacare bandwagon. always a good show when you get lady gaga in. major averages moving because of a possible debt ceiling extension. we'll take any good news i guess. lauren simonetti down on the floor of the nyse. lauren? >> ashley, that is exactly what it is. we'll take any good news. we got hit hard over the past 10 days with the partial shutdown. the dow industrials are three or four paints away from the highs of the session. everything is sharply higher. even the nasdaq is popping 2%. financials, banks, credit card companies are leading this market. eve

joining us right now, jerry webman, chief economist from oppenheimer funds.government shutdown are we doing real damage or psychological? >> i think it's more fear of what's going to happen. the fact we're not down further than we are, we're conditioned to think, oh, well, they'll pull off something at the last minute. >> that's always the condition. is that complacenccomplacency. should we really believe that. >> the other side of it, it's possible, we may see something valuable come out of it. entitlement reform for ee quest rags cuts. that's starting to get kicked around in the gossip mills. i don't think anybody wants to get too excited one way ort other right now. >> stocks are coming down. are they getting cheaper? are they getting more attractive? do we look at it that way? is it a glass half full thing here? >> i think if we come back -- we all want to talk about this political stuff. i've been able to hide that on the political side. i had that for most of my 30 years in this industry. we're probably paying too much attention to the politics and not

jerry webman is the chief economist at oppenheimer funds. welcome to both of you. let's start off talking about this situation. peter. >> well, i think what was interesting to me -- i was disappointed, wall, by gene sperling's comment. he's a smart guy and a good guy. it crept into john's comments this morning in anticipation of the interview. the magic word that appears to be coming from the interview is complacency. a false sense of complacency about the market's response to the shutdown. i think it's an accurate sense of disgust. i think what you're going to see on, you almost have a situation where you're seeing the administration and washington generally trying to talk the market into a panic over this issue. because i think their view is if they can convince the market that the stakes are high enough, which they obviously are, and the likely consequences are disastrous enough, which they are not and will not be, that the market craters that will put greater pressure on the republican party to drop the complaints and move on and get a deal done. >> is this deb