the rules and steve forbes was talking about. asked the question, should there be a role, there is no rule, that is the problem. that is why people speculate every day in the market about will they raise rates or won't they raise rates? i-man not totally agree with steve forbes on the gold standard though i think it would be a lot better than we have right now but i think some rule needs to be put in place so people like janet yellen and other central bankers are not making up these rules as they go along. trish: if you are not going to put gold standard back in their physical limitations, we talked about this before, there's only so much gold out there. it could be challenging but what would you do with it is not an actual gold standard? >> i would go back to what paul volcker used and i would be curious with steve forbes did. when we sleigh inflation in the 1980s we have a commodity rule where paul volcker was falling commodity prices and adjusted interest rates accordingly and it would be set to a much better system. >> i am s

let's go in focus to find out with steve forbes, elizabethed, carrie sheffield, john tammany, and bruce jabson. john, what do you think about this? the democrats using a plan by donald trump. >> it's a bad idea, and it's no surprise that domed trump would promote it. >> they debt capital for those that do things. we have apple, amazon, dell computer. it would be a brutally impoverished world without wall street. the idea that we penalize those that make a lot of money allocating capital is really hideous. >> bruce, particularly at this time when the markets are really kind of teetering, you really want to tax investors more right now as a stock market -- number two is it is a fairness issue because this is essentially -- it's complicated, but essentially they're taxing carried interests as a gain and they should be taxing these guys as income. it's a fairness issue. >> well, democrats want to double. democrats, by the way, do have a couple of plans, steve forbes, that they're going to implement when they get back from they are summer break. one of which would double the tax that these k

steve? >> who knows. we would all be on the "forbes" rich list. is huge discrepancy, traditional patterns of trading between oil and gold. could you see oil going up and gold has to come down from these levels. $30 for ounce of gold that is twice normally what it is. connell: what about gold, james freeman. i don't think you've been called on yet. traditional safe place haven to go. discrepancy between oil and gold steeves talks about, what do you make of it? >> for all the commodities we tend to cover them as market stories that there is pain among traders. but i know we're talking a lot about the federal reserve dominating the the con. connell: yeah. >> low commodity prices are big stimulus for all kinds of economic growth. connell: right. >> if we could get out of the mind set that growth is result of easy money from the fed, i think we could see this for most people as a very bullish sign. obviously not if you were long on oil as a trader but if you're driver, consumers, pretty much anyone in the u.s. >> want to own an airline right now. conne

you're on with steve forbes. >> caller: good morning, mr. rbes. >> good morning. >> caller: i'll give you a little background. this is in reference to your run in 2000. i was a volunteer then in miami. >> thank you. >> caller: you're welcome. the reason i did this is due to the factor that i was caught in occupied china as a child. my father was u.s. navy, long story. he served under admiral harry yarnell who planned, carried out a mock successful raid on pearl with yamamoto observing and co y copying it which fdr ignore eigo i never vote democratic. the question i had was as a volunteer, why did you back out of that event, your run? i remember dorn nan and keys, both of whom i have photographs. i just need to know that and whether this might happen in this next election. >> in terms of both the 2000 race and 1996 race, when you lose, you don't get the vote, you don't carry on. even though we came close on some of those early contests in 2000, close was not good enough. when you don't win, you will pull out and lick your wounds and move on. t

joining us now, rejoining us now i should say steve forbes and gordon cheng.start with this balance that you see there steve. can we really defined much from that or is this going to indicate or is this much too early in the futures trading for it to mean much? >> we have these kinds of markets and what you focus on is not what happens during the day or happens between 3:00 p.m. and 4:00 p.m.. that's one emotions reached their peak so in 2008 you have volatility during the day and the last half-hour the thing would go berserk. the key thing is yes it may start about what happens in the end when people are saying do i want to be holding stocks overnight that's the key. >> a lot of people didn't want to do that, 6.5 billion shares traded in the market down 588 points. what do you expect to happen? the shanghai market to open and there a lot of speculations in the market, a lot of speculators in the market and rumormongers that those -- spreading rumors that the chinese are going to cut interest rates and they are going to further cut reserve requirements. what d

steve forbes. we are going to be talking about politics. give us an assessment, your assessment of the race so far. what you have seen is an interest in the race. it is absolutely intense and unprecedented. donald trump stirred things up and that has a lot of interest in the first debate. there is a lot of deep dissatisfaction in this country about where the country is that, where the economy is at. the democratic side with bernie sanders. it has not gotten as much play is the donald trump phenomenon, but you have this senator, socialist out of vermont who is ahead of secretary clinton in new hampshire, moving up fast in the national polls. people want big change and they are very unhappy with where we are today. host: mr. forbes, this is a rather indelicate question. what are the drawbacks for a wealthy man running for president? --st: donald trump's mind zero. [laughter] no mattern you run, what your background, when you go in that arena, you are going to expect brickbats. it is like the nfl. it

charles: steve forbes and steve cortez thank you. >> my thoughts on absentee president lackluster economycial justice policies making things a lot less social justice, i don't know if that made sense, but i will when we come back. this allergy season, will you be a sound sleeper, or a mouth breather. a mouth breather! well, put on a breathe right strip and shut your mouth. allergy medicines open your nose over time, but add a breathe right strip and pow! it instantly opens your nose up to 38% more. so you can breathe and sleep. add breathe right to your allergy medicine. shut your mouth and sleep right. breathe right and look for the calming scent of breathe right lavender in the sleep aisle. at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. ♪ ♪ >> one year ago the town of ferguson went up in flames after the death of michael brown triggered racial tensions, exacerbated by interlopers like al sharpton a

let's go in focus with steve forbes himself. mike, swron, along with carrie sheffield and bruce jackson. steve, isn't this a deal breaker? >> it should be a deal braker if it wasn't for a misplaced party loyalty it would be. this is like having animal house do their own sobriety test. north korea. what happens if you don't have 24-7 access to those facilities. bruce, we should mention this comes from an associated press report. they claim to have seen a draft copy of the deal, which says the following. one, iran will provide to the iaea. photos of -- iran will provide . >> also, the site involved here has been dormant for a decade, and i know that -- >> satellite piblgs that show this as an active site. this is more of a test-out. a lot of explosive devices. the iaea tried to go into the site and were denied permission to go to specific areas. the iranians are going to inspect that. >> did you eat that last cookie? trusting a 3-year-old to answer correctly. it's impossible to take them seriously. we have slightly no reason to tr

steve forbes. caller: good morning, mr. forbes. guest: good morning. caller: yes, good morning. this is in reference to your run in 2000. i was a volunteer then in miami. guest: thank you. caller: you are welcome. the reason i did this. it is due to the factor that i was caught in occupied china as a child. my father was u.s. navy. long story. he served under admiral harry yarnell. fdr ignored the mock raid on pearl harbor that yamamoto covered. that is why never vote democrat. why did you back out of your run? i want to know whether this might happen in this next election. of both the 2000 race and the 1996 race, when you lose, you don't get the votes and you don't carry on. even though we came close on some of those are -- early contest in 2000, close was not good enough. when you don't win, you pull out and move on. it was not something i wanted to pull out of or voluntarily pulled out of. the votes were not there. host: do you agree with privatizing public education? guest: i believe, in terms

forbes editor-in-chief steve forbes. ground to cover with him, from mechanics to the state of the economy. first before we do that let's check out the markets. things are setting themselves up on this monday morning. right now things look it i call it almost but marginally 6.5 points higher. s&p 500 i'm call tag flat as well. it was down, now it's marginally up. sarah. >> it's positive flat. >> by the way, crude oil is back below $42. 41.90. 41.65 earlier today. those have been trading at a range together. >> those are back to 2009 lows, almost? >> if we adjust for inflation. we are below 2009. or march 2009. we were in the high 30s in 2008. if you do the dollar adjustment, today's dollar, we are getting there. >> all right. in the headlines this morning, coming to disney's theme park. disney ceo bob i caner has plans over the weekend to bring "star wars" themed land to disneyland and dizfully world. we are will have more on this story a little later on the program, what exactly "star wars" means to disney as a property.

. >> the conundrum is why will nobody listen to steve forbes? he has a simple plan. retail sales tax won't work. we go to a cash economy. we need 18% to 19% of gdp. that's not going to work. a simple flat tax that is progressive like steve forbes talked about, that will work. but the reason that it will not be done, and this is bipartisan, by the way, republicans and democrats, if they have a flat tax, where they can't manipulate that tax code, they don't have a way for themselves to be bought off by doing favors for big companies in their district. that is why it is so hard to get a tax reform done, because these politicians enjoy being bought off. >> okay. thanks, guys. that's got to be the last word. "cavuto on business" in about 20 minutes. kwhaf you got? >> we saw how jeb bush handled the donald at the debate. now he's here with me. and forget illegals crossing the border. did one u.s. city just cross the line? see you soon. >> you absolutely will. we can't wait. >>> up here first, is your privacy more important than our national security? chris christie and ran

steve forbes on this. let's hope he does. meanwhile, it took no time for the administration to call for fines and inquiries after the bp oil spill in the gulf, so why no calls to find the e.p.a. shopping online is as easy as it gets. wouldn't it be great if hiring plumbers, carpenters and piano tuners were just as simple? thanks to angie's list, now it is. we're making hiring anyone from a handyman to a dog walker as simple as a few clicks. you don't have to be a member to buy their services directly at angieslist.com but members save more on special offers. angie's list is revolutionizing local service again. visit angieslist.com today. of any injuries and investigation continues. now back to "forbes on fox." i'm eric sean. see you soon. >>> bp's spill, bad. epa spill, not so bad. this is what the president had to say about bp's gulf oil spill back in 2010. >> when i woke up this morning and i'm shaving and maliyah knocks on my bathroom door and peeks in her head and said did you plug the hole yet, daddy? when we are fouling

steve forbes. we are going to be talking about politics. give us an assessment, your assessment of the race so far. what you have seen is an interest in the race. it is absolutely intense and unprecedented. donald trump stirred things up and that has a lot of interest in the first debate. there is a lot of deep dissatisfaction in this country about where the country is that, where the economy is at. the democratic side with bernie sanders. it has not gotten as much play is the donald trump phenomenon, but you have this senator, socialist out of vermont who is ahead of secretary clinton in new hampshire, moving up fast in the national polls. people want big change and they are very unhappy with where we are today. host: mr. forbes, this is a rather indelicate question. g fopresident? --st: donald trump's mind zero. [laughter] no mattern you run, what your background, when you go in that arena, you are going to expect brickbats. it is like the nfl. it is a contact sport. if you are rich, they are goi

steve forbes on this. let's hope he does. meanwhile, it took no time for the administration to call for fines and inquiries after the bp oil spill in the gulf, so why no calls to find the e.p.a. technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. of any injuries and investigation continues. now back to "forbes on fox." i'm eric sean. see you soon. >>> bp's spill, bad. epa spill, not so bad. this is what the president had to say about bp's gulf oil spill back in 2010. >> when i woke up this morning and i'm shaving and maliyah knocks on my bathroom door and peeks in her head and said did you plug the hole yet, daddy? when we are fouling the e

steve forbes on this. let's hope he does. meanwhile, it took no time for the administration to call for fines and inquiries after the bp oil spill in the gulf, so why no calls to find the e.p.a. technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. hi mi'm raph. tom. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here. of any injuries and investigation continues. now

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steve forbes. >>> be sure to vote in our poll. the question tonight is -- we'd like to hear your thinking on tactics. cast your vote at loudobbs.com. >>> red bull capturing a death defying stunt. watch as a helicopter chases down a thousand horsepower drift car while hurt ling sideways down an airstrip. the pilot is none other than felix bum gartner, the man who once sky dived from the edge of space, more than 120,000 feet above the earth. this stunt with the helicopter, at the control ofs the twin-engine helicopter chasing down a drifting legend as if that weren't hard enough. they also circled a military vehicle towing an aircraft. what does it take? my gosh. come on, felix! what will you think of next? impressive, indeed. >>> up next, a few thoughts on the big wild card that is out there in cleveland waiting for the debate. >>> and crews finally getting the rocky fire in northern california under semblance of control, but the threat of lightning, thunderstorms and higher winds threatening to create more problems for firefighter

we'll leave it at that thank you, steve forbes. >> thank you. catch steve and myself on on fox, this and every saturday, on the fox news channel 11:00 a.m. eastern time, every saturday. we look forward to seeing you there. cheryl: all right. neil caveto, cavuto. cavuto. cheryl: you will never live that down. don't even go there, buddy. david: listen with a name like asman you can call me anything you want. cheryl: we heard that one. few other stories on our radar. new push to sell the nuclear deal with iran. in a speech today, president obama described an upcoming congressional vote on lifting sanctions as either vote for war or peace, labeling republican opposition as knee jerk partisanship. >> the final criticism, this is sort of a catch-all you may hear, is the notion that there's a better deal to be had. we should get a bert deal. those making this argument are either ignorant of iranian society or they're just not being straight with the american people. cheryl: meanwhile, the strongest storm on earth so far this year, taking direct aim at

steve forbes -- >> steve, do we call these islamic terrorists murderers or terrorism? terrorism is murderers with a motive, with a point. it's for religious reasons or political reasons. >> if you don't call your enemies what they are, it's like calli calling nazi's murders. that's why the world doesn't think we are serious about fighting them. they don't think we are wou rri about fighting iran. that's what got the world worried. we are not serious about fighting. they want to kill us. >> steve, what should we call them? >> islamic terrorists who are out to not only conquer the middle east, but reek havoc on the rest of the world. they are clear. isis is clear about hitting all of us. they are open about it. >> bruce, the president did say terrorists, the president used the term terrorist and said that terrorists continue to target innocent civilians in that speech. are you okay with the president continuing to routinely call them murderers and down play their status? >> i don't think obama has a lot of street cred on this issue. he did put the bullet in the eye of bi

steve forbes -- >> steve, do we call these islamic terrorists murderers or terrorism?

steve forbes is talking about it, a tax credit, that will be progressive. we don't know if trump would agree to that. elts not deposited that just passes out and what's the most efficient way. that's why i disagree. when you talk about the financial impacts of a big government, yeah, that leads to economic distress. it's really the moral whered. if you own your life, you own your wages, and that's what these candidates should be talking about. >> you're a student of political history. are the democrats in some kind of identity crisis? have they forgotten they were once the party of little government? >> i think so. i think that they realize that telling everyone that they'll give them a free lunch and free health care is the fastest way to get votes. had he can't hire new people and create more businesses and expand their businesses. >> we've got only a little time left. wayne, missing in a free college education debate is how these left wing academics have raised college tuition prevent hitting middle class families really hard. what do you think? >> well,

let's go in focus with steve forbes himself. mike, swron, along with carrie sheffield and bruce jackson. steve, isn't this a deal breaker? >> it should be a deal braker if it wasn't for a misplaced party loyalty it would be. this is like having animal house

let's go in focus to find out with steve forbes, elizabethed, carrie sheffield, john tammany, and bruce jabson. john, what do you think about this?

chairman editor and chief for forbes media steve forbes is live in new york.ice to see you, steve. >> good to be with you, greta. thank you. steve, all right. so what in the world happened today and how worried should americans be? i just listened to my colleagues say it's going to bounce back but i don't know. this is gambling. >> well, that's why you shouldn't try to time the markets. that's a fool's game at the end of the day. especially with your retirement accounts. what happened today was three things. big one was concern about the chinese economy, the feeling of the government doesn't know what to do or doesn't have a consensus on what to do. it isn't the second largest economy in the world. worry, too, which has been around for a while about profits in this country, major companies, that started deteriorate. those started to deteriorate in the fourth quarter of last year going on to this year if you don't have rising profits. hard to get rising stocks. and then developing countries around the world, especially those based on commodities, mexico. brazil

let's go in focus to find out with steve forbes, elizabeth mcdonald, sabrina shafer, john, and bruce jackson. imac, defund it? >> yes, defund it. this is a disgrace. they dishonor themselves. it's not fetal tissue. these are babies. i am for women's health. i am for over-the-counter birth control without a doctor's prescription, but what planned parenthood did here is abhorrent. there are other women's community health centers that can handle mammograms, cervical cancer, you know, screenings and the like. i think that planned parenthood has hit the end of the road right now. >> bruce, defunded or keep the funding coming? >> i think you need to keep the funding going. now, listen, when we had the obama care debate and a few people lost their health plans, people were saying the president lied because he said you couldn't keep your doctor. now what you are saying is you have 700 health centers, and you have women and men going to these centers for cancer screenings and what not, and you are saying if they like their health center, they can't keep it. >> well, sabrina, what you had is a

will be coming out in just a couple of weeks and his team may be reaching out to our very own steve forbes. before they do steve talks to us. joining steve today is michael, elizabeth mcdonald,