Somers will be with me shortly. Are we out to degrade and destroy the enemy this time . Well look ahead on sunday morning futures. Good morning. A turbulent stock market, ebola anxiety, as we head into the last couple weeks before election day. This as the race for which party will control the senate could not get any tighter. Paul ryan is the congressman from wisconsin and chairman of the house budget committee. Congressman, good to have you on the program. Welcome. Good morning. Nice to be back with you. Good to see you. Congressman, i would like to get into three things with you. The mid terms, the governments response to ebola and isis and then of course talk about the economy and budget issues. So lets start with the mid terms. How confident are you that the gop takes the senate . I feel pretty good about it actually. Ive been around the country. We have fantastic candidates. I was just with pat roberts on friday in kansas. I think all of our candidates are doing very well. I think were going to prevail. The thing is the democrats have a lot more money. Theyre running extremely negative ads against our candidates to keep the races close. People are sick and tired of the United States senate doing nothing sitting on 381 bills the house passed and sent to the senate that are go nowhere because of the senate, i think well prevail and confident that well get the senate. I want to ask you about the priorities. If gop does take the senate, what will be the main priorities in terms of policy changes . Stay with us on that. A lot to talk about with you this morning, congressman ryan. Control of the senate is hanging in the balance. Whats the outlook for Election Night . Eric shawn has been doing the work on this. Good morning, everyone. You know, Election Night could turn into election weeks. Take a slew of dead heat senate races and unusual state election laws and you could end up not knowing which Party Controls the senate until after congress is seated next year. Remember this . The count and recount in florida. It took 60 days before george bush was certified as winner over al gore in the president ial race. Now we could face a rerun of sorts. Republicans are predicted to pick up enough seats to hand them the majority. Two will head to runoffs after election day according to the most recent polls. And the Louisiana Senate race may not be decided until december 6th. If neither one gets at least 50 next month. The most recent real clear politics poll average predicts that will happen. You know that guarantees practically that the contest wont be decided until three weeks before christmas. Take a look at georgia. Those voters could be shaking off their new years hangovers in the voting booth. Their runoff is january 6th. Democrat Michelle Nunn is neck and neck with david perdue. The latest clear politics puts perdue ahead by just over half a point. Still, under that magic 50 threshold. A runoff could come three days after congress convenes. Other tight races include alaska, colorado, kentucky, New Hampshire and North Carolina not to mention of course independent greg orman tied with pat roberts in cappkansas. The only uncertainty is uncertainty we have and only certainty is bean soup served in the Senate Dining room since 1903. Thank you so much. Back now with congressman paul ryan. Congressman, what are the priorities from your standpoint if in fact we were to see the gop take the senate, whats first on your agenda . I can tell you the only thing that harry reid lets move through the senate is bean soup right now. Nothing is getting passed in the senate. Job legislation number one. Well pass bills to help create jobs and give people certainty. We need certainty on taxes and certainty that our fiscal house is being put back in order and there are a lot of things on energy front we think we can do to create jobs. Well focus on jobs number one. Getting people out of this malaise economy and getting people back to work. A whole list of issues narrowing the skills gap and getting people back to work that reid is sitting on and if we get the senate, we can put these bills on the president s desk and have him make a decision on somethin from doing for some time now. Practically speaking, whats the low hanging fruit in terms of job creation in your bill . A list of energy bills that we have passed. Keystone pipeline, opening up our energy resources, gas terminals approving those and helping european friends get off putins gas and help japanese and those things would create jobs and help our manufacturing sector. Those are number one. Number two, theres some spending bills. We have to get back to a Highway Trust Fund thats going bankrupt. Medicare issue dealing with doctors that needs to be dealt with. There are a lot of things that have to get done that weve done in the house already that we think can add some certainty to the economy, give businesses and hard working taxpayers a little more confidence to take a risk to save, to plan, to invest, so we can get out of this slow growth phase were in. Were of course at the beginning of the Third Quarter reporting season for corporations. We are really getting a window into how Corporate America is doing. Yet the stock market has been as volatile as it has ever been this last week because of worries over the Global Growth story. How important is the International Story and what do you think has changed to make investors so rattled . I think the absence of American Leadership is the foundation of this problem. I think that we have seen america retreat in the eyes of the world. Our allies have been weakened. Our enemies have been strengthened. I think the president proposing to decimate the Defense Department as he has with the new budget is very weak foreign policy. Bad decisions in iraq and syria which helped give rise to isis. These things, the lack of American Leadership, and no progress on trade, these things are giving a destabilized future. This is telling the world that america is retreating from its place and that compromises our prosperity and our security quite frankly and then you throw on top of it things like ebola and ukraine, gaza, and you have a real problem on your hands and a lot of uncertainty and thats why you have skittish markets in part. Whats your reaction to the governments response to ebola and in particular fridays announcement that ron klain will be the new ebola czar . He doesnt have any Healthcare Experience. I know ron klain. He has no Healthcare Experience whatsoever. He was in charge of doling out stimulus money and we saw how that worked. Im puzzled by that selection. Its an inside crony type of selection. My bigger concern is just competence of government. Heres the problem generally. When you grow the government endlessly and spread it thin, it doesnt do anything very well. We believe in a limited and effective government so it does what its supposed to do well and leads to the state and people respectively to do other things. I think we should use every reasonable precaution possible to get ahead of ebola and i think that does include looking at things like travel restriction, necessary quarantines so we use every possible precaution we can think of to contain the spread of this. Right now theres a huge lack of confidence in the competence of our government and i think thats in large part because of the president s failed policies. And you think voters are thinking about this as they go to the polls . Absolutely. Believe me, ive been crisscrossing wisconsin all fall and traveling the country all fall working with candidates and people are disgusted. They are disgusted they dont think the federal government has limits. We have this veteran scandal. Irs targeting people based on their political views. We have incompetence across the board. We have millions of people in poverty. Tens of millions of able bodied people not working and not looking for work and not counted in statistics anymore and people are fed up. Were fed up and we want to see these bills to address these concerns that weve passed out of the house that are piling up in the senate collecting dust. We want to see them go somewhere and thats why people are fed up and i think well have the chance to do this if we get the senate, which i think we will. Congressman, good to have you on the program. We know the next 16 days is ultra important. Well see you soon. Thanks, maria. Take care. Congressman paul ryan joining us. Wall street bracing for another wild week this upcoming week. Former treasury seculary somers is on deck next with how this impacts your bottom line. Follow me on twitter. Let us know what you would like to hear from larry somers and stay with us as we look ahead on sunday morning futures. So ally bank really has no hidden fees on savings accounts . Thats right. Its just that im worried about you know hidden things. Ok, whys that . No hidden fees, from the bank where no branches equals great rates. When folks think about wthey think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. 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But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. So i can reach ally bank 24 7, but there are24 7branches . Its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. Volatile is one way to describe the stock market recently after six consecutive down days the market rallied on friday but there are other aspects of the economy all over the place. Oil prices have plummeted. And also retail sales are also down as we enter the crucial Fourth Quarter and in europe weak data out of germany. Larry summers joins us now. Larry, wonderful to have you on the program. Good to be with you, maria. There are a lot of things happening in the u. S. That are positive. Corporate earnings doing well. Yet, you look at europe and asia, they seem to have slowed. What has changed in your view, larry, to cause such nervousness in the stock market . A lot of it is whats happening abroad. People thought europe was out of the woods and europe is learning the same lesson we learned in the United States in the last few years and that japan learned a decade ago which is just because you stop the financial emergency doesnt mean you get adequate or satisfactory growth. And its now clear that theres a real risk of another recession in europe. Its now clear that in the industrial world as a whole, the deflationary risks exceed the inflationary risks. Its become clear that stagnation is the challenge and theres a growing concern in the marketplace about how rapid growth will be in the industrial world and the whole world still depends crucially on what happens in the industrial world. Thats why you saw the stock market move in the way it did and at the same time you saw Interest Rates coming down rather than going up. Thats a reflection of a greater concern about deflationary forces. You see it also in Commodity Prices particularly the price of oil that theres a concern about inadequate demand which comes in part from a concern that policies are not orientated enough to growth. I was reading what you were talking about in terms of infrastructure and spending on infrastructure and how that could be a positive. I want to get to that in a moment. Let me ask you this. Are you worried these concerns abroad will cut into earnings . I thought it was interesting last weekend when the vice chairman of the Federal Reserve said if International Economy deteriorates, the Federal Reserve will have to rethink how quickly it raises Interest Rates and then you had fed officials this past week saying the Federal Reserve is supposed to get out of quantitative easing and bond buying program, maybe we need a new bond buying program. Quantitative easing number four. I wont prescribe for the fed. Obviously a set of concerns about the Global Economy affect the u. S. Economy. It affects the u. S. Economy because u. S. Companies do business abroad. It affects the u. S. Economy because of our exports. It affects the u. S. Economy because global risk aversion on the part of investors affects our market. Its something that we obviously have to be watching very carefully and i think the important thing for people to understand is that our concerns are not that somehow inflation is going to take off. Expected inflation as measured in markets has come way down in the last several months and the risks are more on the deflationary side and weve got to be conscious of that and thats why a focus on driving growth has to be the right focus for the United States and ironically as the imf pointed out last week, a proper focus on growth especially through Infrastructure Investment will actually pay for itself in the form of lower debt burdens. We have to be careful not to think austerity in an environment when actual spending on infrastructure could be more helpful than anything else . Thats right for the United States and its crucially right for europe. Europe unless it changes course is in real danger of following the path that japan followed from the 90s onward and letting a deflation set in and thats a very difficult thing to get out of. Its in real danger of having its only source of Economic Energy be exports which in turn takes Economic Energy away from the rest of the world. Its in real danger of a deflationary psychology creating a psychology of protection, which means that theres no innovation and little structural change. And so that is the most dangerous point for the Global Economy today. At the Imf World Bank meetings last night when finance ministers came together, there was growing recognition of it but perhaps enough growing recognition to alarm the markets but not enough recognition to get european policy makers to step up their actions. Real quickly very briefly, is China Growing at 3 or 6 . Probably more like 6 than 3 right now. I would say the risks to chinese forecasts are on the downside than the up side. Aims to stop isis appears to be working for now . Be working for now . A navy canptain is with m m m mm from fashion retailers to healthcare providers, jewelers to Sporting Good stores, we provide Financing Solutions for all sorts of businesses. Banking. Loyalty. Analytics. Synchrony financial. Engage with us. Suddenly youre a mouth breather. A mouth breather how do you sleep like that . You dry up, your cold feels even worse. Well, put on a breathe right strip and shut your mouth. Cold 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 do the one thing you want to do. Sleep. Add breathe right to your cold medicine. Shut your mouth and sleep right. Breathe right. Add breathe right philosophy is, reynolds . No. Not exactly. To attain success, one must project success. Thats why we use fedex one rate®. Their flat rate shipping. Exactly. It makes us look topnotch but we know its affordable. garage door opening sighs honey, havent i asked you to please use the. We dont have a reception entrance. Ship a pak via Fedex Express saver® for as low as 7. 50. Welcome back. The u. S. Military making gae ii in the fight against isis. They have pulled out of the west side of kobani. But success will not happen overnight saying the u. S. Is trying to conduct this operation with as much care as possible. I would also note that weve been very careful in how weve gone about conducting strikes because we want to avoid unnecessary collateral damage. Had we killed a lot of innocent civilians and specifically in sunni areas, i think that its fair to say that we would be a much different place at this point. This has meant conducting a fraction of the air strikes against isis as we have in our other recent wars in iraq. Retired u. S. Navy captain and Fighter Pilot is a fox news analyst and joins me now. Good to have you on the program. Nice to be with you. Can you compare the quality of these air strikes to others and is this the right path . Well, i think what were doing right now is being very precise as the general said because they dont want to have collateral damage. I have full trust and confidence in every one of the young men and women who are flying. They are True Professionals and theyve been well trained and have the best weapons that this country can offer and their weapon systems are fully integrated with them as operators. No doubt in my mind about that the overall strategy is there is no ground force to coalesce the enemy allowing our men and women flying this aircraft to pound dense targets so they stay dispersed and they move in small groups and its very difficult to roll them up. The general said we would be at a different place if not for this strategy that we are being ultracareful. Is it the reason that we do not have these Ground Troops there following up on the air strikes, is that the reason really that we would be in a different place in terms of more successful . Thats what i think he means. In other words, if you take a ground force and you put it up against these small dispersed isis forces, they would either steam roll them or the isis forces would have to dense ffal these air strikes. When you look at whats been reporting from the turkish side with cameras over kobani in the last couple weeks a lot of those bombs are going off inside the city of kobani, which tells me there is somebody inside with the targeting equipment talking to those folks in the air because theyre taking out buildings inside a city. We would not under any circumstances drop bombs inside a city unless somebody had eyes on the target and was coordinating with those people in the air. Do you think well see Ground Forces at some point enter this . I think we will see u. S. Advisory teams out in the field with Ground Forces but i really dont see americans straight leg infantry battalions and divisions being sent over as we did in iraq and as we did in afghanistan. I dont see that. From your standpoint, how does this end . This ends with the sunni reaching the political settlement with the shia inside of iraq where the shia stop persecuting them and allow them a true seat in the government. At that point, they will overthrow the isis. The isis is a small percentage of the overall. You cant have 30,000 manned division of iraqi army run from 10,000 excuse me, 3,000 isis people. They were in the middle of a sunny lasunni land. They are using fighters as a tip of their sphere. Once they reach that political conclusion in baghdad if they can get there, then what will happen is they will throw them out, overthrow them just as isis folks as they did their predecessors, al qaeda in iraq. Captain, good to have you on the program. Thank you for your insight this morning. Captain chuck nash joining us, u. S. Navy retired. Early voting begins tomorrow in texas. A new voter i. D. Law means changes at the ballot box. Will it prevent voter fraud or prevent thousands of texas citizens from voting . Hard it can be. How. To breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,. You can get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Sfx blowing sound. Does breathing with copd. Weigh you down . Dont wait ask your doctor about spiriva handihaler. From americas news headquarters, im eric shawn. Right now authorities in virginia are conducting forensic tests to confirm in Human Remains Found in a rural area of indeed those of missing university of virginia sophomore student hannah graham. Police told grahams parents about the discovery. She disappeared more than a month ago. Police believe this man was the last person seen with her in those surveillance tapes. Hurricane hannah passing close to hawaii. The National Weather service says conditions could get worse by tomorrow. The center of the storm is 100 miles south of the big island. Ill be back at noon eastern with half an hour of news and then doctors will be in joining uses for sunday house call at 12 30 eastern and theyll have the latest on ebola. Now back to sunday morning futures and maria. Thanks. Early voting gets under way tomorrow in texas and voters without a state issued i. D. Wont able to cast a ballot. The Supreme Court ruling late friday that texas can enforce its strict voter i. D. Law. Opponents of the law say it could prevent some 600,000 registered texas citizens from voting. The court struck down a new voter i. D. Law in wisconsin but allowed i. D. Restrictions to go forward in ohio and North Carolina. We bring in our panel now. Ed rowlands is a fox news political analyst and judith miller, Fox News Contributor and keith, the ceo of Risk Management research firm. Thank you for joining us. Voter i. D. Law. What did you make of that . Whats the implications . I dont think there is big implications. People should have an i. D. When they go to vote. People are going to vote. I think those who dont have i. D. S, democrats will make sure they have i. D. S. Does it stop others from voting . Theres no evidence of that. So my sense is its more of a security issue and it needs to be there. Whats your sense of mid terms right here . Any thoughts on voter i. D. On mid terms. Its too close to call. Im amazed given up popularity of obama and his policies why this is even so close but it is. That says a lot about the weakness of the Republican Party and its message. What you heard on your show, paul ryans concentration on jobs, on growth, thats what i think people want to hear and a lot of these races theyre not hearing it. In fact, the lack of growth caused a whole new conversation within the Federal Reserve. Something you saw coming. If you look at what could happen in the general election next year, i think the economy and the stock market will be much bigger topics than they are right now. The democrats have had a very big luxury in just saying, look, unemployment is low. Stock market has never gone down. Theres a lot of things that are starting to come unglued the last couple weeks particularly the bond market and stock market. If theyre right, republicans have something they can play with with a much bigger voice than they currently have. The problem is you have 5 billion being spent on negative advertising. 95 of all advertising is negative. So its hard to break through with any message. The message really is if you like obama, vote democrat. Keep incumbents there. If you dont like obama, vote for change. Obama says basically set that tone when he said im not on the ballot but policies are on the ballot. The negative tone contributes to the distrust and mistrust the people have of government and how were going to come together after this midterm and pass those 381 bills that paul ryan was talking about. No, were not, if we continue to be as divided and these ads are part of the problem. I thought it was interesting to hear janet yellen talk about income inequality. The Federal Reserve policies are probably the lead item that is widening income inequality. This is a huge and wide open topic for any political candidate. I still cant for the life of me understand why nobody has got on that bone and eaten it loudly. You have a policy to inflate. American cost of living in alltime highs. That created twothirds of the country feeling like theyre in a recession. Negative wage growth. The fed has papers to suggest this policy to inflate did nothing but widen inequality gap so for her to whine about it, to me i would make a huge example of that and say obama, thats yours and you can own it too. People are generally mistrusting of the Federal Reserve. And mistrusting of institutions largely speaking. So what do you think will be the priorities . Lets say the gop takes the senate. What does gop come out swinging with . Is it tax reform . I think tax reform is a long, complicated issue. How about Energy Policies . Energy policy is something well move forward on quickly and things that mr. Ryan talked about hell push quickly. All right. More on this topic. Lets look at whats coming up on media buzz. Howie what have you got 20 minutes away . Well look at the reporting on midterm elections as youve been discussing. Well take a good hard look at the relentless ebola coverage. Is it overheated . Is it scaring people and turned into a partisan beltway slug fest . Kind of thing that people hate about washington but is on your Television Screens 23 hours a day right now. Its relentless. Howie, well see you at the top of the hour. Thank you so much. Air strikes in syria shifting from kobani toward Oil Facilities believed to be funding isis fighters. Well get into that next. Are the u. S. And Coalition Forces really doing all they can to wipe out the surge . Our panel on that as we look ahead on sunday morning futures. Back in a moment. receptionist gunderman group. Gunderman group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. Awesome awesome awesome awesome all awesome i love logistics. I had tried to do it in the past. Ng with chantix. I hadnt been successful. Quitting smoking this time was different because i talked to my doctor and i. I got a prescription for chantix. Along with support, Chantix Varenicline is proven to help people quit smoking. It was important to me that chantix was a nonnicotine pill. The fact that it reduced the urge to smoke helped me get that confidence that i could do it. Some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. If you notice any of these, stop chantix and call your doctor right away. Tell your doctor about any history of Mental Health problems, which could get worse while taking chantix. Dont take chantix if youve had a serious allergic or skin reaction to it. If you develop these, stop chantix and see your doctor right away as some can be lifethreatening. Tell your doctor if you have a history of heart or blood vessel problems, or if you develop new or worse symptoms. Get medical help right away if you have symptoms of a heart attack or stroke. Use caution when driving or operating machinery. Common side effects include nausea, trouble sleeping and unusual dreams. I am very proud. I love myself as a nonsmoker. Ask your doctor if chantix is right for you. Welcome back. We bring back our panel. How do you think the campaign against ice ssis is going at th point . Were not fighting to win. Were fighting to not let them win and thats not a good policy. They are scattering and they are not losing any ground but were not gaining ground. Is this all politics again which is just so sad . Do you think after the midterm elections well hear president say boots on the ground . Is this going to be his no new taxes . We already have boots on the ground. We have 1600 soldiers. They are not all protecting the u. S. Embassy. Clearly they are advising and providing intelligence and well need more of them and i suspect that well have that after the mid terms. However, you have to look at whats gone on on the ground. Kobani has not fallen. Everyone predicted that it would. They stepped up their air strikes from 7 to 64 in the last two days and its working. Isis is fleeing that city. They only control 20 of the city. This was a big target for them psychologically important and theyre losing it with air strikes. Can they do the rest that way . I dont think so. They are making progress and we have to acknowledge that. Find it extraordinary that as isis approaches now some of our Oil Facilities, oil prices have gone down. Theyve crashed. Youve seen a 25 decline in the price of oil since june and you would argue that the heat of the newsiness on isis and Everything Else has been accelerating. So in the face of that, i spent a lot of time with investors in london this past week and people are starting to talk about the game theory associated with what do saudis do . Do they starve people out with 60 to 70 dollar oil . When you look at Oil Producing countries its different in terms of cost. For cost for saudis, they spend pennies or dollars on the price of oil. Thats the point. Theyre the lowest cost producer. In qatar, you look at different parts of the world and they are sitting there saying we can wait longer. My question is who has the edge on that . I dont know. If we bomb the oil which is what part of the strategy is today, well have a big impact and well get other countries more interested than they are today. With Oil Prices Going down, thats going to change our relationships around the world. Its going to change our relationship with the saudis and change our relationship with the russians. I hope dependency on that region will start to diminish so we can have a more independent policy that reflects our Core National interest. Thats why this gas revolution is so important. You think that the saudis understand that america has the revolution and were working toward it and they say if we push prices down, maybe americans will put less enthusiasm into the shale revolution. They are sitting there looking at the longer term picture because they can. A lot of people cannot. Putin cannot look at a 65 oil price and feel like hell be enriched with petra dollars. There are players who do not win with that oil price and they could run the table. I think saudi arabia has enormous internal politics that people dont look at. They have a huge dissatisfied middle class thats tempted by the isis message part which is income equality. They cannot sustain this for a long time. Were not going to have independent we talk about it all the time. Energy independence unless we do things like pipeline and other decisions that have to be made. We still got very strong Environmentalist Movement blocking this stuff. Until we free some of that, its not going happen. That brings me back to mid terms. The president pushed off the decision until after the mid terms. How soon after the mid terms will we hear leadership on Keystone Pipeline . I would hope before christmas. Im not sure. If we were to see keystone up and running, thats more of the evidence that we see that the u. S. Will in fact become an energy exporter. If he vetoes the bill, my sense is hes more lame duck than we think he is even with Senate Majority on the republican side. No one is going to take him seriously. Real quick on ebola and the new ebola czar, ron klain. Whats your thought . Hes a capable guy with no experience whatsoever. Hes like me. Hes a political hack. At the end of the day would you put me in charge of ebola . Yes, i would. I think it should be a doctor or someone who has run largescale operations like a general or someone like that who basically is used to getting charged. The chief of staff of the Vice President doesnt do anything but service the Vice President. Hell be loyal to their team. You need a Political Animal running this one because there are many parts. The problem is with no Healthcare Experience . We have a superb head of cdc. Hes not a communicator as weve seen. You need someone who gets everyone on message and coordinates priorities. Whats most important . What do we do about a flight ban and these important issues and communicates that message effectively to the American People so were not scaring people to death. This is more than just communication strategy. We have to make some steps that this president is not willing to do. He certainly was under tremendous fire this week at the hearing. The cdc has been for their response. Quick break and then corporations reporting Third Quarter earnings this week. Will they help stabilize these crazy markets . Our panel on the u. S. Economy and earnings as we look ahead on sunday morning futures. You, my friend are a master of diversification. Who would have thought three cheese lasagna would go with chocolate cake and ceviche . The same guy who thought that small caps and bond funds would go with a merging markets. Its a masterpiece. Thanks. Clearly you are type e. You made it phil. Welcome home. Now whats our strategy with the fondue . Diversifying your portfolio . E trade gives you the tools and resources to get it right. Are you type e . Ghave a nice flight r bag right here. Traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. And were back with our panel. Guys, i want to go back to something that happened last week first to give us a sense of whats going to happen in the coming weebs. Last wednesday we had the retail sales report for the last month come in below expectations. The market crashed as a result. It was down almost 500 points in the early going. James bullard, Federal Reserve official next day comes out and says maybe the fed should think about a new bondbuying program. Hes talking about a new quantitative easing program. This is all predictable behavior by the Federal Reserve. The minute they see anything, its like watching groundhog day. The minute they see anything bad from an Economic Perspective where do they go to, money printing. The bond market that day had its biggest down move in bond yields weve seen ever. It was violent. A quick move. Hedge funds were off size. People making a lot of decisions in the moment. It was on an Economic Data point miss. As the economy surprises to the down side it becomes a bond market issue, stock market bubble starts to pop and political reaction is first comes from the fed, protect the market and obama has to wear that, good luck with that. Most people say they want to see a flush out. They want to see the market sell off to make them feel like, okay, we got through it, maybe i can look for opportunities and value. Do you think theres more to come or did we see the flush out. They say they want the flush but theres different types of flush you can have. The flush, i think a lot of people say lets get over with it, raise Interest Rates. Get the Federal Reserve out of the way. Reagan had it, clinton had it. It works in this country. But now what you get is the flush is actually the bad kind of flush. You get a bad Economic Data point and immediately the flush has to be rescued by a central planner that people on a genuine basis on the buy side, Money Managers do not trust the Federal Reserves policy tune to inflate works economically. It has not worked. It worked for 5 to 10 of the people. You think more sell off to come . I think so. What do you think about how this plays out going into the midterms and jobs theres not going to be jobs. Nothing between now and the midterms. The president will keep talking about the good economic news. You have another week like this my sense two more senators in trouble. Well, i still think that when you have janet yellen talking about income inequality, this is the problem, i think they will be focusing on stimulus, stimulus, stimulus to get the economy moving. I dont see a departure. Larry summers just talked about infrastructure. Summers also talking about japan. You know, japan spent 6. 3 trillion on roads, bridges and whatever else you could slap out there. The reality is more and more Central Planning or more and more what has not worked is the definition of insanity. Were at this point where all central bankers cut to zero. Now the policy to inflate is just that to never let asset prices or stocks go down. Now you have the great threat of deflation. In other words, they go down. They dont go up. We go through this election cycle. I think it will be a huge issue for politics. Infrastructure should have been the first stimulus. I think we spent 2 billion on stimulus, infrastructure would have bern a great thing. If you think youll get through this congress when you have to take the defense sequester off to fund this war, can barely get a highway bill through. They can blame the republicans for not doing it. One thing to watch for the week ahead on sunday morning futures. Futures. Back [ hoof beats ] i wish. Please, please, please, please, please. [ male announcer ] the wish we wish above all. Is health. So we quit selling cigarettes in our cvs pharmacies. Expanded minuteclinic, for walkin medical care. And created programs that encourage people to take their medications regularly. Introducing cvs health. A new purpose. A new promise. To help all those wishes come true. Cvs health. Because health is everything. Cvs health. How in argentina,rass change engineering in dubai, aluminum production in south africa, and the Aerospace Industry in the u. S. . At t. Rowe price, we understand the connections of a complex, Global Economy. Its just one reason over 70 of our mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Were back with our panel. One big thing to watch for the upcoming week. Im watching the new government in iraq. We finally got defense minister and interior minister and see whether they can get on track and put an army together. Anything on the midterms. Im watching New Hampshire. Senator brown making a great race and may be a senator from New Hampshire. Judy. Sed watching iraq. I dont have to. Ill watch ebola at home. Ill watch for another case. I think that if we have another case, which i hope we dont have. Well have a flight ban, absent that i dont think so. Keith . Ill be looking at the russell 2000. Its a broader measure of the u. S. Stock market. Like the dow. 80 of revenues in the russell come from the u. S. Its a good way to get in touch to whats happening. If it starts going down, its been down for six of the last 11 weeks. Its a really negative signal for the u. S. Stock market. The russell 2000 the middle of the market. Small and midcap companies. Its the heart of the liquidity crisis. They own these stocks and more pain to come. Great to see all of you. That will do it for us on sunday morning futures. Im maria bartiromo. Ill be back tomorrow morning on opening bell on the fox business network. Click on channel finder at foxbusiness. Com. Have a great rest of your sunday. Mediabuzz with howard kurtz is up next. Good evening, everybody. Confidence in the federal governments ability to prevent an outbreak of ebola here in the United States is all but collapsing. That after revelations that op only has a has contracted ebola but she also flew on a commercial flight with a slight temperature. The nurse identified as 29yearold amber vinson. She was very involved in the care of patient zero thomas eric duncan, drawing his blood, inserting catheters and dealing with his bodily fluid. She is not the only hospital worker for two days without
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