Shock that were realizing brutality of isis but none of this should be surprised. This is entirely consistent with isis behavior. This is the way they have been acting or idealogical peers have been acting this, is shocking in the sense it is brutal this is completely normal behavior. Melissa this is your specialty. What is the appropriate response from the president in the next few hours . What would you have him do. I dont do political analysis but i tell you strategically melissa perspective what would be next thing to keep americans safe and stop this force. That is not political. That is military. From a purely strategic perspective, isis declared war against United States. Regardless what political or Public Policy or legal manueverring we do here in the beltway, isis is coming after america. We are on their dance card. They will kill us wherever they can. Right now that is journalists inside of syria and iraq. It is only a matter of time before they come at us here in the United States or western europe. There is no restriction or limitation to the isis level of ambition. They want a caliphate. They want its a big as possible. They dont want internal caliphate. They want to export terrorism from it. This core differentiating between them and every other terrorist organization. Theyre the only terrorist organization that organized their own nationstate and they are using that to export terror. Melissa what is the best response . The best response is overwhelming military force to destroy people that wont be recalibrated and engage in a political process with those that will. The vast majority of citizens of iraq want a political process that works. That respects rights of all iraqi citizens. Even today, with all the mayhem inside of iraq we still have a solid majority of iraqi citizens who want to engage in the political process. The odds are stacked in our favor but they will not fall out in our favor unless we engage in a stubsubstantive political process with the iraqi government. For all practical purposes United States ignored iraq the last couple years. Maliki governed iraq in a illegitimate fashion. As a result, weve seen the political process stomach before. That doesnt mean it has failed. Iraqi citizens are willing to go to the polls and willing to participate in the political pros es. Melissa let me ask you before we run out of time. If we have the will, do we have the power to go in and blow isis off the face of the earth . Do we know where they are . Do we have capability to do it, if we had the will to go out do it today. Absolutely. I refuse to accept the premise that the United States can not meet its ambitions and imperatives. In 2006 we defeated al qaeda in iraq. We did not destroy them and defeat them for al qaeda in iraq or its successor isis right now. Melissa chris, thank you very much. Thank you. Melissa i want to bring in our own panel, charlie gasparino, jack houghs from barrons and jake schaefer. I see youre looking at market. I hate to reduce this to market story because this is insane strategy and i wonder if the market is taking this seriously. The market is saying president obama doesnt have will to do anything about this from military perspective. If you notice oil is down, the price of oil is down. Melissa significantly. Were showing that right now. Look, down, 3 . Market is, whether it is turmoil in the middle east. The market is coming off its lows. And what traders are saying right now, and what investors are saying right now, this president does not have the will to invade. The notion of an invasion or significant military response to this would have an impact both on oil, on oil futures and on the market itself. I want to make one other point let me just, what will that do to the market though. I think the market is wrong here. I think this ramps up, you have two american citizens who are murdered by these people, by these thugs, by these terrorists that are threatening to come over here. If im thinking melissa i would think the market would be in panic. If im, maybe theyre misreading situation. President obama may not have any other response to do something very strategic and very strong militarily now. Melissa dan, what do you think . I think oil is taking a different path because what is happening could cause, continue to cause a Major Economic slowdown and maybe oil demand is going to drop. People will not travel the world right now, is a little scared of whats happening globally, thats true. So that impacts gasoline prices. Interest rates come down. This adds to the cycle actually of war. Is that usually a longterm response . The initial response of the market usually is melissa except for these guys also sell oil. That is one of the things they do is sell oil cheap. The biggest story in oil right now is a massive glut of crude in texas, so much that we cant even transport it to where it needs to go for refining right now. That is holding down price of oil. There is disconnect between these events as horrible as they might be and oil. Melissa when you talk to average people, talking to someone just the other day, who said, im really worried about this because i feel like the president isnt worried at all and i need to worry for him. Why isnt the market is worried because the president is not worried . Unfortunately these are horrible events and something needs to be done. These people are holding territory. Theyre not hiding in a basement. Something can be done and soon. I think average american unfortunately has seen so much of this kind ever thing in recent years theyre able to make disconnect between real economy. The real question is this. Is the market, is the market not taking this serious enough much what traders, investors based on headlines, the initial headline response, it is another beheading, unfortunate as it is, president obama is not going to intrade. I will say if he does and pressure will be on him, this is the second american citizen who was murdered. If he does, if you just looking at this from an economic standpoint, look at markets, look at price of oil, look at those sort of indicators and where they might be going in the next couple weeks. I also want to point out the dollar is getting very strong. The index is rising. The euro is collapsing. The yen is collapsing. All the commodities thats true. Gold is down 20. Crude oil is down 3 because priced in u. S. Dollars. Netnet not really changed that much if you adjust it for the dollar change. Why is the dollar getting stronger . The dollar is getting stronger that is whole different story. Shortage of dollars, debt is defaulting all over the world in u. S. Dollars so there is shortage. Melissa jack, is it chance market is not reacting yet as we see the snowball. Horrible thing to say, when you talk about wall street, people see images, think of chance of u. S. Having broader military engagement. What happens . We send the military in. And it is unfortunate to say that is another new flow of funds to american companies, defense contractors, support companies. It is not necessarily the kind of thing where the market takes a hit on earnings. Tough to frame it in those terms. Market take as hit on terrorism. I covered 9 11. I remember that. Melissa if there is an attack if this escalates, there is a big economic slowdown coming in the sense that people wont travel. They will be nervous. Right. Melissa think about what happened after 9 11. Markets always trade off on threats of terrorism in major way because it adds so much uncertainty to business. Longer term threat to consumer confidence. I agree with you. Pressure is really increasing to have something done. How long can we be forced to sit here and watch these images . People using technology that we created, put videos like this melissa american companies. Using twitter. Using facebook. Your last guest said this is a whole new thing. It is islamic caliphate in a country. He is not really right about that. Afghanistan was an, essentially an islamic caliphate run by al qaeda this is replay of al qaeda. What make this is so troubling for the economy and for markets and for investors is that we never really got rid of al qaeda. We kind of did. But then this other thing is here that we didnt take seriously. Guess what . It poses a threat to the hope land and our economy. My best guest, there is core of militant, committed jihadis, people left out and humiliated under the last government in iraq. I think when the time comes there is military force used against these folks, you will see a lot of people leave what theyre doing, core left of militants to deal with. Melissa all right. Well leave it there just for the moment. We have a lot more coming up on this later on of course. Also, firing up the wage wars. President obama using his Holiday Weekend to beat the minimum wage drum and bright lights, big money. How one city is using classic lights to line its own traffic lights to line its own pocket. A lot more coming up. Dont go anywhere. Musical chairs. Fun, right . Welllllllll, not when your travel rewards card makes it so hard to get a seat using your miles. Thats their game. The flights you want are blacked out. Or they ask for some ridiculous number of miles. Honestly, its time to switch to the venture card from capital one. With venture, use your miles on any airline, any flight, any time. No blackout dates. And with every purchase, youll earn unlimited double miles. From now on, no ones taking your seat away. Whats in your wallet . Create a better website at squarespace. Com start your free trial today. The white house bringing the wage wars to a boil just days before u. S. Fastfood workers will launch their biggest strike yet. President obama calling out congress and wall street in the push for american mum wage increase. There is no denying a simple truth. America, deserves a raise. Folks are doing very well on wall street. Theyre doing very well in the corporate boardrooms. Give america a raise and i think congress will eventually hear. Well break the folks down. We will stay on them. Well keep at it. Melissa here to discuss all that, james shirk of the Heritage Foundation and charlie and james here as well. Why doesnt he also say half a million americans deserved to get fired, because that is what is going to happen. People deserve a raise. What about all the people going to get fired . That is exactly right. He also forgot to mention his administration effectively increased minimum wage by passing obamacare. When you add in all the costs associated with hiring workers now because of obamacare, your minimum cost of hiring a worker is now over 10 an hour. The problem, that money is going to the government. It is not going to the workers. President S Health Care law made it significantly more expensive for employers to create entry level jobs. Melissa jack . You mention ad half million jobs. That comes from cbo estimate. They didnt give you that number melissa zero to million. Zero to a million. Melissa could be as high as million. I said that as well. If the low end of your guess is zero and highend is million, youre saying we have no idea. Melissa no, youre saying definitely people will lose jobs, what youre saying. Im saying why look to a cbo estimate forecast when you can look to 80 years of american history. We had minimum wage in this country since the 1930s. It kept up with inflation for most of american history. We had booming economist. We dont have a booming economy lately. One of the reasons is that the people in low end of the income scale they have had a 30 pay cut with regard to inflation. Theyre customers that cant afford to shop. Melissa real hourly wages forker one in every class, every income group have fallen. I would say this though. If you watch the president , the president seems very detached when unfortunately, when stuff in the middle east goes on. Weve had a tragedy today obviously. We yet to hear from him on this american who was beheaded. Yet he has the fire in his belly when it comes to class war far is so obviously. Intellectual rigorous defense of minimum wage i ever heard. People in boardrooms make a lot of mon. I people on wall street, so people on low end this is president who thrives off the basest political elements of class warfare. It is quite frightening at this point. Five or six years into his administration that this is what weve got. Melissa you bring that up. If you show a tweet, that the white house sent out where he said when rest of the country is working to raise wages but republicans in congress wont, it aint right. It aint right. Melissa it aint right. Actually, it is, you know, i tell you the country, i never thought that america was going to change that dramatically under president obama and it has in so many fundamental ways, including that it is almost, sort of accepted that we should be attacking people for wealth. This is remind me of, this has gone on throughout history at certain points but sort of class warfare element of this really scary. There are better arguments to be made than it aint right. One of them, when walmart and target and mcdonalds dont pay their employees a living wage, those employees go and collect earned income tax credit and collect food stamps. Taxpayers have to so im paying part of walmarts reduce it to numbers but look at rhetoric. Melissa if they get unemployed they get more from the government. If they get fired because the wage has gone up and lay people off, it will be more on payrolls of the government. Minimum wage did very well in america. Melissa growing number of wage theft lawsuits against companies are occurring. This is the other side of the coin. If the wage doesnt go up, workers are banning together and saying, well well sue for it then. In specific cases where theyre saying theyre working overtime and theyre not allowed to file for it, that is where were seeing this. Whether it is Truck Drivers or it is folks at mcdonalds, theyre being forced, not being paid. They will sue and get it one way or another. There is Broad Spectrum here. Manysome of these people, many have legitimate gripe. Some are swinging for the fences with lawsuits like this so we have to be careful and differentiate. Melissa james what do you think. I think wage theft lawsuits are part of organizing strategy by Service Employees international. Certainly employers paid wages they agreed to. 99. 9 of the employers do. What unions are trying to do is wage theft lawsuits threat of liability. Large Companies Like mcdonalds, we wont have a secret ballot election for our workers. Make the lawsuit go away who are they closest to . The president of the United States. I will say this, the scary part is the cultural part to me. We have gone, i grew up working class, sometimes poor. I, i wanted to be become richer. Were coming to the point where we vilify peoples success. That is what this is all part of. It is really, a scary, scary trend and it starts at top unfortunately. Melissa well leave it there. Thanks to all of you. They may be savages but isis is frightening social media savvy. How the sites we use every day are fueling this terrorist group. Data recording his throat. 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Around 1 30 the stock was at 92. 75, getting close to 93 and dropped below to 90 bucks. All this on a concern about potential security breach, data breach, personal information, credit cards and the like. Home depot acknowledges there is some unusual activity that they are investigating. Theyre working with authorities to look into this and will notify customers as soon as they confirm, if in fact this is the case. Meantime the stock dropped dramatically, down 2 1 2 . Shaving off 14 dow points. Story is ongoing. It is off the lows of the day and the low was 89. 85. Melissa nicole, thanks so much. The world is in shock on reports of another u. S. Reporter that may have been beheaded by isis. Peter barnes in washington with the story. What do we know right now . Melissa, the administration is unable to confirm the authenticity of that internet video that purports to show beheading of u. S. Journalist Steven Sotloff by isis. State Department Spokesperson jen psaki was asked bit within the last few minutes. Weve seen reports after video that purports to the being murder of u. S. Citizen Steven Sotloff by isil. The Intelligence Community will work as quickly as possible to determine authenticity. If the video is genuine, were sickened brutal act taking live of another american citizen. Our hearts go out to the sotloff family and we will provide more information as it becomes available. And melissa, want to let you know, catherine herridge, the intelligence correspondent for fox news, now says, tells us, she has actually seen the video at, that purports to show this and, it is believed to be, sotloff, kneeling in an orange jumpsuit with an executioner in black and it does show this man being behead. Melissa . Melissa wow, peter barnes, thanks so much. We have the former chief of the bin laden issue station. He joins me now on the phone for more. What is your initial reaction, michael . I dont think this is surprising, maam. I think, you know, there is, opinion is strong in this city in washington that theyre doing this because were bombing them. I think the reality is theyre doing this because theyre trying to lure us back on the ground in afghanistan. The first beheading got it started. Certainly this one will push that impetus along. There is nothing more important to them than to have us intervene military been the on the ground. It raises money for them and recruitments. Theyre very sure given our track record we wont s