Will terror attacks on US soil impact US economy?

Fed chief: Terror attacks could have significant economic effect

DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.

New Worries About Terrorists Targeting Soft Targets After California Shooting Rampage

Suzy Welch: Well, from this one event there's probably no fall out accept in the immediate region where people may go out and shop less this holiday season and have less festivities. That's only human after a terrible tragedy like this. If homeland attacks continue to happen like this, the impact could be massive. Less retail shopping and eating out and cruises. That kind of consume ere r purchases is 70 percent of the economy. The only economic upside of the increased attacks on this one, and I say this with a heavy heart is the creation of a new growth and security and protection. Those are two that you would not see grow.

John Layfield: Look at Egypt and it's known for terror events and it rebounded almost completely until the plane was knock out of the sky. You're going to see Egypt going down 15 percent. You're seeing it in the direction and areas that it's happened, but you see a very quick rebound. Unless you continual attacks. It's like the dc sniper. It's shut down and because of the continuing terror. The events are becoming common because we don't see it in all of the major Areas. I don't think that it's an impact on the economy unless you see something significant happening.

Gary B. Smith: I think what happens and they made great points is that over time you start to get used to them. Israel had in the last ten years had 300 separate terrorists' attacks with nearly 300 people killed. Yet over that time period they're GDP has doubled. So we look at a country like that and compare it to ours. Look, are we going get 300 attacks in three years? I hope not. Unless it's regular, that might start to hamper us. Other than that, I think that we can recover.

Jonas Max Ferris: The behavioral impact is minor. I think that you can make a case and not travel into Europe with the problems ongoing in Paris. People aren't not going move around America or go to New York and travel because of it. However, the spending is forever. That does not weigh when people forget ant it. Look at the homeland security budget. We're a few more attacks away and then you mentioned Israel, and they spend a high percentage on security. This attack happened in a broke city and who is pay for this and the federal government was almost broke a few years ago. If we keep on spending one or two billion dollars a year to stop the handful of attacks, that cost analysis.

Sascha Burns: There's a big difference in this happen again if it continues. I think that the idea is only because of the terrorism and would cause a different affect and we have shootings every day of the year. We lose 80 people a day to shooting. Whether or not it's terrorists or domestic terrorists, it does not change people's patterns. We have new town and parents still send their kids to school.

House Set to Vote on Bill to Tighten Rules on Visa-Free Travel to U.S.

Gary B. Smith: Brenda it's like putting your finger in the Hoover Dam if it's leaking. Yeah, it's going to have an impact but minimal if that. The visa we let in 21 million people a year when 38 countries, and there safe countries. Remember there was in the first world trade center bombing that person came in with a fake British passport, so people and terrorists come in and we're doing people from Syria and Iraq and Iran. That's a start. We kind of talk about Israel and the first time and we need to get with the program. Their agents if you will are army trained intelligence people with expertise and detection. We try to keep on fixing it with the administration fixes. That's dumb. We need to have very sharp and people when they come into our country and stop them there. I think that's the best way. We just can't plug up the whole with red tape.

Jonas Max Ferris: There are hundreds of thousands of super wealthy Europeans that come in all of the time and you're going to make them go through the long processes and get the visa's when they're 99.99 Percent are never going to be involved in terrorism. I think it's the wrong thing. Track it here and have a better screen system. Don't just have the waivers. These are great things for the economy.

John Layfield: He came through on a visa program and was the master mind of 11. We have had two wars and $2 trillion of spending. Think what could happen. It's about prevention. It's been eradicated and this is the way that we have to stop the terror. We have to start working with the 38 countries that are in this waiver program, and we have to be able to have the data sharing. Not just measures when they come into the country. We have to have good data sharing in the countries. We all have to work together to stop the extremism like in World War II. Even with Russia we have to do that again. We need to stop what is going on inside of these countries. You come and get a fake passport and then you can travel in any of these countries. That's a loophole that has to be fixed.

Sascha Burns: Everyone's point is right there. Absolutely it could be very harmful to the economy and tourism. Talk about 21 million visitors. We want to keep the bad guys out. We're the United States of America. We can handle people coming to our country. There's a little bit of keep calm and carry on. Go on and about our lives. Go shopping and spend your money. We can not just sort of indulge in it. There has to be a common ground.

Suzy Welch: The male shooter was an American shooter. We can talk about tightening visas and we should be important with them, but the bigger issue and heightened issue is surveillance. Let's put the best people looking on and there's an economic impact. We need to take it. We have to have our eyes on the people that might be American citizens become radicalized. I think that this is going to divide the GOP in the election. Some think that we should have surveillance on everybody. Others think they should not get near everyone.

Climate Change vs. Terrorism

John Layfield: No, this is a stupid comparison. We have had a lot of people that have been hurt and killed by terrorism recently, and we're talking about comparing that to climate change. This kills the environmental message because of the way that they present it. It's not an either or. We have to deal with the terrorism and what we're putting into the area, and that's what the green agenda is trying to get forward, and they're doing it in the wrong way.

Jonas Max Ferris: Well, you don't have to spend money in theory. You can get rid of the income taxes and just have carbon taxes and that's revenue neutral. Maybe there's only a chance of coming to tuition. The cost of that is so much worse with famine and hurricanes that just switching the tax base around and it was never going to happen, is less costly than you have to spend money, and cannot fix that with the revenue tax system.

Gary B. Smith: Absolutely not. First of all the 99.5 percent of scientists thing has been fact checked multiple times. That's wrong. Second of all in the last 17 years there's zero global warming. You spend one and a half trillion dollars and people going around with the cups on the hand and it's horrible. Say that all of the money was well spent. Every country agree today the carbon admissions restrictions. Do you know what the change would be by the end of the century? 0.17 degrees Celsius. This is all a big bunch of BS. We should be focused on terrorism and not this unending trillion dollar project.

Sascha Burns: I am just flabbergasted Gary B. Why do people have a problem that climate change is a huge issue. It's like comparing cancer and a heart tack. Terrorism right now and global warming and the problems from it are in the future. If you're worried about Syrian refugees, the Middle East will be too hot to live.

Suzy Welch: People are saying it's about politics, but this is the essence of leadership. You have to eat while you dream. You have to deal with the problems like terrorism while you think about how to solve a global warming and how big or how bad global warming could be. This is the essence of leadership. That's what the debate should be about.

Stock Picks

Gary B. Smith: Apple (AAPL) up 10 percent by December 31

John Layfield: T Mobile (TMUS) up 20 percent in a year

Jonas Max Ferris: (EDV) 15 percent gain in 6 months