teachers, pension plans for police and fire. so those pension plans are not going into the hands that dead hands of a monopoly capital. they go into the hands of people s retirement plans. professor stein, on the even though, you know, debt or no debt, isn t it a good thing, overall a good thing when the market is doing well and work well for us? it s a great thing unless it gets so high it crashes but sure. we want people to feel wealthy and spend and to feel optimistic. there s the wealth effect in which some small amount of the markets increase as translate into an increase in consumption and people feel generally happier. i think that s happening. there s a lot of psychological data to be sure, most of it probably made up, that says when the market is up, people spend more money and the whole economy improves. i think that s happening right now. i think people are in a better mood because the market s up. i know i am. so we ll assume that everybody is. i m in a better moo
be interesting to see who they cut and when. are they hypocrites or begin to take a pound of flesh out of people who are really going to scream about it. you said that word hypocrites like you really felt it. rubber meets the road. skin in the game. this is governing. it is time to govern. make the tough decisions. it will be fun. all right. let s get to the interview. senator-elect mike lee of utah is leading the charge on this. called the darling of the tea party, unseated bob bennett in the party s primary. as for health care reform, the senator elect said on fox yesterday, and i quote, i ll fight to bury this thing and i ll dance on its grave. wow. fighting words. he joins us now. welcome to washington, senator-elect lee. thank you for joining us. thank you. it s good to be with you. all right, senator-elect, we quoted you a bit ago saying you ll dance on the grave of the health care but there are real problems with the health care system. i m sure you agree and million
workers, the pension plans for teachers, pension plans for police and fire. so those pension plans are not going into the hands that dead hands of a monopoly capital. they go into the hands of people s retirement plans. professor stein, on the even though, you know, debt or no debt, isn t it a good thing, overall a good thing when the market is doing well and work well for us? it s a great thing unless it gets so high it crashes but sure. we want people to feel wealthy we want them to go out and spend, we want them to feel optimistic. there is a thing called the wealth effect in which a small amount of the markets increase and translate into an increase in consumption and people feel general happier. i think that s happening. there s a lot of psychological data to be sure, most of it probably made up, that says when the market is up, people spend more money and the whole economy improves. i think that s happening right now. i think people are in a better mood because the market
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so those pension plans are not going into the hands that dead hands of a monopoly capital. they go into the hands of people s retirement plans. professor stein, on the even though, you know, debt or no debt, isn t it a good thing, overall a good thing when the market is doing well and work well for us? it s a great thing unless it gets so high it crashes but sure. we want people to feel wealthy and spend and to feel optimistic. there s the wealth effect in which some small amount of the markets increase as translate into an increase in consumption and people feel generally happier. i think that s happening. there s a lot of psychological data to be sure, most of it probably made up, that says when the market is up, people spend more money and the whole economy improves. i think that s happening right now. i think people are in a better mood because the market s up. i know i am. so we ll assume that everybody is. i m in a better mood just talking to you.