Though sometimes i bring up just to annoy people. One element of the it cant happen here that relates to the president. He never specifies what his alternative is. What he implies is what is needed is an oligarchy of good people. Not so different from the new samurai. How these people are selected, but you have to replace democracy with an oligarchy of good people. How this is to be done, not much to say. When you read or listen to people around the obama administration, very similar to their view of the world, very similar to their view of the world with one important difference which i wont go into now. Pickup in question and answers. Let me stop with that. I have gone on too long. What time is it . Of good. I have been around too long. Sorry. [applause] fred siegel has agreed to take your questions. [inaudible conversations] i am always intrigued by the antagonism of intellectuals to capitalism. The persistent threat. I wonder is it because capitalism stands for a source of power th