20 minutes in, carl smith has the dog on the roof. this is going to move no one i know who is not a complete geek. but they put a dog on top of the car. that s going to move people. how could you do that? the deep philosophical, ideological and political point here is not only the sense he doesn t have empathy. it s the fact that empathy would have been an impediment to him doing his job at bain capital, right? the point is to be ruthless, to be an amoral robot and pursue profits. it s just too hard. then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor s or master s degree for tomorrow s careers. this is your moment. let nothing stand in your way. devry university, proud to support the education of our u.s. olympic team.
mitt romney gave a speech about the debt and deficit. he s unveiled a debt clock, like the one midtown a few blocks from here. which is essentially meaningless, it gives a nominal value of the debt, not in relationship to gdp. john boehner also at the fiscal summit threatened another debt ceiling showndown. on the romney point, one of the things we re discussing, we re trying to understand whether republicans are making these debt and deficit arguments in good faith. and the reason there s reason to doubt they will, because in the past they have expanded deficit and debts, and in fact the romney plan calls for in some ways even though it doesn t call for expanded deficits and debts, it s unclear where the spending cuts come from. as evidence of the idea that they re being disingenuous, here s mitt romney also speaking on morning joe on january 16th, 2009, talking about the proposed recovery act stimulus from the president. the president s plan for economic recovery including a
somewhere else 679 as long as they re trapped in that company, as long as you have bad corporate oversite and bad corporate governance, you ll have these resources that are inefficiently trapped. and someone can come in and solve that problem and free them up and that allows the entire economy to grow. that has nothing to do with private equity. but why why not? i mean you re complaining that these shut-down factories and fired people. but shutting down factories and firing people is how you free resources. why don t they just take dynamite, then? well, you can sell these assets, right? that s explain this point. because i think this is the key point. the argument you re making in the broad sense and it s actually a hard argument i think for mitt romney to make, it s an argument about creative destruction. we went into companies that a lot of times were in bad shape because they were being squeezed by international competition, poor business practices,
into the next japan. explain what that means. so we are nothing like greece. greece doesn t have a sovereign currency, we do. but we re acting as if you know, hyperinflation or something that s just around the corner. therefore we have to have austerity ourselves, that puts us into a long-term muddling along, weak recovery/recession bounce in bounce out. famously, many years of zero growth. you don t think that s true? no. japan is a monetary failure. go i want to emphasize. we all just talked about how we were making it worse than japan. about to shoot ourselves in the head. this point about using wait that greece gets invoked. it s become rhetorical to say we re headed in the direction of greece. here s mitt romney making that point on friday. we have behind us a greek
karl you re making a point about you re like i don t know if i want to say it on tv. that you know, this is not genuinely democratic. that this, i said it s not an empire. so it s as practically speaking it s a german empire. germany is the largest economy, they re driving the eurozone. and right now it s falling apart because they re not acting like the hegemond of europe. acting like this is our responsibility. we have to take care of our project. we have to pay what s necessary to keep our empire together. they have a wayward province, greece is doing bad things, they re acting like we re all partners, we have to follow the rules. when you re the boss, that s not what you do, you do whatever is necessary to hold the empire together. we have this vision for what europe wants to be and it costs money. it costs money to buy that vision, so you pay.