situation. it s government trained to run something. capitalism needs a recession every once in a while to separate the weak from the chaffed. economy slows down, the bad business goes out of business, good business stay in business. everything is more efficient that way. mark: sounds cruel. when you have a politician speaking, we don t want a recession so people might lose a job and i ll lose office. it s not a perfect world and these things have to happen to have a stable economy. you perpetually prop up the more you prop up an economy, the harder it s going to fall. like adam schmidt in the wealth of nations, the unseen hand will of the economy will balance itself out, but when you start getting the government in there pushing up something really high eventually it s not going to
and it s an impossible situation. it s government trained to run something. capitalism needs a recession every once in a while to separate the weak from the chaffed. economy slows down, the bad business goes out of business, good business stay in business. everything is more efficient that way. mark: sounds cruel. when you have a politician speaking, we don t want a recession so people might lose a job and i ll lose office. it s not a perfect world and these things have to happen to have a stable economy. you perpetually prop up the more you prop up an economy, the harder it s going to fall. like adam schmidt in the wealth of nations, the unseen hand will of the economy will balance itself out, but when you start getting the government in there pushing up something really high
and it s an impossible situation. it s government trained to run something. capitalism needs a recession every once in a while to separate the weak from the chaffed. economy slows down, the bad business goes out of business, good business stay in business. everything is more efficient that way. mark: sounds cruel. when you have a politician speaking, we don t want a recession so people might lose a job and i ll lose office. it s not a perfect world and these things have to happen to have a stable economy. you perpetually prop up the more you prop up an economy, the harder it s going to fall. like adam schmidt in the wealth of nations, the unseen hand will of the economy will balance itself out, but when you start getting the government in there pushing up something really high
$12 billion of soybeans they buy from us because they are wealthier. this is stuff they couldn t afford. i think we need to think more broader about the global trading system that it s benefiting the u.s., it s benefiting them. the whole openness benefits all people. all i m asking is we do the math right and say the right numbers and we understand there may be really good reasons that we want to take china on about certain things he does, but maybe the trade deficit isn t the only number. we all made a deal 40 years ago plus that may not have turned out to be all that good, steve. we decided we wanted cheaper goods and cheaper goods are made elsewhere. as a result we ve had very little inflation because you can buy things for as little money as you could 20 or 30 years ago. some of that means we ve lost some jobs in the process. it s worth going back 300 years. i know we don t have the time to do that in detail, ali, but adam smith, when he wrote the wealth of nations, said that t
capitalism, we re a capitalist system. free market can do good things. adam smith, wealth of nations the invisible hand was more compassionate. he wrote two book. other about our responsibility to one another. i wish incorporated all of them together. i hear what you re saying about young people. head up future forum with young members in the congress go around the country and listen to young people. perhaps can visit you at school as well. thank you for sharing. thank minority leader nancy pelosi and all the questioners and everybody. especial thanks to audience sharing personal stories. don lemon picks it up now.