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Expansion the average gdp growth is around 2.2%. >> right. >> now, you teed it up exactly correctly in my view. this is not some lever that anybody knows how to pull. the combination of labor force growth and productivity growth is what sets the economys speed limit. and there are a bunch of things that go into that including the aging demographics. >> right. >> so the problem is because economists dont really know what makes productivity speed up or slow down, you have what i call the empty hol...

Range next year. thats lower than a lot of other countries, jared. and i dont know how fixable that is. i think wed all like to get to 3% economic growth, but when you see where china is and where india is and places like that, economies that can grow faster than sort of how do you describe america, sort of a middle-aged suddenly overweight man. were not that nimble. >> who are you talking about here? >> me. how do we get there? i dont disagree -- i do disagree with the president who last summer...

People own stock, you have to look at how much stock they own. most people own very little. so 80% of the value of the stock market is held by the richest 10% of families. and 40% of the value of the stock market is held by the top 1%. so when the stock market goes up a lot, the folks who benefit from that wealth effect tend to be among those who are most wealthy. now, heres the thing in where i think the stock markets uptick recently has been most relevant. one of the reasons, i kind of agree w...