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In and say we are are going to change the rules of this deal? >> listen, cheerly individual responsibility is an important value here in kids and you will notice i'm not coming out to forgive every single nickel of student loans. i think we need to take a new look at this thing. >> john: i propose the opposite of that as a new look. how about saying we have been loaning all of these kids money, many shouldn't even be in college because we loaned this money college costs are way up. in fact, we have a graph of that. because of all these government handouts and easy loans, the cost of college ha...

People filling princeton and yale and harvard and middle class kids depending on these loans maybe we will just have v. to say, too bad, college is only for the ric richys? >> john: i don't think that will happen. there are are still plenty of loans out there. if the bank says this is a smart kid and he will have a job and pay this back. the unemployment rate for college grads is 5%. there are many far needier people. how about ugly people and short people. they make less. do we need to forgive their loans, too? >> life is tough all over, no doubt. >> john: and less tough than it used to be. >...

Employees in the political decisions at the agency deciding how best to lead the agency and if you feather the right nest you will do well for yourself after you leave. and this is well known. >> john: meaning you make it tougher some company's competitor to get in the marketplace and then get a job with the big company. >> picking winners and losers is what it is all about. >> john: and the big companies deal better with the fda. >> they have lobbyists. unlike other agencies, the lobbyists have an open door at the fda. >> john: and what are we losing? >> by the regulations? >> john: yes. >> t...

John by dry. he says we should be glad china is doing well. what is the threat? >> the threat is the fact that resources are not infinitely abundant. resources are basically scarce and we live in a world in which all resources are dependent. all you need is one scarce resource and everything else becomes scarce. we focus on oil and it is backing scarce. copper is becoming scarce. goldman, sachs the other day. >> john: the new york times said in 1973 experts say the world will have virtually run out of oil by the world 2000. people are always saying things are scarce and with human in genuity w...

You have a nice tenured job. >> we are in the biggest recession since the great depression. the downtown in the economy has nothing to do with resource scarcity. >> of course, it has everything to do with resource scarcity. you go and spend $150 a week filling up your car. try and put corn and food on your table when you have record prices for corn. >> get rid of the eartha until subsidies. >> i'm not even talking about ethanol. >> i am. >> talking about food in general. nearly all-time highs. >> i will make you a bet you can pick five commodities and i inflation adjusted price of the market b...