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Trumans was politically weakened. >> paul: everybody was saying only a month ago or two months ago that bernanke and the fed saved the world from great depression, that they'd intervened when they had to. they had to ease money, that was the complaint and that was some of the senators made that argument. >> first of all, everybody wasn't saying that. >> paul: not mary, that's true, that's true, not us, but the popular view. >> i think one thing that concerns some senators is the fact that ben bernanke had never acknowledged the fed's role in 2003 and 2004 in creating the asset bubble. he has n...

Where the disconnect is. why not the compulsion to vef the money? >> it's there. folks want to go and take that money and expand their businesses and hire more people. i've seen it. it's going to happen. >> but you're saying they should be compelled to? >> can we go back? >> the fact we're lowering the tax rate -- >> that's not true. >> i got to tell you, if you go back, there's no evidence that tax cuts actually create growth. that's a bipartisan thing. post-financial crisis under obama, you didn't get growth from tax cuts. you have an asset bubble because wealthy companies have tons of money...

Obama, you didn't get growth from tax cuts. you have an asset bubble because wealthy companies have tons of money, buying back their own stock, artificially inflating the market, that's increased the wealth gab, and that's what's going to happen if we give money that have money on the balance sheet already. >> there is something to say about -- >> if you go back to reagan, the last time we had fundamental tax reform, not just tweaking of the rates, and doing nothing on the corporate side, 15 million jobs were created, and per capita income went up 20% in the following year. >> my only question...

Of oil like frying oil. that's an insane that's like tripled in price. so that's been crazy. the highest inflation in 40 years i, highest inflation in 4a years. so the official numbers which of course bearum no resemblance to the day to day reality, everything is mucher more expensive. and that's especially true of the big things. the big things are o the most expensive of all the why is that simple? the declining power of us currency has created an unprecedented asset bubble . that means investors around the world are rushing to convert increasingly worthless u.s. dollars into objects that mi...

You have corporate profits an all time high. so i think it was an indication by bernanke that we are seeing these indicators and these good forecasts and that please look at this because we may -- if we hit 7% unemployment, we may start ultimate putting on the brakes as it relates to easy money, if you will. >> john, is this a bubble about to burst? are we about to see what happens to the housing market? >> no i think what happened is a bubble was starting to form because of the low rates. the market was getting ahead of the real economy which is still a little lackluster in a lot of areas esp...