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>> there has been too much hammering. yes there are a lot of ways this can go wrong. i am reminded that when the berlin wall came down someone i admire margaret thatcher and her counterpart friends were ringing their hands with the spector of german threat in europe and president bush said, look, let's celebrate what the germans have done let's embrace unity and then we will have a chance to steer this in the right direction. i wish he kept with that advice when he visited ukraine. he warned them against voting for dependents but they didn't pay much attention to them. when the tied of freedom...

Restrained. >> enthusiasm is in order. there's been too much hand wringing, yes, a lot of ways this thing can go wrong, but i'm reminded when the berlin wall came down, someone i admire, margaret thatcher and her counterpart, francois mitt erin, and president bush said look, let's celebrate what the germans have done and then have a chance to steer this in the right direction and wished he'd followed that advice in the ukraine and unfortunately they didn't pay too much attention to him. when the tide of freedom is sweeping we should love it and when it's headed in the wrong direction then we'l...

>> paul: shouldn't be too restrained. >> enthusiasm is in order. there's been too much hand wringing, yes, a lot of ways this thing can go wrong, but i'm reminded when the berlin wall came down, someone i admire, margaret thatcher and her counterpart, francois mitt erin, and president bush said look, let's celebrate what the germans have done and then have a chance to steer this in the right direction and wished he'd followed that advice in the ukraine and unfortunately they didn't pay too much attention to him. when the tide of freedom is sweeping we should love it and when it's headed in the...

Intellectual property theft, but the question for the u.s. president, what is the greatest point of leverage with china? the answer to that question is very simple. the american marketplace is the market to which china sells its goods. without america, china would not have a trade surplus, it would have a trade deficit. so to the extent to which the american diplomatic corps and the american president are able to utilize the leverage of threatening effectively diminished access to the american market, that is the greatest leverage point that we have to push for fair currency, fair reciprocity,...

In fact, it lowers the cost. you build power plants to recycle the heat the way edison did. when edison built his first generating plant in new york, he took the heat and instead of throwing it away, heated nearby buildings. we protect them from competition. they don't have any reason to become more efficient. and it's destroying the american economy. we are so wasteful. >> specifically, i want to stop you there. i can't think of a more important point than the efficiency point, which brings me to the nagging grandmother. if you were to point towards either the system itself or the government'...