. >> i think it's to the credit of allen greenspan that he recognizes that maybe he was wrong with his free market approach. let it run, baby, let it run. i think that was wrong. china actually is wiser than we are at nipping crazy booms in the bud. >> how so? >> they're willing to step in and intervene. they're willing to take the punch bowl away right in the middle of the party. i like people like that. he's doing knit a crisis. as an antedote to crisis. >> it's like a fellow goes rabbit hunting and thoroughly enjoys himself. and that's what happened in the housing market. >> just about a half hour after we sat down, we -- this is about a half hour before we sat down with him we watched what happened with the jobs report and saw the markets start taking off again. we asked munger what he thought about that. he doesn't seem to pay much attention to those type of markers. those type of things shouldn't sway you. >> we already know that warn buffet and bill gates will be on squawk box live. add up all the zeros in their portfolios and you get a lot. trust me. starts at 6:8:00 a.m. easte

but before we get to that, think about allen greenspan back in the '90s.unny jacket for the traders. i can remember he was the first person to look at the stock market and think it could reach many thousand points higher and the economy could grow much faster. and the reason, the silver bullet. productivity. it was all about productivity! but as we play the sound bite in a second, there is no hiyo silver productive. >> i do think dodd-frank went way too far, it's way too complicated. that's the number of hours it will take to deal with the regulation put forward. and we're not finished yet. >> all right. what was that number again? god i love writing this number. 24,180,856 hours. okay. now you think that's interestinginginginginginging g i i have something more interesting for you. when it comes to patient protection and affordable care act, there is a tracker that the house energy and commerce committee runs. they call it the obama burden tracker. i would like to put something on the screen, please. basically it says the survey shows a total of 190 milli