and de tocqueville goes even further. he says newspapers not only guard freedom but they maintain civilization. even the press doesn't speak so highly of itself. newspapers bring together local communities to help rule themselves politically. this simply cannot happen without newspapers, de tocqueville says. so as we already know, very much is at stake in having a good press. the press as it was understood by the founders is motivated to act, attacking false scientific knowledge, falls a little dogma -- false political dogma, and uncovering corruption for the sake of preserving republican government. this is good. but just like the press should compel government to be responsible, so too did some laws compel the press to be responsible itself. so that's the good. here's the bad. neither franklin nor de tocqueville were naive about the possible bad effect of the press and, in fact, predicted many of them. as de tocqueville says, he loves the freedom of the press, encoding, out of consideration for the evils it prevents, mu

is gina de tocqueville. my 1st boss was a sawing machine. where i come from women are almost by this ocean for. something as simple as learning how to write them by psychos isn't. since i was a little girl i want to have a bicycle off my home but it took me years to the bible. finally the game bob invention by me on bicycles and returns because sewing machine sewing i suppose was more appropriate for those than writing about it as now i want to meet those woman back home who are balanced by their duties and social goals and inform them of old dead basics like. my name is the amount of the homes and i work at the them. after the fall of the berlin wall no from or not to w. . d. to know that 77 percent last week are younger than 60 odd. that's me and me and you. get to know what time of voices i was part of the 77 percent to talk about the issues come up. from politics to flash so calls the boom boom town this is where they are. welcome to the 77 percent. this weekend g.w. . played . the bass player. this is p.w. news. coming to you live from

joining us nancy tangler chief invest strategist and john with de tocqueville asset management.elcome to both of. you thanks for having us. >> ladies first. nancy what e you doing inhe environment? you have a prettyu structured formula h ae for some time now about how you buy stocks? >> well, every market opportunity in our view -- i mean every market decline is a opportunity. jp morgan came out with a study sa over the lastve 20 years stocks return% if you miss the ten best days youarnedhree% a year. we look for high quality in times like these and he been buying cyclical stocks,l agreeig with me santi's report. and some consumer stocks and health care. >> john, you also like it when the market goes wn, right? >>yeah, it's kin of like going into a car dealership, you don't wa to markup the price of the car. you want to buy on sale. sen theck market sells off that gives you opportunity to buy high quality companies at a discounted company. u remember the bowl is buy low and sell high. inhis environment what we like is given the low yies in the dividendncome plays, where theer co

alexis de tocqueville when he wrote "democracy in america" back in, i think it was the 1830s, that was a major thing he saw. he looked around and if his experience in france and europe and what have you, he never saw anything like it. he saw the deep state the, basically, of all these different governments that people relied upon the king and upon the government to be able to provide resources and services. he looked at america, it was people helping people, and they did such a better job than bureaucrats can because they know exactly what the situation is on a one-on-one basis. >> host: example number two, the wealth of the washington area. >> guest: boy, you know, when you take a look at the bloated salaries in the bureaucracy, it's a sweetheart deal between the insurance they have, between the incomes, a couple hundred thousand dollars a year that they're getting that the average person doesn't get. one of the things that breaks my heart as a business owner is i take a look and i see people wanting to get into business, and, you know, the business is the engine of innovation. the in

martin: the classical writers on democracy, hamilton and madison, alexis de tocqueville, one of his classic works was "la democracie en amerique," and john stuart mill, a political philosopher, they were all clear that when a community is divided between a majority and minority, and those who made up those groups were not likely to change, certainly not in the short to medium-term, that was not true democracy. now, clearly minority rule is not democracy, and indeed i quoted, from hamilton, the dangers of both majority rule and minority rule. but i think that coming to ireland, i do think that over the last century and a bit, there has been both in independent ireland and in northern ireland, you know, a too easy equation of majoritarianism with democracy. in other words, you know, the unionist community being a national minority, but concentrated in certain parts of the island, they simply have to fall into line. that would be still, i mean, the attitude of some people, especially associated with republican dissidents. the majority of people i think have moved on from that. on the other han