got it wrong because karl marx had it with the industrial proletariat that would be the bearers of revolution and it turned out workers were doing pretty well in europe. they were getting richer and becoming middle class, which is why there is never a communist revolution in germany or france or britain. in russia and vietnam and china, you did have equal societies that form the backbone of communist movements. >> so other steps that need to be followed in order to a private democracy? can you put the cart before the horse? >> well, i guess it depends on who that who is because there's nobody left this power to say, for example, in east asia, in korea and taiwan, you had a lot of economic growth under an hour terry machine. in the 1980s, both of these countries democratize and many people say this is the best way to do it. this is what the europeans did in the 19th century. your economic growth on the democracy later. the fact is if you look around the world, most recently in hong kong and brazil and turkey in the air of spring in many other countries, people are going to way. t

the godfather of leftism, bob, is not karl marx but p.t. barnum. just lie and get it through and that's what happened. the -- you know what? not the republicans or anybody or any conservative or libertarian. they didn't vote for this crap. barnum made a mint off of side shows and bearded ladies and two-headed goats but this is a three-headed make. pelosi, gruber and obama. >> according to the american insurance institute 10 million new people insured. >> i wish i could give you the amount of e-mails that i get from people who have lost their health care. >> right. >> who have seen their rates skyrocket. they write constantly. you ignore that. >> well, no. i don't ignore it. i came in here today with -- >> in a second. the segment about the media treating this. >> why -- >> dana, how long before abc, nbc and cbs decide this is a story? >> i don't think that they probably will or if they do it's just dismissed and derisive and you'll have to watch fox to find out where it goes. he'll have his tenured position at mit but i do think that the weight of

liz: didn't karl marx say that? >> i'm looking for groucho marx. other thing oil prices would temporarily fall. that's about it. the other point to jeremy's comment. you look at somebody 65 retiring today in the united states, their future expected life expectancy, for an 18 year time horizon, don't put your money in stocks. that is not the right answer. liz: last word to professor. i'm interested as you called out 20,000. what's the black swan that could derail it? >> oh, wow. you saw what happened to ebola. another pandemic. a terrorist strike could happen. all those threats are still there. we could have russia getting more aggressive, looking at the other baltic states. who knows about china. already upset about japan. wow, i can point out those risks out there. there's always going to be those risks out there. i think that's one reason why stocks in the long run have given good returns because we've gotten through all those hardships. liz: we absolutely have. amen. i want to leave it at that. we want to thank david blitzer. chairmen of the com

progressives by storm, like a moderate day booster shot as the author was called the second coming of karl marxd up on the notion of par moneyial capitalism. is the dominance from income from capital over wages or dominance of wealth over work. in other words, the rich keep getting richer. the solution is a giant wealth tax that presupposes that each generation starts at go. but let's talk about this for a moment. what is capital? there's three types of capital. there's social capital. we actually talked about this. tamara alluded to it. the networks of people that we surround ourselves with include our family, friends, community. it can either enhance or detract our ability to take advantage of opportunities. there's human capital. our natural abilities and skills. then layer that on with education and things acquired through life. some people call all these traits put together character. then finally, financial. gather through savings and through borrowing. right. it's a form of capital that one progressive, well, progressives i think really are railing against. it really can be gathered thro

karl marx was able to for c 50 years in advance -- to foresee 50 years in advance because it was so constructed. conservatism is a series of principles that people can interpret differently. "t" word,hate to use the tolerance, but we do need that in the movement if -- we'rei think in 2016, if going to elect a conservative president, we are going to probably need in the neighborhood of 70 million votes. the greatest concentration of conservatives in america may be the people that watch "the factor," which is the biggest show on television. he has 3 million. now, that is a lot to do not get me wrong, but my point is if you add that up with all the conservative talk show hosts and all the conservative publications, you still do not come near 70 million. you need coalitions. we need to attract people that, aboutid says, don't think politics 24 hours a day or who are much more interested in their family. more in that cause or that. politics is more than just yelling louder than the other guy. there are people that think that. louder,d just yelled spent more money on television. that normally is not