global economic trends Quotes

Australians have defied global economic gravity.

Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.

There is either a crisis or a return to the norm of stagnation. One view is the norm is stagnation and occasionally you get out of it. The other is that the norm is growth and occasionally you can get into stagnation. You can debate that but it's a period of close to global stagnation.

I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated.

Instead of having a set of policies that are equipping people for the globalization of the economy, we have policies that are accelerating the most destructive trends of the global economy.

If trading is like chess, then macro is like three-dimensional chess.

I'm concerned with the world economy, I'm a specialist in forecasting in that area, and I have a lot of influence in that area, naturally. How big it is, or how big it is personally, is not relevant. The fact is, I'm on the case, where other people are not, and more and more people realize, again and again, that I'm on the case!

That's where the economy is going. It went somewhere. Just not to America. And the money made? That went to the Cayman Islands and Switzerland. Not back here. Never to be taxed.

It's a mistake to think things are as bad everywhere, because in Japan and China there is more cash than in the States. They are full of liquid assets. The big problem is that all the world wants to copy the American system.