Comments
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TKGreat interview, covered a whole range of issues and not just markets. Especially liked the bits about education
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WMThe secret to free education is to ensure Universities don't become profit making entities & education isn't dumbed down & degrees are actually impractical, just to get people through the machine.
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WMLike Bob and Raoul the government gave me a grant to go to University. That gave me the life I have today. The business of education loans is impoverishing a whole generation paying off debts.
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H"Absolutely brilliant discussion. It will keep me thinking for days.
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gmThis was great. More please!!!
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IFI don't know who the hell is being interviewed, but this is the best I've seen Raoul in quite some time.
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PJTerrific interview, have agreed with Bob more than anyone else so far!!
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SFBOB THE BEAR! love it - actually find him super compelling live, Bob you should start doing videos man!
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Fmade a lot of sense right up to the point where he advocated for tuition free college educations...would just create more inefficiency in education and worthless degrees.
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AEAbuse free education? Sounds good to me. My dad grew up in Soviet Russia on free ed & healthcare, did 2 PHDs in mathematical simulation & science & loved it. I cant afford to do a masters. Great Int.
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AEExcellent interview, but disagree on more (higher) corp taxes and free Ed. Higher taxes drove the Corps overseas and folk do not value free ed. like buying a car 4 your son...he'll just abuse it...
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GKWow, he needs to get out of his Ivory Tower once in a while. Just as painful to listen to as Paul Krugmen. His concept of redistribution via Fed is unrealistic, people can say no via physical means
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LTWhat are the unintended consequences of fiscul stimulus? More taxes, more capital controls, more monetary debasement?
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GRWestern ecnmies driving off-shoring and killing Bsness Dynmsm. This process can only be rversd by rolling back fisclity AND legislation in turn this means smaller government so likely a non starter...
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GRRaoul... it seems to me that infrastructure spending without legislative and fiscal reform, could not save the US or EU economies... Years of aberrant legislation and fiscality have monopolized
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SRBrilliant! Agree with comment re social media - its been the biggest distruction of productivity ever! A whole generation addicted to stupid FaceBook, Twitter and mobile phones - its just insane!
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GJWithout doubt, the smartest guy I've ever seen in a Fred Perry shirt.
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JPEasy access to student loans has resulted in a compounded increase of 9% per year in the price of university education over 40+ years.. Only professors and administrations have been the beneficiary
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JPI losr a lot of respect for Bob saying school should be free. That totally misses how really cheap money deranges an economy with malinvestment. Free costs more than sny one can imagine
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ASGood overall inights and great to see Bob recognise that education is an investment not an expense
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mjexcellent insights
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TJFascinating economic insights and some excellent food for thought. Sadly Bob seems naiive when it comes to the political picture, and how the elite banks etc. control Congress regardless of who wins.
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JDBrilliant Indeed... Great Conversation...
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SDExcellent analysis of why things are so challenging from two extremely bright men. But what are we custodians of wealth to do? Yes, hold some gold, fine. Anything esle?
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TSLet's hope for infrastructure fiscal stimulus, but I think military fiscal stimulus may be more likely
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wwBUT- infrastructure paid w/ $$ we don't have solves NOTHING - it's STEALING from some poor saps (those who lack the clout to defend their (generally more meager) wealth)!
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wwBrilliant, insightful, thought-provoking -Yes, absolutely! &, what to do w/ 'excess' Human Capital a big problem -not solvable by redistribution (of assets OR liabilities!) But --
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BRI agree with everything that was discussed. The one area I don't agree with is infrastructure spending as the savior. Like everything else today this will not create as many jobs as one would hope.
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KGLove this, but US infrastructure stimulus is no cure. Monetary authorities caught in their own trap. If China didn't pull the world out with its geometric debt growth and stimulus, well... good luck!
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DLThought-provoking and depressing. Problem is I cant disagree with much of it. If the U.S. is the last hope of the world we had better start electing different leaders.
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dbInteresting high minded ideas, but the real reason people are pissed is the lying & cheating by the people who were hired to protect us. It's called "Deep Capture" of fairness by the crony capitalist.
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HBBrilliant indeed. Also watched Charlie Rose November 15 1994 with Sir James Goldsmith on youtube. Fascinating stuff Thanks RV, you never disappoint.
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JMWorked for Bob at HVB and with him at Nomura and always enjoyed client visits with him. Great point on current political leadership not strong enough to implement much needed policies.
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CUClear, concise, and as Raoul concluded, brilliant. Couldn't agree more with Bob's thesis and his expectations for the near future. Thanks RV!