Thursday, July 2, 2009

Wide Awake

Sensational interview with Paul Samuelson, a legend in Macroeconomics. One of the best interviews I've read this year. My favorite quote:

"By the way, I don't want you to think that I think that everything for the next 15 years will be cozy. I think it's almost inevitable that, with a billion people in China wide awake for the first time, and a billion people in India, there's going to be some kind of a terrible run against the dollar. And I doubt it can stay orderly, because all of our own hedge funds will be right in the vanguard of the operation. And it will be hard to imagine that that wouldn't create different kind of meltdown."