That's a card our negotiating partners have which gives them a certain leverage, a certain influence over the U.S..

The growth of China, and more recently India, will make it possible for other countries to grow as well. Latin America, for example, has become a major supplier for China. So China's growth is stimulating growth in Latin America, which is fantastic for them.

Inflation is just not a problem in this economy.

The key thing is that there's a mechanism to spot negative trends and to enable that problem to be brought forward quickly.

We are consuming more than we produce.

We have been talking about globalization for a long time. Actually, the word has been incorrect because only half of the world has been part of the globalization process. But in the last ten years, the other half -- China, India, the countries of the former Soviet block -- has joined the capitalist system. And I like to say globalization is going global.

That's unsustainable. There is an unpleasant adjustment in our future. We will have to adjust our lifestyles to our means. There will be a sharp recession if not a depression.

I think that this is a case where the U.S. leaders involved are calculating the behind-the-scenes discussion, ... Pressure on Turkey is more likely to produce the desired result than a public bashing.

I keep looking for the unemployment numbers to rise, and they don't; they just keep getting lower.