Monday, Jul 06, 2009
Herb Stein... said to me one day, "If your horse dies, I suggest you dismount."
And we're ridin' this horse as though we can keep borrowing and borrowing and borrowing. The Chinese know that. So what are they doing? They're putting tremendous resources in stimulating domestic demand. And that's exactly what they oughtta be doing. They're very, very smart.
A conversation Peter Peterson, Founder of Peter G. Peterson Foundation, The Charlie Rose Show, 15:00, July 2, 2009, http://video.google.com/videoplay?docid=8122224939130262116.