"There is a significant difference between today and 1929. There are some who claim that we are headed towards a major depression. I do not believe a major depression is possible."
"The main reason is that the depression of the 1930s was caused by defaults of governments around the world"
"Today we only need to pay currency. Governments need only print more money. It would take a conscious effort on the part of world governments today to create a major global default. Politicians would have to say that they would no longer be paying social security and that they are going to default on all their obligations and I do not see this as possible."
"The system is automatically set to inflate out and the politicians will merely change the indices to disguise what they have done."
