Liberty Media chairman John Malone has a lively interview with the Wall Street Journal:
WSJ: What are you doing to protect against the weak American economy?
Mr. Malone: Well, my wife, who is very concerned about these things, moved all her personal cash to Australia and Canada. She wants to have a place to go if things blow up here.
Canada has a lot more fiscal and bank responsibility than most places in the world and lots of natural resources.
We have a retreat that's right on the Quebec border. We own 18 miles on the border, so we can cross. Anytime we want to we can get away.
It would probably be illegal but we could go. ...
WSJ: Do you have faith in the dollar?
Mr. Malone: None. ..
WSJ: Do you think President Obama should be re-elected?
Mr. Malone: I don't think he should have been elected in the first place. I think he's incompetent. But now, I've thought that of the last couple presidents. [Obama's administration] is all academics and lawyers. I'm afraid that our real problems are systemic and long‑term. And lawyers are primarily trained in fighting over the pie, not making the pie bigger. And this country definitely needs to think about making the pie bigger.
He seems to be forgetting that Obama economic aide Lawrence Summers isn't merely an "academic" but was also making $5.2 million a year for his one-day-a-week job at the D.E. Shaw hedge fund, and that White House chief of staff Rahm Emanuel is neither a lawyer nor an academic but a veteran of a two-and-a-half year, $16.2 million stint as managing director in the Chicago office of Wasserstein, Perella.
Thanks to FutureOfCapitalism reader-participant-watchdog-community member-content co-creator B. for sending the link.
