Fareed Zakaria GPS – CNN 10-26-14

Salient to Investors:

Fareed Zakaria said:

  • Canada has more immigrants, more foreign-born citizens than the US.
  • Since 1990, mortality rates of children under five have been cut in half.
  • Most books on entrepreneurship are useless.
  • The top 5 countries that account for half of the under-5 deaths are India, Nigeria, Pakistan, the Democratic Republic of Congo and China.
  • Edward Snowden did the US a service but needs to return for trial to transform his acts of theft into civil disobedience.

Sean Wilentz at Princeton said:

  • Obama has done a good job.
  • The mid-term election is being fought in the Border States and the Deep South, so the Republicans will win the Senate.

 

Gloria Borger at CNN said Obama has not communicated well, and less than 50% of Americans believes he is a strong leader.

Walter Isaacson at the Aspen Institute  said:

  • Obama’s stewardship of the economy has been very good.
  • The US has recovered far better than any other part of the world.
  • Obamacare makes for a much better economy because you have much more fluidity in the work force.
  • Usually when the economy is getting better, and most importantly, when gasoline prices are falling, that is usually the best indicator of who is going to vote for the incumbent party.

Amity Shlaes said Obama said:

  • Obama is like Woodrow Wilson and Coolidge in that he retreats into himself when the world does not go the way he thought it would.
  • The US economic recovery is poor relative to past recoveries because of the regulatory state now established. For example, Dodd-Frank institutionalized too big to fail in a creepy way – you fall into the rescue class or you don’t.
  • Banks are supposed to lend, but do not always with a nominal interest rate.
  • Smaller businesses are especially hit by complying with new regulation.
  • The bill for healthcare is yet to come, which will be nominally free, but unavailable.
  • Regulation is putting pressure on the median wage, and people are well aware that if interest rates rise, the picture will become deeply difficult and chaotic.

Bernard Kouchner said every country listens to every other country but does not have the same means as the US , which makes them jealous.

Walter Mischel said:

  • Self-control is a predictor of success in life and a fundamental key skill that enables self-control is being able to keep a delayed goal in mind.
  • Delayed gratification ability can be taught and enhanced and is not genetic.
  • Identification of one’s vulnerabilities is hugely important.

Watch the video at http://globalpublicsquare.blogs.cnn.com/category/gps-episodes/ or read the full transcript at http://transcripts.cnn.com/TRANSCRIPTS/1410/26/fzgps.01.html