People have put a lot of faith in the government's ability to get growth going in China. People have this, what I think, illusion that there are six people in China who really have their hand on every button. And what we're learning is, it's a very big economy and they're not that good at it.
David WesselIf you don't have a set of principles that you can explain for what you are doing, then how can anybody know what you're going to do next?
David WesselNobody really knows what the market is going to do, but it sure looks like we are going to have a lot more volatility.
David WesselI think oil prices are down for two reasons. One is, there is a lot of supply. There is a lot of supply because the U.S. now produces a lot of oil and there is a lot of supply because the Saudis seem to want to produce a lot of oil, maybe to punish the Iranians and the Russians.
David Wessel