Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.

Because the US has control of the sea. Because the US has built up its wealth. Because the US is the only country in the world really not to have a war fought on its territory since the time of the Civil War ... Therefore we can afford mistakes that would kill other countries. And therefore we can take risks that they can't ... the core answer to why the United States is like this is we didn't fight World War I and World War II and the Cold War here.

While certain coastal cities have become very prosperous, the rest of China has a per capita income of $200 a year. The coast wants to have nothing to do with the interior; it wants to work with Tokyo and New York. This is an old story in China. It is why Mao succeeded in 1927. He wanted [coastal] Shanghai to throw the foreigners out, but Shanghai was doing too well financially [to expel foreigners]. So Mao went to the interior and raised a peasant army. He came back to Shanghai and sealed off the country.

Assad's mother was a terror. He was terrified of her and she kept saying to him, you're not like your father. That's interesting, but it's useless information. It doesn't tell me anything about how the first and second armored brigades are going to operate.

The kind of president we need has little to do with ideology and more to do with a willingness to wield power to moral ends.

The Chinese central government will slowly and steadily lose authority while regional armies [gain power]. The Western powers are going to take sides to protect their investments - they have put billions of dollars into Shanghai. Their fear is that [these investments] are going to be expropriated by a warlord from the interior who will sweep down on Shanghai. They will try to form alliances with warlords to protect their concessions, and there will be a huge flow of weapons into China.

One of the great famines in human history took place during the Chinese Cultural Revolution. [At the same time] Western journalists were reporting how marvelously Chinese society was working. We know so little [about what happens in China].