The current U.S. and Eurozone depression isn't because of China. It's because of domestic debt deflation. Commodity prices and consumer spending are falling, mainly because consumers have to pay most of their wages to the FIRE sector for rent or mortgage payments, student loans, bank and credit card debt, plus over 15 percent FICA wage withholding for Social Security and Medicare actually, to enable the government to cut taxes on the higher income brackets, as well income and sales taxes.

I don't think that governments should permit speculation in raw materials, because they're what the economy basically needs.

If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way up, investment and savings going up.

We've turned the post-war economy that made America prosperous and rich inside out. Somehow most people believed they could get rich by going into debt to borrow assets that were going to rise in price. But you can't get rich, ultimately, by going into debt. In the end the creditors always win.

Paying debt service to banks leaves less income to buy goods and services.

You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply.

The world's politics are in turmoil, not to mention the Mideast, where the US has mounted attacks from Libya to Iraq to Syria, and ISIS is attacking governments in today's pipeline rivalry.