Do you think the majority of investors support the Fed’s policy of money creation to sustain the economy and the markets?
As much as people talk about how the Fed's saved the market, saved the economy and so forth through massive money printing, I don't think they really believe it. When I'm doing presentations, I often ask them. I said, "Gee, if it's really true that all this money printing has saved everything and caused no problems, why don't we do more of it? I mean the economy is not growing that well right now, a couple percent, why don't we print more money? Why don't we print a lot more money? If it's such a good idea, lets do more of it. I mean, ultimately you could simply eliminate taxes and print money right, instead and that would certainly have a huge effect on the recovery. I mean, if nobody had to pay taxes they'd certainly spend a lot more money, they'd save some money, it would all be a huge recovery". But people in a way kind of know that printing that money is a big negative. What they're really trying to tell you is that we know it's a negative, but Bob, right now the amount they're printing hopefully won't cause any problems. If you really press them and say if it doesn't cause problems, lets just print more? They know very quickly, that's not going to work. When you ask people to raise their hands. Why don't we just print $4 trillion or $5 trillion, who supports that? Nobody does. What they're saying is-- they simply support what's being done now, because they hope to God, that it's going to work-- and that's really all it amounts to.