| And his mother wanted him to be a dentist. (It's true!) Yesterday morning in DC, Carlyle Group honcho (and Baltimore native) David Rubenstein told a crowd of over 475 that even though we may be beyond the technical definition of recession (two consecutive quarters of negative growth), unemployment remains a significant drag. And don't get him started on the national debt. Nothing short of a crisis will force Congress to take action on America's $14.2 trillion obligation, David says. He recommends a commission to force an up-or-down vote on tackling the budget. He says the spirit ofentrepreneurship is what attracts people to the US, though it's gotten harder to get a business off the ground. David's favoriteinternational market to invest in? China. He believes the time is likely to come this century when the US economy will be No. 3 in GDP to China and India. |
| We snapped David with Glassman Wealth Management Services president Barry Glassman, who moderated the conversation. David doesn't call Brazil or India emerging markets; he calls them "emerged." Stateside, David says, inflation might rise by 5% over the next few years, but it'll be ?tolerable.? He's more concerned with keeping the dollar viable as the world's reserve currency if we don't solve our debt and jobs problems soon. |
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