Monday, December 17, 2007

The world does not revolve around the United States

Michael Milken, the junk bond billionaire turned philanthropist is quoted as saying:
"Today the strength of the world's economy is helping America and the United States, and I think that will soften the blow of our downturn in housing,'' Then he makes a comment relative to global mindset:``We have to realize, similar to the time of Galileo, that the whole world is not necessarily revolving around the United States and the amazing story of America.'' Milken, chairman of the Milken Institute, an independent economic think tank based in Santa Monica, California goes on to mention the importance of human capital: "The most important asset and the largest asset category in the United States or any country is human capital,'' . "The cure of cancer is worth $45 trillion to the U.S. economy. The elimination of heart disease as a cause of suffering and death is worth almost $50 trillion to the U.S. economy. The solution to those two problems far outweighs any other economic discussion which we could have today.''

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