Good afternoon and welcome to the aspen institute. My name is nick burns, executive director of the Aspen Strategy Group and the aspen security forum. Its a great pleasure to see this crowd. You all again cspan so be on your best behavior. And we are here to launch a a y important book on the future of the u. S. China relationship called the struggle forth powe. I agree friend could not be here with us but hes very much part of this effort. I want to pay tribute to our former secretary of defense and good friend of mine, secretary bill and mister janet , secretary , janet, welcome. In i also want to pay tribute to i think one of the people for me and bodies bipartisanship. Hes involved in every effort to bring peopletogether across partisan lines and thats steve hadley, our former National Security advisor here as well. Our director is jan and 90 well, we you will be seeing anja as one of the people doing the interviews. The subject is china. I think all of us agree our relationship wi
Weve been here in this very location for 29 days and so far you know weve been both its a tragedy but its also very interesting because so much of what weve said over the past 10 years and if you go back to shows weve done even before the kaiser report to go back 15 years so much of what weve been talking about for so long is now coming to the to the surface its its happening and so stacey talk to me a little bit about this one of the constants throughout all of our episodes of all of our various programs has been mention of my hair so just so you know in case my hair is not perfect as it usually is this is because we did not have anybody to look at me from behind until the edit situation or anything i think i have a comment on the go ahead and put the comment because this is very poor its your show youre the man in the photo i think if if the concern is for hair i think the top and the pants are going to become louder as a way to distract attention from the air but ive been observing
Well you know never feed a black hole of debt you know and this is what the strategy has been now for 15 years its actually goes all the way back down greenspan that there was a black hole of debt inside the economy because theres no accountability in the Banking Sector because of all the rules that were got no rhythm during the Clinton Administration then during the Bush Administration and during the Trump Administration all the all the checks and balances for Banking Industry types of been removed so the debt has been growing and the solution is to kill the black hole of debt not to feed the black hole of the so 6 trillion dollar bailout money is feeding the black hole of debt thats just more debt the National Debt in america is going to become more than 100 percent of g. D. P. Itll be 200 percent of g. D. P. Itll be 300 percent of g. D. P. And so the dislocation and the mispricing and the economic stress will only continue as long as the so. Lucian is to continue to do the same thin
During the 2008 crisis when we have the oracle on b. B. C. This is my earliest memory of max throwing worthless at the black hole of debt yeah well you know never feed a black hole of debt you know and this is what the strategy has been now for 15 years its actually goes all the way back down greenspan that there was a black hole of debt inside the economy because theres no accountability in the Banking Sector because of all the rules that were got no rhythm during the Clinton Administration then during the Bush Administration and during the Trip Administration all the all the checks and balances for Banking Industry types of been removed so the debt has been growing and the solution is to kill the black hole of debt not to feed the black hole of that so 6 trillion dollar bailout money is feeding the black hole of debt thats just more debt the National Debt in america is going to become more than 100 percent of g. D. P. Itll be chillen a percent of g. D. P. Itll be 300 percent of g. D.
Of our various programs has been mention of my hair so just so you know in case my hair is not perfect as it usually is this is because we do not have anybody to look at me from behind until the edit situation or anything i think i have a comment on the go ahead and put the comment because this is very poor its your show youre the man in the photo i think if if the concern is for hair i think the top and the pants are going to become louder as a way to distract attention from the hair but ive been observing women for a very very long time and that was my my observation i could be wrong now well move into the serious side of the program because we have to cover the fact that we have a Global Pandemic everybody is on lockdown max and i have been on lockdown since for 29 days many people are just in lockdown for the last 2 days or so so we have many many weeks apparently ahead to go and what we have noticed is a theme that we cover all the time on this show is that there is always a banke