The World Is Still In Deleveraging.

A Beautiful Deleveraging Balances The Three Options. In Other Words, There Is A Certain Amount Of Austerity, There Is A Certain Amount Of Debt Restructuring, And There Is A Certain Amount Of Printing Of Money. When Done In The Right Mix, It Isn't Dramatic.

If Inflation-adjusted Interest Rates Decline In A Given Country, Its Currency Is Likely To Decline.

I Learned That Everyone Makes Mistakes And Has Weaknesses And That One Of The Most Important Things That Differentiates People Is Their Approach To Handling Them. I Learned That There Is An Incredible Beauty To Mistakes, Because Embedded In Each Mistake Is A Puzzle, And A Gem That I Could Get If I Solved It, I.e. A Principle That I Could Use To Reduce My Mistakes In The Future.

When There Is Pain, The Animal Instinct Is 'fight Or Flight' (i.e., To Either Strike Back Or Run Away) - Reflect Instead. When You Can Calm Yourself Down, Thinking About The Dilemma That Is Causing You Pain Will Bring You To A Higher Level And Enlighten You, Leading To Progress.

Competitiveness Is Really What It Costs You Per Man-hour To Get You What You Want. In Other Words, There's An Education Level That Plays Into The Mix And So If It's Inexpensive To Buy An Hour Of Real Good Education In Places Like China Versus The U.s., That Factors In.