The language 'It's too late' is very unsuitable for most environmental issues. It's too late for the dodo and for people who've starved to death already, but it's not too late to prevent an even bigger crisis. The sooner we act on the environment, the better.
One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.
We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own.
Modern agriculture has been accurately described as a way of turning oil into food. As the price of oil continues to rise, so will the price of food.
If you're afraid of inflation, I think - and if you can bring yourself to have a long horizon - and when I say long, I mean ten to 20 years, not the usual ten to 20 weeks - that locking up resources in the ground is a terrific idea.
I like to be right. I try not to miss the big ideas, forget the little ones, and try to get them right. End of job description.
History speaks pretty clearly that the markets do better with Democrats. Republicans' ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets.
Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to.
You don't get rewarded for taking risk; you get rewarded for buying cheap assets. And if the assets you bought got pushed up in price simply because they were risky, then you are not going to be rewarded for taking a risk; you are going to be punished for it.
We live on a finite planet. We have finite resources, and we're running out of good, arable land.
I think I'm right-brained, incapable of managing my way out of a brown paper bag.
The only investable idea I have real confidence in is farming and forestry. My family owns some forest, and now we're closing on a farm. Make the farming more sustainable and the forestry more sustainable, and everyone benefits.
Low-cost, high-grade coal, oil and natural gas - the backbone of the Industrial Revolution - will be a distant memory by 2050. Much higher-cost remnants will still be available, but they will not be able to drive our growth, our population and, most critically, our food supply as before.
Equities are boring; bonds are disgusting.
There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.
I find the parallels between how some investors refuse to recognise the trends and our reaction to some of our environmental challenges very powerful. There is an unwillingness to process unpleasant data.
Libertarians believe that any government interference is bad. Anyone with a brain knows that climate change needs governmental leadership, and they can smell this is bad news for their philosophy. Their ideology is so strongly held that, remarkably, it's overcoming the facts.
If you're saying something that people don't want to hear or accept, a significant proportion of them will reply with hostility. Not because they know the facts, or because they have researched it themselves, but because they're so psychologically involved in believing good news that they will oppose it with a reflex.
I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.
I have an eccentric view on commodities not necessarily shared by my colleagues - or by almost anybody. And that is, we're running out of everything.
