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" In many critical things, such as the very high purity of the aluminium we need in aerospace, we only have one producer. That's not a good formula. "
Wilbur Ross
Only
Good
High
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" We are the world's biggest importer. We need to treat the other countries as good suppliers. "
Wilbur Ross
Good
Biggest
Other
" I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs. "
Wilbur Ross
America
Trade
Think
" Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things. "
Wilbur Ross
Things
Banking
World
" The one term I don't like to be called is a 'vulture.' Because to me, a vulture is a kind of asset-stripper that eats dead flesh off the bones of a dead creature. Our bird should be the phoenix, the bird that reinvents itself, recreates itself from its ashes. And that's much closer to what it is that we really do. "
Wilbur Ross
Me
Phoenix
Kind
" I still like TIPS (Treasury inflation-protected securities), and I think a big opportunity is coming in the municipal bond market. "
Wilbur Ross
Think
Opportunity
Like
" I think partly the decline in the peso was due to worry about renegotiation of NAFTA, but I think we also need to think about some other mechanisms for making the peso/dollar exchange rate a bit more stable. "
Wilbur Ross
Need
Worry
Think
" My obligation is to disclose companies in which I'm an officer, a director, or an investor. "
Wilbur Ross
Investor
Director
Officer
" You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning. "
Wilbur Ross
You
Day
More
" There isn't a bank in the world that could withstand a run. They all borrow short and lend long, regardless of what they say. "
Wilbur Ross
Short
They Say
World
" There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions. "
Wilbur Ross
Decisions
Evidence
America
" The fact that you're successful doesn't mean that you can't relate to working people. "
Wilbur Ross
People
Successful
Working
" Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities. "
Wilbur Ross
Individual
Strange
Big
" Confrontational things, admission of error, admission of defeat, restructuring, laying people off - those are not American ideals. "
Wilbur Ross
Things
Defeat
American
" China is the most protectionist country of the very large countries. They talk more about free trade than they actually practice. "
Wilbur Ross
Country
Talk
Free
" Absent some international interruption, there's no real justification for oil being more than $90 or $100 a barrel. "
Wilbur Ross
Justification
Some
Real
" We'll be aggressive on trade because we know that deals that have been made historically have resulted in the great loss of manufacturing jobs, a great amount of closed manufacturing businesses. We don't want that to continue. "
Wilbur Ross
Great
Know
Loss
" The E.U., China, and Japan all talk free trade, and they all practice protectionism. "
Wilbur Ross
Talk
Practice
Free
" The United States is the least protectionist country in the world but has the largest trade deficit, while other countries are highly protectionist and have huge trade surpluses. This cannot continue. "
Wilbur Ross
Country
Trade
United States
" The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second country. You get picked apart. And you go with the third one. You get picked apart again. "
Wilbur Ross
Trade
You
Country
" Part of the reason why I'm supporting Trump is that I think we need a more radical, new approach to government - at least in the U.S. - from what we've had before. "
Wilbur Ross
Need
Why
Reason
" I believe in the two-party system. "
Wilbur Ross
Believe
I Believe
I Believe In
" The whole idea of a trade deal is to build a fence around participants inside and give them an advantage over the outside. So there's a conceptual flaw in that, one of many conceptual flaws in NAFTA. "
Wilbur Ross
Flaws
Inside
Trade
" If you add up all the promises any politician makes, the math doesn't work. Hillary Clinton's math doesn't work; Donald's math probably doesn't work. I think you have to listen to their campaign pitches more as symbolic, more as metaphors. "
Wilbur Ross
Think
Promises
More
" Many of the smaller banks have had to get to the point where they now have more compliance people than they have lending offices. That's crazy. "
Wilbur Ross
Crazy
Compliance
More
" If trade deficits are good, why is China so pleased that they run a huge trade surplus? It's perfectly obvious that if China hadn't been such a huge net-exporter, it never would have grown at the rate that it did. "
Wilbur Ross
Good
China
Never
" China is the world's biggest exporter, but they're also the people with one of the highest tariffs on imports in the whole world. That seems a little bit oxymoronic. "
Wilbur Ross
Seems
People
Little
" Barring some national security concern, I see no valid reason to keep peer-reviewed research from the public. To be clear, by 'peer review,' I mean scientific review and not a political filter. "
Wilbur Ross
Political
See
Research
" The fundamentals are the U.S. is going to end up being a net exporter of natural gas. That's going to be wonderful to help our balance of payments, reduce our dependence on a lot of countries that aren't so crazy about us, and change many, many parts of what goes on here. "
Wilbur Ross
End
Balance
Crazy
" Shipping has a great oversupply of vessels that came from over-ordering a few years back. We think 2014 may be when it turns around. "
Wilbur Ross
May
Back
Years
" One of the problems with industries that have been in relatively long-term declines is that, very often, the managements in those industries develop a kind of loser mentality. And when you ask them what's wrong with the business, they'll point to extraneous forces. "
Wilbur Ross
Kind
Business
Loser