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" 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. "

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" Regulations don't solve things. Supervision solves things. If we could figure out that the subprime thing was a train wreck that was coming, where were the regulators? "

Wilbur Ross

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Train

" 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. "

" To me, the most terrifying form of warfare would be if there was some simultaneous cyber attack on our grid, on the banking system, and on our transportation system. That would be quite a devastating thing, and yet in theory, absent some real protective measures, that could happen. "

Wilbur Ross

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" 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. "

" NAFTA is an ancient treaty. "

" Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon. "

" We're in a trade war. We've been in a trade war for decades. That's why we have the deficit. "

" There's trade, there's sensible trade, and there's dumb trade. "

" 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. "

" It's important to have a sound idea, but the really important thing is the implementation. "

" 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

" If people know you have the big bazooka, you probably don't have to use it. "

" If you want to do something to destroy consumer spending, just eat away at the middle class because the other problem we have is the structural problem of middle class America. "

" My wife Hillary sometimes accuses me of trying to reinvent the 19th century. In some ways she's right because I like things that I can understand and that aren't too complicated. "

" 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. "

" Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities. "

" 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. "

" The rules of origin in NAFTA need some tightening. Rules of origin are what let material outside of NAFTA to come in and benefit from all the taxes and tariff reductions within NAFTA. "

" Believe it or not, Mexico has better treaties with the rest of the world than the Unites States does. "

" There are deep value opportunities in insurance stocks, which were beaten down because of their exposure to the subprime crisis, annuities, and commercial real estate. "

" The typical big Japanese company has somewhere between a third and 40 percent of its revenues coming from developing countries, and about a third of Japan's exports are also to the emerging countries, so in a strange way, Japan, which has very little internal growth, its big companies are a good way to play the emerging markets. "

" We are the world's biggest importer. We need to treat the other countries as good suppliers. "

" Shale gas, if left to flourish, could create several hundred thousand more jobs. "

Wilbur Ross

Gas

Thousand

" I am not anti-trade. I am pro-trade. But I am pro-sensible trade. "

Wilbur Ross

Trade

I Am

" 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

" 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. "

" 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. "

" The E.U., China, and Japan all talk free trade, and they all practice protectionism. "

" I'm a very big proponent of cloud. We've used it a lot in private sector, and as far as we can tell, it is not only more efficient, it's probably also more secure for lots of very complicated technical reasons. I think it's a very important thing for government to do, and also to have systems that talk to each other. "

" Each weekend I play at least one and maybe two sets of tennis a day. My doubles team was in the finals recently at my tennis club in Palm Beach and lost a tiebreaker after a three-hour match. I must confess, by the end of the three hours, I was relieved it was over. "