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John Malone on America and Obama

You just have to love Dr. John Malone. The guy's a certified genius but also a "what you see is what you get" straight-shooting kind of guy. His Ph.D. is from Johns Hopkins, BA is science from Yale, worth $2.3 billion (according to Forbes, but probably way low because they just couldn't find all of it). He ran TCI (America's largest Cable company) and sold it to ATT for $54 billion. He's the kind of person that you could just sit and listen to for hours. He's so logical, well informed and well spoken.

In a recent interview with the Wall Street Journal here's a few nuggets from what he had to say... (I agree with him about Obama)


WSJ: What are the biggest risks for Liberty right now?

Mr. Malone: I think the biggest concern I have for the next year or two would be on the retail side, because of the consumer sentiment and the macro conditions. The concerns really tend to be much more macro: Is America going to make it, rather than are we going to make it? It's pretty hard. If the country doesn't make it, do any of us make it?

WSJ: What are you doing to protect against the weak American economy?

Mr. Malone: Well, my wife, who is very concerned about these things, moved all her personal cash to Australia and Canada. She wants to have a place to go if things blow up here.

Canada has a lot more fiscal and bank responsibility than most places in the world and lots of natural resources.

We have a retreat that's right on the Quebec border. We own 18 miles on the border, so we can cross. Anytime we want to we can get away. It would probably be illegal but we could go. Actually our snowmobile trail goes right on the border.

WSJ: Do you think President Obama should be re-elected?

Mr. Malone: I don't think he should have been elected in the first place. I think he's incompetent. But now, I've thought that of the last couple presidents. [Obama's administration] is all academics and lawyers. I'm afraid that our real problems are systemic and long term. And lawyers are primarily trained in fighting over the pie, not making the pie bigger. And this country definitely needs to think about making the pie bigger.

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