Vanguard Founder Jack Bogle to Fox Business: China is “Sinking Quite a Bit”

In an interview last Friday on FOX Business Network’s (FBN) Cavuto (8 PM/ET), Vanguard founder Jack Bogle talks with anchor Neil Cavuto about what he sees ahead for the economy. Bogle says, “I think it’s less that we get the right rules than that we get some rules.” Bogle goes on to say that the U.S. economy is the “best performer in the developed world by a good margin,” and says that, “China seems to be sinking quite a bit.”

Bogle is a titan in the financial world, named one of the four “Giants of the 20th Century” by Fortune magazine (1999). Besides founding The Vanguard Group in 1974, now the second largest mutual fund company in the world, he also started Vanguard 500 Index Fund, the first index mutual fund to be accessible to the general investing public. He is the author of ten books, many of them bestselling.

In his interview with Cavuto, he lays out some provocative predictions for both the US and world economy:

“We have to get some clarity as to what the future holds in terms of the government’s role, taxes, capital gains, dividends. I think it’s less that we get the right rules than that we get some rules, but the fact of the matter is our economy, U.S. GDP, is the best performer in the developed world by a good margin and the rest of the world has not made this kind of recovery. China is of course much more rapidly growing, but seems to be sinking quite a bit.”

This is a strikingly more optimistic tone than the one he hit only last month in an interview with USA Today, in which he ominously warned about the “coming train wreck in the financial system”

Here is the video:

http://video.foxbusiness.com/v/1854369334001/treasury-considering-new-rules-to-fight-money-laundering/?playlist_id=87065

Category: National