Peter G. Peterson - The Blackstone Group - Latest Project.

Discussion in 'Economics' started by SouthAmerica, Feb 8, 2007.

  1. .

    February 8, 2007

    SouthAmerica: Today when I was reading The Financial Times I noticed the following article.

    Peter G. Peterson's biography says that he is the Chairman and Co-Founder of The Blackstone Group – the private equity group.

    He is also Chairman of The Council of Foreign Relations, founding Chairman of the Peterson Institute for International Economics (Washington D.C.) and founding President of The Concord Coalition.

    He has a real heavy-duty background, and among other things - he was named Secretary of Commerce by President Richard Nixon in 1972.

    Mr. Peterson is the author of several books, including

    1) “Running On Empty”

    2) “How Democratic and Republican Parties are Bankrupting Our Future and What Americans Can Do About It”

    3) “Gray Dawn: How the Coming Age Wave Will Transform America and the World”

    4) “Facing up: How to Rescue the Economy from Crushing Debt and Restore the American Dream”


    According to The Financial Times story Mr. Peterson want to make a movie similar to Al Gore’s movie on “Global Warming” – but his movie will be about the pile of US government debt that the United States has been accumulating since the Reagan administration.

    If Mr. Peterson want to duplicate some of the scenes from Al Gore’s movie – like the scene when Mr. Gore takes a lift and go up and up to show the line going straight up on his chart.

    In Mr. Peterson’s movie he will need to hire a stuntman and use the Taipei Financial Centre (the world's tallest building since 2004) – to show the level of US government outstanding cumulative debt that has been reached so far – after that Mr. Peterson will need to use Mount Everest in the Himalayas to show the level of cumulative outstanding debt that the United States government is going to reach in the near future.

    The article said that Mr. Peterson is not sure how to use pictures and charts to have a similar impact as the Al Gore movie.

    In my opinion that would be a piece of cake to be accomplished when you consider the size and the future impact on each of the major categories of the United States federal government annual budget.

    I hope he funds such a project ASAP.


    “Pete Peterson's big budget film”
    Published: February 7, 2007
    The Financial Times - UK

    Pete Peterson wants to do for the budget deficit what Al Gore, former US vice-president, did for global warming.

    Peterson, the co-founder of Blackstone and former US commerce secretary, is planning a movie to dramatise the threat the deficit poses to future generations…..

  2. .

    February 8, 2007

    SouthAmerica: After posting the above information about Peter Peterson’s movie I started thinking who would be a good choice to play a similar part as Al Gore played on “An Inconvenient Truth”.

    The first name that came to mind was the name of the “legendary Fed Chairman” - Paul Volcker.

    He would be my first choice, and I would ask him to make a screen test for that part to see how he come across in an actual movie presentation.

    Paul Volcker might be the best choice to play Al Gore’s part in a movie about the United States government massive cumulative debt.

    The main subject of Al Gore’s movie it is “Global Warming” – in the other hand the main subject of Peter Peterson’s movie it is the coming
    “Global Financial Meltdown.”

    As far as the name for Mr. Peterson’s movie I would suggest:
    “A Convenient Deceit”.

  3. .

    February 8, 2007

    SouthAmerica: “A Convenient Deceit” is a very good name for this movie.

    “Convenient” because the United States has been sucking in 89 percent of the global savings year after year.

    “Deceit” because in the coming years all these foreigners can kiss good-bye to the value of all their investments made in US dollar.

    In “Global Warming” we have the melting of the ice caps and so on….

    In pile the US government debt “Mount Everest sky high” we have the melting of the value of the US dollar.

  4. MingWu


    do you mean US is going make chinese devalue the Yuan and then export everything to china?
  5. .

    MingWu: do you mean US is going make chinese devalue the Yuan and then export everything to china?


    SouthAmerica: If you devalue the Yuan as you mentioned on your posting then Americans would buy even more stuff from China and Americans would also continue increasing its borrowing from China even further and instead of having US government debt going up only to the top of Mount Everest – in that case the US government debt would go up to the “MOON”.

  6. .

    February 9, 2007

    SouthAmerica: Reply to Jem

    I thought that my webpage had been deleted from the web, but I found out that it was not the case.

    I was told that someone had disabled my webpage – and that was the reason why no one could access the webpage in the internet – But the webpage was intact and they just had to reactivate the webpage.

    I just checked the webpage, and it is up once again at the same old address.


    My Book:

    “José Bonifácio de Andrada e Silva - The Greatest Man in Brazilian History”
    By: Ricardo C. Amaral

    About the Author

    This article is the first part of a four part series in commemoration of Brazil's 500th anniversary. (Brazil's actual birthday date is April 22, 2000)

    PART - I
    José Bonifácio — The Outstanding Prime Minister

    PART - II
    José Bonifácio's Education

    PART - III
    The Independence Process

    PART - IV
    The Andrada Brothers