I’m speechless at this Bloomberg piece:

Michael Milken, the controversial financier and philanthropist, said China will overtake the U.S. economically this century, though for now the U.S. should concentrate on Mexico.

“Our projections show the United States will be the world’s second-largest economy and India will be the third,” some time this century, said Milken, chairman of the Milken Institute, an economic research group in Santa Monica, California.

Why is this guy still getting media attention? And why do we care what his opinion on China is?

My goodness, is "controversial financier and philanthropist" really the best way to describe a guy like Milken? Incredible. I suppose when their sentences are up, the guys that brought us the Enron collapse will be getting similar treatment, perhaps getting their own talk shows and/or running hedge funds.

To the kids out there: if you don’t know who Milken is, get thee to a Wikipedia, and fast. Factoid: Milken is from Encino, California, home to the U.S. porn industry. Coincidence? I think not.