He also believes that the Saudis want to drive the oil price so low that the United States will stop producing it, keeping them reliant on Saudi oil.
Their objective is to make sure the US 7th fleet remains in the Middle East, maintaining some regional stability and keeping the Chinese and others out of the Hormuz Straits.
Dr Robert Gay, formerly of the US Federal reserve
The world still has a lot of post-2009 GFC troubles and Gay expects that it will take another 20 years to rebalance.
He says many countries are holding their interest rates as low as possible to help stimulate growth and keep their exchange rates low.
These policies, although well intended, create bubbles and distortions in asset prices with nasty side effects - for example the property bubbles in London and Auckland.
He reminded investors to remember the 2009 GFC and not pursue high-yielding investments or high-interest lending.
Sam Churchill - Magellan
Churchill is a fund manager who is convinced that China has a huge oversupply of new buildings. He predicts a crash in their economy when building stops.
Pain disagrees, saying the Chinese will cope well if there is a problem. At worst he believes it will knock only 1.5 per cent off their growth.
Seven threats to the global economy posed by retired Danish Nato chief
1.What if an isolated Russia attacks Europe?
2.What if the madness in the Middle East somehow forces the closure of the Suez Canal? (20 per cent of the world's trade passes through it)
3.What happens if the Straits of Hormuz get blocked?
4.How would the world cope if China's disputes over islands in the Malacca Straits cause them to close? (30 per cent of the world's trade goes through them)
5.Or if Iran gets a nuclear weapon?
6.Or if Isis gets control of all Iraq?
7.What part will the Sunni vs Shia war play in the Middle East?
David Fisher PIMCO - a huge US bond fund manager
He believes that the US will increase interest rates this year by about 0.5 per cent, enough to strengthen the US$.
Tim Farrelly, Australian portfolio construction consultant
Farrelly considers that worldwide low interest rates are not a temporary phenomenon but here to stay, and investors must adapt accordingly.
Michael Reddell - formerly RBNZ
Auckland's precarious house prices are the result of successive governments' weak policies, RMA restrictions on land, and relaxed immigration.
He didn't seem to have any answers, but other countries seem to and are acting on them.
Is this a case of politicians thinking: "Meddle with property, lose elections?"
What about Oil Prices?
Lower oil prices will add 1 per cent to world growth, rather like a global tax cut. And Iran will soon kowtow to the world on its nuclear policy and start exporting oil again soon - more oil, lower prices.
Is NZ a rock-star economy?
Two economists discussed our mediocre growth rate, and concluded we are not.
How do I untangle all this "noise"?
Do the asset allocations we buy from Morningstar make sense ? Yes.
Do the funds we use have the right corporate culture? For the most part, yes.
"If in doubt, do half" - works well in so many ways, so are we using it? Yes.
Are we diversifying widely? Yes.
Are we letting the the "noise" distract us? No.
Are we rebalancing when necessary? Yes.
