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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more

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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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And she always has so much fun doing it. We make a good team.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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