“We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.”

People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.

In general, corruption tends to exist whenever governments have favors to extend, or something to sell.

The tub helps me relax, and it’s a great place to read.

I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.

In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.

But material success is possible in this world and far more satisfying when it comes without exploiting others.

It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.

If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.

To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

Significantly opening up immigration to skilled workers solves two problems.

If you think you understand what I am saying you do not understand what I am saying.

Then fear hits, and it comes down very sharply. When I started to look at that.

If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.

I’m a better economist than I was a sax player.

I’m a plain soap kind of guy.