“We cannot rule out a situation in which a preemptive policy tightening becomes necessary.”

Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.

The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.

Gold stands in the way of this insidious process. It stands as a protector of property rights.

I have long argued that paying down the national debt is beneficial for the economy.

Productivity is notoriously difficult to predict.

The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.

Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.

If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.

Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.

There is no evidence that the business cycle has been repealed.

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.

The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.

I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.

It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.

The arts develop skills and habits of mind that are important for workers in the new economy of ideas.

Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.

Young people who are just starting out somehow need to let you know they know how to sing.

Don’t worry. You don’t know enough to worry. . . . Who do you think you are that you should worry, for cryin’ out loud. It’s a total waste of time. It presupposes such a knowledge of the situation that it is, in fact, a form of hubris.

I think I was pretty reckless and definitely a bit out of control. Now, I’m more focused.

When we have hope, we are showing that we trust God to work out the situation. Trust is the only way we’re going to make it through and be a part of God’s marvelous plan for His child.

I came out of Bataan and I shall return!

They asked me when I was out there, ‘Why do you want to be traded?’ I said me staying here is like divorcing my wife and marrying someone who looks like me. That’s backwards, man.

Time is the most valuable thing on earth: time to think, time to act, time to extend our fraternal relations, time to become better men, time to become better women, time to become better and more independent citizens.

No matter what the song was about, I had ’em out there.