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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.

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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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History cannot be reduced to a set of statistics and probabilities.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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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.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Senator, if I seem clear to you, you must have misunderstood me’.
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All taxes are a drag on economic growth. It’s only a question of degree.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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