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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.

Ben Bernanke

[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
BEN BERNANKE

Innovation Long Promise
One might as well try to perform brain surgery with a sledgehammer.
BEN BERNANKE

Brain might Trying
…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
BEN BERNANKE

Goal Investing Levels
It’s the price of success: people start to think you’re omnipotent.
BEN BERNANKE

People Price Success Thinking
We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
BEN BERNANKE

Employment House Thinking
Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.
BEN BERNANKE

Important Mean Strong
The Fed is totally open.
BEN BERNANKE

Fed Feel Open Totally
The central bank needs to be able to make policy without short term political concerns.
BEN BERNANKE

Able Needs Political
How much would you pay to avoid a second Depression?
BEN BERNANKE

Borrow Depression Great Pay
The Federal Reserve will not monetize the debt.
BEN BERNANKE

Debt Federal Reserve Reserves
Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
BEN BERNANKE

Effort Government Trying
Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
BEN BERNANKE

Banking Ratio Serious
The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
BEN BERNANKE

Investing Risk Use
It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
BEN BERNANKE

Cost Frustrating Raises
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
BEN BERNANKE

Adversity People Use
The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.
BEN BERNANKE

Cutting Ongoing Order

If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.

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If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.

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