“House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.”

It’s the price of success: people start to think you’re omnipotent.

Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.

Not all information is beneficial.

So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.

I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.

Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.

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

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.

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

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

The GSEs are adequately capitalized. They are in no danger of failing.

The Poet’s leaves are gathered one by one, In the slow process of the doubtful years.

The scramble to get into college is going to be so terrible in the next few years that students are going to put up with almost anything, even an education.

Touring is a young man’s game, but after 30 years of it, I want to stay home.

At this time of year it’s easy to forget the true meaning of Christianity – the lies, the corruption, the abuse.

I have been very fortunate in that I’m not doing all network shows or all cable shows, television has really become a year-round process in the way that it’s made.

I will fight in the United States Senate this year to fund a servicing mission to Hubble by 2008, a mission that would potentially increase Hubbles power and efficiency by a factor of 10 and allow us to look back almost to the beginning of the universe.

[United States] are sovereign country, they are an independent country, but this is their limit; they don’t have to interfere in any other country.

It’s not always enough to be brave, I realized years later. You have to be brave and contribute something positive, too. Brave on its own is just a party trick.