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BEN BERNANKEThe U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
More Ben Bernanke Quotes
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Nobody really understands gold prices and I don’t pretend to understand them either.
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I am confident that we will meet whatever challenges the future may bring.
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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.
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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.
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…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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One might as well try to perform brain surgery with a sledgehammer.
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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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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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How much would you pay to avoid a second Depression?
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Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
BEN BERNANKE