41 quotes
When trust is lost, a nation's ability to transact business is palpably undermined.
The Age of Turbulence (2008)
Globalization was exerting a dis-inflationary impact.
The Age of Turbulence (2008)
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
The Age of Turbulence (2008)
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
The Age of Turbulence (2008)
Modern dynamic economies do not stay still long enough to allow for an accurate reading of their underlying structures.
The Age of Turbulence (2008)
From the development of the textile loom two centuries ago to today's Internet, output per hour has increased fifty fold.
The Age of Turbulence (2008)
The Fabians laid the groundwork for modern social democracy, and their influence on the world would end up being at least as powerful as that of Marx.
The Age of Turbulence (2008)
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
The need for values is inbred. Their content is not.
The Age of Turbulence (2008)
Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
We generally did not talk about the stock market very much at the Fed.
The Age of Turbulence (2008)
We are going through a period with no precedent in American history.
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.
I was intellectually limited until I met her.
The Age of Turbulence (2008)
I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I said.
I really didn't get it until very late in 2005 and 2006.
An area in which more rather than less government involvement is needed, in my judgment, is the rooting out of fraud. It is the bane of any market system.
The Age of Turbulence (2008)
Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity – myself especially – are in a state of shocked disbelief.