But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988.

Domestic inflation reflects domestic monetary policy.

So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.

The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product.

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers.

Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

A second reason why science cannot replace judgement is the behavior of financial markets.

There was the world and there is you, where I belong clouds are more powerful than the sun.

Move your body.

If I close my eyes, I do not see anything but, if I imagine, I see something. To look beyond what you look and see, use your minds eye and not your eyes

Sentimentally I am disposed to harmony but organically I am incapable of a tune.

I'm horrified to admit that I just love Salinger. I was devastated to find out that other people feel the same way.

I just wish, when neither of us has written to my husband's mother, I didn't feel so much worse about it than he does.

Once love had seemed like magic. Now it seemed like tricks.

Im not a celebrity. I dont take myself too seriously. I know where I stand in the food chain. And no matter how much of an insider I ever become or am, Ill still always be an outsider.

My painting is visible images that conceal nothing... they evoke mystery. Mystery means nothing. It is unknowable.

I am determined to sustain myself as long as possible and die like a soldier who never forgets what is due to his honour and that of his country, Victory or death.