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.

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.

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

The more competitive value of the dollar turned around the trade deficit.

The higher one sits, the greater the fear of fall.

ideas generate action when they are believed regardless of whether they are true or not in our opinion

I'd never been published when I was young.

Singers- nothing sounds like you. For better or worse-there is only 1 of you. Don't homogenize your sound by making it just like the next.

I have a big following among the biogeeks of this world. Nobody ever puts them in books.

The limits of your imagination are not the boundaries of my universe.

He never falls into the trap of the word "freedom".

We consider ourselves as defective in memory, either because we remember less than we desire, or less than we suppose others to remember.

I'm like 6'2 when I wear heels, so I tend to wear cowboy boots a lot.

Today is a most unusual day, because we have never lived it before; we will never live it again; it is the only day we have.