History Has Not Dealt Kindly With The

We As Central Bankers Need Not Be Concerned If A Collapsing Financial Asset Bubble Does Not Threaten To Impair The Real Economy, Its Production, Jobs And Price Stability.

The Very Nature Of Finance Is That It Cannot Be Profitable Unless It Is Significantly Leveraged... And As Long As There Is Debt, There Can Be Failure And Contagion.

...our Market System Depends Critically On Trust-trust In The Word Of Our Colleagues And Trust In The Word Of Those With Whom We Do Business.

Anyone Willing To Do What Is Required To Become President Of The United States Is Thereby Barred From Taking That Office. I'm Only Half Joking

People Dont Realize That We Cannot Forecast The Future. What We Can Do Is Have Probabilities Of What Causes What, But Thats As Far As We Go. And Ive Had A Very Successful Career As A Forecaster, Starting In 1948 Forward. The Number Of Mistakes I Have Made Are Just Awesome. There Is No Number Large Enough To Account For That.