I Guess I Should Warn You, If

Without The Triggers, That Tax Cut Is Irreponsible Fiscal Policy. Eventually, I Think That Will Be The Consensus View.

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.

I Love Facts And Figures. It's Like Following A Detective Story, Piecing Together What's Going On In The Economy.

I Do Not Deny That Many Appear To Have Succeeded In A Material Way By Cutting Corners And By Manipulating Associates, Both In Their Professional And In Their Personal Lives. But Material Success Is Possible In This World And Far More Satisfying When It Comes Without Exploiting Others.

The Use Of A Growing Array Of Derivatives And The Related Application Of More-sophisticated Approaches To Measuring And Managing Risk Are Key Factors Underpinning The Greater Resilience Of Our Largest Financial Institutions... Derivatives Have Permitted The Unbundling Of Financial Risks.