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"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."
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"Since we took office, inflation, the fiscal deficit and the balance of payments current account deficit have all fallen. GDP growth, foreign exchange reserves, stock market valuations, and investor confidence have all increased. This success is the result of a series of well thought out policies."
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Personal Development
"My task over the last two years hasn't just been to stop the bleeding. My task has also been to try to figure out how do we address some of the structural problems in the economy that have prevented more Googles from being created."
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Personal Development
"Another point of economy is to look for seed of the same kind as you sow, and not to hope to buy one kind with an other kind. Friendship buys friendship; justice, justice; military merit, military success...Yet there is commonly a confusion of expectations on these points. Hotspur lives for the moment, praises himself for it, and despises Furlong, that he does not. Hotspur of course is poor, and Furlong is a good provider. The odd circumstance is that Hotspur thinks it a superiority in himself, this improvidence, which ought to be rewarded with Furlong's lands."
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Personal Development
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
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Personal Development
"In capitalist nation, all is decided by money."
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Personal Development
"Economic growth cannot only be restricted to a few cities and a few citizens. Development has to be all-round and all-inclusive."
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Personal Development
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
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Personal Development
"Employment is the biggest form of slavery."
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Personal Development
"Because of the power that we have given money: The government would rather have taxpayers who do not vote, than voters who do not pay tax."
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Personal Development
"Not every single broke and unemployed person needs a job, some need customers."
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"We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation."
Gain
"In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth."
Experience
"After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive."
Ability
"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."
Economy
"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."
Economy
"A second reason why science cannot replace judgement is the behavior of financial markets."
Science
"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."
Finance
"Domestic inflation reflects domestic monetary policy."
Policy
"We are particularly poor at the open economy issues."
Economy
"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."
Power
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