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"But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries."
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"Some people will each start investing more of their salary on 'their' house and spending less of it on 'their' car or cars only when they start being able to take 'their' house to work, funerals, weddings, etc."
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Personal Development
"Don't spend your money on luxuries. Save it and secure a safe future. Don't crave for quick satisfaction."
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Personal Development
"When buying shares, ask yourself, would you buy the whole company?"
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Personal Development
"The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength."
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Personal Development
"Money does not go only to those who go to church, it goes to those who know and comply with the laws of money."
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Personal Development
"Money is a necessity, but not the determinant of a successful life. It is there to secure you, but not to save you! It is there to support you, but not to sanctify you!"
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Personal Development
"What the culture of get rich quick does to our people is Fraudulent money schemes are prevalent in the society."
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Personal Development
"God will always respond to our responsible management of the riches we have received from Him with promotion and stability."
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Personal Development
"He who makes $25,000 annually through passive income is more enviable than he who earns $100,000 annually through a salary."
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Personal Development
"Your future self would surely thank your present self if you start to wisely invest your money now."
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Personal Development
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"I think that over the last few decades, we have seen better economic outcomes than in the past."
Past
"Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly."
Economy
"But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries."
Finance
"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
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