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"If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession."
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"A nation with a strong defence industry will not only be more secure. It will also reap rich economic benefits - it can boost investment, expand manufacturing, support enterprise, raise the technology level and increase economic growth in the country."
"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"Employment is the biggest form of slavery."
"Our "Make in India" initiative is not intended for only manufacturing for the domestic market or import substitution. It is as much about making world-class products and services for the whole globe."
"India's economic success is the hard-won result of prudence, sound policy and effective management."
"As the U.S. businesses search for new areas of economic growth, markets for their goods, a pool of skilled resources, and global locations to produce and manufacture, India could be their ideal partner. India's strong economy, and growth rate of 7.6% per annum, is creating new opportunities for our mutual prosperity."
"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Capitalism without Bankruptcy is like Catholicism without Hell."
"My claim is that we do not have a market economy, but a capitalist economy."
Explore more quotes by Franklin Raines
"The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid."
"That is - the reason for that is that home prices are only going to go up. Now, they've never gone down nationwide in our - since we've been keeping track of this."
"We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy."
"Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates."
"We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year."
"Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers."
"Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off."
"And so we have to be careful with looking at additional stimulus that we don't provoke an increase in the bond rate and then offset a lot of the stimulus we've already got."
"I think if you go beyond a year - if this continues into the system in the out years, I think there is a risk and that - that we could have a negative reaction in the bond market and that will offset the good that was attempted to be done."
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