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"Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States."
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"Capitalism without Bankruptcy is like Catholicism without Hell."
"Employment is the biggest form of slavery."
"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"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."
"The ways by which you may get your money almost without exception lead downward. To have done anything by which you earn money 'merely' is to be truly idle or worse. If the labourer gets no more than the wages which his employer pays him, he is cheated, he cheats himself.. If I should sell both my forenoons and afternoons to society, as most appear to do, I am sure that for me there would be nothing left worth living for.. You must get your living by loving."
"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."
"It is clear that the economy has not gotten better for everyone."
Explore more quotes by John W. Snow
"Well, I make a practice of not commenting on the role of the relative exchange value of our currency."
"We have the most flexible and adaptive economy. Making sure we sustain the ability of the American economy to perform well is really the priority of economic policy."
"But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation."
"We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings."
"We can get more energy out of the north slope of Alaska; we have available the ability to make ourselves less dependent on those uncertain sources of supply from the Middle East. And it's important we do that."
"Everybody you talk to about insurance says the insurance market has become a lot more vibrant as a result of lifting, allowing the foreign direct investment."
"We must start with the reality that corporations cannot guarantee anyone a lifetime job any more than corporations have a guarantee of immortality."
"We have a serious structural deficit problem. And it needs to be addressed. The president is trying to address it through reforms of Social Security, but the problem is there with other entitlement programs like Medicare and Medicaid."
"And we have abundant natural energy resources in the country. We haven't been taking adequate advantage of them, and we can burn coal in a clean way; we could improve the grid."
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