So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.

Domestic inflation reflects domestic monetary policy.

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.

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.

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.

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

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.

Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

A second reason why science cannot replace judgement is the behavior of financial markets.

The more competitive value of the dollar turned around the trade deficit.

Notwithstanding how long you shall keep thinking about it, action is what will make it a reality! When you dream, act! When you act, act well!

I always said I acted like a twelve-year old, so I decided to write like a twelve-year old.

A woman is a foreign land.

Patriotism does not mean giving blind loyalty and a blank check to George W. Bush.

My parents were young and liberal and knew I was going to drink anyway, so they let me do it at home.

To shoot at crows is powder flung away.

I'm not a neat freak. I don't mind things being messy but I mind them being dirty. I just can't relax in a dirty environment. I like things organized.

Prayer is a powerful thing; for God has bound and tied himself thereunto.

A realized one sends out waves of spiritual influence in his aura, which draw many people towards him. Yet he may sit in a cave and maintain complete silence.

Reality is rarely what we imagine. Great and noble things do not always happen for great and noble reasons.