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

Domestic inflation reflects domestic monetary policy.

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.

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.

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.

These are Tyler's words coming out of my mouth. I am Tyler's mouth. I am Tyler's hands.

Take care of your people" is one of the principle lessons of military leadership. If we take care of our people on deployment, why should that change when we come home?

Leisure is being allowed to do nothing.

Ignorance lies at the bottom of all human knowledge, and the deeper we penetrate, the nearer we arrive unto it.

People are simply incapable of prolonged, sustained goodness.

They kept saying 'It's sushi-grade!' And I'm like... 'Put some soy sauce on this. Get me some rice. And cook it. And then get me out of here.

I think escapism is really important.

Between thought and expression lies a lifetime.

A manager's ability to turn meetings into a thinking environment is probably an organization's greatest asset.

This is what I want to be. An instrument of mercy, not vengeance.