Rates Quotes - page 4
Question: If you could pick one cause that has gotten us here, what'd you say it is?
Ron Paul: Easy money. The Federal Reserve artificially lowering interest rates, deceiving the people, the investors, the savers, into believing that there's a lot of savings out there, and that we should invest more, build more houses, more cars. It's the malinvestment, which is every bit as dangerous, from the inflation of the money supply, as is the high prices that usually come.
Ron Paul
1963 is when prayer and Bible reading was taken out of the American school system. Anybody remember that? Madalyn Murray O'Hair? Her son, by the way, became a preacher. His mom used him to get prayer taken out. But in 1963, sexually transmitted diseases began to climb. This is for kids 10 to 14 years of age. 1963 is when divorce rates began to go up. By the way, premarital sex and divorce go hand and hand. If you don't trust 'em before you're married, you won't trust 'em after you're married. 1963 is when violent crimes began to increase. There's been nearly a 1000% increase in violent crimes. 1963 is when unwed birthrates began to incline. 100% increase for girls 10 to 14. By the way, pregnancies have increased 553%. SAT scores have dropped off incredibly since 1963. 1963 is when we saw an incredible rise of married couples living together in adultery. Teen suicide rate has gone crazy.
Kent Hovind
One of the common means by which one nation exploits another and one that is relevant to Africa's external relations is exploitation through trade. When the terms of trade are set by one country in a manner entirely advantageous to itself, then the trade is usually detrimental to the trading partner. To be specific, one can take the export of agricultural produce from Africa and the import of manufactured goods into Africa from Europe, North America, and Japan. The big nations establish the price of the agricultural products and subject these prices to frequent reductions. At the same time the price of manufactured goods is also set by them, along with the freight rates necessary for trade in the ships of those nations. The minerals of Africa also fall into the same category as agricultural produce as far as pricing is concerned. The whole import-export relationship between Africa and its trading partners is one of unequal exchange and of exploitation.
Walter Rodney
Capitalism should not be condemned, since we haven't had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It's not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!
Ron Paul
I am presently at work on a dissertation dealing with the theory of international trade and foreign exchange rates. In dealing with this, studies of the intervention of recent years in the area of trade and exchange rates of different countries is of the greatest importance. I therefore hope to be able to begin a six month study tour to Switzerland, France and England at the end of May this year. After having collected the necessary material I intend - if the economic side can be arranged - during a stay of 6–12 months in England (probably Cambridge) or possibly the United States (in that case probably Harvard University) - to work out the above mentioned dissertation as a specimen for the doctoral degree in philosophy and pursue studies in general. I have not yet any detailed study plan. That should appropriately be set up after the arrival.
Bertil Ohlin
[G]enes make enzymes, and enzymes control the rates of chemical processes. Genes do not make "novelty seeking” or any other complex and overt behavior. Predisposition via a long chain of complex chemical reactions, mediated through a more complex series of life's circumstances, does not equal identification or even causation.
Stephen Jay Gould
The problem is easy to state: developing countries borrow too much-or are lent too much-and in ways that force them to bear most or all of the risk of subsequent increases in interest rates, fluctuations in the exchange rate, or decreases in income. Given this, it is not surprising that they often cannot repay what is owed.
Joseph Stiglitz
There is little doubt that the observation that quality may depend on price (productivity on wages; default probability on interest rates) has provided a rich mine for economic theorists: A simple modification of the basic assumptions results in a profound alteration of many of the basic conclusions of the standard paradigm. The Law of Supply and Demand has been repealed. The Law of the Single Price has been repealed. The Fundamental Theorem of Welfare Economics has been shown not to be valid.
More than that, the theories that we describe here provide the basis of progress toward a unification of macroeconomics and microeconomics. They pro vide an explanation of unemployment and credit rationing, derived from basic microeconomic principles. It is a theory in which the extensive idleness that periodically confronts society's resources, human and capital, is seen as but the most obvious example of market failures that prevasively and persistently distort the allocation of resources.
Joseph Stiglitz
But further analysis and experience soon raised doubts about the efficacy of these new tools. Empirical research indicated that the Keynesian multiplier was much smaller than earlier analyses had assumed, reduced by a crowding out of interest-sensitive spending caused by an induced increase in the demand for money and by the effect of the larger national debt on long-term interest rates. The leakage of demand through imports and the effect of the fiscal expansion on the exchange rate further reduced the multiplier.
Martin Feldstein
Instead of talking about the things that most people care about, we talked about what we cared about most. While parents worried about childcare, getting the kids to school, balancing work and family life, we were banging on about Europe. As they worried about standards in thousands of secondary schools, we obsessed about a handful of more grammar schools. As rising expectations demanded a better NHS for everyone, we put our faith in opt-out for a few. While people wanted more than anything stability and low mortgage rates, the first thing we talked about was tax cuts.
David Cameron
That said, there can be little doubt that exceptionally low interest rates on ten-year Treasury notes, and hence on home mortgages, have been a major factor in the recent surge of homebuilding and home turnover, and especially in the steep climb in home prices. Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home prices seem to have risen to unsustainable levels.
Alan Greenspan
I want to make sure you keep your eyes on the ball, that is, the two basic missions of a central bank. The first is maintaining macroeconomic stability: maintaining stable growth and keeping inflation low and stable. The principal policy tool for maintaining macroeconomic stability is monetary policy. In normal times, the Fed and other central banks use open market operations-purchases and sales of securities in markets-to move interest rates up or down, and in doing so try to create a more stable macroeconomic environment.
The second part of a central bank's mission is maintaining financial stability. Central banks are focused on trying to ensure that the financial system functions properly, and in particular, they want to prevent, if possible, and if not, to mitigate the effects of a financial crisis or a financial panic.
Ben Bernanke
At any rate, if you wish to sift doubtful meanings of this kind, teach us that the happy man is not he whom the crowd deems happy, namely, he into whose coffers mighty sums have flowed, but he whose possessions are all in his soul, who is upright and exalted, who spurns inconstancy, who sees no man with whom he wishes to change places, who rates men only at their value as men, who takes Nature for his teacher, conforming to her laws and living as she commands, whom no violence can deprive of his possessions, who turns evil into good, is unerring in judgment, unshaken, unafraid, who may be moved by force but never moved to distraction, whom Fortune when she hurls at him with all her might the deadliest missile in her armoury, may graze, though rarely, but never wound.
Seneca
I forget what the relevant American rate is, but I can tell you that our goal is to have a combined federal-provincial corporate tax rate of no more than 25 percent. We're on target to do that by 2012. We will have significantly - by a significant margin the lowest corporate tax rates in the G-7, and that's our - our government's objective.
Stephen Harper
