We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
Individualism has come in for an enormous amount of criticism over the years. It still does. It is widely assumed to be synonymous with selfishness...But the main reason why so many people in power have always disliked individualism is because it is individualists who are ever keenest to prevent the abuse of authority.
Death can only be profitable: there's no need to eat, drink, pay taxes, offend people, and since a person lies in a grave for hundreds or thousands of years, if you count it up the profit turns out to be enormous.
I met an American lady many years ago, much distant. Then I told her about my own difficult experiences and I showed some genuine concern. She responded, "Why are you so concerned about me?" We need more patience. At a fundamental level, we are the same human brothers and sisters. Then forget it. The human mind is very strange. Like that.
I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
Annihilation has no terrors for me, because I have already tried it before I was born --a hundred million years --and I have suffered more in an hour, in this life, than I remember to have suffered in the whole hundred million years put together.
At any rate, let us love for a while, for a year or so, you and me. That's a form of divine drunkenness that we can all try. There are only diamonds in the whole world, diamonds and perhaps the shabby gift of disillusion.
I was pretty realistic to people about what we could get done, and the situation we were in, and trying to tamp down expectations. If you listen to my stump speeches, if you listen to what I said at Grant Park, I kept on saying, "Look, this is not just about me, this is not going to happen in one year, or one term, or even one presidency." And we tried to layer into everything we were saying a sense of hope, but also realism.
With respect to Syria, we are going to continue to work as we have over the last five, six years to push towards a political transition and settlement.
We right now give $15 billion every year as subsidies to private insurers under the Medicare system. Doesn't work any better through the private insurers. They just skim off $15 billion.