A Quote by Ben Bernanke
To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals.
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What private property does is connect effort to reward, creating an incentive for people to produce for more. Then, if there's a free market, people will trade their surpluses to others for the things they lack. Mutual exchange for mutual benefit makes the community richer.
If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
We need economic growth in Europe and we need to find a solution for the excessive interest rates that are making it difficult for many countries to get their own debt under control.
If a trade deficit is determined solely by rates of savings and investment, then the U.S. trade deficit will be impervious to a get-tough trade policy. Slapping higher tariffs on imports will only deprive foreigners of the dollars they would have earned by selling in the U.S. market.
To set us on the right course we need to create more opportunities for trade, particularly in developing countries, and we need to adjust global trade rules to better meet the needs of entrepreneurs in the 21st century.
It is a law of nature that everything run by the government will get more expensive and worse over time. Everything run by the private sector will get better and cheaper over time. The fact that [Obamacare] starts this badly does not bode well....We want healthcare run on the same system that gave us cell phones, flat screens, Jerry Garcia chia pets. Everything you submit to the free market...keeps getting better and better.
Skyrocketing insurance premiums are debilitating our Nation's health care delivery system and liability insurers are either leaving the market or raising rates to excessive levels.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
The United States is the least protectionist country in the world but has the largest trade deficit, while other countries are highly protectionist and have huge trade surpluses. This cannot continue.
Our system works. Over time, people will live better and better. We have a system that unleashes human potential, and now China has a system that unleashes human potential. We will have interruptions. We overshoot and undershoot sometimes, but your kids and grandkids will live better than you. Over time, we move ahead at a pretty damn rapid rate.
We allow it to be dumped into this community asset, which is our one and only atmosphere. So that has to change, and there's really only one entity that can do that. So we have proposed a cap-and-trade system to stop that unlimited pollution, to use the forces of the market to efficiently allocate scarce permits to allow CO2 into the atmosphere. That's just one of 500 things we need to do, but it's probably the granddaddy of them all.
At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses.
I contend that financial markets never reflect the underlying reality accurately; they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.
International order is not an evolution; it is an imposition. It is the domination of one vision over others- in this case, the domination of liberal free market principles of economics, democratic principles of politics, and a peaceful international system over other visions that other nations and peoples may have. It will last only as long as those who favor it retain the capacity to defend it.
The film business is just one of our verticals. We have wanted for some time to make inroads into the English language market, because I think that over time such films can cross over into the international market.
Trade wars arent started by countries appealing to respected, independent trade authorities. Rather, trade wars begin when one country decides to violate international trade rules to undercut another countrys industries.
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