A Quote by Jan Hatzius
Biggest pent-up negative wealth effect you can see in the economic data going back to 1952.
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Suddenly absurdism wasn’t an intellectual abstraction, it was actually realism. You could see the way that wealth was begetting wealth, wealth was begetting comfort — and that the cumulative effect of an absence of wealth was the erosion of grace.
The likely economic effects [of the war in Iraq] would be relatively small... Under every plausible scenario, the negative effect will be quite small relative to the economic benefits.
The police pull up in back of my car and run my plates - they don't see you as you are; they see you through a racialized negative gaze. I think the best thing is not to internalize it too much, or it'll make you crazy because you know it's going to happen again.
Nothing is going to stay the same; nothing's gonna sound like in 1952. There's some stuff that has some elements of back in the day, like back in the 90's, back in the 80's or whatever. Some elements, but it's not going to be the same, exactly, sounding. And I love it, I've seen the music change. I've seen the flow and the energy go from turned up to turned down to back to turned up. I like to try different stuff. I don't like to do the same old thing over and over again. I don't like to be repetitive, that gets on my nerves.
The biggest mistake is an over-reliance on data. Managers will say if there are no data they can take no action. However, data only exist about the past. By the time data become conclusive, it is too late to take actions based on those conclusions.
Not going back is fine. Not going back but occasionally visiting might be best. Not going back but remembering so you don’t see the same view twice. Not going back so you can turn a new page, write a new chapter, develop an entire new list. Not going back so you can stretch and grow and see yourself in a light that you never knew existed. Not going back so that you can fly. Fly.
We need a dialogue with the Iranians, and it is going to take both carrots and sticks. We employed very tough economic sanctions, and they are having an effect. But we also have to give the Iranians an idea of what the economic and cooperative possibilities would be if they did give up their quest for a nuclear weapon.
All the little things add up. Whether they were positive or negative, eventually you either see the amazing result or the biggest let down.
So the stock market could have a negative wealth effect and weigh on capital spending, but a sharp decline in long-term interest rates would be an important counterweight.
If you fall-and trust me, you will- make sure you fall on your back. Because if you fall on your back, you can see up. And if you can see up, you can get up. And you can keep going and going and going.
Negative interest rates hurt banks' balance sheets, with the 'wealth effect' on banks overwhelming the small increase in incentives to lend.
Disruptive technology is a theory. It says this will happen and this is why; it's a statement of cause and effect. In our teaching we have so exalted the virtues of data-driven decision making that in many ways we condemn managers only to be able to take action after the data is clear and the game is over. In many ways a good theory is more accurate than data. It allows you to see into the future more clearly.
I promoted Hyderabad to the world by saying that there was privacy in India and their data will be sage. Data is wealth.
White Americans must be made to understand the basic motives underlying Negro demonstrations. Many pent-up resentments and latent frustrations are boiling inside the Negro, and he must release them. It is not a threat but a fact of history that if an oppressed people's pent-up emotions are not nonviolently released, they will be violently released.
Rob Engle and I are concerned with extracting useful implications from economic data, and so the properties of the data are of particular importance.
You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth - and that future wealth is less likely to be produced when people see that it is going to be confiscated.
