A Quote by Lawrence Summers
Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
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The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.
When we're talking about the "American response" to any disaster, it's not just a government response, an official response, it's a popular response.
As you interact with others, remember this: anytime a person's response is larger than the issue at hand, the response is almost always about something else.
In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.
The rich believe that they're different and that it is their right to pay a much lower tax rate. The response that you see from people on Wall Street, their dismissal and their almost contempt for the concerns about their culpability in the financial crisis, about the income inequality, shows that they are completely out of touch.
Your mind, in order to defend itself starts to give life to inanimate objects. When that happens it solves the problem of stimulus and response because literally if you're by yourself you lose the element of stimulus and response. Somebody asks a question, you give a response. So, when you lose the stimulus and response, what I connected to is that you actually create all the stimulus and response.
Of all questions, why? is the least pertinent. It begs the question; it assumes the larger part of its own response; to wit, that a sensible response exists.
I want to thank the Greek people publicly for their humanitarian response to the crisis of so many migrants and refugees seeking safety in Europe. Greeks, especially on the islands, have shown extraordinary compassion and they've rightly earned the admiration of the world.
Almost no one will accept responsibility for his or her role in precipitating a crisis: not leveraged speculators, not willfully blind leaders of financial institutions, and certainly not regulators, government officials, ratings agencies or politicians.
There is always the working out of things, and you have to have sort of a gut response to it. And an intellectual response. And an aesthetic response. All that comes from having done this for a long time. Instead of saying, "That's a really good rock track, and that will do," I'm looking for something that is more original and fresh. There are a lot of elements to get into it: a level or sophistication, passion and excitement.
I think that honesty in presenting the gospel goes out the window when you want people to respond to the message, but you are prepared to accept any sort of response. Of course, the only true response is heartfelt repentance and faith. However, if you don't feel the need to be honest in your presentation, then you will calibrate your presentation of the gospel to whatever gets the response you want.
Now, the United States' response, the western response to this is a continuation of the appeasement that was started back in the '50s with Eisenhower when Iran seized western oil companies. The Americans, the British, and the Israelis, as I remember, launched an attack to try to reclaim it and - or at least the British and the Israelis did and Eisenhower vetoed it.
Fear is the wrong response to technological unemployment. Focusing on economic flexibility and adaptability - with special attention to eliminating the barriers we've accidentally created to the mobility of the working classes - is the right response to technological disruption.
The response to war is to live like brothers and sisters. The response to injustice is to share. The response to despair is a limitless trust and hope. The response to prejudice and hatred is forgiveness. To work for community is to work for humanity. To work for peace is to work for a true political solution; it is to work for the Kingdom of God. It is to work to enable every one to live and taste the secret joys of the human person united to the eternal.
I'm always in favor of Israel responding strongly when it's threatened. At the same time, a response to a response doesn't really solve anything. It just creates a perpetual-motion machine.
We are having a public health response to this epidemic of prescription opioids. We are looking at treatment options, there are drugs being made available for treatments, and we aren't just throwing people in prison. So this is a very different response than the traditional criminal justice response that we have had to past drug epidemics.
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