The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.
Any substantial tax reform would involve substantial redistributions of tax burdens and substantial changes in asset values, and you need some 'lubrication' (i.e., transition rules).
And, frankly, what happens out of Washington is, it creates a wind in my face, uncertainty over Obamacare, uncertainty over their tax policy, uncertainty over the regulatory policy.
The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.
Moving fashion used to be one of my chief goals. It's not necessarily any more. Fashion needs to change when life changes. You only need to move fashion forward when there's a reason to move fashion forward.
My own view is that only under very limited circumstances, and on a case-by-case basis, should we make advance policy decisions to artificially minimize information or censor it from the public's view.
You have to keep building. Movements have to move forward.
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
Fashion is like life. It needs fear and uncertainty if you are to move forward.
Even though it is the case that poverty is linked to AIDS, in the sense that Africa is poor and they have a lot of AIDS, it's not necessarily the case that improving poverty - at least in the short run, that improving exports and improving development - it's not necessarily the case that that's going to lead to a decline in HIV prevalence.
Stephen Miller is from Santa Monica. He was educated I believe at Duke. He has worked for Jeff Sessions. He's in his thirties and he's brilliant. He is literally brilliant. He is one of the - if not the - best spokesmen that the Donald Trump administration can roll out to make the case for whatever policy positions they're trying to advance. He can make the case ideologically. He can make the case in common sense.
So I think that our foreign policy, the president's strong and principled leadership when it comes to the war against terror and foreign policy is going to be an asset.
Snowden has presented us with choices on how we want to move forward into the future. We're at a crossroads and we still don't quite know which path we're going to take. Without Snowden, just about everyone would still be in the dark about the amount of information the government is collecting. I think that Snowden has changed consciousness about the dangers of surveillance.
The diversity of our cultures is Europe's greatest asset. We have to preserve this asset. And any political intervention that reduces this diversity is a loss to Europe.
If
you're an investor, you're looking on what the asset is going to do, if
you're a speculator, you're commonly focusing on what the price of the
object is going to do, and that's not our game.
In our administration, we're going to follow the law, and any policy that we move forward will fall well within the law and the Arizona Constitution.