If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.
We create these boom-bust cycles by manipulating the money supply and the interest rates and directing it where it went in. And that is what happened with housing: pushed into housing combination of easy money plus all the regulations, and we created this boom-bust cycle, and corruption, because corruption goes with it, because you don't have the same discipline. So we've got to stop all that.
Though the poorest Americans voted for Hillary Clinton, many relatively wealthy people voted for Trump and generally it's a mistake to think that economics explains Trump. The US is doing relatively well, the economy has significantly recovered since 2008, unemployment rates are low. I would say rather that his appeal to the working class was cultural: "I'll bring back the kinds of jobs your fathers had," and, by implication, the whiter, simpler post-war world when America had no real economic competition.
You have to see the stories [The New York Times] have written, it's one after another, after another, and facts mean nothing, third-rate journalism. The great editors of the past from the New York Times and others, ladies and gentlemen, are spinning in their grave.
In most industries, technological change is happening at a rapid rate.
An overheating economy, characterized by accelerating inflation and rising interest rates, is another precondition for recession. This doesn't describe today's economy.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
For reasons that have stunningly little to do with crime or crime rates, we, as a nation, have chosen to lock up more than two million people behind bars. Millions more are on probation or parole, or branded felons for life and thus locked into a permanent second-class status.
Nationwide, 1 in 3 black men can expect to serve time behind bars, but the rates are far higher in segregated and impoverished black communities.
The United States does have the highest rate of incarceration in the world dwarfing the rates of even highly repressive regimes like Russia, China or Iran. This reflects a radical shift in criminal justice policy, a stunning development that virtually no one - not even the best criminologists - predicted forty years ago.
Most criminologists today will acknowledge that crime rates and incarceration rates in the United States have had relatively little to do with each other.
Incarceration rates - especially black incarceration rates - have soared regardless of whether crime has been going up or down in any given community or the nation as a whole.
Plague has hung over human history. The biggest human extinction was after 1492 in North and South America when the mortality rate was 95 per cent, which is enormous. But again, I'm actually giving you grounds for optimism: There were enough to continue. The five per cent who made it through are what you need to survive a bottleneck, which we have been through before.
Millions of people are unable to vote due to felony convictions with the highest rates among black men. People in prison are denied the right to vote in 48 states, and while we accept that as normal in the United States, in other western democracies people in prison do have the right to vote.
When I walk, I try to set a fairly brisk rate. I love walking outside. I hate machines like treadmills. The path that I have chosen to walk is just city streets, but you see pretty houses, trees... my routes have some hills in them; it's not just straight walking. You have to exercise your heart and lungs.
Even in areas like the most depressed region of India in terms of female education, namely Rajasthan, which has [one of] the lowest female literacy [rates] in India. Even there, 80 to 90 percent of the parents would like their girls to go to school. And indeed, about 80 percent would like them to be made compulsory.
There is no evolutionary pressure to create minds capable of forming sciences; it just happened. Evolutionary pressure has not led to higher rates of reproduction for people capable of solving scientific problems or creating new scientific ideas. So if, in fact, the science-forming capacities evolved for other reasons, it would not be too surprising if those particular structures that have developed proved to be rather special in their nature, reflecting the contingencies of their evolution or the working of physical law.
China is the center of the Asian energy security grid, which includes the Central Asian states and Russia. India is also hovering around the edge, South Korea is involved, and Iran is an associate member of some kind. If the Middle East oil resources around the Gulf, which are the main ones in the world, if they link up to the Asian grid, the United States is really a second-rate power. A lot is at stake in not withdrawing from Iraq.
A huge amount of what feminists are fighting for would have major positive impact for men as well as women. Take the male suicide rate, for example. In part, the problem arises from the idea that men are tough and manly, that 'boys don't cry' and it's embarrassing for them to talk about their feelings. So men are less likely to reach out for help and support with mental health issues. But that gender stereotype, which exists alongside the converse notion that women are over-emotional, 'hysterical', or 'hormonal', is one feminists are fighting hard to debunk.
The unemployment rate today for people with our-year college degrees is 4.1%, which is almost none. That's people switching jobs basically. That tells you that education is the only way up and the only way out. If that is the fact, then we've got to get more of it for more people.
From the Million Man March to this day, the crime and murder rates have significantly decreased in the major cities of America, according to police reports. I believe that the Million Man March was a significant part of the reason for the decrease.
I am a child of the digital revolution. So what I love about digital content is the quick turnover rate.
Venture capital has peaked in terms of its appetite, in terms of how much money it wants to put in. So now private equity funds are piling in. Primarily because interest rates are virtually zero so there's no fixed income play and they're not moving around.
We live in a global market and money's fungible and hedge fund private equity is looking for momentum plays, and there ain't no momentum plays in bonds, right? When the interest rates were spiking up or down, well they never really spike down they do spike up though. Something's got to happen, there's got to be motion, the dice has to be rolling on the board, and if it's not then they're not going to play because they're not going to get the adrenaline rush from looking at... you know, money markets fund interest rates or bond interests or whatever. It's got to be sexy.
The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that is, interest rates. It also plays a key role in supervising banks and historically has seemed to take it easy on the banks when it shouldn't have, such as in the lead up to the financial crisis.
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