"But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries."
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."Martin Feldstein on Henry Ford
"Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones."Martin Feldstein on Benjamin Franklin
"It is a kind of spiritual snobbery that makes people think they can be happy without money."Martin Feldstein on Albert Camus
"Part of your heritage in this society is the opportunity to become financially independent."Martin Feldstein on Jim Rohn
"Don't gamble take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it."Martin Feldstein on Will Rogers
"A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output."
"The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit."
"To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world."
"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."
"A second reason why science cannot replace judgement is the behavior of financial markets."
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