The Ledger, every show

“I can assure you that your experience is not the experience of quite a number of the nation's major law firms. It is not the experience of quite a number of the nation's business leaders. It is not the experience of quite a number of the nation's universities …”

“I believe very strongly that by undermining the rule of law, On which contracts exchange and property depend by alienating the rest of the world and by pitting some groups of Americans against other groups of Americans and devaluing the idea of unity and commo…”

“And what you get is a loss in the 30 trillion dollar range as the present value as estimated by markets of what's being done.”

“I do believe that it is fundamentally not new under the sun, just new in America. That it is the Juan Perón approach, which is very familiar to students of Latin American history in particular, and that the general experience of that approach is that its leade…”

“My own view, and I've said this many times, is that what Samuel Johnson said about second marriage is true about soft landings. They represent the triumph of hope over experience, and I don't think we're likely to be able to bring inflation down to its target …”

“Increases in tariffs of this magnitude, the overwhelming part of them will be passed on to consumers.”

“We are trading like an emerging market country right now.”

“Maybe we're seeing a pattern that really looks, that looks pretty much like the Argentine pattern.”

“We had given them MFN status 15 years before. No one. They had MFN status. They had it for 15 years. There was not a single reduction in a barrier to Chinese trade. So the way in which you're describing it is just, bears no resemblance to what it was.”

“If President Trump had announced a big broadening of anti-dumping law to confront a variety of instances of what he, what the administration, after careful economic analysis, saw as inappropriate subsidy, I might or might not have thought that they were doing …”

“I cannot make any linkage between a 10% across the board tariff, a tariff on steel, A tariff on auto, on automobiles, and much of what the rest of the president says, and your very valid objectives.”

“My belief is that the revenue loss from the Doge's destruction of Significant part of the functioning of our nation's tax collection system is likely to exceed in terms of contributing more to the deficit than any savings that it successfully realizes.”

“I think there's a larger probably risk that we don't really have inflation on a secure path down below three and a half, and that the Fed thinks it's got it under control, and it doesn't. And it's gonna have to go back to, ah, raising, ah, rates.”

“Whatever the right way to think about this was, 40 years ago, the time for legacy admissions is over.”

“Some of that is the speakers who get disinvited, and that's terrible, but much more of it is a culture that there are only certain views you're allowed to have on Questions about identity. That there are only certain quest views you're allowed to have on quest…”

“It's a joke, but not without some element of truth to say that Europe's a museum, Japan's a nursing home, China's a jail, and Bitcoin's an experiment.”

“Unfortunately, I'm not sure that's that large a part of the crypto ecosystem. When the ecosystem is fueling speculation, or when the objective is the circumvention of legitimate government regulation or tax obligations, that's where I become more skeptical abo…”

“So I think it is much better to analyze Inequality in terms of the fundamental forces of technology and globalization than it is in terms of any kind of inherent cultural contradiction of capitalism.”

“Canceling the Keystone Pipeline was a clear mistake. I thought the stopping a variety of things involving liquid natural gas were a clear mistake. So I think the Biden administration's approach to regulation that empowered every NGO with respect to stopping tr…”

“There's never been a time when inflation was above four and unemployment was below four and the U.S. Economy didn't go into recession before that situation was resolved.”

“It's a mistake To think whenever anybody makes a judgment that doesn't turn out right in Washington, that it's because they had some bad political motive and were playing politics, rather than they were using their best judgment and they turned out to be wrong…”

“I think people obviously made bad decisions and they kept making them and they made them too long and I was on the other side.”

“But I'd rather be playing the hand of the United States than the hand that Xi Jinping is playing, than the hand that India is playing. Certainly than the hand that societies in Asia where they're only going to be half as many people a century from now are play…”

“The government's finances are not on a sustainable path and won't be on a sustainable path until we figure out how to raise the revenue that a society facing grave national security threats and aging population and a rising price of medical care and education …”

“And that is a embarrassment that the grade point average of the average student at Harvard University is above 3.7.”

“I would have recognized that Very substantially excess demand was developing. I would have moved to signal my awareness of that and to start putting my foot on the brakes much sooner than they did, and certainly as inflation was rising, as we were having a rec…”

“Part of the reason why inflation accelerated through much of twenty-twenty-two was that it was still being spent in twenty-twenty-two, and some of it is still going to be spent in twenty-twenty-three, and that's part of why the economy has seemed so strong, ev…”

“Ultimately we are on an unsustainable path. And my view is that we're going to have to raise revenues quite substantially because I don't think there's going to be a lot of scope For cutting spending, given the way in which our population is aging, given the w…”

“I am not someone who believes we should have a wealth tax. I am not someone who believes we should soak the rich. I am somebody who believes in creating opportunity rather than going to war with inequality”

“So if we don't make grave mistakes, I think the dollar's gonna remain the world's reserve currency.”

“That there are laws and regularities in economics and social science Just like there are in physical or biological science that cannot be suspended for political convenience. If you print too much money, you will have too much inflation. If you control prices,…”

“The way to hit the poorest parts of society hardest is to not manage inflation. You and I can configure our financial affairs so we're hedged against inflation. We may even, by borrowing money, Be able to be beneficiaries of inflation as we pay it back in chea…”

“I don't find his theory of the contradictions implicit in capitalism. And his theory of where the well, why wealth is rising at this rate to be a terribly convincing one.”

“The data are very dramatic that the gaps in life expectancy between the top 10% of the population and the bottom 10% of the population have widened massively.”

“Have you looked at the data on export flows from the United States to China? It actually did happen at a quite substantial rate.”

“That's the largest, boldest thing the United States has ever done to avoid dependence and in a national security area.”

“Factually, less than a quarter of people with incomes over ten million dollars are audited.”

“Inflation was never on an underlying basis anything like eight or nine. It was like five artificially pushed up by used cars and airline fares and a bunch of stuff like that gasoline. And the thing about stuff that mean reverts is that it mean reverts. And so …”

“I think the Fed should be recognizing that the extraordinary size of the U.S. Budget deficit And where it is in prospect is gonna complicate the macro policy task and should be more willing to call that out, ah, than it is.”

“I think the Fed on matters relating to financial regulation should be giving more attention to market prices and the market values of assets. And less to a variety of book value regulatory concepts than it tends to emphasize.”

“If there had not been major regulation that was regarded as oppressive, totalitarian, wrong, and anti-market, beginning in the late 19 forties, it would be impossible for this gathering to exist because the smog in Los Angeles would be so profoundly serious.”

“We used to be a country, 60 years ago, where four percent of men between 25 and 54 were not working, and now we're a country where 14% are not working at any point in time, and a quarter of them don't work for more than three months Almost within a two year pe…”

“It has a lot of good things for most of the people in this room that there exists early decision and early action. But it basically works to help the privileged. And it basically prevents the underprivileged, less privileged, from shopping their financial aid …”

“So I think the dollar has a lot of the kind of advantages that the English language has. It's right now kind of where everybody else is, and so that makes it where everybody wants to be.”

“I certainly don't think we should be putting any arbitrary ceiling on the level of government spending, given the magnitude of both national security needs in our country and social needs in our country.”

“We have a gap between taxes that are owed, that everybody agrees are owed under the current law, and taxes actually collected that will total eight trillion dollars over the next 10 years.”

“I participate in funds, so I'm a beneficiary as well, but it's wrong.”

“And the number of babies born in China has fallen by just about half in the last six years.”