Warren Bailey Quotations

There are a lot of people struggling, thinking that they need to do this and be involved in the new economy, and they have no idea what they are doing. That's all par for the course, and part of the normal process of any capitalist-driven economy. It's unfortunate, but it's reality -- shake out those that can't from those that can.

Anything the central bank buys constitutes an asset and allows it to expand its liability of money supply.

Ten or 15 years ago the IMF and the World Bank were out there making little loans here and there, but they weren't out saving the world. They've been unfairly criticized of doing a bad job.

If you look at the fundamentals of our economy -- is it mean, lean and flexible, does it have right ideas about how to produce -- all the good stuff is there.

The good news is, this is a system where you can be caught out and be punished.

We're not taking a clean coin and flipping it over and over again.

Each business cycle is different. We can't compare this to some expansion that occurred in 1964. We literally don't have enough data.

If people are depressed and scared, as they have been in Japan, there are limits to monetary policy. It comes down to people making personal decisions.

You want to grow as fast as possible, but when you do that the ups and downs are huge. If the government contracts the economy in advance in a mild way, that makes those ups and downs less onerous, and spares us a lot more pain down the road. That's why they're raising rates.

It's not that the Fed is trying to break up the party, it's that they're trying to keep it under control so there's enough to go around for everyone. Inflation is a signal that we are running out of some kind of resource.