?America?s colleges and universities churn out lots of liberal arts graduates?.By and large, the economy doesn?t need all these generals. We?re not training enough scientists and engineers. The high schools used to churn out enough people with technical skills in the fifties and sixties, but not so today. It?s cheaper just to prepare everyone to go to college and pretend that a liberal arts education is going to solve everyone?s problems,? said Professor Peter Morici at the University Of Maryland School Of Business.
?A strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases,? said my friend, Federal Reserve governor nominee, Janet Yellen.
We have been pretending that we?re too big to fail. We?re not too big to fail, you can jump off of a 90 story building and feel fine for the first 89 stories. It?s the sudden stop at the end that tells you you?re not.? said Tom Friedman, a New York Times columnist and author of Hot, Flat and Crowded.
?Wow! So Goldman Sachs thinks this the Tablet is going to sell. I have the perfect Tablet. It is made out of steel and is powered by coal,? said Zachary Karabell, President of River Twice Research.
?Everyone has got to re examine their theories here,? said Federal Reserve Bank of St. Louis president, James Bullard, about the failure of inflation to appear after five years of quantitative easing.
I played clarinet next to Stan Getz for years, and he became convinced that I was going to become an economist,? said Alan Greenspan, former chairman of the Federal Reserve.
?Those near 10% annualized yields in stocks and bonds are a thing of the past,? said Bill Gross, the managing direct and co-chief investment officer of the Newport Beach, CA based bond giant, PIMCO.
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