“Savings, remember, is the prerequisite of investment.”

“Thus, increases in interest rates matter greatly for the economy as a whole. They not only cause direct reductions in investment spending and interest-sensitive consumption spending (the main intent of restrictive monetary policy), but they also may reduce aggregate demand indirectly through their impact on asset prices.”

“... economists recognize that, other things equal, cuts in tax rates reduce tax revenues in percentage terms by less than the tax-rate reductions. Similarly, tax-rate increases do not raise tax revenues by as much in percentage terms as the tax-rate increases. This is true because changes in marginal tax rates alter taxpayer behavior and thus affect taxable income.”

“... economic growth is driven by supply factors such as improved technologies and access to more or better resources.”

“Remember the 11th commandment. Thou shalt not take thyself to damn seriously.”

“A blanket attempt to avoid mistakes is the biggest mistake of all.”

“Heuristic is an algorithm in a clown suit. It’s less predictable, it’s more fun, and it comes without a 30-day, money-back guarantee.”