However, even a strong government can't perform miracles. It needs money from the taxpayers.

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

Studying economics is not a good preparation for dealing with it.

As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.

The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.

Markets can influence the events that they anticipate.

Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.