It's important to remember how fortunate we are as a country to have a currency and a bond market that is seen in every way as a source of strength and it's a huge responsibility for us to keep it that way.

In politics, as in poetry, it is sometimes true that it is darkest before dawn.

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today.

It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets.

Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today. Our prosperity is linked inextricably to the maintenance of a strong world economy, an open international trading system, and stable global financial markets.

Contagion has become very much a phenomenon, and it's a phenomenon of globalization.