Deflation and secular stagnation are the risks of our time.

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.

You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.

Most investors want to do today what they should have done yesterday.

The only antidote to dangerous ideas is strong alternatives vigorously advocated.

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.

With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.