When you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending.

We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.

When you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending.

Because the free market system is so weak politically, the forms of capitalism that are experienced in many countries are very far from the ideal. They are a corrupted version, in which powerful interests prevent competition from playing its natural, healthy role.

We have very stable, solid economy; we are going through challenging times.

Capitalism's biggest political enemies are not the firebrand trade unionists spewing vitriol against the system but the executives in pin-striped suits extolling the virtues of competitive markets with every breath while attempting to extinguish them with every action.

Let us remember that postponement of tapering is only that-a postponementLet's not lose the chance, the warning that we have been given, because this is going to come back and what we need to do is put our house in order before.