This is my year of transition from what I'm calling the second phase of my life to the third phase of my life. And I wanted to pass it along. What I mean by that is, in the first days of your life you're dependent on others and you learn. You're basically a kid, depending on your parents. In the second phase of your life, you're working and others are dependent on you and you're trying to be successful. And then when you go to the third phase of your life it's no longer as much of a kick to be successful. There's a natural, instinctual desire to help other people be successful.

Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.

I'd like to be clear that a number of people find me intolerable, and they don't hesitate to say so - which they and I cherish.

The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it's silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).

When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation's lower than expected, bonds go up.

To test if you are worrying too much about looking good, observe how you feel when you find out you've made a mistake or don't know something.

Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?