It defies common sense and lots of careful research to think that the highest-rated credit on the planet can borrow half a trillion dollars a year without pushing aside some private investment and ultimately hurting productivity growth.
More Quotes from Ed McKelvey:
We see sturdy hiring as a factor that continues to support U.S. economic growth.Ed McKelvey
Seen in this light, ... the employee discount program was an enormously successful marketing coup.
Ed McKelvey
Whenever you have a collapse in a particular output price -- and we certainly saw a lot of that following Asia's decline -- it places a lot of pressure on companies to deal with keeping their revenues up. In that context consolidation isn't a big surprise
Ed McKelvey
For example, the lowest-wealth quartile has no net worth on balance, while the next quartile has controlled only about 3 percent of the total, and the top 10 percent have held about two- thirds. These figures have changed little over the past decade, a fact that attests to the difficulty that many households have in accumulating wealth.
Ed McKelvey
Fed officials do not want to risk overreaction by the markets, ... This would undermine financial conditions at a time when the Fed needs growth to stay above its potential rate.
Ed McKelvey
The fiscal picture wasn't very good before and it's worse now.
Ed McKelvey
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When you stop having dreams and ideals - well, you might as well stop altogether.
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I had been involved in U.S. intelligence in Berlin, Germany, while in the military and had worked with a contact with the Central Intelligence Agency office there.
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Obviously, there has to be a profound change in direction. Otherwise, interest on the national debt will start eating up virtually every penny that we have.
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