The Lesson Of History Is That You

I Think One Of The Lessons Of The Depression - And This Is Something That Franklin Roosevelt Demonstrated - Was That When Orthodoxy Fails, Then You Need To Try New Things. And He Was Very Willing To Try Unorthodox Approaches When The Orthodox Approach Had Shown That It Was Not Adequate.

A Collapse In U.s. Stock Prices Certainly Would Cause A Lot Of White Knuckles On Wall Street. But What Effect Would It Have On The Broader U.s. Economy? If Wall Street Crashes, Does Main Street Follow? Not Necessarily.

The Economist John Maynard Keynes Said That In The Long Run, We Are All Dead. If He Were Around Today He Might Say That, In The Long Run, We Are All On Social Security And Medicare.

Under A Cold Turkey Strategy, At Each Policy Meeting The Federal Open Market Committee Would Make Its Best Guess About Where It Ultimately Wants The Funds Rate To Be And Would Move To That Rate In A Single Step.

Investment Banks Manage To Go Bankrupt Through Their Investment-banking Activities, Commercial Banks Manage To Go Bankrupt Through Their Commercial-banking Activities.