A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output. – Martin Feldstein
And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets. – Martin Feldstein
A second reason why science cannot replace judgement is the behavior of financial markets. – Martin Feldstein
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world. – Martin Feldstein
If you think dope is for kicks and for thrills, youre out of your mind. There are more kicks to be had in a good case of paralytic polio or by living in an iron lung. If you think you need stuff to play music or sing, youre crazy. It can fix you so you cant play nothing or sing nothing. – Billie Holiday