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April 10, 2026
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"It was a global depression, had many causes, the whole story requires you to look at the whole international system. But policy errors in United States, as well as abroad, did play an important role. And in particular as I said, the Federal Reserve failed in this first challenge in both parts of its mission. It did not use monetary policy aggressively to prevent deflation and the collapse in the economy, so it failed in its economic stability function. And it didn't adequately perform its function as lender of last resort allowing many bank failures and a resulting contraction in credit and also with the money supply. So, in that respect, again, the Fed did not fulfill its intended mission."
"Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies."
"To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above."
"House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas."
"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."
"There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse."
"The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers."
"The stark truth about Ben Bernanke’s “historic” policy of global liquidity support was that it involved handing trillions of dollars in loans to that coterie of banks, their shareholders and their outrageously remunerated senior staff. Indeed, as we shall see, we can itemize precisely who got what. To compound the embarrassment, though the Fed is a national central bank, at least half the liquidity support it provided went to banks not headquartered in the United States, but located overwhelmingly in Europe. If in intellectual terms the crisis was a crisis of macroeconomics, if in practical terms it was a crisis of the conventional tools of monetary policy, it was by the same token a deep crisis of modern politics. However unprecedented and effective the Fed’s actions might have been, even for those politicians whose support for globalization was unfailing, its practical implications were barely speakable. Though it is hardly a secret that we inhabit a world dominated by business oligopolies, during the crisis and its aftermath this reality and its implications for the priorities of government stood nakedly exposed. It is an unpalatable and explosive truth that democratic politics on both sides of the Atlantic has choked on."
"For nearly eight years, Ben has led the Fed through some of the most daunting economic challenges of our lifetime. . . . [W]hen faced with a potential global economic meltdown, he has displayed tremendous courage and creativity. He took bold action that was needed to avert another Depression - helping us stop the free fall, stabilize financial markets, shore up our banks, get credit flowing again. And all this has made a profound difference in the lives of millions of Americans. . . . [Now] more families are able to afford their own home; more small businesses are able to get loans to expand and hire workers; more folks can pay their mortgages and their car loans. It’s meant more growth and more jobs."
"The only politician to be a rising star in three decades."
"at some point numbers do count."
"If we are to be a great democracy, we must all take an active role in our democracy. We must do democracy. That goes far beyond simply casting your vote. We must all actively champion the causes that ensure the common good."
"The world would not have had a Barack Obama or a Hillary Clinton if it had not been for my father's movement 40 years ago. To elect Senator Obama would be aproportion of that dream fulfilled. I believe we can do that if we elect the right leader."
"Brer Rabbit keep on axin' 'im, en de Tar-Baby, she keep on sayin' nothin', twel present'y Brer Rabbit draw back wid his fis', he did, en blip he tuck 'er side er de head. Right dar's whar he broke his merlasses jug. His fis' stuck, en he can't pull loose. De tar hilt 'im."
"The few contributions we have made to literature have not seemed to stem the tide of prejudice, nor have the efforts of Cable and Donelly changed the place in literature given to us by Mrs. Stowe, Joel Harris, Opie Reid. Nowhere do we find spread to the world’s gaze a work that portrays Afro-American life in its true likeness. Twenty-five years of freedom have furnished novel coloring and strange situations out of which to evolve a strong, vigorous sketch of Afro-American life at its best, and illustrate the genius which has dominated the rapid progress. The splendid mental and literary equipment of some of our finest scholars; the fragments of verse and prose of which we catch fleeting glimpses now and then, encourages the hope that from the race will yet come forth the masterpiece which, measured by the literature of the world, shall stamp its author a genius and at the same time elevate the Afro-American in literature."
"Once upon a time a Georgian printed a couple of books that attracted notice, but immediately it turned out that he was little more than an amanuensis for the local blacks--that his works were really the products, not of white Georgia, but of black Georgia. Writing afterward as a white man, he swiftly subsided into the fifth rank."
"Tater-vine growin’ w’ile you sleep."
"I seem to see before me the smiling faces of thousands of children some young and fresh and some wearing the friendly marks of age. But all children at heart and not an unfriendly face among them. And while I’m trying hard to speak the right word, I seem to hear a voice lifted above the rest saying you have made some of us happy. And so I feel my heart fluttering and my lips trembling, and I have to bow silently and turn away and hurry back into the obscurity that fits me best."
"Youk'n hide de fier, but w'at you gwine do wid de smoke?"
"Hungry rooster don't cackle w'en he fine a wum."
"Licker talks mighty loud w'en it gits loose from de jug."
"Jay-bird don't rob his own nes'."
"Lazy fokes's stummucks don't git tired."
"Ez soshubble ez a baskit er kittens."
"'I don't keer w'at you do wid me, Brer Fox,' sezee, 'so you don't fling me in dat brier-patch. Roas' me, Brer Fox' sezee, 'but don't fling me in dat brier-patch,' sezee."
"Brer Fox, he lay low."
"In the music of the morns Blown through the Conchimarian horns, Down the dark vistas of the reboantic Norns, To the Genius of Eternity Crying, “Come to me! Come to me!”"
"As the diamond is the crystalline Revelator of the achromatic white light of Heaven, so is a perfect poem the crystalline revelation of the Divine Idea."
"As an egg, when broken, never Can be mended, but must ever Be the same crushed egg for ever— So shall this dark heart of mine!"
"On the beryl-rimmed rebecs of Ruby Brought fresh from the hyaline streams, She played on the banks of the Yuba Such songs as she heard in her dreams."
"Many mellow Cydonian suckets Sweet apples, anthosmial, divine, From the ruby-rimmed beryline buckets Star-gemmed, lily-shaped, hyaline; Like the sweet golden goblet found growing On the wild emerald cucumber-tree, Rich, brilliant, like chrysophrase glowing Was my beautiful Rosalie Lee."
"I know all the songs that the cowboys know 'bout the big corral where the doggies go, 'Cause I learned them all on the radio. Yippie yi yo kayah"
"There's a long goodbye, and it happens every day, when a passerby invites your eye to come away. Even as you smile a quick hello you let her go, you let the moment fly... Too late you turn your head, you know you've said the Long Goodbye."
"The days of wine and roses laugh and run away like a child at play Through the meadow land toward a closing door A door marked "nevermore" that wasn't there before"
"Cigarette holder, which wigs me, over her shoulder she digs me: Out cattin' that Satin Doll."
"Shine little glow-worm, glimmer, glimmer. Shine little glow-worm, glimmer, glimmer. Lead us lest too far we wander. Love's sweet voice is calling yonder."
"You got to ac-cent-tchu-ate the positive E-lim-i-nate the negative And latch on to the affirmative. Don't mess with mister inbetween."
"Skylark, Have you seen a valley green with Spring Where my heart can go a-journeying, Over the shadows in the rain To a blossom covered lane? And in your lonely flight, Haven't you heard the music in the night, Wonderful music, Faint as a will-o-the-wisp, Crazy as a loon, Sad as a gypsy serenading the moon."
"When my life is through And the angels ask me to recall The thrill of them all Then I shall tell them I remember you"
"I remember too, a distant bell... and stars that fell... like the rain out of the blue."
"From Natchez to Mobile, from Memphis to St. Joe, wherever the four winds blow I been in some big towns an' heard me some big talk, but there is one thing I know A woman's a two-face, a worrisome thing who'll leave ya to sing the blues in the night."
"So you met someone who set you back on your heels - goody, goody You met someone and now you know how it feels - goody, goody"
"[My] publicity agent … went to hear Father Divine and he had a sermon and his subject was 'you got to accentuate the positive and eliminate the negative.' And I said 'Wow, that's a colorful phrase!'"
"When I return-as soon I will-to those who sent me here, and shall be asked of what I had seen at Washington-and what it was that most engaged the attention of the Representatives of a great people, and what of good had been done for the country, the answer must be, so far as our action is concerned, that day by day, week after week, and month after month before the election, the chief business of all parties was the creation of political capital upon which to draw in the then coming presidential campaign; and that after the election, there seemed to be no greater object of interest than the establishment of the fact, that if not cheated in sending us here, the people were green enough to be swindled afterwards. Yes, sir; the whole of them, Democrats, Republicans, and Know-Nothings."
"Gentlemen of the House of Representatives: Satisfied that at this late hour, you will be more pleased to hear of your formal dissolution than of any thing else which could be uttered and as the time fixed by the Constitution for the duration of your session is about to expire, I announce the this House now stands adjourned."
"I didn't fight this fight for the blacks, the whites or the Spanish, I fought the fight for the people. We're all God's children. I don't see color. I'm not a racist When I look at Gerry Cooney, I just see a man trying to take my head off."
"I achieved something once again, I think we all want to put a mark on life. I dream, and my dreams always come true. I dreamed I was the heavyweight champion of the world. I am the heavyweight champion of the world."
"When you constantly hear people talking about going the distance, going the distance, you can't help but wonder about it. I learned a lesson: next time I will fight my fight without that doubt."
"Joe Louis was a good Heavyweight, good boxer but he was kind of in the same boat as Marciano, weighing about 190 to 200 lbs."
"It wasn't about Larry Holmes, if I would have fought a brother I wouldn't have gotten the money I got. Give me 10 black guys and I make eight dollars. Give me Gerry Cooney and I make $10 million."