Any Informed Borrower Is Simply

While Local Economies May Experience Significant Price Imbalances, A National Severe Price Distortion Seems Most Unlikely In The United States, Given Its Size And Diversity.

These Days, Even Out Of Office, I Still Read Economic Reports.

By Far The Most Significant Event In Finance During The Past Decade Has Been The Extraordinary Development And Expansion Of Financial Derivatives.

I Have One Other Issue I'd Like To Throw On The Table. I Hesitate To Do It, But Let Me Tell You Some Of The Issues That Are Involved Here. If We Are Dealing With Psychology, Then The Thermometers One Uses To Measure It Have An Effect. I Was Raising The Question On The Side With Governor Mullins Of What Would Happen If The Treasury Sold A Little Gold In This Market. There's An Interesting Question Here Because If The Gold Price Broke In That Context, The Thermometer Would Not Be Just A Measuring Tool. It Would Basically Affect The Underlying Psychology.

Productivity Is Notoriously Difficult To Predict.