We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households.
There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.
It's a market economy. Apparently the demand for great coaches exceeds the supply, so of course the price of good coaches is going to be high.
Since achieving their independence in 1992, the people of Croatia have built a democratic society based on the rule of law, respect for human rights, and a free market economy.
In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest of the world, particularly with the other East Asian economies.
Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether such differences are sufficient for the economy to reach the sustained growth path.
We expect that in the next years, the economy will improve. And we expect that extreme poverty will drop from 22 percent to 11 percent by the year 2000.
A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
China is crippling our manufacturing economy and eliminating our jobs by illegally flooding our markets.
Few are sufficiently sensible of the importance of that economy in reading which selects, almost exclusively, the very first order of books. Why, except for some special reason, read an inferior book, at the very time you might be reading one of the highest order?
Ukraine is also successfully moving toward democracy and making progress expanding freedoms and rights to its people. We can help Ukraine achieve these goals and improve its economy by normalizing trade relations.
Today, the US spends less on defense as a percentage of our economy than we did at any time since he Japanese attack on Pearl Harbor. For the world's only superpower, that is an invitation to very serious trouble.
There's plenty of juice to keep this economy going.
Most of the State of the Union will not be about Iraq. Most of the State of the Union will be about improving America's economy and providing greater access to health care for millions of American people, including senior citizens.