David Malpass Quotes

David Malpass — American Economist born on March 08, 1956,

David R. Malpass is an American economist and also ran in the 2010 Republican primary for U.S. Senate in New York. He is the founder and president of Encima Global LLC, an economic research and consulting firm based in New York City. He served as Deputy Assistant Treasury Secretary under President Ronald Reagan, Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns. He was highly positive about the state of the US economy in 2007, optimistically defending it despite its partial crash later that year. Malpass campaigned to unseat appointed Senator Kirsten Gillibrand in the 2010 U.S. Senate Special Election in New York, but he lost the Republican primary on September 14, 2010... (wikipedia)

People's jobs are the biggest asset that they have. The net present value of your job is worth more than your house or your stock portfolio. As people decide whether they're going to buy a car, they're more concerned about whether they have a job and are likely to have a job next year.

The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don't fix the underlying problems.

To win elections, politicians have promised practically endless government spending and covered up the cost, leaving generations of taxpayers obligated to pay off the debt. That's wrong, but neither the U.S. nor Europe has a plan to stop it.

Already we're seeing graduates of U.S. higher education going back to their home countries and contributing to societies there, where in the past they would have stayed in the U.S. and built new companies here. We have to have immigration reform that allows talented foreigners to become Americans.

The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.

David Malpass Quotes

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