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“As a Texas loyalist who followed Bush to Washington with great hope and personal affection and as a proud member of his administration, I was all too ready to give him and his highly experienced foreign policy advisers the benefit of the doubt on Iraq. Unfortunately, subsequent events have showed that our willingness to trust the judgment of Bush and his team was misplaced.”

“Kyoto costs a lot, does nothing to prevent calamity, and pays no compensation in the event of loss. If my insurance broker offered that sort of policy, I would not carry insurance. Instead what my broker offers is a policy that costs a little and pays full compensation in the event of loss. If someone wants to propose that as a policy on global warming, I'm all in favour.”

“It's good to see so many friends here in the Rose Garden. This is our first event in this beautiful spot, and it's appropriate we talk about policy that will affect people's lives in a positive way in such a beautiful, beautiful part of our national - really, our national park system, my guess is you would want to call it.”

“Events and developments that we have observed in 2014, prove that this year will be very difficult for the world economy, but thoughtful economic policy, diversification and unity between the country's leadership and people guarantee that this year will be successful for us.”

“Time and again-from the collapse of the Soviet Union to the events of 9/11 to the onset of the Arab Spring-events have caught the experts, whether in government or on the outside, completely by surprise. Business owners with comparable performance records go bust. Brokers lose their clients. Physicians get sued for malpractice. Yet think-tankers and policy wonks continue to opine, never pausing to reflect on-or apologize for-their spotty records.”

“. . I think the Adam Smith role was played in this cycle i.e. the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek's The Road to Serfdom.”

“Over the longer term, China will grow by about 6% or 7% per year. The Chinese authorities usually react pretty quickly to unfolding economic events, and you've seen them recently change a whole bunch of policies to be more conducive to growth. They have the power and capability to macromanage the economy - to accomplish their growth objectives - which means they're pretty much going to come close to what they say is going to happen.”