History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.

If I've made myself clear, I've misspoken.

We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.

When trust is lost, a nation's ability to transact business is palpably undermined.

Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking