Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.

Excessive optimism sows the seeds of its own reversal.

Amateurs want to be right. Professionals want to make money.

But rules cannot substitute for character.

Well, you probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud.

Deficit spending is simply a scheme for the confiscation of wealth.

I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.