People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.

Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

Whatever you tax you get less of.

Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

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

Revolutions are something you see only in retrospect.