The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.

The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

Nobody really understands gold prices and I don't pretend to understand them either.

Speaking as somebody who has been happily married for 35 years, I can't imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.

Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.

I don't see much evidence of an equity bubble.

It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.