The stagnation of the Japanese economy in the past 20 years is eloquent testimony to the fact that government usually gets it wrong. Sometimes it makes the wrong decision because it fails to anticipate the market (as Japan did when it downplayed laptop computers and stressed mainframes).

Spin is overrated. It is strategy, not spin, that wins elections.

The financial interdependence of the world's banks is like the interlocking alliances that predated World War I.

Bill and Hillary Clinton have one central idea in their uncluttered, ambitious minds: Hillary in 2008. Let Bush get re-elected, use the '04 primaries and general election to clean out the underbrush of competing Democratic candidates, and proceed unimpeded to the '08 nomination.

The Hispanic population grew by 4.7 percent last year, while blacks expanded by 1.5 percent and whites by a paltry 0.3 percent. Hispanics cast 6 percent of the vote in 1990 and 12 percent in 2000. If their numbers expand at the current pace, they will be up to 18 percent in 2010 and 24 percent in 2020. With one-third of Hispanics voting Republican, they are the jump ball in American politics. As this vote goes, so goes the future.

It is from the center that leaders must lead.

Every donation received is a potential negative ad. Vetting money is just as important as raising it.