You know, when the cost of capital goes down, when credit becomes cheap, people start taking greater and greater risks.

But now, we are becoming suspicious of the very things we have long celebrated - free markets, trade, immigration, and technological change. And all this is happening when the tide is going our way. Just as the world is opening up, America is closing down.

Conservatives used to believe in confronting hard truths, not succumbing to comforting fairy tales. Some still do.

The tallest building in the world is now in Dubai.

Having your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.

There is very strong historical data that suggest the way societies grow is by making large, long-term investments.

California has often led the country, indeed the world, in the technology, consumption, trends, lifestyles, and of course, mass entertainment. It is where the car found its earliest and fullest expression, where suburbs blossomed, where going to gym replaced going to church, where forces that lead so many to assume that direct democracy is the wave of the future - declining political parties, telecommuting, new technology, the internet generation 0 are all most well developed in this vast land.