When money is free, the rational lender will keep on lending until there is no one else to lend to.

In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. When that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. Such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.

Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.

Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.

Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.

The laissez-faire argument relies on the same tacit appeal to perfection as does communism.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.