You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.

Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention, and I wouldn't underestimate the value of that. But they're not designed to take care of social needs.

Bush's war in Iraq has done untold damage to the United States. It has impaired our military power and undermined the morale of our armed forces. Our troops were trained to project overwhelming power. They were not trained for occupation duties.

It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.

The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.

I am not a Zionist, nor am I am a practicing Jew, but I have a great deal of sympathy for my fellow Jews and a deep concern for the survival of Israel.

Increase your bets when you are confident and scale down your positions when you don't have conviction.