The good thing is, we have household formation in this country. We have a country where I don't know whether it's a million households a year or more, but good form.

You could have these crazy Internet valuations in the late 1990s, but they prove themselves out in the market. The next day they were selling for more than they were the day before, and people said, you know, you're crazy if you don't get in on this. So it's very human.

We had the great depression, we had two world wars, we had the flu epidemic. We had oil shock. We had all these terrible things happen. But something about the American system unleashed more and of a potential to human beings over that hundred years so that we had a seven for one improvement in - there's never been any - I mean, you have centuries where if you've got a 1 percent improvement, then it's something. So we've got a great system. And we've got more productive capacity now than we ever have.

Any time I can be of help to the government in terms of giving advice -I've given a little advice, actually.

Beware of geeks, you know, bearing formulas.

I think it's terrible for people in effect to say that income from investment should be taxed at a much lower rate than income from labor.

The commercial paper market, when that dries up, you know, that's just like sucking the blood out of the economic body of the United States.