I don't think that [normalization] necessarily is going to damage the emerging economies.

Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.

I've been regulated my whole life. We have progressive taxes. It's not a free-market free-for-all. I completely understand that society has a perfectly legitimate right to put in structures and regulations and rules that make it fairer, better, cleaner.

No one has the right to not assume that the business cycle will turn! Every five years or so, you have got to assume that something bad will happen.

I think normalization is a good thing.

Men, age 25 to 55, the labor-force participation rate is down 10%. That's unbelievable. There are 35,000 dying of opioids every year. Seventy percent of kids age 17 to 24 can't get into the US military because of health or education. Obesity, diabetes, reading and writing. Is that the society we wanted? No. We should be working on these things, acknowledge the flaws we have, and come up with solutions. Not Democrat. Not Republican. Not knee-jerk.

I think immigration has been one of the vital things about the growth of America. I'm the product of grandparents who all immigrated from Greece. I hope eventually we have proper immigration.