But in the financial markets, without proper institutional rules, there's the law of the jungle - because there's greed! There's nothing wrong with greed, per se. It's not that people are more greedy now than they were 20 years ago. But greed has to be tempered, first, by fear of losses. So if you bail people out, there's less fear. And second, b prudential regulation and supervision to avoid certain excesses.

I am not going to say I told you so, but I did.

Technology is spurring innovation, and the so-called "demographic dividend" has brought change.

I think it's true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don't fully realize how much pain and suffering, how much anxiety exists out there.

In the history of modern capitalism, crises are the norm, not the exception.

Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.

I'm a rock star among geeks, wonks, and nerds.