If the price of everything is going down, that's going to include wages as well. People will have an incentive to sit on their cash and not spend it.

I'm not sure that the current value of the NASDAQ is justified, but I'm not sure that it isn't.

The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.

The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.

The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.

[I]n America, at least, we have a pretty good record for behaving in a fiscally responsible fashion, with one exception - namely, the fiscal irresponsibility that prevails when, and only when, hard-line conservatives are in power.

If the price of everything is going down, that's going to include wages as well. People will have an incentive to sit on their cash and not spend it.