Economics is not a morality play.

But Wall Street people are in fact very smart; they're funny, they're not company men who work their way up the chain.

In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.

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'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?

A message to progressives: By all means, hang Senator Joe Lieberman in effigy.

The French, unfortunately, actually believe what they say, and that has been very destructive.