A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble

People respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to find a job or may not try to find one as quickly as they would without the benefit.

Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.

Default is not in our stars, but in ourselves.

Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.

We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.

People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.