But where will the Fed find another bubble?

Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.

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

What Republicans have actually put on the table is almost nothing. All of the rest is just big talk. So how is the president supposed to negotiate with people who say, 'Here's my demands. By the way, I can't give you any specifics. Just make me happy'?

The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.

[I]f you look at United States history since World War II, you find that of the 10 presidents who preceded Barack Obama, seven left office with a debt ratio lower than when they came in. Who were the three exceptions? Ronald Reagan and the two George Bushes.

And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.