I really think that people have to think safety; taking risks for higher yield is a bad idea once you're in late or latish middle age.

I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

What happened after 9/11 - and I think even people on the right know this, whether they admit it or not - was deeply shameful. The atrocity should have been a unifying event, but instead it became a wedge issue. Fake heroes like Bernie Kerik, Rudy Giuliani, and, yes, George W. Bush raced to cash in on the horror. And then the attack was used to justify an unrelated war the neocons wanted to fight, for all the wrong reasons....The memory of 9/11 has been irrevocably poisoned; it has become an occasion for shame. And in its heart, the nation knows it.

But where will the Fed find another bubble?

The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.

I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.

Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.