Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst.

I admit it: I had fun watching right-wingers go wild as health reform finally became law.

Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.

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

Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.

The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.

I think Stockman is an interesting sort of amalgam.