If you're doing your job right, some substantial group of people [is] going to be mad at you.

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

Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.

Yes, over the centuries economic progress has reduced some gross disparities - modern Americans are relatively unlikely to simply starve to death (though it can happen), so in that sense the gap between rich and poor has narrowed. But the question isn't whether society is, in some sense, more equal than it was in 1900. It's whether it is radically more unequal than it was in 1970. And of course it is.

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.

As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.

But where will the Fed find another bubble?