It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.

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

[I]n America, at least, we have a pretty good record for behaving in a fiscally responsible fashion, with one exception - namely, the fiscal irresponsibility that prevails when, and only when, hard-line conservatives are in power.

It’s not about the budget; it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.

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.

Economics is not a morality play.

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.