When stock prices are rising, it's called ''momentum investing''; when they are falling, it's called ''panic.''

But where will the Fed find another bubble?

Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.

I think Stockman is an interesting sort of amalgam.

The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.

Simple doesn't mean stupid. Thinking that it does, does.

Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.