The raw fact is that every successful example of economic development this past century ... has taken place via globalization.

[The US] budget is dominated by the retirement programs, Social Security and Medicare - loosely speaking, the post-cold-war federal government is a big pension fund that also happens to have an army.

I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.

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

But where will the Fed find another bubble?

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

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.