Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.

I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I’m proud of it.

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

But where will the Fed find another bubble?

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.

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.

The federal government is basically an insurance company with an army.