There is more uncertainty than usual about job futures because computers are replacing more and more human intelligence, and globalization is proceeding at an accelerating pace.

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

Consider our difficulties avoiding junk food and overspending. Such addictions were carefully planned-for by professional marketing teams.

In the short run and for decisions unlikely to have broad impact, it may be more cost effective to use just one expert.

Somehow, talking to young students brings you back to reality - it should, anyway.

Physicists have a bias to aspire to be "seers" like Einstein rather than "craftspeople" who do simple and practical research. I have seen that in economics departments. The same must be true to some extent in other departments.

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.