When all is said and done, what must be remembered is a newspaper is a business. It used to be a fabulous business that made extraordinary margins. It's now a very good business with appropriate margins.

Interest rates are going to go up because employment is going to go up. If employment goes up, then our apartments get filled. And if employment goes up, our office buildings get filled. The reality is that increased economic activity combined with increased interest rates is basically bullish for real estate.

When you got a demand issue it's hard to imagine the stock market at an all-time high.

Everyone likes pussy. It's un-American not to like pussy.

My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.

If you could find a major city that actually had a functioning, good public school system, you should buy all the real estate.

The question is not do you take money out of stocks and put it into real estate, or the reverse. There's so much money out there looking for a home. I don't think it's either/or.