The words, 'penalty,' 'restrict' and 'violate' appeared more times in President Clinton's health care reform bill than in his crime bill.

One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.

Obviously, things can get derailed, particularly if, which looks more and more likely, you get a blow-up between Israel and Iran. I think that's a very real probability now. But barring some real blow-up, the U.S. economy will grow, after a slow first quarter, about 3, 3.5 percent this year, far better than it was in 2011.

Today, the US spends less on defense as a percentage of our economy than we did at any time since he Japanese attack on Pearl Harbor. For the world's only superpower, that is an invitation to very serious trouble.

Mr. Greenspan did a very good job in the early 1990's. But recently he's fallen prey to this crazy theory that prosperity causes inflation. So they're trying to slow the economy down by raising interest rates. It's like a doctor saying you're in great health, so we have to make you sick a little bit. It's a bizarre theory. It's going to hurt our economy.

You make more money selling advice than following it. It's one of the things we count on in the magazine business -- along with the short memory of our readers.

The flat tax would be so simple, you could fill it out on a post card. A post card that would say, in effect, having a wonderful time; glad most of my money is here.