People in the political world have every incentive to say things that lead voters away from a clear economic understanding of issues. What has happened more and more is that organized groups have more and more reasons to say things that don't make any economic sense.

The same set of statistics can produce opposite conclusions at different levels of aggregation.

Sometimes it seems as if there are more solutions than problems. On closer scrutiny, it turns out that many of today's problems are a result of yesterday's solutions.

Neither the depth of despondency nor the height of euphoria tells you how long either will last.

Cheap medical care is one of the most expensive things there is. So long as politicians can create the illusion of something for nothing, that gets them votes, which is what it is all about, as far as they are concerned.

Sports are the reason I am out of shape. I watch them all on TV.

The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They've brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they've brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have.