You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.

The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.

We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.

If you have a harem of 40 women, you never get to know any of them very well.

I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.

We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.