The Ultimate Asset Bubble Is

Democracy, By Its Very Nature, Can't Be Imposed On People. Democracy Has To Be The People Deciding For Themselves.

Hedge Funds Are A Very Efficient Way Of Managing Money. But There Are Clearly Some Risks. Hedge Funds Use Credit And Credit Is A Source Of Instability. Transactions Involving Credit Should Be Regulated.

Revolutions Usually Start With Enthusiasm And End In Tears.

At Times Of Recession, Running A Budget Deficit Is Highly Desirable. Once The Economy Begins To Recover, You Have To Balance The Budget. But It Will Also Need Additional Revenues. Should The Government Not Receive Them, We Will All Get Punished With Higher Interest Rates.

The Prevailing Wisdom Is That Markets Are Always Right. I Take The Opposite Position. I Assume That Markets Are Always Wrong.