Deficit Spending Is Simply A Scheme For

Improvements In Lending Practices Driven By Information Technology Have Enabled Lenders To Reach Out To Households With Previously Unrecognized Borrowing Capacities.

The Gut-feel Of The 55-year Old Trader Is More Important Than The Mathematical Elegance Of The 25-year Old Genius.

I Love To Play Tennis And Golf, Listen To Music, Watch Baseball And Root For The Redskins.

We Are In The Midst Of A Once-in-a-century Credit Tsunami. Central Banks And Governments Are Being Required To Take Unprecedented Measures. Those Of Us Who Have Looked To The Self-interest Of Lending Institutions To Protect Shareholders' Equity Are In A State Of Shocked Disbelief.

Nor Can Private Counterparties Restrict Supplies Of Gold, Another Commodity Whose Derivatives Are Often Traded Over-the-counter, Where Central Banks Stand Ready To Lease Gold In Increasing Quantities Should The Price Rise.