Economics Is Not A Morality Play.

If The Price Of Everything Is Going Down, That's Going To Include Wages As Well. People Will Have An Incentive To Sit On Their Cash And Not Spend It.

Default Is Not In Our Stars, But In Ourselves.

Most People, I Suspect, Still Have In Their Minds An Image Of America As The Great Land Of College Education, Unique In The Extent To Which Higher Learning Is Offered To The Population At Large. That Image Used To Correspond To Reality. But These Days Young Americans Are Considerably Less Likely Than Young People In Many Other Countries To Graduate From College. In Fact, We Have A College Graduation Rate That's Slightly Below The Average Across All Advanced Economies.

But Wall Street People Are In Fact Very Smart; They're Funny, They're Not Company Men Who Work Their Way Up The Chain.

If You Can Create Even The Illusion Of High Profitability For A Few Years, Then When The Thing Collapses You Can Walk Out Of The Wreckage A Very Rich Man.