The Free Lunch Has Still To Be

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

I Cannot Conceive Of A Politically Feasible Solution To This Problem Which Will Overdo Cutting The Deficit, Where Overdoing Means Harming The Economy. It Might Be Technically Possible, But It Is Not Realistic.

In General, Corruption Tends To Exist Whenever Governments Have Favors To Extend, Or Something To Sell.

In An Economy That Already Has Lost Some Momentum, One Must Remain Alert To The Possibility That Greater Caution And Weakening Asset Values In Financial Markets Could Signal Or Precipitate An Excessive Softening In Household And Business Spending.

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.