Whatever You Tax You Get Less Of.

We May Be In A Rapidly Evolving International Financial System With All The Bells And Whistles Of The So-called New Economy. But The Old-economy Rules Of Prudence Are As Formidable As Ever. We Violate Them At Our Own Peril.

A Decline In The National Housing Price Level Would Need To Be Substantial To Trigger A Significant Rise In Foreclosures, Because The Vast Majority Of Homeowners Have Built Up Substantial Equity In Their Homes Despite Large Mortgage-market Financed Withdrawals Of Home Equity In Recent Years.

Skilled Shortages In America Exist Because We Are Shielding Our Skilled Labor Force From World Competition. [visa Quotas] Have Been Substituted For The Wage Pricing Mechanism. In The Process We Have Created [a] Privileged Elite Whose Incomes Are Being Supported At Non-competitively High Levels By Immigration Quotas On Skilled Professionals. Eliminating Such Restrictions Would Reduce At Least Some Of The Income Inequality.

Regulators Have Not Been Able To Achieve The Level Of Future Clarity Required To Act Pre-emptively. The Problem Is Not Lack Of Regulation But Unrealistic Expectations. What We Confront In Reality Is Uncertainty, Some Of It Frighteningly So...

The Economy Is Turning, And Credit Comes In With A Lag, .. To The Extent That A Number Of Small Firms Are Finding It Difficult To Get The Credit They Need At A Price They Can Afford, That's Likely To Change For The Better.