I Am Very Proud Of My Nerd-dom.

Every Effort Needs To Be Made To Try And Offset The Costs Of Katrina And Rita By Reductions In Other Government Programs, Especially Those That Are Wasteful, Duplicative And Ineffective.

Investment Banks Manage To Go Bankrupt Through Their Investment-banking Activities, Commercial Banks Manage To Go Bankrupt Through Their Commercial-banking Activities.

To Avoid Large And Unsustainable Budget Deficits, The Nation Will Ultimately Have To Choose Among Higher Taxes, Modifications To Entitlement Programs Such As Social Security And Medicare, Less Spending On Everything Else From Education To Defense, Or Some Combination Of The Above.

The Economic Repercussions Of A Stock Market Crash Depend Less On The Severity Of The Crash Itself Than On The Response Of Economic Policymakers, Particularly Central Bankers.

The More Guidance A Central Bank Can Provide The Public About How Policy Is Likely To Evolve The Greater The Chance That Market Participants Will Make Appropriate Inferences.