Social Security Is A Social Insurance Program

Close The Weak Banks And Impose Serious Capital Requirements On The Strong Ones...you See, It May Sound Hard-hearted, But You Cannot Keep Unsound Financial Institutions Operating Simply Because They Provide Jobs.

We Know That Advanced Economies With Stable Governments That Borrow In Their Own Currency Are Capable Of Running Up Very High Levels Of Debt Without Crisis.

Politics Determines Who Has The Power, Not Who Has The Truth.

I'm Especially Baffled By The Idea Of Taking Insurance Against A U.s. Default. If America Defaults, We're Talking About A Chaotic World - Mad Max, More Or Less - In Which Case, Who Imagines That Insurance Claims Will Be Honored?

I've Always Believed That A Speculative Bubble Need Not Lead To A Recession, As Long As Interest Rates Are Cut Quickly Enough To Stimulate Alternative Investments. But I Had To Face The Fact That Speculative Bubbles Usually Are Followed By Recessions. My Excuse Has Been That This Was Because The Policy Makers Moved Too Slowly - That Central Banks Were Typically Too Slow To Cut Interest Rates In The Face Of A Burst Bubble, Giving The Downturn Time To Build Up A Lot Of Momentum.