I Am Not Going To Say I

The Global Financial Crisis - Missed By Most Analysts - Shows That Most Forecasters Are Poor At Pricing In Economic/financial Risks, Let Alone Geopolitical Ones.

I Believe In Market Economics. But To Paraphrase Churchill - Who Said This About Democracy And Political Regimes - A Market Economy Might Be The Worst Economic Regime Available, Apart From The Alternatives. I Believe That People React To Incentives, That Incentives Matter, And That Prices Reflect The Way Things Should Be Allocated. But I Also Believe That Market Economies Sometimes Have Market Failures, And When These Occur, There's A Role For Prudential - Not Excessive - Regulation Of The Financial System.

Gold Has No Increasing Value. And If You're Really Worried About, Say, Inflation Rising, I Would Buy Spam. You Know, You Can Eat Spam. You Cannot Eat Gold.

If We Didn't Have Greed, Market Economies Wouldn't Be As Innovative As They Are. But In My View, Greed Has To Be Contained By The Fear Of Losses, So There Has To Be A System Where, If You Take Too Much Risk, You Go Into Bankruptcy. You Don't Systematically Bail Out People Who Take Excessive Risks.

I Believe, Unlike People That Are Totally Free-market, Laissez-faire Fundamentalists, That There Is An Important Role That The Government Can Play - One, In Providing Public Goods, Whether It's Education, Health Care, Or Other Things, And Two, Supervising Countercyclical Policy - Stimulus, Whether It's Monetary, Fiscal, Or Otherwise.