Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more.

I think that over the last few decades, we have seen better economic outcomes than in the past.

Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.

This erosion of the middle class is happening all over the place. The opening of a wider gap between rich and poor is always accompanied by such a process.

The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.

I focus on spiritual wealth now, and I'm busier, more enthusiastic, and more joyful than I have ever been.

I'm not so in love with material things that I'll do anything for money. That allows me the luxury of doing things of value.