The Free Lunch Has Still To Be

No Matter How Skillful The Trading Scheme, Over The Long Haul, Abnormal Returns Are Sustained Only Through Abnormal Exposure To Risk.

As Long As We Issue Fiat Currency, I See No Alternative To A Legal Tender Law.

At The Risk Of Some Oversimplification, If The Skill Composition Of Our Work Force Meshed Fully With The Needs Of Our Increasingly Complex Capital-stock, Wage-skill Differentials Would Be Stable, And The Percentage Changes In Wage Rates Would Be The Same For All Job Grades.

If Prices Go Down, We Will Have Problems - Problems In The Sense Of Spillover To Other Areas.

Look, I'm Very Much In Favor Of Tax Cuts, But Not With Borrowed Money. And The Problem That We've Gotten Into In Recent Years Is Spending Programs With Borrowed Money, Tax Cuts With Borrowed Money, And At The End Of The Day That Proves Disastrous. And My View Is I Don't Think We Can Play Subtle Policy Here.