Financial crises are an unfortunate but necessary consequence of modern capitalism.

Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.

The United States has the most sophisticated financial markets in the world, which does not leave much room to maneuver. But it also offers investors the greatest access to information and the ability to execute trades quickly and efficiently. So it is a mixed bag of opportunity.

Financial crises require governments.

Share buybacks are just a necessary financial function in modern markets, something you have to do almost regardless of stock price. It's almost like paying your bills.

We modern Marxists regard socialism as a historically brief transitional stage between feudalism and capitalism, necessary only in backward countries.