International capital flows must have been at the root of the problem,

Up to those amounts the countries concerned would be able to access international capital markets at prime rates. Beyond these, the creditors would have to beware.

There's (a) problem that I think is brewing, and that is the end of the housing boom in the United States and the ability of households to spend more than they earn because the value of their house is rising.

I think the whole idea of eradicating the drug problem is a false idea, ... You can discourage the use of drugs, you can forbid the use of drugs, you can treat people who are addicted to drugs, but you cannot eradicate drugs. Once you accept this point, you may be able to develop a more rational approach to the problem.

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

This is, at root, a problem of demand outstripping supply,