Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe.

Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.

Diplomacy is really far less important than the stock movements within Russia.

People don't realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but that's as far as we go. And I've had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.

My father told me about American democracy. And he said you have to be actively engaged in the political process to make our democracy work. So I've been doing that my entire life. Civil rights movement. The peace movement during the Vietnam conflict. The movement to get an apology and redress for Japanese-Americans.

A constant stream of 'free' money is a perfect way to keep an inefficient or simply bad government in power. As aid flows in, there is nothing more for the government to do - it doesn't need to raise taxes, and as long as it pays the army, it doesn't have to take account of its disgruntled citizens.

I had a 20-year, stellar government career.

I think we're probably more unified than ever before because we're in a battle for survival. Not only for survival as the Republican Party, but survival of the check and balance system in our government.