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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

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Asset Escalate Exuberance Irrational Unduly Value

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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Asset Caution Consequence Debt Elevate Increase Investor Lowe Onset Premium Price Risk Value
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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Application Approach Derivative Grow More Relate Sophisticate Use
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Always Debt Default Money Print Probability States United
You can’t have the capitalist system if an increasing number of people think it is unjust.
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Capitalist Increase Number People System Unjust
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Confiscation Deficit Hide Scheme Simply Spend Wealth
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History Probability Reduce Set Statics
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Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work
Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Cannot Conceive Cut Deficit Economy Harm Overdo Overdue Political Realistic Solution

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