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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.

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Base Business Deal Fear Force Regulation Undermine

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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Credit-default swaps, I think, have serious problems associated with them.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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And she always has so much fun doing it. We make a good team.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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The Iraq War is largely about oil.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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