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How do we know when irrational exuberance has unduly escalated asset values?

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Escalate Exuberance Irrational Unduly Value

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife
Amateurs want to be right. Professionals want to make money.
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Amateur Money Professional Right
In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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Competitively Immigration Income Level Process Profession Quota Support
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Destruction Mass Over Publicize Weapon Whatever
Productivity is notoriously difficult to predict.
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Difficult Notorious Predict Productivity
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Dominant Euphoria Fear Force Many Multiply Size
It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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Benefit Deregulation Hard Important Look Overemphasize True Year
If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Area Other Price Problem Spillover
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Deserve End Lose Neither Power Principle Republication Swap
They seem to sense… that gold and economic freedom are inseparable.
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Economic Freedom Gold Inseparable See Sense
I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Amateur Average Band Big Fade Fairy Good Musician Professional
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
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Account Awesome Enough Large Made Mistake Number
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
It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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Alleged Baseball Country Decide Finish Guy Highly Original Philosopher True

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