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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

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

Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Able Archive Been Clarity Emotively Future Pre Regulator Require
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
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Another Commodity Counterparty Derivative Gold Often Private Restrict Supply Trade
As long as we issue fiat currency, I see no alternative to a legal tender law.
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Alternative Currency Issue Law Legal Long Tender
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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Distortion Economy Experience Imbalance Local National Price Seem Severe Significant
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Consensus Cut Fiscal Irresponsible Policy Tax Trigger View
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The free lunch has still to be invented.
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