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?

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?

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking

I'm a better economist than I was a sax player.

The tub helps me relax, and it's a great place to read.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.