Markets and exchanges are merely mechanisms which reflect the temperament of man

At some point the Japanese, Chinese and Saudi buyers of US and European Government bonds will see just what miserable value they offer. Then governments may have to stop all the runaway spending and bailouts and even put up interest rates.

Markets and exchanges are merely mechanisms which reflect the temperament of man

I have witnessed boards that continued to waste money on doomed projects because no one was prepared to admit they were failures, take the blame and switch course. Smaller outfits are more willing to admit mistakes and dump bad ideas.

Entrepreneurship is not a job, nor even a calling - but a hunger.