During every bubble you can find a plethora of “reasons” for why it makes sense for houses to cost 8x incomes, or a company to be burning through cash at an alarming clip, or why profits don’t m
by Chris During bubbles sparked by massive central bank liquidity expansion episodes people are entirely willing to throw financial rules out the window in favor of “explanations” that are merely rationalizations that boil down..
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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