Of Course, Speculation Will Always

Every Bubble Has Two Components: Something - Some Real Trend, And A Misconception About That Trend.

When Interest Rates Are Low We Have Conditions For Asset Bubbles To Develop, And They Are Developing At The Moment. The Ultimate Asset Bubble Is Gold.

Markets Are Designed To Allow Individuals To Look After Their Private Needs And To Pursue Profit. It's Really A Great Invention, And I Wouldn't Underestimate The Value Of That. But They're Not Designed To Take Care Of Social Needs.

I Wish I Could Write A Book That Will Be Read For As Long As Our Civilization Lasts. I Would Value It Much More Highly Than Any Business Success If I Could Contribute To An Understanding Of The World In Which We Live Or, Better Yet, If I Could Help To Preserve The Economic And Political System That Has Allowed Me To Flourish As A Participant.

My Original Intention Was To Spend The Money In My Lifetime.