It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
I think without a doubt, that what is called "financial genius" is merely a rising market.
The inborn instability of capitalism has been part of the history of the system for several hundred years, including recurrent speculative episodes. There should be no doubt in anyone's mind that we're now having another one of those speculative episodes.
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