The Gut-feel Of The 55-year

If I Say Something Which You Understand Fully In This Regard, I Probably Made A Mistake.

Whatever You Tax You Get Less Of.

Excessive Optimism Sows The Seeds Of Its Own Reversal.

There Is No Evidence That The Business Cycle Has Been Repealed.

I Have One Other Issue I'd Like To Throw On The Table. I Hesitate To Do It, But Let Me Tell You Some Of The Issues That Are Involved Here. If We Are Dealing With Psychology, Then The Thermometers One Uses To Measure It Have An Effect. I Was Raising The Question On The Side With Governor Mullins Of What Would Happen If The Treasury Sold A Little Gold In This Market. There's An Interesting Question Here Because If The Gold Price Broke In That Context, The Thermometer Would Not Be Just A Measuring Tool. It Would Basically Affect The Underlying Psychology.