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Politics : American Presidential Politics and foreign affairs

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From: calgal	9/20/2008 4:52:52 PM
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We have learned from what happened back then and from Japan's experience in the 1990s. We will probably not make the same mistakes. We will, however, make other mistakes (and indeed we already have). Although conditions change, the basic human motivations of fear, greed, ignorance, and hubris are enduring. Keep in mind as we go through these tough times that even the smartest people can be wrong. Isaac Newton lost money in the South Sea Bubble. He not only figured gravity out, but was Master of the Mint, as close to being a central bank governor as one could be back in the seventeenth century. Recognizing the developing bubble, he sold his position. Then, when prices continued to rise, he decided that he must have been mistaken and bought back in www.weeklystandard.com

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