Bad money drives out good.
(When a government or central bank overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation, while the overvalued money will flood into circulation)
The correct conclusion in my view is that we need to be pre-emptive in avoiding these types of problems in the future. Monetary policy should not be aimed at cleaning up a mess, but leaning against the wind to avoid the mess in the future.
There are two kinds of investors, be they large or small: those who don't know where the market is headed, and those who don't know that they don't know. Then again, there is a third type of investor -the investment professional, who indeed knows that he or she doesn't know, but whose livelihood depends upon appearing to know.
The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way