The Financial Markets Play An Active Role

I'll Tell You What I'd Do If It Were Up To Me: I Would Establish A Strictly Controlled Distribution Network Through Which I Would Make Most Drugs, Excluding The Most Dangerous Ones Like Crack, Legally Available. Initially I Would Keep The Prices Low Enough To Destroy The Drug Trade. Once That Objective Was Attained I Would Keep Raising The Prices, Very Much Like The Excise Duty On Cigarettes, But I Would Make An Exception For Registered Addicts In Order To Discourage Crime. I Would Use A Portion Of The Income For Prevention And Treatment. And I Would Foster Social Opprobrium Of Drug Use.

No Individual Anonymous Participant Can Influence The Prices And Therefore You Really Can Speculate In The Market Without Paying Attention To Morality. That's One Of The Positive Features Of Markets. That's Why They Function.

The More Comprehensive And Convincing A Debt Reduction Program Is, The Less Likely It Is To Fail. And Remember, Just As Germany Is Grateful To America For The Marshall Plan, Italy Would Be Grateful To Germany For Helping It Lower Its Refinancing Costs.

The Prevailing Wisdom Is That Markets Are Always Right. I Take The Opposite Position. I Assume That Markets Are Always Wrong.

If The Bubbles Contain A Misconception, As They Always Do, Then It Can't Be Maintained Forever.