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Bubble, bubble, flows the stream
Like an old tune through a dream.
--
In Haunts of Bass and Bream.

 

Maurice Thompson

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Greenspan's reaction with regard to the stock-market bubble has caused two more bubbles to grow: a real-estate bubble and a consumer-debt bubble... History will judge him one of the worst Central Bankers ever.

 

Alan Greenspan

 

Like a dropsical man calling out for water, water, our deluded citizens are clamoring for more banks, more banks. The American mind is now in that state of fever which the world has so often seen in the history of other nations. We are under the bank bubble, as England was under the South Sea bubble, France under the Mississippi bubble, and as every nation is liable to be, under whatever bubble, design, or delusion may puff up in moments when off their guard. We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor in the earth. It is vain for common sense to urge that nothing can produce nothing; that it is an idle dream to believe in a philosopher’s stone which is to turn everything into gold, and to redeem man from the original sentence of his Maker, “in the sweat of his brow shall he eat his bread.”

 

Thomas Jefferson

 

Your dreamers may dream it
The shadow of a dream,
Your sages may deem it
A bubble on the stream;
Yet our kingdom draweth nigher
With each dawn and every day,
Through the earthquake and the fire
"Love will find out the way."

 

Alfred Noyes

 

Krugman [...] was not cheerfully advocating a housing bubble, but instead he was glumly saying that the only way he could see to get out of the recession would be for such a bubble to occur.

 

Paul Krugman

 

We needed to go over there, basically, and take out a very big stick right in the heart of that world and burst that bubble.… What they [Muslims] needed to see was American boys and girls going house to house from Basra to Baghdad and basically saying "Which part of this sentence don't you understand? You don't think we care about our open society? You think this bubble fantasy, we're just going to let it grow? Well, suck on this!" That, Charlie, is what this war was about. We could have hit Saudi Arabia! It was part of that bubble. We could have hit Pakistan. We hit Iraq because we could.

 

Thomas L. Friedman