What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
James ChanosRelated topics
asset bubble building buy cash cover debt define flow fool inflation kind office price property rental condo higherRelated quotes
Authors have a greater right than any copyright, though it is generally unacknowledged or disregarded. They have a right to the reader's civility. There are favorable hours for reading a book, as for writing it, and to these the author has a claim. Yet many people think that when they buy a book they buy with it the right to abuse the author.
Henry Wadsworth Longfellow
The fate of the country does not depend on how you vote at the polls - the
worst man is as strong as the best at that game; it does not depend on what kind of paper you drop into the ballot-box once a year, but on what kind of man you drop from your chamber into the street every morning.
Henry David Thoreau
The conservatives see man as a body freely roaming the earth, building sand piles or factories-with an electronic computer inside his skull, controlled from Washington. The liberals see man as a soul freewheeling to the farthest reaches of the universe-but wearing chains from nose to toes when he crosses the street to buy a loaf of bread.
Ayn Rand
