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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. ↗
The intellectual architecture means focusing on doing great work instead of focusing on agency politics. ↗
I do not find the supposed scientific consensus among my colleagues. Curiously, it is a feature of man-made global warming that every fact confirms it: rising temperatures or decreasing temperatures. No matter what the weather, some model of global warming offers a watertight explanation. ↗
