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Dan McMurtrie — On Markets and Policy (EP.115)
Infinite Loops
Are We Just Witnessing Them?
When money is priced too low, people do insanely stupid things that seem insanely stupid. If money's free, yes, sure, of course i'll buy that unicorn. I'll buy whatever. But at some point, don't we get back to buying the paper company because it's got a free cash flow, you're paying four times for it? Or do you think, no, that doesn't come back?"
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