I think we are in agreement that government has the power to stop bubbles with regulation, if it wants to. As I wrote above: "Of course, one might argue that w

I think we are in agreement that government has the power to stop bubbles with regulation, if it wants to. As I wrote above: "Of course, one might argue that we want bubbles, that such freedom of investment has positive consequences, or that heavy-handed government, while creating some benefits, also imposes large costs that outweigh whatever benefits are being offered. But that would be a separate issue."