> When enough people lose enough money, people stop lending their money so freely and the business cycle starts the contraction phase. But the business cycle i

> When enough people lose enough money, people stop lending their money so freely and the business cycle starts the contraction phase. But the business cycle is not a bad thing. One important feature of the cycle is that as investment seeks new opportunities nobody knows with certainty what will succeed and what will fail in advance. The down part of the cycle clears out the losing investments. If the free market business cycle has any strengths, surely this is one of them: allowing big money to be both smart and stupid, allowing the wealthy to take dumb risks and lose to those who are more nimble, more insightful, more industrious.