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The Return of J. Rufus Wallingford and the Next Financial Crisis

J. Rufus Wallingford, a financial speculator in a 1911 novel by George Randolph Chester, of whom it was said “he toils not, neither does he spin,” is an exemplar who, in every generation, has followers in real life. Bernard Baruch, no mean speculator himself (a biography of him is entitled The Speculator), was one of the few of the breed to anticipate the Great Depression. His favorite book was Charles Mackay’s Extraordinary Popular Delusions an…
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The American Spectator broke the news in Alexandria, United States on Saturday, July 19, 2025.
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