He argued that pre-emptive bubble-pricking rested on three assumptions, none of them likely to be met.
This is done by pricking a hole in a compartment's acrylic shell with a laser.
This year an academic's essay cast doubt on Asia's economic miracle, pricking any unquestioning confidence in the region's prospects.
She now confessed she wasn't discovering witches by pricking at all, she was telling by looking in their eyes.
It would take several rate rises to be sure of pricking share prices.
Since they can be used for cutting, slashing, spearing and pricking, knives have known more uses than it would be possible to count.
Since pricking a financial bubble is a risky business, it is clearly better for central banks to step in early to prevent one developing.
Ryanair is not the only budget airline pricking the big boys.
Pricking bubbles another mooted role for systemic regulators is also fraught with danger.
Perhaps the turmoil of the past few weeks, by pricking a speculative bubble and making investors reassess risks, has itself sown the seeds of a recovery.
Some were simply old-fashioned Tories who enjoyed pricking pretension.
He repeated the standard arguments for why central bankers should not target house prices: that bubbles can be identified only after the fact, and that pricking them with higher interest rates might do more harm than good.
As the French looked back on a life spent pricking the conscience of a nation about poverty on its own doorstep, they were also digesting a political row about earthly goods at the other end of the scale.
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