A Mania of Manias
Tulips, the South Sea Bubble, the new economy, the housing bubble—at some point the greatest fool has bought into an absurdity and a market that could only go one way goes the other way, precipitously. If the tech wreck was a jump off a thirty-meter platform and the 2008 financial crisis a plunge off the cliffs of Acapulco, the end of this multiple-absurdity mania of manias will be a swan dive from the top of the Empire State Building into a two-foot wading pool.
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- 2Posted by edweaver 11 years, 2 months ago in reply to this comment.I wonder too. Personally I think it is all hidden in debt. It used to be people did not carry much debt. Now it is the norm. I am hearing some pretty frightening stories of the current short term debt load of individuals. Does not sound like anyone learned a thing from 2008.| Permalink
- 3Posted by straightlinelogic 11 years, 2 months ago in reply to this comment.I certainly do.| Permalink
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