Oh my god. The terminal phase of a bubble comes when the strongest doubters of the bubble start to doubt their own doubt and believe the crazy rationalisations for illogical valuations. After all, a bubble is often just a reflection of market participants changing their beliefs. If almost everyone's beleifs have been changed there is nothing left to fuel the bubble.
The terminal phase of a bubble comes when the strongest doubters of the bubble start to doubt their own doubt and believe the crazy rationalisations for illogical valuations. After all, a bubble is often just a reflection of market participants changing their beliefs. If almost everyone's beleifs have been changed there is nothing left to fuel the bubble.
[It seems that, not content with emulating early 19th century physics, now economists want to emulate the wholly speculative physics post-1975 - sigh] guaranteed to evoke a violent reaction from police is to challenge their right to "define the situation." --- David Graeber citing Marc Cooper
