Since my diary on Minsky, I realized that his term "Ponzi finance" refers to companies looking for money, while I was talking more about behaviour of the other side - investors. Basically, I argued that investing into markets became "the way" to earn life, people are not only encouraged but basically forced to participate (via pension funds), and the market is growing predominantly because of ever increasing money supply (=share demand).

How to characterise role of investors in the scary picture of financial collapse? What is "Ponzi" about what they do? Do investors become Ponzi monsters as well by chasing leverages?

One of casual explanations of financial "overheatings" is "too much money chasing to few assets". That certainly refers to investors. Can we say, that in this situations money gets pilled into pyramides one way or other?

Anyway, it must be good to understand the picture from both sides - companies and investors.

The big question: who is buying the shares now? Evaluations of markets go through the roof again, but the last week saw big increases in volume, especially on Friday. What is happening? Why? Was there a trigger? Who is buying the stuff?