— a cycle built on psychology and misperceptions that has been sweeping much of the world for the last 10 or 12 years. [...]
This is, of course, from mister “Irrational Exuberance”… prawf Robert Schiller, in the New York Times. + MP3
[...] Booms cannot go on forever. Downward price feedback sets in. That is when balance sheets become impaired and widening credit problems start to show up. [...]
