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33 sats \ 2 replies \ @unboiled 11 Dec \ on: Why We Don't See the Current Bubble (FT, Howard Marks) econ
There is a surprising amount of articles, also in major publications, being written about this bubble that allegedly no one else is seeing. Only the 5391 other authors. But no one else. Really.
if everyone sees a bubble, it kind of isn't a bubble
"actually, no one can see a bubble; that's what makes it a bubble"
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if everyone sees a bubble, it kind of isn't a bubble
Well, realistically, I don't know of a time where really everyone saw it, but virtually everyone who mattered saw and wrote about the housing bubble for a long time. And it still was a bubble.
I recall seeing doomsday articles as early as 2005.
It caught my eye back then because I had read irrational exuberance for the first time around 2001/2002, and my ears perked up when I saw the term being (re-)used more frequently to describe housing prices.
For a considerable period before that, I only rarely came across that term in articles still mulling over the dotcom era.
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