Bubbleheadedness & the General Law of Chickens
In the second edition of David Wiedemer et al.'s Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown (2011) the authors describe the fundamental difference between natural economic cycles reflected in the periodic rising and falling of values in various markets, and a "bubble economy," in which monetary values, primarily through what I would identify as devotion to four or five of the Deadly Sins, combined with false optimism, lack of common sense, and ignorance of history, become inflated far past their actual worth.
The authors, who have made a reputation . . .
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