As usual this applies: https://en.wikipedia.org/wiki/Betteridge’s_law_of_headlines
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It’s the next big thing!
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It’s not a bubble
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Okay, maybe it’s a bubble, but a ‘rational’ one <- we are here
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Shit
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In other words can we blow some more air into the balloon while pretending that it is actually not a real balloon
Any bubble is just as rational as any other. It’s irrational in that it’s not based on fundamentals, and rational in that it’s based on reasonable belief that the value will go up.
Once people start to openly justify the bubble by the rationality of the greater fool theory, they tend to pop very quickly.
This time things are different in that there is an actual caste of people with infinite money that can only pop one bubble if they inflate another one (or if the government stops giving them money, but I wouldn’t bet on that). And there doesn’t seem to exist anything big enough to take all that money. So it’s hard to imagine the bubble popping mechanics working here.
All bubbles are good until they’re not.
