“Bubbles are best identified by credit excesses not valuations” Discuss …
Both are usually necessary, but not sufficient. In order to have a true bubble, you need a critical mass of people speculating that an asset will rise very fast very high and then acting on that speculation.
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Deferring to our greatest living economist
@RobertJShiller https://hbr.org/2014/01/whats-that-youre-calling-a-bubble …pic.twitter.com/KQPR7igugW
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