Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (48790)	4/20/2004 1:24:26 AM
From: Ilaine	Read Replies (4) of 74559

1) Yes. 2) Don't understand the question. A bubble is a matter of definition - the price of something is vastly more than its "true" worth, whatever that is, but that's not all. The hallmark of a bubble is pure speculation, the "greater fool" theory takes over. In a bubble you don't care what something costs because you plan to flip it. Bubbles aren't booms. Booms are speculative, but not to the extent of "greater fool" rationalizing. 3) No. ~~~~~~~~~~~~~~~~~~~~~~~~~ Given the naivete of the Chinese government, I should not be a bit surprised if they did not listen to the pronouncements of you and other rational, intelligent Chinese men, some of whom are probably rather "short" at the moment, so have a conflict of interest. Sort of like Hoover listening to his advisors about bursting the NYSE "bubble," or Churchill listening to his advisors about the British pound. I'd advise the Chinese government to listen to Greenspan and Bernanke, rather than you, but would bet 99.9% odds that they won't. Should be interesting. In the meantime, dollar up, should be interesting too.

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