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To: Elroy Jetson who wrote (137040)12/8/2017 11:51:37 PM
From: elmatador  Read Replies (1) | Respond to of 217588
 
"there has been little attempt to understand how speculation actually works. The example of tulipmania shows the importance of doing that—rather than relying on lazy quips about “animal spirits” or irrationality." economist.com

We are just dealing with the spillovers from QE. The popular press headline could be: There is too much money sloshing around.

Unconventional Monetary Policy and Asset Price Risk
imf.org

When there is too much money sloshing arund you see what you are seeing now:

Tesla guy tellig he is going to send a car to Mars.

Space tourism

The Chinese financing One Belt One Road

Look Elroy, people can handover their cash to Madoff, or hand that very same cash in exchange for a Bitcoins
The cause is always the same: too much money without nowhere to go.

Government will soon discover a way to cash in on the mania if the mania is sustainable.