"Be it tulips, land, housing, derivatives or shares, they find that the consequences of a bursting bubble depend less on the type of asset than on how it is financed. High leverage is the telltale sign of trouble..."
I see this today not just in the Valley but elsewhere in the world too (witnessed it in India and Sub-Saharan Africa). When wealth sloths in a 1% interest rate economy, it gets restless to find better results, often with disastrous results.
"Be it tulips, land, housing, derivatives or shares, they find that the consequences of a bursting bubble depend less on the type of asset than on how it is financed. High leverage is the telltale sign of trouble..."
I see this today not just in the Valley but elsewhere in the world too (witnessed it in India and Sub-Saharan Africa). When wealth sloths in a 1% interest rate economy, it gets restless to find better results, often with disastrous results.