>What this means is scarce financial assets are going to go up, and up, and up
Until they don't...The exuberance I'm seeing lately scares the shit out of me. This is going to be a horrific crash when it comes.
Until they don't...The exuberance I'm seeing lately scares the shit out of me. This is going to be a horrific crash when it comes.
Never underestimate the power of everyone doing crazy things to make them not crazy. Housing prices in the US have been crazy long enough that the whole system is bought in to these levels it seems. Of course reality could be different in a few weeks or months but the bubble in real estate has been going on for a significant fraction of my adult life.