Civilization, in every generation, must be defended from barbarians.
The barbarians outside the gate, the barbarians inside the gate, and the barbarian in the mirror...
Wednesday, May 28, 2008
The Final Lunatic Bubble
Two fascinatingposts spell out how the current run up in commodities is due to not much more than the exponential runup of yet another bubble. Just like dot coms and housing, this one is also going to crash hard, IMHO. Oil gotten out of the ground for $20 a barrel just ain't worth $130 a barrel. Just like a zero profit, zero revenue dot com firm wasn't worth billions, nor a $250,000 house in Florida worth $750,000.