The beauty of bubbles
So what about the rich world’s present miseries? Will the financial bubble that has just burst over our heads leave some legacy of lasting value? Searching for the positives from the recent debt binge may seem Panglossian. But the lesson of previous bubbles is that even the wildest manias may do some good. “You can start with misallocation of capital and stupidity and still end up with something useful,” remarks Mr Nairn. Full Story »
Posted by Terry Gamble
