Soft Landing?
December 7th, 2005 by 
InLibrisLibertas
Famous economist John Kenneth Galbraith writes in his book “A Short History of Financial Euphoria”:
“Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.”
Posted in Manias | 