That Obama dude sure can talk, can't he?
Some people certainly have their hopes up:
Others are not so sure:
2009 The Train Wreck
Darryl Schoon - Financial Sense University
January 6, 2009
Change is a constant whether perceived or not; but only when we see it do we believe it has occurred. Then, it is too late.
The phrase, speculative bubble, is used to describe the financial tumescence that characterizes the often manic unfounded rise of asset values. The phrase, however, is inadequate for it fails to convey the destructive aftermath that follows; for such purposes, train wreck, is a better description. In 2009, the largest train wreck in economic history is about to occur.
Unfounded manic speculation, e.g. the 2002-2007 real estate bubble, is not new. Similar manic speculation occurred in internet stocks in the 1990s, radio stocks in the 1920s, as it did in railroad stocks in the 19th century and in tulip bulbs in the 17th century. Manic speculation is as human as the markets.
The first stock exchange in the world was the Amsterdam Stock Exchange, established in 1602. Amsterdam was also the site of the world first speculative bubble, Tulip Mania, which appeared shortly thereafter, 1621-1636