“Whenever the price people will pay today depends on the belief that other people will pay even more tomorrow, you’ve got a bubble.”
Reading this Time Commentary today on the real estate bubble, it’s interesting to think about the bubbles that exist around each and every one of us. It seems like many businesses are based on bubbles to some extent.
Most bubbles that I can think of are small enough that they won’t ever get close to bursting. It seems like in business, competition generally keeps bubbles from growing to be too big.
Sorry for not going into specifics, I have a ton of stuff to get done today.