"Volatility as Social Flaring"

Doug Henwood dhenwood at panix.com
Mon Feb 19 14:15:11 PST 2001


J. Barkley Rosser, Jr. wrote:


>Alan Greenspan accurately labeled it "irrational exuberance."

Ah, but that was more than 4 years ago. AG changed his tune, saying that he wouldn't presume to second-guess millions of very sophisticated investors, and the productivity boom could have changed everything. Of course, irrational exuberance is a fading memory.

Doug



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