Which reminds me of an observation I've been meaning to make, in the spirit of Keynes. Leftists and other sourpusses love to go on about "bubbles," as if they're all bad, but they do have their benefits. The dot.com bubble really did help develop the Internet, and we're mostly grateful for that, no?
Doug
^^^^^
CB: Depends on whether left email lists end up injecting socialist consciousness into the working class.
On the goodness in bubbles, what about all those sub-prime mortgages that have not defaulted ?