April 24th, 2008

Macbeth the Usurper

Permanent Bubble

I now think that we are in a permanent cycle of bubbles.

There lots of money out there, and everyone is trying to optimize their returns. Worldwide.

Even with a minority of investors following best-growth tactics, there is now enough of them that whatever becomes the best investment gets bubbled by them. The implications of this is social and economic disruption as they wreck every system that they touch.

The internet went bust. They went into property. Property is now bust, so othey go into commodities. What follows commodities, I don't know.