Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
too much money chasing too few assets - so it becames a game of piling money into pyramides??

Existence of assests does not exclude emergent Ponzi financing. As you say, there might be too few assets for too much money. In effect, the market "recycles" money of later entrants to give profit margins to astute insiders.  The tanks are not left completely empty, but there remains just a meager bottom of aa volumous bubble.

by das monde on Thu Mar 22nd, 2007 at 09:08:24 PM EST
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