Business
Treasurer and RBA light the sharemarket fuse – The Australian Financial Review
The government has freed billions of investment dollars that have been sitting on the sidelines, which will now be unleashed on the equity markets.
Wizened investors have been seen dusting off copies of works by noted experts on speculative bubbles such as John Kenneth Galbraith and Warren Buffett.
Galbraith summed up the typical speculative bubble with the following description in his book A Journey Through Economic Time: “Speculation begins when a price is going up and the presumptively wise expect a further increase.
“They buy and thus produce the increase. More buy, and more and yet more are attracted. Each price increase affirms the …
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