..for built into the speculative episode is the euphoria, the mass escape from reality, that excludes any serious contemplation of the true nature of what is taking place.
Contributing to and supporting this euphoria are two further factors little noted in our time or in past times. The first is the extreme brevity of the financial memory. In consequence, financial disaster is quickly forgotten.
People quickly forget the financial past. Or maybe they are just uninformed We here in the housing reality community are here to remind people of this speculative episode.