[quote=phaster][quote=SK in CV]So you’ve redefined bubble to mean “i have no empirical evidence, but it’s confusing and I don’t know if it (whatever “it” is) can continue”.[/quote]
Justice Stephens was talking about obscenity. I have little doubt he knew exactly what he was talking about. You went backwards. Justice Stephens never referred to what he was talking about. You have. And you proceeded to provide what appeared to be evidence to support your conclusion. However, nothing you provided either supports, or even is specifically related to a bubble.
History has not provided a precise guide on how to predict a bubble. But it has given us a pretty good definition, primarily by the trail of destruction in value they leave. They are invariably related to a particular asset, or asset class.
You may in fact know something when you see it. But what you’ve described is certainly not a bubble.
