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What industry secret are you aware of that most people aren't? (programming.dev)

submitted 2 months ago by protein@programming.dev to c/asklemmy@lemmy.ml

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[–] smayonak@lemmy.world 2 points 2 months ago

Everything you wrote lined up with the article on wikipedia so if you got something wrong I didn't see it.

I'm referring to the book "This Time Is Different: Eight Centuries of Financial Folly" the title of which mocks the oft repeated defense of bubble investors:

https://www.nber.org/system/files/working_papers/w13882/w13882.pdf

But their point is that every single asset bubble ended up popping, despite the protections instituted by banks and governments. They also point out that the bubbles have been getting bigger and bigger