Quote:
Originally Posted by raulus
If you look at past manias and crazes, sometimes it takes several years to work through the process, with the mania growing in leaps and bounds along the way, before reaching peak frothiness and finally something breaks and it all comes crashing down.
The tulip bulb mania in Holland is one of my faves, and seems apropos here. In the end, the high end stuff was still very valuable. But all of the low end stuff got washed out.
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Tulip mania was pretty much limited to three years.
I've been hearing about the pending collapse of card prices for about 45 years.