Henry Blodget of Internet Bubble Fame is Back

There are aome other very good articles at this link.

“Prices are in the stratosphere. Everyone’s making money—on paper. Sellers are asking for the moon. Buyers are ponying up and then flipping for more. Investment clubs are proliferating. Amateurs are quitting their day jobs. Professionals are dreaming up new financial instruments to increase their leverage. A somber chorus of experts is issuing warnings about risks, bubbles, and insanity, but the market is ignoring them. For no apparent reason, prices have risen some 30 percent since the beginning of the year.

If you think you’ve seen this movie before, then you think you know how it ends: with catastrophic drops in prices; assets that are suddenly, irrevocably illiquid; and a long, painful morning after. At least, that’s what happened when the tech bubble burst.”