Stock Market Bubbles
It’s a Trap! In 1996, Federal Reserve chairman Alan Greenspan made a speech about rising stock market bubbles in which he said: “But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?” Those words, “irrational exuberance,” became Greenspan’s signature phrase. But what did he mean? “Irrational … Read more