The four ‘O’s that shape a bubble
This contribution to the “bubble of bubble talk” is one reason I read the FT, even though it is a tool of capitalism. In fact that’s what we need to do, to take and to use the tools of capitalism.
This is an insight I owe to my friend and almost not quite fellow-traveler, the late Loren Goldner. Over forty years ago he famously, to me, replied to my question as to how he always knew understood what the capitalists are doing: “I read the Financial Times. There the capitalists tell each other flat out what they are doing.”
(To clarify: I said “not quite a fellow-traveler” because I was a “petty-bourgeois social-democrat”.)
The four ‘O’s that shape a bubble
https://www.ft.com/content/ff72f64b-fc58-4f11-9b75-e30f99031936
“The one constant trigger for a crash, going back to the railroad bubbles of the 19th century, has been rising interest rates and tightening financial conditions. So while we are clearly in a bubble, it could keep growing until the money inflating it starts drying up.”
Capitalism (Wiki)