It’s happening again -they’re reporting stock exchange highs as if they’re good news

Posted on

This is from a mail from the FT, received just now:

Screen shot 2013-03-15 at 09.02.04

Some won't remember previous occasions when reporting of stock exchange highs was undertaken almost daily (as now) with mounting excitement on the part of news organisations as if this meant good news.

Some are too young.

Some wish to forget.

Some are deliberately forgetting.

I don't. 1987. 2000. 2008. These were all periods of such hype. They all heralded crashes.

These things repeat.

They are repeating, now.