we are witnessing the birth of something completely new here: The market that was too dumb to even realise that it should crash. It's not so completely new. Th

we are witnessing the birth of something completely new here: The market that was too dumb to even realise that it should crash. It's not so completely new. There was this old Warner Bros. cartoon trope about characters floating in defiance of the law of gravity, because they, "never studied law." (Though, perhaps Wile E. Coyote running halfway across the rift before he realizes he should fall might be more apt.)