In that past, society was less informed. We are very much connected more than any time in history. I'm no were near wall street, but I can access some street

In that past, society was less informed. We are very much connected more than any time in history. I'm no were near wall street, but I can access some street gossip forums to find out how investment banks are doing, I can find out which funds lost what and who is laying off who and how many. It's much easier to pluck and sniff out these signals than in the past. I can run a query and find out exactly how many houses sold in a city this month, compared to last month or this time last year. I can see the price difference. I can see how long houses are sitting before they sell, the vast amount of data the ordinary man has access can't be discounted. My hypothesis is that in future bubbles, we will know like we know now, but they will not have a big pop, but rather a very slow deflation that goes on for months or even years. Because people know about it, some will anticipate they can profit from it and keep jumping in and out, whereas most would have stayed out if there was a big pop instead of a slow deflation.