The fact that Shiller had to come up with a new metric to rationalize exuberance should be worrying. "The time had come, as in all periods of speculation, when

The fact that Shiller had to come up with a new metric to rationalize exuberance should be worrying. "The time had come, as in all periods of speculation, when men sought not to be persuaded of the reality of things but to find excuses for escaping into the new world of fantasy." – John Kenneth Galbraith https://en.wikipedia.org/wiki/The_Great_Crash,_1929 https://en.wikipedia.org/wiki/The_Great_Crash,_1929