> they come broadly from two camps One camp is the "this time is different" camp and the other camp is the camp that has been proven correct (eventually) in ev

> they come broadly from two camps One camp is the "this time is different" camp and the other camp is the camp that has been proven correct (eventually) in every historical instance of an asset price bubble. It should be noted that the first camp ALWAYS has a very good argument (usually involving technological change) about why this time is in fact different, but it always turns out to not be different.