I think that the argument about lack of participation of general public is a red herring. Quote Wikipedia: 'An economic bubble is "trade in high volumes at pri

I think that the argument about lack of participation of general public is a red herring. Quote Wikipedia: 'An economic bubble is "trade in high volumes at prices that are considerably at variance with intrinsic values". It could also be described as a situation in which asset prices appear to be based on implausible or inconsistent views about the future.' Make a solid argument about whether this is or is not the case but "no cab drivers on the buying side" is a crappy argument.