Wednesday, September 10, 2008

Why the Obama Bubble Has Collapsed.

Speculative bubbles have come in many different varieties: flowers, railway shares, Florida property, Beanie Babies, comic books, technology stocks, exurb McMansions. Does Candidate Obama qualify? Well, the candidate does sound a bit like a lot of the hot Internet companies back in the late 1990s. Not much of a track record. Lots of media hype. Parabolic ascent. And now a stomach-dropping decline.

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