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Source link: http://archive.mises.org/11222/the-bubble-decade/

The Bubble Decade

December 11, 2009 by

Last night CNBC premiered “The Bubble Decade” with host David Faber looking back at the three boom-and-bust episodes of the past 10 years–tech, real estate and private equity. It will replay Sunday and no doubt many more times in the coming weeks and months.

Leaving aside the analysis at the end, the program is quite good. No, the Austrian Business Cycle Theory is not considered, but John McAfee’s story, in particular, is extraordinary and gives one a peek into the entrepreneurial mind.

{ 5 comments }

lester December 11, 2009 at 9:41 am

I was really disapointed with fabers one on the housing crisis. it was thorough EXCEPT for the fed element. they interviewed greenspan, but not to ask him why he kept interest rates so low for so long, instead he was this omniscent “expert” talking about the tragedy of it all.

Mike Wilson December 11, 2009 at 10:00 am

I agree with the assessment of John McAfee’s segment. Extraordinary. He came off as totally a peace with his misfortunes and made me consider my own situation in life. His comments about preferring to lose everything and start over rather than living a static life that never changes blew me away.

Gerry Flaychy December 11, 2009 at 10:59 am

Mike Wilson, do you really believe that it is necessary for someone to lose everything and start over to live a non-static life ?

Pat O'Brien December 11, 2009 at 11:24 am

Mr French,

I am surprised at your take on the program, although I do agree that it was at least an interesting program.

The reason I say this is because there were at least 2 people who seemed to look back too fondly and even say that they “hope we see something similar again.”

Doug French December 11, 2009 at 12:19 pm

Most people are ruined by booms and busts, but a few make out.

I think there was one entreprenuer who said that he would like to see another bubble, no doubt hoping to take advantage. And author Michael Wolff said he wants another bubble to write about.

As the bumper sticker seen in Texas after the oil crash read: “Lord give me just one more boom: I promise not to screw this one up”

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