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Message:: [QUOTE="ewomack, post: 7853158, member: 15588"]Bubbles also occur when someone, or some group, thinks that they can beat the market by some "innovation" of leveraging debt far beyond the value of the base asset. These "get rich quick" schemes, often a variation of the "pyramid" or "Ponzi" scheme, have a history going back to the 17th century and will likely continue to cause speculative euphoria and subsequent crashes as long as our form of society exists. These crashes can permeate out into the larger economy and cause serious damage (1929, 1987 and arguably 2008 remain the perennial recent examples). A small book from the 1990s (below) provides an interesting look at these episodes and says to expect them to recur as people seem forever gullible to the correlation of intelligence to wealth and to their poor assessment of their own market acumen. <img src="https://images-na.ssl-images-amazon.com/images/I/41xtUU1ZJcL._SX324_BO1,204,203,200_.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]