I have to confess, these are trying times for those of us trying to make sense of the markets from a fundamentals standpoint. We are back in serious bubble territory, and during the heights of bubbles, all sorts of newly-minted rationalizations are bandied about as the new wisdom or a 'new normal'.
I am simply amazed that we are in yet another massive bubble, so soon after the last ones, and that so few remember the lessons from those events.
by blaggers 
