I wasn't paying attention during the 90's so this is not a rhetorical question. Everyone says we're in the midst of a commodity bubble especially with oil. Can it be a bubble if everyone thinks it is? I was under the impression that in the 90's people didnt think it was a bubble, which is why the bought into it...emotionally and financially...thus making it a bubble. If everyone is saying its a bubble can it really be? Isnt the crowd typically wrong? Thoughts?
Come and listen to a story 'bout a man named Jed. Poor mountain man, barley kept his family fed. Then one day Jed was shooting at some food, and up through the ground, come a bubbling crude. Oil that is, black gold, texas tea. Well the next thing you know old Jed's a millionire. Folks said Jed "hey move away from thar". Said Californy is the place ya ought to be, so he loaded up his truck and moved to Beverly....Hills that is, swimming pools, movies stars...