The New England weather, the stints of most shopaholics, sport enthusiasts worldwide, bacteria growing in a culture. the hooligans at a stadium, kids returning from their final exam all have a thing or two in common, and that can be summed up in two words as irrational exuberance. I came across this phrase duing a graduate class in the Fall of 2006 when my professor used it so well, and so frequently that the phrase has kind of stuck. It's origin can be traced to the Greenspan era when he famously mentioned it during a speech in times of the dot-com boom of the late 90's. What was interesting to note was the slump in the markets following that speech that observers felt that the industry did not take heed of the warning that was the underlying meaning of the phrase.
We, of course, don't use the phrase so professionally nor do we have any implied meaning to it, but it goes to show the thought process behind using such language in the first place, to denote or predict a negative occurrence by so discreetly putting it, yet at the same time keeping the cat away from the birds. Putting ahead ideas and thoughts in writing, subtly yet surely, away from the eye of the casual onlooker, is truly the art of a genius. Perhaps this is what the markets need today - irrational exuberance is definitely around the corner.
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