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I agree there will always be bubbles - it's human nature in the form of greed. The height and crash are determined by how much liquidity and credit are available. So for that reason this time around there may be less heights and therefore less "crash" because there are a lot less people that can borrow on their home equity line or margin account to speculate on IPO's, etc.

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I agree with both of you that there will always be bubbles but recently bubbles have moved from one industry to another. e.g., savings and loans -> tech -> housing etc. I am just arguing that maybe the tech bubble on 2010s wont be as bad as the 1990s given the memory about recent history of this sector and the big bubble of 2010s may come from a different sector.

I have to agree it seems that many signals are pointing towards a big tech bubble, though personally I will wait to see the tech IPOs following the hype of Facebook IPO to call a definite big bubble.

What I find interesting is that people started talking about the agriculture boom around the same time they started talking about the tech boom. Do we have any precedence for multi-industry concurrent booms and busts?

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