Many will no doubt remember the term ‘irrational exuberance’, which was used back in December 1996 by the then chairperson of the Federal Reserve Board, Alan Greenspan.
The phrase actually arose out of a rhetorical question posed by Greenspan some 14 pages into a speech delivered at the American Enterprise Institute. But its effect was far reaching, with it eventually being interpreted by the then dotcom-crazed financial community as a warning that the high-flying market was overvalued.
http://www.polity.org.za/page.php?rep_id=605
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