JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good, a theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash:

"Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929."

> amazon, Facebook, and google. Doesn't make it a bubble

Yeah. Well.

Funny thing about "bubbles", they're usually reliably identified only after-the-fact...

So far I have never heard my non-technical acquaintances talk about making payments with bitcoin. I have only heard them talk about investing in bitcoin, which sounds very bubbly.