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Economics
Irrational Exuberance
When investors get so excited about rising prices that they keep buying even when things are clearly overpriced and risky.
Irrational exuberance creates bubbles. People buy because prices are going up, not because the companies are actually worth that much. When reality hits, prices crash.It's like everyone at a concert rushing the stage because the music is loud and fun, even though the stage might collapse.
Real world: Alan Greenspan used this phrase before the dot-com bubble burst in 2000 when stock prices were crazy high with no real profits behind them.
💡 When everyone says 'this time it's different' and prices are skyrocketing with no reason, that's irrational exuberance — be careful.