Irrational Exuberance

Jan 15

This article appeared in the Jan/Feb 2009 issue of Islamic Horizons, Page 26. In December 1996, then Chairman of Federal Reserve, Alan Greenspan said, “But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions…?” Immediately after he said this, the stock market in Tokyo...

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