[dragonwriter]

> Well, during the mortgage crisis, very few economists would actually claim it was a bubble.

During the mortgage crisis, basically every notable economist and economic commentator was calling it a bubble; some had been for several years, and some only very late (but still before it popped), but it absolutely is not the case that the concept was rare my stated.

The closest your statement is to truth is that there weren't lots of people accurately predicting the timing of the bubble popping, but that's a different thing than recognizing the bubble.

> For the dot-com bubble it was much the same.

It's true that he dot-com bubble was much the same as the mortgage bubble, but only in that it equally did not match your “no one was calling it a bubble” description.