[ashtonkem]

80 years is short enough that we can’t be confident that it’s some rule of human societies, but it’s also much longer than any other recorded bubble has ever lasted. At 80 years the burden of proof is beginning to shift from those who think the system will work tomorrow the same as it worked today, and onto those that are predicting doom and sudden change.

I’d also like to point out that prior to the current system, market panics occurred significantly more often than once in 80 years. So if we’re comparing the system we have today and the system that existed 80 years before it, the current system seems measurably more stable.