Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
Modern elites live in bubbles of liberal affluence like Ann Arbor, Brookline, the Upper West Side, Palo Alto, or Chevy Chase. These places used to have impoverished neighborhoods nearby, but the poor people got chased out by young singles living in group homes, hipsters, and urban homesteading gay couples.
Real laughter is spontaneous. Like water from the spring it bubbles forth a creation of mingled action and spontaneity - two magic potions in themselves - the very essence of laughter - the unrestrained emotion within us!
The blessing of my mother is that she is so interested, she is so bright, she never complains - the joy of the Lord just bubbles out of her. Anybody who's in her presence is blessed to be there.
What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just exchanged their bad loans for questionable bonds from quasi-state organizations.