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.
I have found that words that are loaded with pathos and create a seductive euphoria are apt to promote nonsense.
There are two things in New York, euphoria and disaster.
Being in your forties - any woman who isn't there yet, I just have to say to you: Euphoria is coming to you.
There isn't quite a feeling you get from playing video games that you get when you're playing sports, which is like a sense of euphoria. You just get the satisfaction of doing something active and feeling good after.
Individuals approaching death often experience encounters with their dead relatives, who seem to welcome them to the next world. These deathbed visions are authentic and convincing; they are often followed by a state of euphoria and seem to ease the transition.
Indeed, bull markets are fueled by successive waves of prior skeptics finally capitulating as their fears fade. Eventually, fear turns to euphoria, and that's the stuff of bubbles.
Though the euphoria surrounding Barack Obama's election last week as President-elect has not yet begun to subside, it is already time to recognise that the most important challenge facing the next U.S. president is to restore America's standing in the eyes of the world.
There is no planning. On the night it is really great, it's euphoria and if it is not so great there is always tomorrow night. That was his attitude.
The euphoria around economic booms often obscures the possibility for a bust, which explains why leaders typically miss the warning signs.