This firm held the Case-Shiller price index up as a trend that absolutely should have warned executives of a major event over the horizon. The historic inflammation of asset prices looked to us to be the symptom of something heavy on the horizon, not necessarily the high score on a video game.
With irrational exuberance all over the housing markets in Boston, Boulder, San Francisco, and other markets where they do apps and lobbying rather than manufacturing, the price index is looking exactly like it did in 2005.
Dare we ask if this is a bubble again? That may not be the right metaphor – but if you have a better one, let’s hear it in the comments.