TBeek I was on a rant during your geonomics posts. Good stuff. I agree.
Henry George writes quites a bit about speculation(what we call bubbles). A point made being, speculation causes a runaway effect which can only go so far, then must stop while wages and capital catch up. When they do speculation makes another run.
I have a tendency to oversimplify matters, but I understand his intent was to demonstrate a prevailing reason for the boom/bust cycle. Do you believe that is the case here/now?