English 412

English is a big problem in Nigeria. Sometimes, I feel like telling some people to "sharrraaapppp!   and resit WASC".

It's different if you didn't go to school. But for a secondary school leaver to still say "He have", is simply not acceptable. It's spoken even in some high places, by some big Ogas. And I keep wondering. 

Did they write their WASC in native language? How have they been coping with appraisals which surely have "Communication Skills" as an item? 

"Those people says"😊

"Sometimes ago...."😕

"She want to...." 

"I have attach.... "

"Please find attach the document"😕😕😕

In Lagos of all places? 

No!  My friend, go back to school😕

Things have really fallen apart. Many of our fathers didn't pass through the University. Many stopped at Standard Six. 

But check out grammar and calligraphic.  You won't believe. 

With that, they moved our Railways, our P & T,  our Leventis, our Kingsway stores! They didn't disgrace us before our colonial masters. 

But today? 

We even disgrace ourselves with our grammar and all you need is to pay attention, read novels and generally make efforts. 

This is just by the way. 

Today,  I want us to make an attempt in distinguishing between two words: "Civilian" and "Criminal".

What could possibly be the difference? 

I thought a "Criminal" could also be a "Civilian" and vice versa. 

See what set me thinking!

"They're civilians and not criminals" - Mr Putin, President of Russia on the two men being accused of administering  some nerve agents to two people in the UK. 

For a long time, politicians have confused us with "political English":

*men of timbre and calibre

*heating the polity

*ambassador at large

*ambassador extraordinary and plenipotentiary(K.O. Mbadiwe😊).  Surprisingly, this is also recognised and used in the US and simply means "an ambassador with full powers to represent his country".

Recently,  even before they came out clean, we proved it here that NNPC was selling their imported petroleum products at below cost price. 

People called it a "subsidy". They refused but admitted it hits our "foreign reserves"😊

And I kept wondering. 

So,  when Mr Putin said what he said, I decided to find out. 

Definition 1!

"Merriam-Webster Dictionary - SINCE 1828

 

Definition of criminal

1 : relating to, involving, or being a crime, criminal neglect, a criminal organization

2 : relating to crime or to the prosecution of suspects in a crime, criminal statistics, brought criminal action, the criminal justice system

3 : guilty of crime; also : of or befitting a criminal, a criminal mind

4 : disgraceful

It's criminal how unfunny this comedy is. —Rick Bentley"

Definition 2!

"Wikipedia! 

A civilian! 

A civilian is "a person who is not a member of the military or of a police or firefighting force". The term "civilian" is slightly different from a non-combatant under the law of war, as some non-combatants are not civilians (for example, military chaplains attached to the belligerent armed forces or neutral military personnel). Under international law, civilians in the territories of a party to an armed conflict are entitled to certain privileges under the customary laws of war and international treaties such as the Fourth Geneva Convention. The privileges that they enjoy under international law depends on whether the conflict is an internal one (a civil war) or an international one.".

Still no solution😊

I went further and goggled "difference between a civilian and a criminal".

I found something and it's beginning to make sense! 

"Difference between a criminal and a civilian!

Civil identification determines if the person has any prior criminal arrest record. 

Criminal is for determining the individual's prior record and/or recordings.

Fingerprint records are maintained in civil and criminal repositories in America. Civil fingerprint identification, such as occurs with police or soldiers entering into public service, is the recording of a person's fingerprints primarily for the purposes of:

Determining the person has no prior criminal arrest record.

Verifying the person's identity at a later date.

Criminal fingerprint identification is the recording of an arrested person's fingerprints primarily for the purposes of:

Recording the arrest and/or conviction information in a permanent file associated with that person.

Determining the person's true identity if they have used other names for previous arrests.

Determining the person's prior arrest/conviction record.".

See what I can figure out! 

Putin was trying to say those people did not have prior criminal records. They were therefore not known hit men sent by Russia to wreck any havoc. They probably acted on their own, if at all. 

Recall Mr Putin and Russia couldn't deny outright this time around. Britain captured those men on their CCTV from train station to train station until they flew out. No escape route! 

The world of spying and intelligence is interesting but dangerous. Once you're caught, you're strictly on your own. All negotiations are not open. 

Not many countries will publicly own up their spies (who love me - remember that film?😊)

Please keep your money - it's still a free class. So your sin will not be on my head if you "mud financially"😕

Someone just committed suicide in Abuja 2 days ago. A man with family. He left a note he couldn't push it any longer. He could no longer feed his family and nothing makes sense again(Recall staples like yam are off the menu now. Bread just might follow soon. Floods are devastating farmlands from where the rampaging herdsmen stopped. So,  Financial Derivatives projected our inflation rate has bottomed out at about 11.15%. It can only go up from here.) 

He took "oke rie onwuo"(rat poison) and bade this sinful world goodbye. 

It's such a pity. A great pity! 

I remain Sam

Not Too Young To Run

I'm beginning to see why "old soldiers should die"😕

I'm tired of hearing "old soldiers no dey die". Or is it "never die?". Whatever it is, "Old soldiers should die"😕

The young looks at history, makes his unbiased judgments and expresses his mind freely. The old is part of history and always has a skeleton in his cupboard. He will cover up that history at all costs. 

Imagine seeing this on the pages of newspaper! 

"Nigeria apologies to Biafra for genocide and barbarism"

That will be the day! 

Tell me who will apologize: Jack?  Olusegun?  Shehu?  Ebele? Muhammadu? 

Those were part of history and not in a position to say "let the truth be told, I couldn't care less".

They were part of history, directly or indirectly. 

The Igbos suffered during the war. Though small, we told how it started. The senseless killings, the looting. People were shot in front of their wives and children. People that escaped were caught in Benue state and finally wasted by our very neighbors. Pregnant women were sliced open. 

God save the Queen! 

You can practically walk from Benue state to Enugu State. It's a walking distance. It's home but people were massacred there. 

Instead of "I'm sorry", Jack declared "no Victor no Vanquished".

The truth is that the Igbos were vanquished. They remain vanquished till this day. 

In Government, we're grateful for just anything we get. We say "Thank Sir". You really can't be a man of your own or you will be removed with ignominy. 

In the corporate world, you're simply dominated. Let the truth be told "k'ifele mee ekwensu" - so the devil will be ashamed. 

The truth hurts!  So badly!

So,  if you're non Igbo reading this, I understand your pains. I just stabbed you. 

Sorry now!😊

But try and understand me. It's a bit painful too on my side and you can't even see it.😕

The oppression continues till this day!

People grow up and hear stories. They say No! We must talk about this. 

They negotiate hard by saying "we still want that Biafra that wasted us in compensation".

Someone once told me, that in their house back in those days, his dad had a VW Beetle car and a Mercedes 200. The first day he wanted to move that Beetle,  he asked the Dad for the Mercedes. 

And his Dad raked! 

"You're a very stupid boy, can't you see the Beetle".

And the guy was so glad at his strategy. He very well knew that if he went for the Beetle, the Dad would have responded:

"My friend, na crase dey worry you".

And he would have got nothing! 

So,  these young Igbo boys,  went for their Mercedes and got "proscription"🤣

Miyetti Allah went for their Mercedes in Middle Belt - to conquer and acquire. Waste anything on your way. 

They got their Beetle - "Gov Ortom, please accommodate your countrymen".

Right in the same country with the same "National Pledge"😊

Miyetti Allah became a law. Infact, the law. 

It's painful no matter how much we want to pretend. It's a bit hurting. 

And my hurt was just increased suddenly by President Macron of France. 

Macron admits! 

"132 years of rule in Algeria by France involved crimes of barbarism" - Al Jazeera. 

Macron remains the only French President to-date born after the Algerian war. Algeria got independence in 1962. 

France remains close to its colonies:

*They issue the currencies of 14 African countries till this date.

*They still assist them manage their Treasuries till this date. 

And yet, the wound never healed in Algeria. 

Macron has authorized the opening of a meseum  on  the France-Algerian war that led to the independence of Algeria. Then,  made that comment that got me happy but took me back more than 50 years ago. 

But gists from Nigeria is that "History has been banned in our schools".

I wonder how we shall heal and drop attempts to "sit at home" and remember "fallen heroes".

I really wonder! 

I remain Sam

CC:  Someone had earlier written in with comments on my earlier teaser:

"Good evening Sir. 

I love your well-timed rendition@Kolomental. Our country has got this perennial mental case since Independence. No be today our leaders and representatives don dey yan nonsense. We have enough mental cases in high and low places.

Election time is here again. This is another ideal season to display how much craze and mental cases we've got around. Also very unique is the fact that they are self diagnosed.   " In fact, let us expect more mental cases ahead of 2019.  

Another time mental cases feature in Nigeria is during a crisis. Most of our leaders lack the rudimentary tact of handling crises generally. This is another mental case. Their brains lack accommodation for critical reasoning or problem solving.

Hmmm.....Make we just dey watch but we no go join dem to start to dey craze.

Honestly,  I have never given that song a thought as I couldn't see the need but definitely not after this your well articulated release of the lyrics. 

The recent happenings in  our political terrain have done justice to the song as e come dey make sense.😊

There are other of such songs I found really noisy in the past but which later turned out to be a reflection of our leaders character traits of bad governance:  e.g.

* Nigeria Jaga jaga, everything scatter scatter......by Idreez Abdulkarim

*Foodoo no dey, brother water no dey. Rich man go dey halafia, poor man go dey shout anwulame.... . by African China.

I tire not be small on top Naija matter. 

The only true and sincere Nigerian President/Head of State in the history of Nigeria.

Alh. Shehu Shagari!

He is old now and has never really been visible since after his tenor. I wish we could really honor people like this that are deserving. He is the only President of Nigeria worth any sincere honours.

He was dethroned by..... (let's just say the Army) "maka ndi uta"🤣. But like the late Dele Giwa wrote in his Newswatch Magazine "Shagari knew nothing, saw nothing, did nothing" - referring to the purported corruption in his Govt. We now know that his Govt was just a "trainee in corruption". They really didn't know how to steal in billions or "cut grass" in billions😀

President Shehu Shagari, unlike his letter writing counterpart/others, has been the only American style President in Nigerian history from Nnamdi Azikiwe.

Have you observed something?

American Presidents rarely comment or criticize their successors - very rarely. They believe they had their turn and others deserve their own turn without "hate speeches"😊.

President Shagari was also the only Nigerian President that "was literate". He was a formally a teacher.

All others can not read though they can write🤣

Yes oh!  If you can read,  then as a President, you start with reading the Nigerian constitution. You would easily observe that there is no provision in our constitution for the revered Office of the First Lady at both National and state levels. None!

The News broke yesterday that Her Excellency Aisha Buhari's aide was arrested for a N2.5b fraud!!!

Waoh!

From where?  Who funded that fraud when we can't fix our roads or fund capital projects without "borrow pose" or selling off our assets in a hurry? Who did that funding and from which constitutional expense heading?

Could that be why Mike Ozekhome (SAN, OFR) said we run a "one scandal a week Govt?". Oga SAN,  I thought it was a "hate speech" until this news broke. Now,  you deserve to be called "Double SAN". Afterall,  we have "Double Chief".

Check out history!

"Wikipedia

First Lady of Nigeria

Incumbent - Aisha Buhari
since 29 May 2015

Inaugural holder - Flora Azikiwe

Formation 1963

The First Lady of Nigeria is an informal, but accepted title, held by the wife of the President of Nigeria. The current First Lady is Aisha Buhari who has held the title since 29 May 2015.

The Constitution of Nigeria does not create an office for the country's First Lady or potential First Gentleman.

 However, official funding and staff have been allocated to the First Lady of Nigeria since the country's independence. The First Lady is addressed by the title, Her Excellency.

Stella Obasanjo is the only Nigerian First Lady to have died in office.

First Ladies of Nigeria/
Name Term Begins/ Term Ends /President or Head of State!

*Flora Azikiwe - 1 October 1963 - 16 January 1966/ Nnamdi Azikiwe
Victoria Aguiyi-Ironsi - 16 January 1966 - 29 July 1966/ Johnson Aguiyi-Ironsi
*Victoria Gowon - 1 August 1966 - 29 July 1975 /Yakubu Gowon
*Ajoke Mohammed - 29 July 1975 - 13 February 1976 /Murtala Mohammed
*Esther Oluremi Obasanjo - 13 February 1976 - 1 October 1979/ Olusegun Obasanjo
*No First Lady -1 October 1979 - 31 December 1983 Shehu Shagari
*Safinatu Buhari -  31 December 1983 - 27 August 1985/ Muhammadu Buhari
*Maryam Babangida - 27 August 1985 - 26 August 1993 Ibrahim Babangida
*Margaret Shonekan - 26 August 1993 - 17 November 1993/ Ernest Shonekan
*Maryam Abacha - 17 November 1993 - 8 June 1998/ Sani Abacha
*Fati Lami Abubakar - 8 June 1998 - 29 May 1999/ Abdulsalami Abubakar
*Stella Obasanjo - 29 May 1999 - 23 October 2005 (Died in office) *Olusegun Obasanjo
Office vacant - 23 October 2005 - 29 May 2007 /Olusegun Obasanjo
*Turai Yar'Adua - 29 May 2007 - 9 February 2010/ Umaru Musa Yar'Adua
*Patience Jonathan - 9 February 2010 - 6 May 2010 /Goodluck Jonathan (acting)
*Patience Jonathan - 6 May 2010 - 29 May 2015/ Goodluck Jonathan
*Aisha Buhari - 29 May 2015 Present/ Muhammadu Buhari"

History doesn't lie,  especially if well captured.

Some people have even given us two First Ladies each when many women "never see chop"

I remain Sam

South Africa, watch it! Lest you fall!

You remain the "only London" we have in Africa. The only country "fulu uzo"(wey see road).

You people were even in the nuclear race before North Korea and the later day "Rocket men". You took a conscious decision to shut it down.

Nuclear technology is not witchcraft or Nigeria would have gone to the moon before America and Russia led by "amosu n'amagba" from Kogi state🤣

Nuclear race involves a lot of thinking and a lot of technology, the exclusive preserve of oyibo today. Yes oh!

We're still at "keke napep" level. We celebrate it as a technological breakthrough in Abia and Anambra state,  incidentally coinciding with when oyibo man was taking off to the ☀.

I shook my head. I won't question God. He is all knowing and knows why he created:
*Sense and nonsense
*brain and no brain
*thinking and thoughtlessness
*good and bad.
*black and white
*planning and lack of it.
*time keepers and "ogbuoges"(time killers)
*timeliness and African time
*prosperity and poverty
*the middle belt and the Fulani herdsmen
*votes and buying votes
*cutting of grass and importing of grass at the same time🤣.

I have not visited South Africa but I gather it's a place to beat. Forget the slums - those are your brothers living there. Don't you have slums in Orile, Ajegunle, even Festac is turning into a slum after a beautiful Festac '77.

A little history for the benefit of our kids won't hurt!

""Wikipedia!

FESTAC 77!

Festac '77, also known as the Second World Black and African Festival of Arts and Culture (the first was in Dakar, 1966), was a major international festival held in Lagos, Nigeria, from 15 January 1977 to 12 February 1977. The month-long event celebrated African culture and showcased to the world African music, fine art, literature, drama, dance and religion. About 16,000 participants, representing 56 African nations and countries of the African Diaspora, performed at the event.  Artists who performed at the festival included Stevie Wonder from United States, Gilberto Gil from Brazil, Bembeya Jazz National from Guinea, Mighty Sparrow from Grenada, Les Ballets Africains, South African Miriam Makeba, and Franco Luambo Makiadi. At the time it was held, it was the largest pan-African gathering to ever take place.

The official emblem of the festival was a replica crafted by Erhabor Emokpae of the royal ivory mask of Benin. The hosting of the festival led to the establishment of the Nigerian National Council of Arts and Culture, Festac Village and the National Theatre, Iganmu, Lagos. Most of the events where held in four main venues: the National Theatre, National Stadium, Surulere, Lagos City Hall and Tafawa Balewa Square.""

Don't even bring up here that thing you have in mind😕. We have people shinning abroad,  innovating abroad. Let them come and shine here now😕

Please add to the above list:
*team work and individual stardom(na only me do am. na only me go chop)😕

"ifee Eze, Eze eluogi" - if you respect the King, kingship will beckon at you.

"nwata kwo aka, o solu okenye lie nni" - if a child washes his hands, he will be at the dining table with the adults.

I'm not the only one thinking this way!

"ANC is turning into a black party" - President Thabo Mbeki.

Black is beautiful but "na for only skin".

But there just may be light in the tunnel.

When I read that Sweden just voted out their incumbent Prime Minister, I said to myself:
*It happened recently in Sierra Leone and they just might make progress
*It happened recently in Ghana and they are taking off. Forget they are doing "Nigeria must go". We started it with "Ghana must go". Do me I do you, God no go vex.🤣
*You must be following happenings in Maldives. They just sacked their sitting President. They voted him out.

Could all these "sudden deaths" above be responsible for the recent "love I go die" between PMB and Aisha our able First Lady? Forget they're saying her ADC might have just stolen N2.5b. They now travel together ever more often. China the other day, United Nations meeting currently. Just  "dey gbadu"😊. I don't blame them. That Osun State "inconclusive" status is fearful, with Davido warming up to "sing and dance" to the Govt House "to wash" his Uncle. In PMB's shoes,  I would have gone with all my children just in case what just happened in Sierra Leone, Ghana and Maldives repeat themselves here.

"Incumbency ko, sitting President ni" - they moved out the sitting Presidents in those countries to tell Sweden and France that "no be only una don see road"😊

It's midweek. God bless your endeavors.

I remain Sam
CC: Abeg, let's listen to sensible people!

"Nigeria may go back into recession due to non implementation of the budget" - CBN Governor

"In Nigeria, it takes an average of about 6 months  to pass the Federal Government's budget from the day that it is presented. This clearly makes the effective implementation of the budget almost impossible. What conscious efforts can be put in place to ensure a change in the budget cycle?

Join the discourse at the NES#24.

Register online: www.nesgroup.org

Asset Bubble

This is an MBA class. However, I won't charge my usual $100/handout. It's a free class because I know you just borrowed to pay school fees or emptied your account "wey dey find who go empty am before"😊

Bros,  don't even deny that you borrowed this September for school fees😕

"Na we-we now". We know each other. 

And if you continue denying, I will ask GT Bank,  Diamond Bank, StanbicIbtc, First Bank and co to publish the list of school fees borrowers.  One page of color advert is not less than N500k in national newspapers and they have been advertising the "school fees borrowing program dailily dailily". Are those adverts for ghosts?  If not for you,  won't they shut those adverts down?

Just one more denial,  they will publish "ka pitipiti kwe n'iru efvi"😕

Anyway,  today's class is on Asset Bubble!

I saw a former Governor of The People's Bank of China (their CBN) warning China of Asset Bubble. 

I can't remember his name but it won't be more than "Xi" or "Ju". Chinese people are busy and don't waste time with names. 

In Nigeria, if the name is not long and tongue twisting, then we haven't started - Onyekachukwu,  Chukwusolukwue,  Chimeremeze😀

Leave that argument that our names have meanings. How has that helped grow our GDP? 

"Osayumamem" - one person's name😕. From this alone, you can name 5 Chinese. 

And so we spend half of the day in Nigeria just trying to call people's names. Leave all those English names the Chinese answer like Michael. They're business names they adopt once leaving China so they can relate. 

But who even told us that Chinese names don't have meaning? Who told us that "Ma" does not mean "Money"?.

Talking about "Ma", Jack Ma, founder of "Alibaba.com" has an interesting life history. 

Hear CNBC! 

"When China decided to open up to the world, Jack Ma was just a tourist guide,  just guiding visitors to China. That was how he learnt English and would later become an English teacher. He tried to improve himself by getting higher paying jobs. He went for three interviews including to work in a hotel but they all bounced him that he was not good enough. When the idea came to him to put China on the world map by establishing Alibaba.com,  he approached not less than 30 Venture Capitalists and they all bounced him. Infact, one of them told him to keep to his English classes and grow there😊. But he was unrelenting. He called in 12 of his friends and sold the idea. But there was a problem! Non of them save 2, including Jack Ma, could use a computer. Frustrations! Until he found himself in the US. They did 'ogwu ego' for him and he became a multi billionaire  👏 👏 👏. Still he didn't know how to carry himself as a billionaire in US dollars. He was repeatedly told by his handlers to 'puff his shoulders' a little bit more as a Billionaire🤣. Today,  Jack Ma is tired. He wants to hand over Alibaba and go back to teaching. That's the only thing that appeals to him now. Speculations were that he might quit last Monday. Jack Ma feels that sometimes, it's better for a fool (probably a wise fool😊) to lead smart people.".

That's Jack Ma! 

But you borrow to pay school fees. Borrow to pay house rent.😕

"Ebele gi emegbugom"😕

The other time, I advised you that "piggy banks" are not for only children and that you should have one. Babas!

I advised you to put the children in schools you can afford without "borrowing around". "Otu awu n'ezi"😕

Take the handout below for free and see how you can improve yourself my brother. 

"Onodu gi n'esizi isi"😕

I remain Sam 

CC:  Asset Bubble!

BY KIMBERLY AMADEO  Updated August 07, 2018

An asset bubble is when the price of an asset, such as housing, stocks or ​gold, become over-inflated. Prices rise quickly over a short period. They are not supported by an underlying demand for the product itself. It's a bubble when investors bid up the price beyond any real sustainable value. These price spikes often occur when investors all flock to a particular asset class, such as the stock market, real estate or commodities. Such a bubble is also called asset inflation.

Three Causes!

Low interest rates are the most frequent cause of an asset bubble. They create an over-expansion of the money supply. Hence, investors can borrow cheaply but cannot receive a good return on their bonds. So they look for another asset class. 

The second biggest cause is demand-pull inflation. That's when an asset class suddenly becomes popular. As asset prices rise, everyone wants to get in on the profits. But the consumer price index does not always accurately capture this form of inflation. So policy-makers overlook it. 

Third, a supply shortage will aggravate an asset bubble. That's when investors think that there is not enough of the asset to go around. They panic and start buying more before it runs out.

Examples!

2005 - Housing. An asset bubble occurred in real estate in 2005. Credit default swaps insured derivatives such as mortgage-backed securities.  Hedge fund managers created a huge demand for these supposedly risk-free securities. That created demand for the mortgages that backed them.

To meet this demand for mortgages, banks and mortgage brokers offered home loans to just about anyone. That drove up demand for housing, which homebuilders tried to meet. Many people bought homes, not to live in them or even rent them, but just as investments to sell as prices kept rising. When the homebuilders finally caught up with demand, housing prices started to fall in 2006. That burst the asset bubble. It created the subprime mortgage crisis in 2006. That led to the banking credit crisis in 2007 and the global financial crisis in 2008.

2008 - Oil. The asset bubble started in the summer of 2008 with oil prices. Investors got out of the stock market in 2007 and started investing in oil futures. At first, they thought that demand from China would outstrip supply due to a mild shortage in Nigeria. But demand fell that year, due to the recession, while supply increased. That didn't stop the asset bubble from creating high oil prices. They set a record of $143.68 a barrel in July 2008.

2011 - Gold. Gold prices reached a record high of $1,895 an ounce in September 2011. They started rising in 2009, reaching a record high of $1,081 in November. Investors bought gold as a hedge against the global financial crisis, not for its value in producing jewelry or dental fillings. Many thought the global economy would recover quickly. When it didn't, gold prices just kept rising for two more years. Gold, the "ultimate bubble," burst when the anticipation of further inflation dropped.

2012 - Treasury Notes. On June 1, 2012, Treasury yields hit a 200-year low. The yield on the 10-year Treasury note briefly hit 1.442 percent during the day, closing at 1.47 percent. The Fed had been buying $85 billion a month in Treasurys since September 2011. It kept rates low, boosting demand.

Second, investors were worried by high unemployment and worsening of the eurozone debt crisis. They sold off stocks, driving the Dow down 275 points, and bought the safe-haven U.S. Treasury notes. As a result, mortgage rates also dropped. That helped revive the housing market. There is a direct relationship between Treasury notes and mortgage interest rates. When Treasury yields rise, the interest rates on fixed-rate mortgages also increase and vice-versa.

By 2013, interest rates started to rise as the Fed hinted it would begin winding down its purchases of Treasury notes in September. Treasury yields rose 75 percent between May and July. The Fed postponed its intended course of action when the government shut down in October. The yield on the 10-year Treasury remained between 2.5 and 2.8 percent. 

2013 - Stock Market. The stock market took off in 2013. By July, it had gained more points than any year on record. On March 11, the Dow Jones Industrial Average closed at 14,254.38, breaking its previous record of 14,164.43 set on October 9, 2007. On May 7, it broke the 15,000 barrier, closing at 15,056.20. It broke the 16,000 barrier on November 21, closing at 16,009.99. The Dow set its high for the year at 16,576.55 on December 31, 2013. The Dow closing history exhibits the index’s trends since the Great Depression.

Price gains rose faster than corporate earnings, which are the underlying driver of stock prices. Companies achieved increases in earnings by cutting costs, not increasing revenue. Demand for many consumer products was weak since unemployment was still high, at around 7 percent, and average income levels were low. Investors were more concerned about whether the Fed would taper quantitative easing than they were about the real economic growth.

2014 and 2015 - U.S. Dollar. Forex traders stampeded into the dollar, which rose 25 percent between July 2014 and the middle of 2015. It happened when the U.S. Federal Reserve announced that quantitative easing would end in October. At the same time, the European Central Bank stated it would start QE. U.S. gross domestic product also dramatically improved. All these reflected American economic strength combined with weakness in the European Union and emerging markets, especially China.  The U.S. dollar index and euro to dollar conversion history both indicate how the dollar measures up to the euro at any given time.

The strong dollar hurt exports, lowering U.S. GDP in 2015. It also aggravated a drop in oil prices. That cost jobs in the oil industry. It also threatened the viability of many shale oil companies.

2017 - Bitcoin. In 2017, Bitcoin rose 955 percent, eclipsing the rise of any previous asset bubble. Its total market value was $16 billion in the beginning of the year. It was $171 billion by mid-December. On November 29, 2017, the price of a single Bitcoin reached a record high of $11,000. Hours later, it fell to $9,500. It started the year at $968.23.

One reason for Bitcoin's rise is that Japan's Financial Services Agency recognized it as a legitimate payment method in April. Japanese traders comprise 60 percent of the entire market. Bitcoin is a digital currency. It is a computer-based form of monetary exchange. No government or central bank controls, manufactures, or regulates it. In September 2015, the U.S. Commodity Futures Trading Commission designated Bitcoin as a commodity. 

How to Protect Yourself from an Asset Bubble

The hallmark of an asset bubble is irrational exuberance. Almost everyone is buying that asset. For a long time, buying that asset seems profitable. Often the price just keeps going up for years.

The problem is that it is tough to time a bubble. As a result, most financial planners recommend a well-diversified portfolio of investments. Diversification means a balanced mix of stocks, bonds, commodities and even equity in your home. Revisit your asset allocation over time to make sure that it is still balanced. If there is an asset bubble in gold or even housing, it will drive up the percentage you have in that asset class. That's the time to sell. Work with a qualified financial planner, and you won't get caught up in irrational exuberance and fall prey to an asset bubble.