Irrational Panic Backed By Immoderate Governance

Can be used to describe the current economic environment. Here are some definitions:

• Irrational: Totally based on emotions and non-founded believes; not endowed with reason or understanding; lacking usual or normal mental clarity or coherence; not governed by or according to reason. Usage: “Bubbles are fueled by irrational exuberance”, “Many businesses are still run by irrational gut feel”.
• Panic: a sudden overpowering widespread fright with acute extreme anxiety concerning financial affairs that results in a depression of values caused by extreme measures for protection of property. Usage: “A house flipper panicked when house prices dropped”, “Companies panic during a downturn”.
• Backed By: Supported; guaranteed; secured. Usage: “Mortgage Backed Securities”, “Asset Backed Securities”.
• Immoderate: Exceeding what is usual, proper, necessary, or normal. Synonyms: Excessive, inordinate, extravagant, exorbitant, extreme. Usage: “The government used immoderate measures for bailout plans”, “Companies are being overly defensive and in immoderate downsizing mode”.
• Governance: Direction or control of a continuous exercise of authority over and the performance of functions. Usage: “Total governance choked the economy”, “Companies loosened governance only to be surprised by fraud”.