Thursday , 7 December 2023

Those Responsible For the Bubble Roiling Through the Financial World Having Second Thoughts

Now, even those responsible for the bubble roiling through the financial world are having secondbubbles thoughts.

  • Last year, Chinese property tycoon Wang Jianlin reckoned the thing that had elevated him into the nose-bleed section of wealth rankings, Chinese real estate, had become ‘the biggest bubble in history’ and he’s in good company.
  • Bill Gross, once the king of American bond trading, has been calling a bubble in bonds and US Treasuries for years, while
  • Bernard Arnault, of luxury goods outfit LVMH, reckoned asset prices were at “scary levels” and another financial crisis may be just around the corner.
  • There was the US Federal Reserve’s Stanley Fischer expressing concerns about debt and risks in the system before his boss,
  • Janet Yellen, said this during a keynote speech in London: “Asset valuations are somewhat rich if you use some traditional metrics, like price earnings ratios.”

The problem for Ms. Yellen, as it is for other central bankers, is that the bubbles they have formed—in property, stock and bond markets—are entirely of their own making.

The above comments are an edited and abridged synopsis of an article by Ian Verrender compliments of

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