We’re In Uncharted Economic Territory
We’re in uncharted territory …
For example, this is the first time in history that most central banks worldwide have printed money during the same time period.
And one of America’s leading economists (Nobel-prize winner Robert Shiller) just said that – unlike 1929 – this time, stocks, bonds and housing are ALL overvalued:
This time around, bonds and, increasingly, real estate also look overvalued. This is different from other over-valuation periods such as 1929, when the stock market was very overvalued, but the bond and housing markets for the most part weren’t. It’s an interesting phenomenon.
There’s a connection between the two unprecedented events …
Money printing sucks money out of the real economy, and throws it at the wealthy … who use it to speculate on stocks, bonds and housing.
Indeed, the central banks have consciously been focusing all of their efforts on blowing asset bubbles …
But the bigger they come, the harder they fall.
