The looming economic bubble

The Epoch Times/Conrad Black

Repost from 9-21-2021

antique image of Mackay Bubble Card South Seas scheme

“While the United States, and to a lesser extent the West generally, is being subjected to a variety of threats and disappointments, and there is a natural aversion to highlighting additional negative developments that could be looming, it would be comforting if we heard anything from the secretary of the Treasury or the chairman of the Federal Reserve about the current apparition of a gigantic financial bubble over the United States.”

USAGOLD note: Maximum bubble status has always correlated historically with maximum belief that nothing bad can happen – that somehow this time is different. In this in-depth analysis, Black reminds us of J.P. Morgan’s famous dictum: “Like a tree, the market cannot grow to the sky.”

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