Mar 28, 2010

Alan Greenspan on the China bubble

There are significant bubbles in Shanghai and along the coastal provinces, but there’s some of that going back into the hinterlands as well. Remember that the bursting of the bubble by itself is not a big catastrophe. We had a dot-com bubble, it burst, and the economy barely moved.

~ Alan Greenspan, "Greenspan Calls Treasury Yields ‘Canary in the Mine',", March 26, 2010

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