Aug 10, 2014

Michael Belkin on the speculative bubble

I don't think people are really contemplating what they're doing in the stock market.  I do a Google Trends word search, tells you the number of times people look for a term.  And when you do that on the term "speculative bubble" it doesn't even register in July - zero.  Hardly anything in the headlines of news stories.  So nobody's even thinking... they're not calling this - which I consider to be the biggest speculative bubble of my career - beyond 2000, beyond 2007.  This is the everything bubble: junk bonds, stocks, tech stocks, you name it.  Everybody is in here for one reason and one reason only: because interest rates are low.  That's the definition of a speculative bubble.  It's created by phony interest rates.

~ Michael Belkin, August 9, 2014, interview with Eric King on King World News

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