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