‘Things Have Been Going Up For Too Long’ – Goldman CEO

Thursday, September 7, 2017
By Paul Martin

By: Mark O’Byrne
Thursday, 7 September 2017

– Lloyd Blankfein, Goldman CEO “unnerved by market” (see video)
– Bitcoin bubble is no outlier says Bank of America Merrill Lynch
– Bubbles are everywhere including London property
– $14 trillion of monetary stimulus has pushed investors to take more risks
– We are now in a new era of bigger booms and bigger busts – BAML
– “Seeing signs of bubbles in more and more parts of the capital market” – Deutsche Banks’ John Cryan
– Global debt bubble and China very vulnerable too – warns Steve Keen
– Bubbles, bubbles everywhere … lots of potential pins … got gold?

The B word is something which is almost whispered in financial circles. To acknowledge there might be a bubble somewhere is like admitting the proverbial elephant is in the room.

But, like many taboo words, it seems the mainstream are coming around to the idea that it is ok to mention the word ‘bubble’ and express their concerns about the possibility of at least one existing.

This week Goldman Sachs’ Lloyd Blankfein, Deutsche Banks’ CEO John Cryan and strategists at Bank of America Merrill Lynch have separately expressed concerns that there are signs of bubbles in the markets – from the obvious bitcoin bubble to the less obvious bubble in London and other property markets and bubbles in many stock and bond markets.

The most obvious one is bitcoin. Bitcoin is up 380% this year whilst the combined market cap of cryptocurrencies is up by 800%. However these are by no means anomalies according to analysts at BAML.

The Rest…HERE

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