Whether its new-fangled Japanese stocks, hi-tech internet company valuations,
multi-colored flowers, or mansions made affordable by criminally lax lending
standards, Grant Williams notes that a bubble is a bubble is a bubble;
and citing Stein's Law: "If something cannot go on forever; it will
stop." In this excellent summary of all things currently (and
historically) bubblicious - whether greed-driven or fear-driven - Williams
concludes it is never different
this time as he addresses the four phases of the classic
bubble-wave: smart-money, awareness, mania, blow-off (or crash) and
explains how government bonds are set to burst and gold is only just about to enter its mania
phase. This far-reaching and entirely accessible presentation is
stunning in its clarity and as he notes, while bubbles are always easy to spot
ex-ante, understanding how they come about and why they are popped gives the few
an opportunity to profit at the expense of the madness of crowds. From tulips to
tech-wrecks, and from inflation to insatiable stimulus, the bubble in
'safe-haven flows' that currently exists has all the characteristics of a
popular delusion.
The first 9 minutes provide all the required background.
The next 10 minutes addresses the details of debt, government largesse, and why government bonds are 'peaking' and gold is about to explode - as the safe-haven 'tie' between the two is about to be smashed apart...
The first 9 minutes provide all the required background.
The next 10 minutes addresses the details of debt, government largesse, and why government bonds are 'peaking' and gold is about to explode - as the safe-haven 'tie' between the two is about to be smashed apart...
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