For now, loose monetary and fiscal policies will continue to fuel asset and credit bubbles, propelling a slow-motion train wreck.
The warning signs are already apparent in today’s high price-to-earnings ratios, low equity risk premia, inflated housing and tech assets, and the irrational exuberance surrounding special purpose acquisition companies (SPACs), the crypto sector, high-yield corporate debt, collateralized loan obligations, private equity, meme stocks, and runaway retail day trading.
Nouriel Roubini Project Syndicate 30 June 2021
Upplägget Spac är en form av uppköpsskalbolag
WAITING FOR THE LAST DANCE
“So long as the music is playing, you’ve got to keep dancing. We’re still dancing.”