The mother of all bubbles

The idea of America as an exceptional nation, superior to its rivals and therefore destined to lead the world, seems passé to most observers. In political, diplomatic and military circles, the talk is of a dysfunctional superpower, isolationist abroad and polarised at home. 

But in the investing world, the term “American exceptionalism” is hotter than ever.   

 As a result, the US accounts for nearly 70 per cent of the leading global stock index, up from 30 per cent in the 1980s. 

And the dollar, by some measures, trades at a higher value than at any time since the developed world abandoned fixed exchange rates 50 years ago.

This is not a bubble in US markets, it’s mania in global markets.

Ruchir Sharma Financial Times 2 December 2024

The writer is chair of Rockefeller International. His latest book is ‘What Went Wrong With Capitalism’ 

https://www.ft.com/content/49cca8d7-7b6e-47e3-a50c-9557d7c85fc0


 March 2022: the Fed purchased $1.4 trillion in asset at a time when it was pretty clear that the development of Covid vaccines and the Biden administration’s immense fiscal stimulus would obviate the need for the added monetary stimulus. 

https://englundmacro.blogspot.com/2024/12/the-feds-next-big-policy-rethinking.html


Ruchir Sharmas högaktuella bok visar att kapitalismens problem är en stor och växande stat

Mattias Svensson SvD 23 augusti 2024

https://englundmacro.blogspot.com/2024/08/ruchir-sharmas-hogaktuella-bok-visar.html


Tillbaka till Rolfs länktips 2 ecember 2024

https://englundmacro.blogspot.com/2024/12/rolfs-lanktips-2-ecember-2024.html






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