A Quote by Carl Icahn
Yellen’s comments suggest, and I agree, that we are in an asset bubble.
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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
The problem is that you're creating a system of bubble finance where interest rates are so low that people can speculate. An asset value goes up. You put it up as collateral. You borrow against it. You buy more of the asset. You then take the rising asset. You borrow against it again. This is the nature of what's going on in the world. This isn't an excess of real savings. This is an excess of artificial credit that's being fueled by all the central banks.
I pretty much read reviews and comments only looking for the negative. Literally, when I read positive comments, it's like a zero. I think the issue is if you agree with it or not.
The ultimate asset bubble is gold.
Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.
You have a real asset-price bubble in places like parts of California and the suburbs of Washington, D.C.
Comments that suggest that Muslims should be banned from the United States are offensive and unconstitutional.
You have to say that we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically.
I think the Bible is hugely patriarchal. There are so many sexist comments and homophobic comments and comments that are not in keeping with nurturing and loving the human spirit.
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
The way you create deflation is you create an asset bubble.
The propensity to swindle grows parallel with the propensity to speculate during a boom the implosion of an asset price bubble always leads to the discovery of frauds and swindles
I think we all agree that the comments Donald Trump made in relation to Muslims were divisive, unhelpful and wrong.
I think we have a bubble in the US in government bonds, because of the quantitative easing and the negative real interest rates, and to some extent, that increases asset values across the board, including in startups.
The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.
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