THERE’S been a lot of agonising about bubbles lately. The signs of excess are hard to miss, from GameStop Corp and bitcoin to the extraordinary rally in US big tech.
Even China has joined the drumbeat of concern, with the nation’s most senior banking regulator saying last week he’s “very worried” that bubbles in US and European markets could burst.
Whether a bubble exists is a matter of keen interest for investors, who naturally want to know when to get out if there’s a crash coming. It’s also crucial for policymakers, who have to deal with the aftermath.
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