Worldwide bubble (Finance)

[katty]

more:
http://www.thestreet.com/_breitbart/funds/followmoney/10353243.html?cm_ven=BREITBART&cm_cat=Free&cm_pla=Feed&cm_ite=Feed&puc=breitbart

Jeremy Grantham: All the World's a Bubble

How high will the Dow go? 15,000? 20,000?

How about 36,000?

While euphoria sweeps stock markets here and worldwide, there are at least a few voices of dissent.

One, unsurprisingly, is legendary value investor Jeremy Grantham -- the man Dick Cheney, plus a lot of other rich people, trusts with his money. Grantham, chairman of Boston firm Grantham Mayo Van Otterloo, has been a voice of caution for years. But he has upped his concerns in his latest letter to shareholders. Grantham says we are now seeing the first worldwide bubble in history covering all asset classes.

Everything is in bubble territory, he says.

Everything.

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'The bursting of this bubble will be across all countries and all assets.' -- Jeremy Grantham
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"From Indian antiquities to modern Chinese art," he wrote in a letter to clients this week following a six-week world tour, "from land in Panama to Mayfair; from forestry, infrastructure and the junkiest bonds to mundane blue chips; it's bubble time!"

[WannaJumpMyScooter]

1. Well, Grantham, smart as he may be... is wrong

on one thing...

"this has never happened before"

is not true.

The Roman Empire's fall was exactly this, on a smaller scale. Parts of Europe are still not completely over that.

[bemildred]

2. Yep, the singularity is getting closer. nt