Vitaliy Katsenelson, GuruFocus.com, 23 April 2009
One more bubble, please.
After the bubbles in technology, housing, and commodities, we saw the mother of all bubbles: the one in global liquidity. The world economy seemed to require bubbles for its continued functioning.
I get the distinct feeling that investors’ prayers are now being answered: There’s a new bubble now – or an old one is being re-inflated, depending on your perspective even as I type this. I’d like to call it the Troubled China Revival Program (TCRP).