video of the Great Bond Debate between James Grant and David Rosenberg
In a WSJ article, Morgan Stanley takes Grant's side of the bet, while Goldman takes the same side as Rosie.
speaking of which, here's a BIS paper authored by Stephen Cecchetti and others, on The Future of Public Debt.
Is the stock market in bubble territory?
on the other hand,
Bull or Bear? Neither. Barry Ritholtz
once people commit to a position, there is an unfortunate tendency to root for that perspective. Even worse, people stick with their forecast, regarding what is actually happening in the market. ... Expect to be wrong. But instead of prepareing, people dig their heels in and cost themselves money by being more concerned with trying to be right rather than making money.
Jim Chanos says China is on "treadmill to hell".
And Michael Pettis is very worried about the extent of China's bad loans.
The ever-entertaining Howard Davidowitz says retail sales may be up, but the U.S. is in dramatically worse shape, and is, in fact, completely screwed!
So, government bonds may be a bubble, the stock market may be a bubble, China is likely a bubble, the U.S. consumer is still living in a bubble.... how about the Canadian housing market? Nah!
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