Author Ruchir Sharma wrote in Financial Times today that “almost no one foresees an imminent pop” of what he calls “the mother of all bubbles.” His article was headlined, “How ‘the Mother of All Bubbles’ Will Pop,” with a kicker, “It’s time to bet against American Exceptionalism,” a followup on his Dec. 4 op-ed “The Mother of All Bubbles.” Sharma is formally correct: “almost” no one, with the exception of EIR. And “the mother of all bubbles” is not his copyright.
Nevertheless, his point is correct: Sooner or later, investors will demand higher yields on U.S. debt, and this will start a chain-reaction, crashing Wall Street.
