In 1996 Alan Greenspan, Fed Chair, warned of “irrational exuberance” in the stock market.
Some say he was just early. But the real story is much different. By the year 2000, Greenspan was the market’s and the economy’s biggest cheerleader. Right before the dotcom bubble collapsed, he fully embraced the productivity miracle.
Today Greenspan is back with another “irrational exuberance” call. This time he says Bond bubble About to Break Because of ‘Abnormally Low’ Interest Rates.
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