by Wolf Richter • • Comments Off on Yellen Warns Investors
Yellen pokes at bubbles in momentum stocks, leveraged loans, threatens to end ZIRP sooner, more rapidly “than currently envisioned.” Fasten your seatbelts.
Money has no moral compunction, moves with ease from drug traffickers into mega construction projects, and politicians need it for campaigns and other purposes.
So let’s get one thing straight. Uber is not an exciting entrepreneurial endeavor. Quite the opposite. It’s backed by three of the largest corporations in the world, all merged together to again outspend the underdog and disrupt the middle class.
Buyers from China are the most prolific, spending 72% more than a year ago! On expensive homes. They benefit from the devaluation of the dollar – according to the NAR – and are desperate to get their money out of China.
According to the official story, the people of Europe will benefit enormously from the banking union; it imposes greater control and tighter regulation of the banks and saves taxpayers from having to bail them out. Or so it would seem.
FICO: “That doesn’t feel like a healthy, sustainable growth situation.” Lenders fret “about the risk in mortgages” as consumers return to “reckless borrowing.”
