Unprecedented levels of stimulus around the whole world. If that isn't the precursor for some airpockets/bubbles of mispricing to emerge.. I don't know what is.
I was reading Sapiens by Yuval Harari today and he had an explanation of easy credit that i liked. You are basically betting that enough innovation and progress happens to underpin the money you've "borrowed" from the future - when that doesn't happen...the bubble bursts. I wonder what sort of progress would smooth over the extraordinary credit injection we've seen in 2020.
I was reading Sapiens by Yuval Harari today and he had an explanation of easy credit that i liked. You are basically betting that enough innovation and progress happens to underpin the money you've "borrowed" from the future - when that doesn't happen...the bubble bursts. I wonder what sort of progress would smooth over the extraordinary credit injection we've seen in 2020.