Value Investing World

Monday, May 7, 2012

Albert Edwards on Australia: the biggest bubble in recent history

All we have in Australia, at its simplest, is a credit bubble built upon a commodity boom dependent for its sustenance on an even greater credit bubble in China. Of all the bubbles I have seen over the last 30 years in this industry, this one is even more obvious than the rather prominent nose on my increasingly haggard face.
Joe at 5/07/2012
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