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Guo’s Bubbles
Tuesday's word was "bubble" or, actually, "bubbles," plural.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank, expressed more than a little concern about what he deemed speculative excess in US and European markets, where he judged that asset prices are diverging from the underlying economic fundamentals.
China, Guo said, is worried about the fallout in the event those purported bubbles were to burst, which they will "sooner
Bubbles are like “opinions.” Everybody has one, and everyone thinks everyone’s else’s stinks.