It wasn’t always this way. We never used to get a giant, speculative bubble every 7–8 years. We really didn’t.
In 2000, we had the dot-com bubble.
In 2007, we had the housing bubble.
In 2017, we have the everything bubble.
I did not coin the term “the everything bubble.” I do not know who did. Apologies (and much respect) to the person I stole it from.
Why do we call it the everything bubble? Well, there is a bubble in a bunch of asset classes simultaneously.
And the infographic below that my colleagues at Mauldin Economics created paints the picture best.
I don’t usually predict downturns, but this time I bet my reputation that a downturn is coming. And soon.
When there’s nothing left but systemic risk, everyone’s portfolio is on the line.