Key points of this paper:
- Asset bubbles are a fact of life and flow from human nature, which has a strong tendency to jump on to popular fads.
- There is a long history of new bubbles forming from what's left of the last burst bubble - and this time around it's unlikely to be any different.
- Easy global money - which is getting easier as growth remains sub-par in developed countries and various emerging countries resist upwards pressure on their currencies - is setting the scene for the next asset bubble.
- Potential candidates are gold and commodity prices, emerging markets and resources shares, however the absence of obvious overvaluation
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