Income-starved investors could be heading for disaster

“We are experiencing a bubble, not in stock prices, but in bond prices.” It’s a dire warning about the state of the markets, and it’s not really one I’d be inclined to disagree with. But I am rather more inclined to take issue with the person who uttered these words to Bloomberg in an interview earlier this week – none other than former Federal Reserve chairman Alan Greenspan.

You see, if there’s genuinely a bubble in the bond market (and I think there is), then there can be few human beings on earth who [...]