Why stockmarkets are still blowing bubbles

While the 'real' economies of the West remain mired in recession, newly-printed government money is fuelling the stockmarkets' remarkable rallies, says Martin Spring.

We are not in a sustainable recovery. The burden of debt is still far too great, with much of the debt merely transferred to or underwritten by governments, says the well-known British fund manager Crispin Odey.

(I had the privilege of interviewing him years ago, and have never forgotten a key investment principle he offered, that it's unwise to invest in companies that depend on political favour of any kind for their success).

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