Asset inflation, as evidenced by bubbles in real estate andequities, is rampant.
资产价格正在疯狂上涨,房地产和股市的泡沫即是佐证。
2
Who CARES if credit spreads narrow, andasset prices — including equities — go up?
谁会关心如果利差收窄和资产价格(包括证券)上涨呢?
3
There are ultra-low interest rates (real interest rates are probably negative); this is leading to certain asset bubbles – particularly in real estate and public equities.