China Bubble Analysis

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Bill Robinson: A bubble waiting to burst or stuck on a permanent high? Oil'
2007-07-22 08:27:00
From The Independent on SundayThe relentless climb has confounded expectations and while prices may be capped, they won't scrape the bottom of the barrelIn 2001, during the world recession, oil prices averaged just under $23 (£11) per barrel. Over the past month the price has climbed from just above $70 to $78 and flirted last week with a record high of $78.65.The recent movements have surprised many analysts. A year ago, oil prices fell quite sharply from their peak and briefly found a floor at around $65. The conventional wisdom in the industry at the time was that prices for the black stuff would gradually return thereafter to something closer to the 2004-05 range of $40-$50 per barrel. The sharp rise in American long-term interest rates in recent weeks – a negative signal for world economic activity – might have been expected to nudge oil downwards towards this floor. Instead prices have risen. Is there any limit to how high they can go? And is the market telling us we may...
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China seeks to control its blazing economy
2007-07-22 08:25:00
From Channel News AsiaBEIJING - China is expected to take more steps to slow its galloping economy, a key engine of global growth, after hiking borrowing costs in a bid to stop the boom giving way to a bust.China's central bank raised its benchmark interest rate by 0.27 percentage points Saturday. The main bank lending rate rose to 6.84 percent and the deposit rate increased to 3.33 percent.The move was intended to encourage "rational growth in credit and investment" and keep inflation stable, the bank said in a statement, amid fears uncontrolled expansion could push the economy into the buffers.Analysts had expected measures to slow the economy after official figures earlier this week showed it expanded by 11.9 percent in the second quarter and by 11.5 percent for the first half of the year.[Read more]
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China boosts rates to cool 'surging' economy
2007-07-22 08:23:00
From Market WatchHONG KONG (MarketWatch) -- China moved to cool the economy late Friday with a 0.27 percentage-point hike in interest rates just a day after scorching GDP data showed the nation on track for its fastest annual growth in more than a decade.In a statement published on its Web site, the People's Bank of China said it will raise the one-year yuan lending rate to 6.84% from 6.57%, effective Saturday. The one-year deposit rate will rise to 3.33% from 3.06%.It's the fifth time since April 2006 that China's central bank has lifted the benchmark lending rateData released Thursday showed China's economy expanded 11.9% in the second quarter, up from 11.1% from the preceding three-month period. For the first half, China's economy expanded 11.5%, suggesting current momentum will see the economy post its strongest full-year growth since 1994, when GDP climbed 13.1%.The GDP data exceeded consensus estimates among economists for 10.8% growth, and bettered the central bank's ow...
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Bank of Korea May Raise Rates Again to Fight Asset-Price Bubble
2007-07-16 20:22:00
From BloombergJuly 16 (Bloomberg) -- Bank of Korea Governor Lee Seong Tae may increase interest rates for a second time this year to prevent money-supply growth from fueling bubbles in the stock and property markets, according to a survey of economists.Lee and his board colleagues raised the overnight call rate to a six-year high of 4.75 percent last week, taking aim at record lending to small companies that threatens to spur inflation. Ten of 11 economists say the bank will increase the rate to 5 percent by December. One sees no change.``The central bank's concern is that too much liquidity will lead to a bubble in asset prices,'' said Terence Lim, head of research at Goldman Sachs Group Inc. in Seoul. ``Once a bubble bursts, it will deal a huge blow to consumers and can tip the economy into a tailspin.''Lee and Finance Minister Kwon Okyu say soaring lending reduces the financial health of banks and consumers, and may undermine the nation's longest economic expansion in a dec...
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Beijing's Olympic bubble
2007-07-16 20:19:00
From post-gazetteWang Hai Xia, who knows Beijing pretty well, had to ask directions twice to find the Dashanzi Art District in an industrial area outside the city's third ring road.It didn't look like much at first. Smokestacks rose from endless ranks of low brick buildings. That's not unusual in the factory-rich capital of China.Then we noticed a pair of stocky concrete giants -- identical old men, 30 feet high, in Mao suits. One stood on the sidewalk and another stood stoically on the roof of another building, half a block away.Things got weirder. Outside the Long March Space, an art gallery housed in another empty factory, workers put the finishing touches on a life-size plastic brachiosaurus, suspended in a house-sized glass box.[Read more]
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Beware of the present stock market frenzy
2007-07-15 18:17:00
From China DailyThe author He Fan is a researcher with the Institute of World Economics and Politics under the Chinese Academy of Social SciencesAn official from the Japanese central bank once described to me how to judge whether there are bubbles in a stock market or a property market.When economists and analysts of institutional investors hold numerous meetings to discuss if a certain market has bubbles, and when most of them deny it, then you can be sure that market is loaded with bubbles, he said.Another practical way for judging bubbles comes from Peter Lynch, manager of the Magellan Fund and a legendary icon on Wall Street.At cocktail parties, after a mutual fund manager introduces himself, and if everybody just nods and resumes discussions on the weather or soccer game or should one of them seek the dentist to talk about plaque. Then the stock market is sound.If someone should approach the fund manager and engage him conversation for about two minutes, and then turn to the de...
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From Boston Blobe Home foreclosures soaring? Oil ...
2007-07-15 18:12:00
From Boston BlobeHome foreclosures soaring? Oil nearing $74 a barrel? Gasoline prices topping $3 a gallon? So what.Wall Street again shrugged off some pesky consumer costs and finished a strong week as the Dow Jones industrial average soared more than 300 points in two days and moved within striking distance of 14,000. The blue chip index closed Friday at a record 13,907.25.The late-week rally, which began Thursday with the biggest one-day gain in nearly four years, is the latest sign that a strong global economy and improving US conditions are trumping concerns about the slumping housing market and rising energy costs.The Dow has gained more than 600 points since early June, and more than 1,400, or 12 percent, for the year. The broader Standard & Poor's 500 Index is up 9.5 percent for the year.Analysts said a combination of a solid global expansion, moderate US inflation, and low interest rates means stocks are poised to move higher. However, bad news on housing and energy could s...
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Beijing's Olympic bubble
2007-07-11 18:37:00
From Pop MattersWang Hai Xia, who knows Beijing pretty well, had to ask directions twice to find the Dashanzi Art District in an industrial area outside the city’s third ring road.It didn’t look like much at first. Smokestacks rose from endless ranks of low brick buildings. That’s not unusual in the factory-rich capital of China.Then we noticed a pair of stocky concrete giants—identical old men, 30 feet high, in Mao suits. One stood on the sidewalk and another stood stoically on the roof of another building, half a block away.Things got weirder. Outside the Long March Space, an art gallery housed in another empty factory, workers put the finishing touches on a life-size plastic brachiosaurus, suspended in a house-sized glass box.[Read more]
More About: Olympic , Bubble , Jing

China's investors put on brakes in face of potential market bubble
2007-07-11 18:36:00
From Report on BusinessSHANGHAI -- China's government may have finally won its fight to cool investor enthusiasm for stocks, after months of speculative frenzy set regulators on edge over a potential crash, analysts said yesterday.Since January, investors had ignored repeated government warnings about the run-up in Chinese share prices, but after another volatile week investors' appetite for investing appears to be diminishing, they said."The liquidity boom in China is finally seeing signs of a substantial change," said Jerry Lou, an economist at Morgan Stanley in Hong Kong.Share prices are still up nearly 40 per cent from January after climbing 130 per cent last year, but trade volumes are down sharply.Daily turnover has declined by more than half from May's highs of more than $40-billion (U.S.), while the number of new stock accounts being opened slipped to between 70,000 and 80,000 a day.In May, when the key Shanghai composite index hit a series of records to put the index abo...
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Asian financial crisis 'could happen'
2007-07-11 18:33:00
From The AgeAn asset bubble in Asia could cause another financial crisis like the one a decade ago, a former deputy governor of the Reserve Bank of Australia said.Stephen Grenville, a central bank board member during the time of the 1997 Asian financial crisis, said Asia's financial sector was still fragile.And he predicted Asian nations would be reluctant to seek help from the International Monetary Fund if another crisis emerged.Dr Grenville, who was an RBA deputy governor and board member from 1996 to 2001, said a shortage of foreign currency reserves in Asian economies was still a problem."There's the possibility when exchange rates come under par, they (investors) will change their behaviour in a way that's most inconvenient," he told the Lowy Institute think tank in Sydney on Wednesday.[Read more]
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China's investment fever cools down
2007-07-08 18:36:00
From Press TVAfter months of unwelcome market excitement, China's government finally proves victorious in cooling down investigator's mania for stocks.At long last, Investor's appetite for investing is diminishing after months of neglecting the repeated government warnings about the Chinese share prices boom."The liquidity boom in china is finally seeing signs of a true change," said Jerry Lou, an economist in Hong Kong.Daily reversal has declined by more than half since May's boom of more than 40 billion dollars and the prices have declined more than 13 percent. This turning point is the result of the sentiments mounted for new government policies prompted by this ominous fact that the overheating could result in investors losing everything if the speculative bubble were to pop.[Read more]
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Economists: China's Stock Market Bubble Poses Financial Risk
2007-07-08 18:35:00
From VOA NewsInternational economists say China's huge buildup of foreign currency reserves has contributed to the boom conditions that have led to a bubble in the Shanghai stock market, which is up 400 percent in less than two years. VOA's Barry Wood has more on what might be an unanticipated consequence of China's export success.Ted Truman was the top international specialist at the Federal Reserve and then the U.S. Treasury during the East Asian financial crisis a decade ago. Now a fellow at Washington's Peterson Institute for International Economics, Truman believes China has made a mistake by not allowing its currency's value to rise faster against the dollar. The resulting buildup of foreign reserves, he says, is having unintended consequences that could hurt China's domestic economy."The risk is principally on the internal side. The buildup of these reserves is creating domestic liquidity (expanded money supply), which will create boom conditions in domestic markets -- ...
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China's stockmarket at a turning point, analysts say
2007-07-08 18:09:00
From AFP New briefChina's government may have finally won its fight to cool investor enthusiasm for stocks, after months of speculative frenzy set regulators on edge over a potential crash, analyst said Sunday.Since January investors had ignored repeated government warnings about the run-up in Chinese share prices, but after another volatile week investors' appetite for investing appears to be diminishing, they said."The liquidity boom in China is finally seeing signs of a substantial change," said Jerry Lou, an economist at Morgan Stanley in Hong Kong.Share prices are still up nearly 40 percent from January after climbing 130 percent last year, but trade volumes are down sharply.Daily turnover has declined by more than half from May's highs of more than 40 billion dollars, while the number of new stock accounts being opened slipped to between 70,000 and 80,000 a day.[Read more]
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Renewed slump for Chinese shares
2007-07-05 18:35:00
From The Irish TimesChina's main stock index fell 5.25 per cent today as new listings add to share supplies and a special bond issue threatens to pull liquidity from the market.The market has fallen more than 15 per cent in a little over two weeks, and analysts said it faced a medium-term correction after an overheated rally that had quadrupled the value of the index since the start of last year.The Shanghai Composite Index finished at 3,615.872 points, its lowest close since April 20th. It has steadily pulled back from a recent high of 4,311.997 points on June 20th.Large-cap blue chips such as Bank of Communications (BoCom) led the fall after outperforming the market and lending support to the index during recent pullbacks, indicating investor sentiment was worsening.[Read more]
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Jockey Wok offers taste of China
2007-07-05 18:33:00
From Chicago TribuneFirst impressions: Jockey Wok 'n' Rolls, located in a homely Hoffman Estates strip mall, has perhaps the most unfortunate name for a local Asian restaurant alongside Ukrainian Village's Takie Outit and Lakeview's Ping Pong. Kitschy name aside, it has attracted the northwest suburb's considerable Asian population to this location since 1991.Jockey has an expansive interior (seating for 160), though a touch on the drab side. Clear out the tables, add some strobe lighting and you've got a '70s discotheque. Along the back wall is the buffet station, where the 30-plus item weekday buffet is grand larceny at $6.50. The live fish tank is filled with tilapia awaiting a certain fried/steamed fate.On the plate: Where do you start with 250-plus items on the menu? Well, this is Chinese cuisine, and China is a large country, so let's break it up into regions: Hong Kong-style dim sum is available any time, though cart service is only on weekends. Anything with Szechuan...
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First Chinese Company To List On Tokyo Main Board
2007-07-05 18:30:00
From ForbesHong Kong - Seeking to play catch-up in the global listings race, the Tokyo Stock Exchange has given the go-ahead for the first Chinese company to list on its main board: China Boqi Environmental Solutions Technology (Holding).In a press release, Beijing-based China Boqi said late Wednesday its shares would begin trading on either the first or second section of the TSE on Aug. 8.The mid-size Chinese environmental solutions provider is a Cayman Islands-registered shell company whose core asset is Beijing Boqi Electric Power Science & Technology, a 5-year-old start-up founded by chairman and president Wang Jun.It provides environmental remediation to China’s highly polluting coal-fed power plants, cleaning up toxic residues in gas emissions and water.It was recently ranked No. 3 in the industry in China by total contract value by the government’s economic planning agency, the National Development and Reform Commission.The Tokyo exchange is the second-largest in the worl...
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Too late for a soft landing in China?
2007-07-02 05:05:00
From The International Herald TribuneRemind me again: Wasn't 2007 supposed to be the year of soft landing for the Chinese economy? Halfway into the year, and after several rounds of monetary tightening, the reality is turning out to be just the opposite.Economists at the People's Bank of China are now forecasting gross domestic product to grow 10.8 percent in 2007.That would be the fastest pace of expansion in 12 years and almost three percentage points higher than the 8 percent target announced in February.And this is when we are discussing official figures. The economy may well be growing even faster.Surely this is alarming enough for policy makers to hit the brake pedals with all their might? The stock market's nervous reaction to the latest economic forecasts seems to suggest such a concern.The CSI 300 index fell 2.5 percent on June 29, posting its first monthly loss in almost a year.Jittery investors, holding on to overpriced Chinese stocks, are getting jumpy for the wrong r...
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India’s dollar millionaire club swells; over 1 lakh
2007-06-29 19:15:00
From Hindustan TimesBuoyed by robust returns from equities and real-estate investments, high foreign inflows and a booming economy, India is now the world’s second-fastest producer of freshly minted dollar millionaires, marginally behind Singapore.According to the World Wealth Report released on Thursday by global investment bank Merrill Lynch and consultancy major Capgemini, there were over 100,000 dollar millionaires in India in 2006. At 100,015, the number was up 20.5 per cent over 2005 — the second fastest growth in the world behind Singapore’s 21.2.‘Doll ar millionaires’ are people with net wealth more than $1 million, excluding the value of primary residence and consumables. The combined wealth of these Indians is $100 billion, a third of which is enough to wipe out India’s $33-billion fiscal deficit, making the economy debt-free.The burgeoning ‘rich list’ has lured a number of domestic and foreign players to set up specialised private-banking arms to tap into t...
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China's stock market frenzy is powered by an army of ambitious investors
2007-06-29 19:13:00
From International Herald TribuneSHANGHAI: High above Shanghai, in an office reserved for stock market barons, Xu Yongyi swirls a flask of coffee, only breaking his rhythm to explain why money matters."It's not about being rich," said Xu, a 43-year-old former factory worker who says he turned 16,000 yuan, or $2,100, into 5 million yuan by trading shares. "I want to rise above the masses and prove I'm a step ahead."Thirty floors below in the public trading room of Shenyin & Wanguo Securities, Xu's ascent inspires investors who sit at rows of boxy computer screens studying stock graphs and swapping tips. A former grade-school teacher, Wu Ruiling, 68, recalls the days when the man she knows only as Dahu, or "Big Account," would expound on stock-price movements over box lunches."We look up to him," Wu said. "He analyzes the market so thoroughly; that's why he's so rich now."Aspiration and envy are key emotions driving China's stocks boom as investors ignore warnings of a growing b...
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China Lawmakers Approve Interest Tax Cut, Bond Plans
2007-06-29 19:11:00
From The Wall Street JournalBEIJING -- China 's legislature passed proposals Friday to cut the tax on interest income and for a special issue of bonds to buy foreign exchange for a new investment agency, moves ultimately aimed at draining some of the excess liquidity in the red-hot economy.China's huge pool of forex reserves and a burgeoning trade surplus have fed the excessive liquidity, leading to overinvestment in pockets of the economy, driving share prices to record highs and raising concerns about the formation of an asset bubble and inflationary pressures.The Standing Committee of the National People's Congress reviewed the proposals in a weeklong session that ended Friday. Their passage was widely expected.Under the plans approved by lawmakers, the State Council, the nation's highest executive body, will have the authority to cut or suspend the 20% tax on interest income, the official Xinhua News Agency reported.[Read more]
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Hong Kong rocks on
2007-06-29 19:09:00
From The AustralianTHIS weekend Hu Jintao is paying a rare state visit to one of his more far-flung outposts: Hong Kong . China's President will find an extraordinary, rambunctious city that wears its heart on its sleeve and that has recently emerged from a turbulent decade of disease and financial uncertainty into fresh success.The restaurants are once again crammed and people are rushing too much to give directions to strangers on the street. But there's a new dimension to this region as the city officially is defined. The mere "economic city", as it has been sardonically dismissed by Beijing cadres, is also home to young managers and professionals - 38 per cent of the workforce - who are eagerly joining groups protecting heritage buildings or combating pollution.Businessman and writer Stephen Vines says the branch meetings of the recently formed Civic Party he attends are full of such people planning campaigns for a greener, fairer future.[Read more]
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China's Economy May Grow at Fastest Pace in 12 Years
2007-06-29 19:07:00
From BloombergJune 29 (Bloomberg) -- China's economy may expand at the fastest pace in 12 years in 2007 and inflation will exceed the central bank's target, according to a report by economists at the People's Bank of China research department.Gross domestic product may grow 10.8 percent, said the report published in the Beijing-based China Securities Journal today. Consumer prices may rise 3.2 percent, the fastest pace since 2004 and more than the central bank's 3 percent cap.Stocks fell as the report added to speculation China will raise interest rates for a third time this year. Premier Wen Jiabao called for ``moderate tightening'' this month after inflation jumped to a 27-month high, factory spending accelerated and the stock market drew warnings of a bubble.[Read more]
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In 1997, we knew the big news in advance
2007-06-29 19:04:00
From Asia Times OnlineHONG KONG - It didn't get much better for news reporters and producers than Hong Kong at the start of 1997. We already knew what would be the biggest story of the year.Whether you called it the return of Hong Kong to the loving embrace of the big motherland or the craven surrender of free people to "Communist" China, it was a once-in-a-lifetime news event where media had advance word on the players, time and place for coverage.Deng Xiaoping's death in February gave the story a dimension of irony previously missing. Deng was the architect of the "one county, two systems" formula for Hong Kong's reunification that he wouldn't live to see. He was better known, then and now, as the driving force behind "socialism with Chinese characteristics" that turned the mainland into a global economic powerhouse.It's worth remembering - and hard to forget for those of us in Hong Kong - that mainland China was not the world's most dynamic economy in 1997. It wasn't even ...
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What Bubble? China's Analysts More Bullish Than Ever
2007-06-26 18:43:00
From BloombergJune 26 (Bloomberg) -- Zhang Shibao covers 12 Chinese stocks and recommends investors buy all of them, even after they've more than tripled on average in the past year.``We are still in the middle of the bull market and the uptrend is irreversible,'' said Zhang, a steel analyst at China Merchants Securities Co. in Shenzhen.Anal yst s who cover Chinese companies, such as Zhang, are the most bullish they've been at any time in the past 10 years. Total buy calls on mainland shares from local and foreign analysts rose to 67.4 percent of all ratings this month, the highest since Bloomberg began collating the data a decade ago. The bullishness comes as the government is trying to cool a rally that's made shares there the most expensive in Asia.Zhang has eight ``strong buy'' and four ``buy'' recommendations on the dozen iron and steel stocks he covers. They have gained an average 218 percent over the past 12 months and are up 97 percent this year, according to Bloomber...
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China Cosco Shares Almost Double on Shanghai Debut
2007-06-26 18:42:00
From BloombergJune 26 (Bloomberg) -- Shares of China Cosco Holdings Co., Asia's largest container line, almost doubled on their Shanghai trading debut after the company's 15.1 billion yuan ($1.98 billion) stock sale attracted record demand.The shares closed at 16.38 yuan, about 51 percent more than the Hong Kong-traded stock, reflecting higher valuations for shares listed on the mainland. The stock earlier climbed as high as 17.15 yuan. The Tianjin-based company sold 1.78 billion A shares, or a 20 percent stake, at 8.48 yuan each to buy new ships and a stake in a logistics business.The gain lifted China Cosco's market value to $17 billion, surpassing Mitsui O.S.K. Lines Ltd. as the world's second-largest shipping company behind A.P. Moeller-Maersk A/S. China is pushing its biggest state-owned companies to sell shares in Shanghai as a greater supply may cool surging stock prices that have almost doubled this year.``China Cosco has a track record,'' said Mona Chung, who helps ma...
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What is the Chinese Translation of “Asset Bubble”?
2007-06-14 07:50:00
From FXstreetTo say that the Shanghai Stock Exchange has been a bumpy ride over the past few months would be an understatement. Over the past six months there have been eleven sessions where the index has changed by over 4% in one day (five gains and six losses). Before 2007, it took 28 months to accumulate 11 days of 4%+ changes. And incidentally, since mid-2006 the market has absolutely exploded, having grown by 173.3% since June 2006 and by a staggering 91.4% in 2007 alone. Not too bad for an index that was on a steady decline from 2001 to 2005.When any stock market gets this “exuberant”, it is only natural that people start debating whether or not it qualifies as a stock market bubble, what the repercussions of a correction could be, and who would be impacted the most by a sudden, sharp decline in value. There are the masses of defenders of the Chinese miracle who insist that this market is justified by economic fundamentals. These analysts are willing to say things like “...
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China's heated market sprint raises alarm
2007-06-14 07:48:00
From The Economic TimesWhy has the Chinese stock market captured world attention?In recent times, the Shanghai Composite Index has been on a bull run. The upward movement has been very strong, with a rise of nearly 50% in 2007 alone. This has led to a lot of speculation across the world that it might be a big bubble waiting to burst, with even former Federal Reserve chairman, Alan Greenspan, taking a cautious view on the Chinese market.What is the current situation in the Chinese market?The Shanghai Composite index crossed the record 4000-mark recently. Post that there was a period when the index crashed twice within a period of seven days. This happened following fears of a bubble and after the government tripled stamp duty on transactions. This sharp crash was followed by a gradual pullback, as the government soothed the nerves of investors.What will be the impact of this movement on Indian equities?Globalisation can have its share of negatives, especially when it comes to equity ...
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China's other bull is solid gold
2007-06-11 18:38:00
From Asia Times OnlineTwo years ago, many American investors would have unanimously scoffed at the notion that the world would soon look to China's stock markets for guidance rather than the US's. Yet here we are today. Over the past two years the Shanghai Stock Exchange Composite Index has soared a breathtaking 328%, capturing the world's attention.At best at the end of May, the SSEC was up 62% this year alone! Such gains are clearly unsustainably parabolic, which places the Chinese stock markets deep into classic bubble territory. And the amazing stories coming out of China these days reflect mania extremes. From an accelerating day-trading craze, to record numbers of new stock-trading accounts being opened, to even lowly Chinese laborers giving stock tips, China is caught up in the throes of a textbook stock mania.While stock manias are certainly fun as American tech investors can attest to, they always eventually end badly. Large rates of gain simply cannot be sustained mathe...
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William Pesek: Karl Marx punting on Chinese stocks
2007-06-10 16:07:00
From Asbury Park Press Karl Marx is back in China, and the philosopher is arguably bigger than ever.Yes, yes, Asia's No. 2 economy is barreling ahead on the free-market highway. Beijing has even gotten hip to the private-equity craze, buying a $3 billion stake in Blackstone Group LP. Now that, as Milton Friedman might say, is capitalism.It's interesting, then, that China's markets in some respects are looking more like the kinds envisioned by Marx than by laissez-faire champion Friedman.Mao Zedong fancied himself an heir to Marx. Today, when investors look at China's 11-percent growth and domestic reforms, the Marxist theory China subscribed to back in the 20th century seldom comes to mind.And were Marx to visit modern-day China, he might be distressed to see how the rich are flourishing and a sizable portion of gross domestic product comes from private companies, while the poor need to pay for education and health care. China also hopes one day to arrive at a system where marke...
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Global Markets: Whole World Enjoying A Super Bubble Unlike Anything Ever Se
2007-06-10 16:06:00
From Daily ReckoningWe have noticed how one bubble has led to another...in stocks...in real estate...in art...in watches and collectibles...in one market...then in another...until the whole financial world is expanding at an alarming rate. We read in the paper, just yesterday, that the celebrated art promoter Damien Hirst has created a diamond encrusted skull now apparently offered for sale at $100 million. Pity the poor dope who buys it! But what do we know; it will probably go up! And now you can buy stocks in China for 40 times earnings...and houses priced over $100 million too. It seems that the whole world is enjoying a Super Bubble...unlike anything ever seen before. It really is a New Era, in other words. How big will it get? How long will it last? We wish we could tell you...[Read more]
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