Nouriel Roubini : It could go on for another year or two.
Of course, there are two forces. Growth is slow. Earnings growth is also slowing down. Top line and bottom line are not as good as they used to be, but margins are high. They could correct, somehow, over time.
But you have the gravitational forces of slow economy leading eventually to correction, but then the levitational forces of QEs, zero policy rates, more money coming in the market – not just from the U.S., but from other economies – it’s going to levitate asset prices.
So, as I pointed out, this might lead to a generalized credit and equity and asset bubble in the next year or two, followed by a crash.
Bu for the next year or so, as long as the economy grows 1.5-2%, and you have easy money, this market can go higher. - in Business Inside Australia
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