Twice shy, or so it seems. People are now seeing bubbles everywhere.
The latest warning comes from Hong Kong Exchanges & Clearing Ltd.’s Chairman Ronald Arculli who said asset bubbles may be looming in Asia amid burgeoning stock and property prices.
Nouriel Roubini warned of a double dip (or W shaped) recession in August. Given that he was one of the few who warned of the crash before it happened, as opposed to everyone else who opined on its causes after the event, he needs to be taken seriously.
Perhaps they are right. Looking at the recent performance of Colombo's market, one wonders if they could be anything but right.