from King World News
With all of the insanity in global markets, here is the craziest thing one market veteran has ever seen in his lifetime.
Bill Fleckenstein: “A lot of people obviously believe that these central bankers know what they are doing. Look at the pricing of the world’s bond markets — it’s insane. It’s more insane than anything we’ve ever seen. It’s more insane the dotcom Mania. It’s more insane than anything. You are guaranteed to lose money but you are buying the asset because you think in the interim, between when you bought it and you get your guaranteed loss, you’re going to make some money by selling the asset to another fool. Or you cannot afford not to participate, even though you think it’s crazy.