Monday, August 21, 2017

Everything has become expensive in the US

“In the US, everything is expensive. Housing has gotten expensive, bonds are highly priced, and the stock market is highly priced. It kind of suggests to me a willingness to hold assets. And I think it’s partly driven by fear. And this is what’s different with 1999. We’re much more worried about our jobs now or our children’s jobs. We’d like to have a house for our children because they might not be able to afford it."