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Growing warnings of a Wall Street bubble
As Wall Street climbs to new record highs on the belief that massive support from the Fed will continue virtually indefinitely, there are warnings from some within the financial oligarchy that the bubble is heading for a collapse.
The year began with a note from long-time financial investor Jeremy Grantham that Wall Street was heading into the final stages of a bubble as exemplified by the “market craziness” that has seen Tesla shares rocket by more than 700 percent since last March.
This warning has been joined by others. The head of the hedge fund Baupost Group, Seth Klarman, sent a letter to clients earlier this month, cited by the ....

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