Monetary ease, Grantham on overvaluation and the bubble in bubbles

Today's Commentary
The macro debate today is about secular stagnation and the correct policy response to deal with it if it exists. With that backdrop, it is interesting to read Jeremy Grantham’s latest quarterly letter to investors, which sounds a word of caution about monetary ease-fuelled asset prices. Is there a bubble? Comments below
The last two daily commentaries here were about the limits of monetary policy. See parts 1 and 2 here. These tie in very well to today’s topic because the co...

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