Why is there a question mark after "Bubble 2.0?"
Maybe because this is actually "Bubble 3.0", the third one in about 15 years? Probably a record in the history of humanity.
M. "Snowden is a Traitor" Andreessen, is late to the party. I don't see why him saying something is making it more visible...
As I mentioned earlier:
How Financial Bubbles Fester And Burst—Even As The Fed Says Not To Worry
In today’s post Wolf Richter offers some solid insights on the dynamics of financial bubbles which merit further comment. The starting point is to recognize that once they gain a head of steam, financial bubbles tend to envelope virtually every nook and cranny of the economy, creating terrible distortions and destructive excesses as they rumble forward. In this instance, Wolf Richter explains how Silicon Valley has once again (like 1999-2000) been transformed into a rollicking capital “burn rate” machine that has spawned a whole economy based on striving for bigger losses, not better profits.
This latter development—- currently exemplified by 44 VC start-up companies in the IPO pipeline with a valuation of more than $1 billion each, despite no earnings and scarce revenues—-is indicative of late stage bubble dynamics. Say January 2000!
Needless to say, our monetary central planners remain hopelessly bubble blind—- still professing to see no significant speculative excesses because they are looking in the wrong place. Janet Yellen, for instance, keeps insisting that stock valuation multiples are still well within “historic ranges”. So DO NOT BE TROUBLED....