by: Money Morning, The Market Oracle:
Many experts claim we’re not in a bubble economy because they can’t see the “bubble.”
Why is beyond me.
The bubble is so enormous right now that any serious bailout attempt would have to encompass the entire shootin’ match or roughly $600 trillion to $1.5 quadrillion ($1,500,000,000,000,000) in order for it to work.
That’s the total estimated amount of outstanding derivatives, credit default swaps and exotics outstanding at the moment according to various industry sources.
I say estimated because nobody actually knows for sure. Nearly five years into this crisis, the derivatives markets still remain almost entirely unregulated.
And, that’s why the well-intentioned but completely misguided onesey-twosey’s bailouts we’ve seen so far won’t cut it despite the fact that they’re already into the trillions of dollars.
I say this because, despite what most politicians and central bankers think, we are not staring at a series of independent bubbles blown into the wind, but a single, massive all-encompassing monster bubble that surrounds us all.