Jeffrey Gundlach – We’re Drowning In Central Banking

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[Jeffrey Gundlach - We're Drowning In Central Banking]

[Question] Source: LYBIO.net
So is there a bubble in any asset class right now?

[Jeffrey Gundlach - CEO, Doubleline Capital]
Uh, I don’t know. Um, there’s probably a bubble in central banking. That’s where the bubble is. There’s – we’re drowning in Central Banking right now. And Quantitative Easing that’s where the bubble is.

[Question]
But it’s not ending anytime soon?

[Jeffrey Gundlach] Source: LYBIO.net
It’s not ending any time soon, until there is some negative consequences – one of them might be just that somebody is doing it more. You know, one of the problems we’re gonna have in the global economy is currency devaluations. I mean, that’s the solution for an individual country to the issues that they’re facing. This is Japan’s solution, they have no other levers, they have a horrible demographic problem, huge government debt, no savings pool anymore, non-immigration policy, I mean, do you have any ideas, so what do they do? The debase their currency to just try to get a bigger share of the export pie in the global economy. But with global growth slowing, which has been happening and is likely to continue with Europe in recession; China, slower than most people think. Look at commodity prices that’s the message you’re getting. With Global growth slowing not everybody can increase their imports, you’re playing a market share game. So I think we’re looking at competitive currency devaluation which causes Ranker shall we say; causes unhappiness, and finger pointing and God forbid tariffs and things like that, that really end up causing even slower economic growth. A la the 1930′s, so hopefully that isn’t in our future but currency de-basement is real time happening. So it will lead, I think to some of these negative things should it continue, I’m afraid it’s going to.

Jeffrey Gundlach – We’re Drowning In Central Banking. I think we’re looking at competitive currency devaluation. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.