Yeesh, the world is apparently full of self-styled bubble-prickers. Greenspan last week, Shiller this week, and now we have the Hong Kong Monetary Authority weighing in:
The Hong Kong Monetary Authority, the Chinese
territory’s de facto central bank, added its voice to the growing
chorus of concern about the risk of an asset bubble in China.
“Excess liquidity may help create an asset-price
bubble in China. The situation is worrying,” the monetary authority
said in a document it sent to the Legislative Council ahead of a
meeting with legislators next week.