Greenspan Says There Are Bubbles in the Stock and Bond Markets

The transcript discusses the concept of market bubbles, focusing on stock and bond markets. It highlights the potential impact of a bond market bubble on the economy, particularly in relation to long-term interest rates. The discussion also covers the growing government deficit and rising federal debt, drawing parallels to historical debt levels during World War II.

What does the term 'irrational exuberance' refer to in the context of asset prices?

According to the speaker, what are the two types of bubbles present in the market?

What impact do rising long-term interest rates have on the economy?

What is the significance of the government deficit mentioned in the text?

How does the current federal debt to GDP ratio compare to historical levels?