Bubbles always have more than one element. If that weren't true, nearly everyone would see them coming. But that's never going to happen.
Lately, in their quest for yield and a large dose of impatience, investors are chasing the weak, the lame and the higher yielding to satiate their income hunger. Now we're not calling this current market a bubble. Not yet.
But places and pieces go together just as ducks eventually get lined up. And not even the twisted utopian-seeking minds of politicians who try to legislate one of today's buzz terms--outcomes--have a clue. If anything their twisted thinking contributes to most bubbles. Equal opportunity is one thing, equal outcomes another.
http://online.wsj.com/news/articles/SB10001424052702303754404579312451913879802?KEYWORDS=chasing+higher+yields&mg=reno64-wsj&url=http%3A%
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