![The never-ending rise in household debt is borrowing from the future to pay for pleasure in the present.](/content/dam/images/g/i/n/p/c/x/image.related.afrIndexLead.160x106.gqfgbk.png/1469752068428.jpg)
Central banks to blame for crazy prices
Governments have inflated the prices of government bonds, US shares (and Australian housing) to the craziest levels on record.
Christopher Joye is a contributing editor to The Australian Financial Review. He is a leading economist, fund manager and policy adviser who has previously worked for Goldman Sachs and the RBA, and was a director of the Menzies Research Centre. He is currently a director of Smarter Money Investments.
Governments have inflated the prices of government bonds, US shares (and Australian housing) to the craziest levels on record.
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