It doesn't even significantly matter whether it's a bubble or not, but whether its a "bad" bubble.
I think Steve Eisman (of housing bubble fame) recently made the argument that it's probably a bubble, but it doesn't seem to have the hallmarks it would have to turn it into a crisis. e.g. no broad immediate exposure for the general populace (as in housing/crypto bubbles).
It doesn't even significantly matter whether it's a bubble or not, but whether its a "bad" bubble.
I think Steve Eisman (of housing bubble fame) recently made the argument that it's probably a bubble, but it doesn't seem to have the hallmarks it would have to turn it into a crisis. e.g. no broad immediate exposure for the general populace (as in housing/crypto bubbles).