Hedge fund guru George Soros made a couple big statements Thursday, saying that China’s stock market is “overheating”, and that gold is becoming the “ultimate bubble”.
“Right now, the Chinese market is overheating and they have to slow it down,” Soros said on Bloomberg Television. “It remains to be seen how successful they are.”
As for gold, Soros says that low interest rates around the globe are creating an environment in which new bubbles have formed, according to the Telegraph of London. “When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold,” he said.
For more of Soros’ take on China and other issues, you can view his Bloomberg Television interview below.