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Wednesday 21 June 2017

Bernard Arnault: A bubble is formed that will burst

Bernard Arnault, the executive director of the multinational luxury goods company LVMH, has warned the world economy, which has to scare all investors seriously.
He thinks that the economic climate in the current situation is terrible in the medium term.  The billionaire made this statement in interview for the CNBC financial magazine on June 15th.
Arnault substantiates his opinion with high stock prices, low interest rates, and the volume of money that flows globally.
In his opinion, a bubble is being formed that will explode one day.
Arnault did not specify the time he expects the difficulties to happen, but said it could be soon because the last crisis was in 2008, and similar crises happen traditionally every 10 years.
In terms of his long-term horizon, however, the billionaire is optimistic, referring to advances in technology, which will ultimately help the world economy recover.

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