I spent several years of my career in real estate, so I've seen a bubble or two. I've watched them inflate, I've stepped out of the way, and I've watched them explode into carnage.
It's never pretty.
Right now, with so much attention on global growth, tariffs, tax reform, and the stock market, no one is really paying attention to a bubble – a dangerous one – forming up right now in Europe.
Why care about Europe?
Well, Europe matters to us – a lot. It matters because a steady flow of buy orders from European dealers, banks, and investors is required to keep U.S. stocks and bonds inflated. U.S. markets would collapse without European buying.
I'm going to show you some charts in a minute – some of the scariest charts I've seen since 2008, really.