Navigating Today’s Frothy Financial Markets
![Navigating Today’s Frothy Financial Markets](https://webapi.project-syndicate.org/library/f7ee73ec0d69aee556f8dca5ba9605ac.16-9-xlarge.1.jpg)
With stock markets soaring, two factors can serve as early warnings of where and when a financial-market bubble might burst, and whether it will be followed by a market correction or a broader economic crisis. It all comes down to the intrinsic productive value of the underlying assets, and how investments are financed.