And it's created a big bubble in a pocket of the US economy. "There is no acknowledgment today that, yet again, we have a super-duper credit bubble on our hands," he wrote in a note on Thursday.

America's reliance on government debt has reached dangerous levels, with $2 of new debt needed to generate just $1 of GDP growth. Top market expert Ruchir Sharma warns this unsustainable pattern could ...

The unexpected action is intended to tamp down a potential bubble in the bond market fueled ... from Beijing In a striking sign of the Chinese economy’s stagnation, the central bank said on ...