What we define as a bubble is any kind of DEBT-fueled asset inflation where the cash flow generated by the asset itself - a rental PROPERTY, office building, condo - does not cover the debt incurred to BUY the asset. So you DEPEND on a greater fool, if you will, to come in and buy at a higher PRICE.

Author - James Chanos

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What we define as a bubble is any kind of DEBT-fueled asset inflation where the cash flow generated by the asset itself - a rental PROPERTY office building condo - does not cover the debt incurred to BUY the asset. So you DEPEND on a greater fool if you will to come in and buy at a higher PRICE.
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