As I have commented recently, my mainstream media interviews have almost totally dried up – even with Fox Business. The last three I have done have been more about my on-the-ground experience in Puerto Rico!

It makes perfect sense though. Bubbles always suck everyone in before they implode. The financial media, like CNBC, become cheerleaders for the bubble. Bears turn to bulls. And almost everyone goes into bubble denial.

But mark my words here: This third and final bubble (fourth if you count 1987) is now the biggest and most obvious bubble in this boom since 1983. And it’s as overvalued as at the top of 1929!

And the fact that no one wants to hear about it is an ominous sign that it may well be peaking!

Everyone is getting a free lunch…

… stock prices are much higher than fair value; same with real estate prices…

… mortgage and car loan rates are the lowest ever…

… business borrowing costs are almost negligible.

Higher net worth, lower living costs – what’s not to like?!

And if that’s not enough, now people, especially business owners and major corporate executives, are going to get some major tax cuts. Some as high as 87%!

No one wants it to end.

So, everyone goes deeper into bubble denial.

What people conveniently forget is that bubbles like this make our unprecedented income inequality worse because inflated financial assets greatly favor the top 0.1% to 10% that owns the great, great majority of them.

Another thing they forget is that the deeper into denial they go, and the higher the bubble inflates, the bigger the crash when it finally all unravels. More people get hurt because they were suckered into a fool’s game.

It was everyday people that got slaughtered in the China stock bubble crash in late 2015. They got in the latest and could least absorb the loss. It happens that way every time.