Which Stock Market Is Scarier: U.S. or China?

It’s scary stock-market ratio day! Bloomberg’s Lu Wang and Jennifer Kaplan point out that economist James Tobin’s Q ratio — companies’ market value divided by the replacement cost of their assets — is higher for U.S. companies “than any time other than the Internet bubble and the 1929 peak.” Meanwhile, […]

Bloomberg via CHINA US Focus http://ift.tt/1AjOQLU