Economist Hanke: 2 Market Bubbles Will 'Mug' Investors

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By    |   Sunday, 12 July 2026 08:21 PM EDT

The U.S. stock market is riding on abundant liquidity and investor optimism, but renowned economist Steve Hanke believes those forces are masking dangerous imbalances that could eventually lead to a significant market correction.

In an interview with Mario Nawfal, Hanke said Wall Street is simultaneously experiencing both a valuation bubble and an earnings bubble — conditions he believes cannot persist indefinitely.

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