“The current “superbubble” is characterized by an extremely dangerous combination of overvaluation of all assets, a commodity shock, and a predatory mood of the Federal Reserve System,” the New York Post quotes him as saying.
Grantham noted that each cycle is unique, but the historical parallels "suggest that the worst is yet to come."
The investor stressed that the current "superbubble" combines all three major asset classes: housing, stocks and bonds.
They, according to Grantham, were critically re-evaluated at the end of last year.
Earlier, Secretary of the Russian Security Council Nikolai Patrushev admitted that the United States would default on its foreign debt in the foreseeable future.
The head of the Ministry of Economic Development of Russia, Maxim Reshetnikov, also warned about the risk of a recession in the global economy.