Column: Lady Gaga and the tech bubble

Carl Icahn says we’re in a bubble. Larry Summers says we’re not.

Financial media have debated the topic in recent weeks, and both sides have offered some seemingly irrefutable points.

Low interest rates would tend to drive up asset prices; however, high unemployment would tend to hold them back. Stocks aren’t historically overvalued, but then again the economy is historically weak. Corporate leverage is now at 2008 levels, and the picture is even worse overseas, but cash holdings are at record highs.

It’s quiet -- but is it too quiet?

Personally, I haven’t paid much attention to the discussion. When Lady Gaga calls a press conference in Brooklyn to introduce an environmentally-friendly flying dress -- and the press actually shows up -- it seems pretty clear to me that we’re in a bubble.

Full story at Minyanville.