These central bankers aren’t worried about share market bubbles. Should you be?

With interest rates around the developed world close to zero, and central banks pumping trillions of dollars into global financial systems in quantitative easing (QE) programs, share market and housing prices have been remarkably resilient in the face of the pandemic.

In fact, in Australia, our house prices have now edged above the level they were at before the pandemic struck.

The S&P/ASX 200 Index (ASX: XJO), slipping today, is only 5% below its all time February 2020 highs.

It’s a similar story in China, where speculators are snapping up prime properties. And China’s benchmark CSI 300 Index (SHA: 000300) is just 3% below its own record high which was set last week on 25 January.

25 January is the same date that the United…