The ratio of net worth to income made a new all-time record high last quarter: Natixis economist Joe Lavorgna
Elevated asset valuations relative to disposable income are less a sign of “wealth” than a sign of impending market losses.
CUMULATIVE #GDP GROWTH MINUS FEDERAL #DEBT ISSUANCE < ZERO
— Alastair Williamson (@StockBoardAsset) March 21, 2018
— Jesse Felder (@jessefelder) March 20, 2018