Hedge fund mgr Doug Noland on Fed induced market bubbles / endless Moral Hazard.
Asset bubbles haven't stoked GDP b/c the Top 10% owns 85% of stocks🤦‍♂️ Nasdaq P/E 37@ericrosengren @RobSKaplan @RaphaelBostic @marydalyecon @neelkashkari @steveliesman @NickTimiraos @byHeatherLong pic.twitter.com/kacIpiBJ2B
— M/1_LP (@MI_Investments) August 22, 2020
https://twitter.com/UPFINAcom/status/1296974727538515969
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