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/I_Investments (@MI_Investments) August 22, 2020
If we enter a new economy where there are much fewer small businesses and large technology companies control the world, there will be political upheaval.
It will be much worse than any of the income inequality protests of the past few years. t.co/yrGfYcBqbU
— UPFINA (@UPFINAcom) August 22, 2020