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