The stock market is definitely not the economy pic.twitter.com/ozsCTr4Ja8
— Sven Henrich (@NorthmanTrader) June 24, 2021
"When the Fed engages in QE…they give a signal to the corporate managers that financial asset prices & financial liquidity is protected…this causes a greater & greater share of corporate resources to be channeled into the financial markets rather than into the real economy.." pic.twitter.com/eoogWlWfRO
— Rudy Havenstein in a white wine sauce with garlic. (@RudyHavenstein) June 22, 2021
* S&P 500 HITS RECORD HIGH
* NASDAQ COMPOSITE INDEX HITS RECORD HIGH@CNBC pic.twitter.com/TZvUEixQgz
— Carl Quintanilla (@carlquintanilla) June 24, 2021
Print more workers t.co/hqY5Mq9hsr
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) June 24, 2021
This is a really interesting chart. It looks like, perhaps, the pandemic created a shift to online grocery delivery that will prove to be more durable than some of the other shifts, which are proving to be more temporary. pic.twitter.com/8Swfk2SWBy
— Joe Weisenthal (@TheStalwart) June 24, 2021
The problem with the US inflation debate is that it's heavily ideological. Many of the commentators who espouse the low inflation view are also in the "debt is free" and #MMT camps, i.e. have a vested interest in swatting down any possibility of underlying inflation pressure… pic.twitter.com/p76RJWWlNC
— Robin Brooks (@RobinBrooksIIF) June 24, 2021
Everybody’s Everything Bubble: Shiller CAPE Ratio Climbing With Fed Monetary Stimulus
I call this the Everybody’s Everything asset bubble. Take a look at Robert Shiller’s CAPE (Cyclically-adjusted Price-Earnings) ratio. It has been rising ever since The Federal Reserve a…