Bloomberg radio hosted an hour long dicussion on challenges and ideas to promote recovery in America. Listen here to: Gross, Orszag, Calomiris, Shiller Debate Economy, Policy.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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Quantitative easing, infrastructure spending, jump-starting the economy…. the Soviets had a saying “we pretended to work and they pretended to pay us”. It applies to us as well. Another saying comes to mind…a democracy works only until the voters learn that they can vote themselves money.
In the movie The Exorcist the priest is told that the girl is possessed by 9 devils and the priest replies “no, there is only one devil”. That devil is debt. When you spend what you don’t have or can’t earn it does not end well.