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Wildly asymmetric and unsustainable.
BREAKING: The wealthiest 1% of US earners now own 50.1% of US equity and mutual fund holdings.
To put this into perspective, their ownership stood at 40.1% in 1990 and 39.6% in 2001.
At the same time, the next 9% wealthiest households own 37.3%, and the middle 40% own just
Author Archives: Danielle Park
Extraordinary markets promise extraordinary opportunity for the prepared
In a product-creating financial world paid to sell us growth and inflation narratives, sober risk-reward assessments are not well tolerated. In the past 24 years, I’ve had to be bearish more often than bullish, but it’s not my fault, in … Continue reading
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Central banks trying every trick to boost inflation
I have explained many times that central banks worry that falling inflation (disinflation) and outright deflation reduce the incentive for spending and capital flow into financial markets. The theory goes that if consumers and businesses believe that prices will be … Continue reading
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High market capitalization bodes poorly for investment returns
A December 2020 paper entitled The Big Bang: Stock Market Capitalization in the Long Run, confirms that we have been living through a highly unusual period in financial markets. While advanced-economy stock market capitalization to GDP ratios were pretty constant … Continue reading
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