Lawler: Observations on the Recent Surge in Net International Migration
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Today, in the Calculated Risk Real Estate Newsletter: Lawler: Observations
on the Recent Surge in Net International Migration
A brief excerpt:
NOTE: Hous...
2022-01-13
Inflation History
From Springtide
What sticks out to me is the P/E ratios. There's no way to reconcile the high P/E of the current market with high returns going forward if inflation takes off.
I think the relevant period if inflation takes off, is the early 1970s. It was a stock market high and inflation was taking off. A major supply shock disrupted the economy and the central banks tried printing their way out to avoid a recesion. Additional similarities: there was an extremely unpopular president, rising political violence, wacko crime policies from the Democrat party, intelligence and federal law enforcement agencies run amok, a disastrous exit from a failed war, negative social mood and the nation was being eclipsed by its main foreign rival...
Labels:
Federal Reserve,
inflation
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