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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Ed Yardeni has been around Wall Street for decades. -- Maybe even back as far as the old Wall Street Week era. Having been around a long time, he brings experience, sobriety, and perspective to his analysis, which is often lacking by most of today's professional "blogsters".

I 'check in' on his blog from time-to-time. This week's post (dated 8/5/19) seem particularly cogent, and covers a lot of ground about markets, the national economy, "stagnant income" (he thinks the data shows income has NOT been static), and much more.


  • @Edmond: Always been a fan of Ed Yardeni.
  • That's really interesting shit, and he makes a convincing argument: deflation, in our current circumstances, is inevitable, and the repeated use of increasingly useless tools by central bankers is like trying to hold back the tide...... But there must have to be serious side-effects of deflation. I learned in history class that during the Great Depression, you could buy a full meal in a restaurant for a quarter, for instance. That much appeals to me!
  • edited August 2019
    @Edmond Thanks for the heads up about Yardeni's blog. His latest entry was definitely worth reading. I used to follow him but somehow lost touch with his writings. My email address is now back in his updates que. It does not appear the central banks are ready to give up on their easy money policies. So, from his perspective, it sounds like additional asset price inflation is probably in the cards. Too bad his cryptic ending comment does not spell out more clearly when he thinks that approach probably won't continue to work any more. It seems like we are already in the era of diminishing returns. Perhaps jeremy grantham's ponderings about a gradual reversion towards the mean for asset prices over several years makes as much sense as anything? Its hard to quickly step too far away from risky assets when interest rates are so close to zero and additional liquidity keeps getting pumped into the system.
  • @davfor thanks for making that explicit. Sometimes I get lost in the details.
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