Like we said yesterday: Wall Street’s claim that the economy’s good, earnings are good and rising yields are all priced-in is just plain nuts.
That’s just an admonition saying you were born yesterday—so just shut-up and BTFD!
“Yesterday” in the casino, of course, represents an unprecedented and unsustainable aberration. That is, sub-zero real money market rates for 9 years running and drastically falsified bond yields that have fueled massive speculation and malinvestment.
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