I had the impression you were of the opinion we've seen the highs until sometime in 2014, among other things. I must have not read that correctly. And that you were pretty comfortable with a certain list of 100 year comparisons, and the other stuff you sent me.
I must have totally misunderstood your reply.
Speaking for myself, I'm not at all a fan of Yardeni, who aside from being way past his sell by date, can never be forgiven for his y2k hypsterisms. He, is on the top ten list, of people who promoted the nasdaq and forward NAV accounting all the way to the top, where it all caved in just like the hype he promoted. Horrid man.
If he wasn't an outright crook, he clearly has no business calling himself an economist while promoting and supporting dangerous bubble markets, let alone a judge of fair value, or indeed, forecasting a forward valuation of anything at all.
Of course, if he's promoting this one, well then, he's consistent over more than a decade. and he proves, even he can still make a living out of "up." Just one more subsidized by the Fed and paid for by the general population in the next bust, plus depreciation of the currency, ad nausem.
The people pay for all this, in the end. If they only knew who the real traitors were. |
