BNSF Railway and Union Pacific are facing the same problem: An unprecedented spike in intermodal traffic that wants to move out of Southern California to Texas, Chicago, and elsewhere in the Midwest.
"We have a huge divergence of what’s happening in the stock market to what’s happening in the underlying economy. Rod Serling could not have imagined how crazy this stock market valuation has become."
The young have every right to be aggrieved: in the US, real median net worth by age has diverged markedly since the 1980s, benefiting the boomers and crushing the youth.
“This isn’t an equity price miracle or the market being irrational. This is the market processing one of the greatest business miracles of all time...”
The economic cycle is tied closely to demographics, debt, and deficit. If you agree with this premise and the data, then the media’s optimistic views are unlikely... rationalizing high valuations today will likely lead to disappointing future outcomes.
"You have lost $2 billion of money that wasn't his to begin with but that he has been telling the world he has. My advice to you is to leave town." This is also my advice to the people at Softbank running money for MBS with the same strategy.
"Either it collapses politically by creating a swing of the political pendulum against it... or it will be the comeback of inflation which will end the bubble..."
Falling prices, the outcome of commercial competition and sound money are more aligned with the interests of ordinary people, but that is so derided by neo-Keynesians that today almost without exception everyone believes in inflationism...
Real Vision CEO Raoul Pal is joined by senior editor Ash Bennington to reflect on the latest financial newsflow as well as Real Vision’s new projects. After…
