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Economic Torture Incoming With David Stockman

Lead-Lag Live

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The Fed Is Not Pricing the S&P 500 Earnings

The Fed has become so dominant in the financial system, especially since Greenspan started inaugurated. The market isn't pricing GDP or S&P 500 earnings that flow over a period of time. But day to day, week to week, the market is pricing the Fed. And that means that capitalism is essentially thick. It's been badly impaired by a dominating central bank.

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