#44: Julian Brigden On The Fed's 'Impossible Trinity'
Superinvestors and the Art of Worldly Wisdom
The Sea Change in Fiscal and Monetary Policy
The US economy is so financialized now that ever allowing a correction in the equity market is in itself almost impossible. The Fed is in this unenviable situation where having inflated these asset prices, you could argue that they've taken the PE from about 12 to 30. Housing, right? These states on fire now, because people are trying to move in to a highly limited marketplace. They've created this, what I call, they've created this crack addict and they can't step back.
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