Big Tech Wreck As Earnings Disappoint | Weekly Round Up
Supply Shock
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Is There a Rational Exuberance?
"It makes my head hurt to listen to the contortions that you have to do to justify these valuations," he says. "I think what the Fed did, and we've talked about this a lot, is the Fed said, there is a rational exuberance." The housing market has collapsed because people can't afford new mortgages or sell their old homes at prices they're willing to pay. But companies are actually slashing payrolls in an effort to make up for lost revenue.
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