Epsilon Theory on Tape: Pecking Order
Epsilon Theory Podcast
The Mitch and Murray Pecking Order
The world's central banks have inflated the prices of all financial assets everywhere in the world. The really rich own a lot more stocks than the merely rich. Higher stock prices will boost con sumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.
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