A Tough Break (EP.278)
Animal Spirits Podcast
00:00
The Fed Is Not Going to Pivot, Is It?
The era of easy money is over and not only is it over, it's not coming back. Stocks were trading at 23 times earnings over the last decade or whatever the number was. If you think 13 looks cheap, you might have another thing coming. It kind of feels like all of our cycles are going to be manmade from now on.
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