the year to date numbers are inviting in a range of + 50-100 % predicated on the presumption that equity slice of future expectations will expand as far as the imagination permits or at least to mars
but the paper machie nature of the wealth effect lasts only as long as sellers resist the urge to turn specie into currency
this act, though fiscally prudent, requires the next buyer of which there may be fewer since the cashier (central banks) intend to provide less of it more expensively
in that classical phrase of economics, everything happens at the margin, well, at the margin then price discovery takes over
but the paper machie nature of the wealth effect lasts only as long as sellers resist the urge to turn specie into currency
this act, though fiscally prudent, requires the next buyer of which there may be fewer since the cashier (central banks) intend to provide less of it more expensively
in that classical phrase of economics, everything happens at the margin, well, at the margin then price discovery takes over
Comments