October 22, 2018

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The Noflationist Case for Blue Chips

Investors generally are even more confused than normal about where to put their money.

The bond markets, with their record high prices for the lowest-risk securities, suggest a long period ahead of poor economic growth. Equity markets, by contrast, have come through a troubled summer in good shape, suggesting that the gloomy forecasts of a double-dip recession ahead are wrong. [Read more…]