“Bass starts by reflecting on the ongoing (and escalating) money-printing (or balance sheet expansion as we noted here) as the driver of stock movements currently and would not be surprised to see them move higher still (given the ongoing printing expected). However, he caveats that nominally bullish statement with a critical point, ‘Zimbabwe’s stock market was the best performer this decade – but your entire portfolio now buys you 3 eggs’ as purchasing power is crushed. Investors, he says, are ‘too focused on nominal prices’ as the rate of growth of the monetary base is destroying true wealth.”
Related posts:
China's Strategy In Africa Benefits Both
Czechs unrelated to Chechens, diplomats remark after Boston blast
38,000 Australians take ANZ bank to Federal Court over banking fees
You thought the whole 'EUSSR' thing was over the top? Have a look at this poster
No Exit: China Uses Passports as Political Cudgel
China’s Stocks Enter Bear Market as Rate Cut Fails to Stop Rout
Cops In Texas Seize Millions By 'Policing for Profit'
California’s biggest community college loses accreditation
Drones are cheaper and more powerful. In US, that's a problem, lawmakers told
Prosecutors charge 6 in $300M credit card hacking scheme
U.S. Probes Treasuries Niche That Investors Claim Is Rigged by Big Banks
Prison warden that botched Arizona execution hired by OK D.O.C.
How will Obama defend secret NSA program in court? Letter offers clue.
Obama's visit to Israel gets an official logo
U.S. gives ‘full backing’ to Israel while urging de-escalation of Gaza violence