Friday, May 1, 2015

Fed "Bound And Determined" To Engineer "Full-Fledged Bubble"

Jeremy Grantham: "I still believe that before this cycle ends, the quantity of U.S. deals, including co- investments, should rise to a record given the unprecedented low rates and the current extreme reluctance to make new investments in plant and equipment (how old-fashioned that sounds these days) rather than into stock buybacks, which may be good for corporate officers and stockholders, but bad for GDP growth and employment and, hence, wages."

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