California Dreamin'
Comment of the Day

October 04 2019

Commentary by Eoin Treacy

California Dreamin'

This note from Yardeni Research may be of interest to subscribers. Here is a section:

Eoin Treacy's view

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The one thing we know is the consensus’ in markets seldom reach the worst or best predictions of investors. The rationale for MMT is compelling. The US government is already running a $1 trillion deficit in a boom and needs to pay for that with a large issuance of bonds. Since this is occurring before a crisis, investors logically conclude that trend has to continue in a linear manner. However, we have ample evidence of outcomes eventually working out much differently in reality.

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