We tend to be uncomfortable with the notion that an economy's fundamentals do not determine its asset prices, so we look for causal links between the two. But needing or wanting those links does not make them valid or true.
Read Full Article »We tend to be uncomfortable with the notion that an economy's fundamentals do not determine its asset prices, so we look for causal links between the two. But needing or wanting those links does not make them valid or true.
Read Full Article »