“If the economy was booming with stock prices at reasonable levels, we could take comfort that good times really had returned. But I don’t feel able to trust a recovery that is financed by an overpriced stock market. Overpriced stocks makes us feel that it is safe to spend again. But the financial security pushing spending forward is illusory.”
USAGOLD note: A short, sensible assessment of the relationship between today’s stock market values and the economy at large – potentially an elaborate house of cards.
Repost from 10-29-2019