Yesterday we focussed on the virtual certainty that another recession lies dead ahead, meaning that Wall Street's current version of its ex-items forward year earnings hockey stick is truly preposterous. To wit, the bottoms-up consensus for S&P 500 earnings for the year ending in December 2017 is $132 per share.
Recession Watch, Part 2: Why Fiscal Stimulus Won't Happen This Time Around
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.