This is getting hideous. As of the moment, the S&P 500 is trading at 24.7X LTM net income, the Russell 2000 have soared to 90X, Amazon to 198X and Netflix to 227X. It's just one rip-roaring melt-up and according to the casino's most servile weathervane, it's all because of booming earnings.
The Mother of All Melt-Ups
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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.