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JPMorgan: “Central Banks Have Created A Collective Hallucination Where Valuations Are Entirely Fabricated”

JPMorgan: “Central Banks Have Created A Collective Hallucination Where Valuations Are Entirely Fabricated” Over a decade ago we were mocked and ridiculed for saying that the Fed was manipulating and rigging stock markets, pushing risk assets higher (either singlehandedly or via Citadel) and its only mandate was to prop up consumer confidence by preventing a […]

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Three Massive Bubbles in 17 Years: When Will This One Bust? A 60% Decline Coming?

Three Massive Bubbles in 17 Years: When Will This One Bust? A 60% Decline Coming? John Hussman’s presents a message no one wants to hear because nearly everyone is too busy believing for the third time in 17 years that “It’s different this time”. Last week Hussman wrote about Valuations, Sufficient Statistics, and Breathtaking Risks. This […]

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Stocks and Bonds Are Due for a Generational Crash of 75%

Stocks and Bonds Are Due for a Generational Crash of 75% From the point of view of history, a reversion to generational lows is inevitable, and a valuation level around 50% of GDP for stocks is a fair target. If we look back to 1981 valuations of stocks and bonds as a guide to valuations […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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