Back before Artificiality
The time back before the mid-1980’s, a time when fundamentals mattered. A time when the ramp up economics after WWII had to be brought back to reality by Paul Volcker when inflation got out of hand. This was a time when the money supply mattered, analysts looked to fundamentals to gauge the direction of the market. That time has been gone since 1994 when Greenspan got really involved in his brand of artificiality.
Today it seems like the only reason for the markets to exist is to provide opportunities for traders. Like the recent choreographed bounce of the S&P from 1812 to 2016 that has provided a very over bought opportunity for traders. What seems almost silly is how the so-called fundamental analysts use the market data as their primary input. Yesterday all the talk was that the recent rally in commodities and stocks indicate that we have seen the bottoms and markets are headed higher. Hmmm.
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