One Perspective On Our Economy
December 3, 2020
I don’t agree with Milton Friedman all the time but that is a priceless quote.
Below is an article from Axios which attempts to explain how our economy has fundamentally changed. The story seems to make sense. And our minds like stories that make sense, whether they are correct or not.
I’m always hesitant to make $ decisions based on the belief that there has been a fundamental and permanent change in the way stocks are valued. Perhaps that explains why I have missed times to sell as well as times to buy. 🤪
Then again, as my Darden professors would have said, “That’s a very nice [hate that word] qualitative argument. Now, how about some numbers to back it up.” But I suppose that is not something that Axios readers demand.
I’ll probably just continue my random walk. And on that walk, I’ll be dumbfounded on who pays $800,000 for a two-bedroom house in Boulder. Those who are neither long on stocks and/or on real estate have really missed some unprecedented wealth creation times. I fear the ever increasing wealth inequality is not a positive for our country.
So much for my economic opinion. On to the article: