Relevant and even prescient commentary on news, politics and the economy.

You searched for: label/free market fetishism

Stock Market PE

…ratio. Until the 1990s bull market a PE of over 20 on trailing earnings was always a signal of an impending bear market as a PE of over 20 was…

Stock Market when EPS Growth Turns Positive

…previous eleven times, the market was virtually flat. But this flat average was a product of six significant declines or bear market and five rising or bull markets. The average…

General Equilibrium Theory by Popular Demand

…that there are many reasons why free market outcomes are presumably not Pareto efficient. The list of sufficient conditions in the most general description of economies with Pareto efficient market

Paul Volcker Feb.20

…two and a half years. What an enormously rapid change–just reflecting the change in general developments in the market toward reliance on open market securitization and all the rest. Statistically…