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Thread: David Stockman: Fed Has Created Gargantuan Global Bubble

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    Senior Member Franco's Avatar
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    Default David Stockman: Fed Has Created Gargantuan Global Bubble

    We all know what happens to bubbles. Stockman was Reagan's Budget Chief.

    Fed Has Created Gargantuan Global Bubble

    http://www.moneynews.com/StreetTalk/...#ixzz2lsHihgyv
    Last edited by Franco; 11-27-2013 at 01:12 PM.
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Senior Member Franco's Avatar
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    Here's a cool video from earlier this week. EU Parliament member quoting American Maury Rothbard.
    http://lionsofliberty.com/2013/11/27...ting-rothbard/
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Senior Member Buzz's Avatar
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    Go back and read the last three paragraphs of the article.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Senior Member Franco's Avatar
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    Quote Originally Posted by Buzz View Post
    Go back and read the last three paragraphs of the article.
    These three? "To be sure, the price-earnings of another index—the Standard & Poor's 500—indicate we aren't in a bubble, at least one like 1999, says Mark Hulbert, editor of Hulbert Financial Digest.

    He notes on MarketWatch that the S&P's price-earnings (P-E) ratio, based on 12-month trailing earnings is 19.1, compared to 29.7 in December 1999.

    "Please, let’s stop the comparisons to the Internet bubble," Hulbert says."

    Buzz, do PE ratios really mean anything today? If they did, why is the Dow now over 16,000 given the state of the economy or corporate earning for the Dow Industrials? Also, Stockman is talking about price to earnings worldwide. It wasn't that long ago, early 90's that the safe PE ratios were in the 7 or 8 to 1 ratio.
    Last edited by Franco; 11-27-2013 at 01:28 PM.
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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