Valuations don’t matter. Earnings don’t matter. Fundamentals don’t matter. Stock returns are being driven by one primary force right now – Fed liquidity.

One thing has been bothering us for six years. How can so many economists and economic commentators dismiss the ever-increasing market meddling of central banks so lightly? The first time we warned about this possible threat to financial markets was in December 2013. In the report, we wrote:..

Source: https://prepareforchange.net/2019/12/18/valuations-dont-matter-earnings-dont-matter-fundamentals-dont-matter-stock-returns-are-being-driven-by-one-primary-force-right-now-fed-liquidity/