But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade? ― Alan Greenspan (1996)
Very good summation Fabian. the overriding characteristic, in my view, is that there is no way to discern a future direction in the medium term based on the current mixed bag of data. Who knows which reports are the best indicators? After all, the inverted yield curve indicator has certainly underperformed and that was always considered one of the best.
Very good summation Fabian. the overriding characteristic, in my view, is that there is no way to discern a future direction in the medium term based on the current mixed bag of data. Who knows which reports are the best indicators? After all, the inverted yield curve indicator has certainly underperformed and that was always considered one of the best.