Extreme Prices, Trapped Fed and Scapegoats

by Gary Christenson
Miles Franklin

Breaking news: Coronavirus spreads, impeachment circus continues, more all-time highs in stocks and palladium, Tesla market cap, and Fed injected liquidity boosted stock markets.

[…] Since 2009 stocks have risen into a bubble fueled by inexpensive debt, buybacks and QE. Most commodities have not matched the price increases. Palladium is an exception—more later.

[…] The ratio of the commodity index to the S&P 500 Index sits at a historic low. Commodity prices are relatively low, and the S&P 500 is too high. That ratio will reverse.

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