13/02/17

Let Them Eat Stocks [feedly]



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Let Them Eat Stocks
// Zero Hedge

For 50 years - until Greenspan's exuberance in the 90s - it took the average American around 26 hours to be able to afford to buy the S&P 500. In the Trumpian utopia in which we find ourselves now, however, the average American worker will have to work four times longer to join the 'wealth-builders' in equity market land.

The last time it cost this much (in terms of hours worked) to buy stocks, it seems the average American decided enough was enough and buyers went on strike asthe DotCom debacle collapsed.

h/t @jtepper2

Of course, we are reminded of Fed's Dudley's 2011 comments that seemed to suggest how lucky Americans were that iPad prices were falling..

During the Q&A, one ....

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