10-20-2015, 01:38 AM
Stock performance has been weak for the past 15 years. If history is a guide, it's likely to stay weak for at least another 10 years. Why? Because stocks are still fantastically expensive relative to most of recorded history. And in the past, when stocks have been this expensive — or close to this expensive — performance over the next decade has been lousy.
History suggests stocks are overvalued - Business Insider
As we explained last week, most of the reason for soaring prices "devolves from a backroom deal cut when the Bush administration set in motion the Medicare Drug benefit and inexplicably (if you’re not a lobbyist) gave away the rights of the US Government - the nation's largest buyer of pharmaceuticals - to negotiate drug prices with suppliers."
Companies looking to get the government to set rules that just happen to benefit their bottom lines often seek out wonks looking to supplement their pay who will make arguments on their behalf in a dispassionate way. The resulting work isn’t submitted to academic journals, which means it doesn’t need to go through a rigorous peer-review process—or any peer review at all. So it should surprise absolutely no one to discover that Litan and co-author Hal Singer’s work supported the Capital Group’s nyet position on the administration’s proposed protections.
If households save to accumulate a target level of wealth, either to live off in retirement or to bequeath, then an increase in wealth (because say equity markets rise) will see a lower required savings rate; and vice versa with declines in wealth raising the savings rate. In turn, a rise in the savings rate, or what is the same thing a fall in the consumption rate, will lower aggregate demand in the economy. This dependence of the savings rate on wealth is widely recognized, including by various members of the FOMC.
Savings rate increases - Business Insider
And the best thing about the Surface Book? As well as offering desktop-class performance thanks to its Skylake internals and dedicated Nvidia GPU, a 12-hour battery life and a full version of Windows 10 Pro, the display can be removed. Microsoft made jaws drop when it revealed that the Surface Book's 13.5in display, which has a 3,000x2,000 resolution, can be detached, something which sees the firm imagining a hybrid device like none seen before. Microsoft hasn't just made a tablet with a detachable keyboard, it's designed a whole new hinge and attachment mechanism, something its long list of OEM partners have so far failed to do.