S&P EPS will be unchanged from 2018 until at least the end of 2021: three years of no profit growth pic.twitter.com/XqMZq0KB96
— zerohedge (@zerohedge) October 11, 2020
Biden Will Hike The Top Capital Gains Tax Rate To 39.6%: What That Means For Markets https://t.co/Ve5EpYv07d
— zerohedge (@zerohedge) October 10, 2020
🇺🇸 My guess is that JP estimates look very optimistic:
1/ It would be the largest increase in U.S. history (from 23.8% to 39.6%)
2/ Top earners now hold more stocks than ever.
3/ Valuations aren't attractive.https://t.co/aBcgCfgVh2
— Christophe Barraud🛢 (@C_Barraud) October 11, 2020
— jeroen blokland (@jsblokland) October 11, 2020
Here's the set up.
ZERO big gold discoveries in the last 3 years.
-Monetary dilution up the wazoo
-Historic debt imbalances everywhere
-NIRP & ZIRP
This has to be the largest demand-supply mismatch in the history of gold.
— Otavio (Tavi) Costa (@TaviCosta) October 10, 2020