(07-07-2017, 03:31 PM)Mikebert Wrote: My second published paper. This one is about the inequality turnaround of a century ago that was completed during the last 4T.
It does not yet bring the S&H theory into the mix, (this is for the third paper that I am still working on).
http://escholarship.org/uc/item/42p5m46m
I enjoyed the paper. Why do you believe the next recession will necessarily lead to an extremely large stock market correction (55%)? Why can't economic rents accruing to the market power of large corporations continue keeping profits elevated above historical means (correcting for recessionary effects, of course), as well as the Fed buying up debt, equities and who knows what else to keep the ship from sinking?