Also some discussion on how corp profits are fat, while labor class is slapped on its face at our multinationals.... we've discussed these issues countless times the past four years. Obviously no easy answers to these issues, and without any changes - and absent record government assistance (which have been in place the past three years) - consumption, excluding the top 15-20%, will have a very difficult time expanding. Which is why we're having a 'demand' problem.
As for the market, he is giving the S&P 500 a 'worth' of only 950ish which obviously flies in the face of the major U.S. investment bank/Wall Street conglomerate which is in the 1350-1400+ range.
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