Money & Markets Report: June 3, 2021

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Friction Matters

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142 Comments

  1. Beautiful flawless presentation. I kinda miss the flaws though, it feels a bit less real now.
    On the Ask Catherine front, I have a sort of query I find hard to frame. I’m an outsider to the financial space, and I cannot figure out why
    P = G – T (or Corporate profits ~= Government Deficit )
    never gets discussed.

      1. It’s like sitting across the table from you. 🙂
        FWIW, my take on Profits:
        year : Total Cap Tn : Deficit Bn : P/E
        2005 : $17Tn : $394Bn : 18
        2018 : $30Tn : $1044Bn : 22
        2020 : $43Tn : $3000Bn : 38
        The numbers are a bit flaky : I’m unsure what to make of the 2020 data.
        It seems that the Deficit has gone into Savings instead of Profits. As always I could be wrong, but my point is that nobody wants to know.

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