Ep. 8: Michael Covel Monologue on Trend Following Radio
Michael Covel's Trend Following
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The Fed and the Fragile System
John Husman says investors have to assume that they can safely speculate until some particular date arrives on the calendar and they can all take their profits simultaneously. Chairman, Chairman Bernanke believes that by creating a bubble and speculative assets, people will feel wealthier and keep consuming. Despite the fact that there is extremely weak evidence for any such wealth effect in the historical record.
Play episode from 22:30
Transcript
