S&P 500 composite vs US 10 yr yield to 1791 (Logarithmic Chart)
Click to enlarge
Source: Global Financial Data
Have a look above at the visual “Boom Bust nature” that the markets, with a little help fromt he Fed and Human Psychology — helps to create. If we overlaid a chart of volatilty, we would see huge spikes every 5 or so years.
It is worth noting the major bubble of the Equity side: 1929 post WW1 bubble, 1996-2000 tech bubble, 2003-07 credit bubble, olus whatever the hell you want to call the current QE driven thingie.
Critiques of Central Bank intervention do not have a whole lot of work to do to place much blame on the Fed for these last 3 boom & bust cycles.
Ralph M Dillon (firstname.lastname@example.org)
Global Financial Data
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.