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Demographics

Jun 19 2020

It’s Demographics, Stupid! (Not The Economy.)

  • Jun 19, 2020

Turn on financial television at any random time, and you’re likely to soon hear the argument that still-high U.S. stock market valuations are “justified” by extremely-low interest rates. We’ve countered that these low U.S. rates are simply a reflection of the secular slowdown in economic and earnings growth.