{"id":149031,"date":"2010-01-07T06:03:44","date_gmt":"2010-01-07T11:03:44","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-real-reason-this-rally-cant-be-anything-like-the-great-1980s-surge-2010-1"},"modified":"2010-01-07T06:03:44","modified_gmt":"2010-01-07T11:03:44","slug":"the-real-reason-this-rally-cant-be-anything-like-the-great-1980s-surge","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/149031","title":{"rendered":"The Real Reason This Rally Can’t Be Anything Like The Great 1980s Surge"},"content":{"rendered":"

Here’s a great little letter from Katana Capital (via PragCap<\/a>) presenting the strongest argument for why this current rally can’t or won’t be anything like the great rally we saw in the 80s.<\/p>\n

The bottom line then is that the macro drags were horrible — interest rates were sky high, for example — but the world was full of tailwinds. Now interest rates are 0%, but there are all kinds of numbers, from government spending to household spending to demographics that are getting worse.<\/p>\n

It’s a point that’s been made before, but you don’t hear the bulls — and we’d particularly like to hear from James Grant, as it’s obvious that a lot of his current thinking is informed by the 1980s — address these differences.<\/p>\n

Definitely worth a quick read.<\/p>\n

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094Q letter 1982 vs 2010 section-1<\/a> – <\/span><\/p>\n

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