Inside Wall Street’s Disastrous Start To 2016 | New York Post

Economists have a phrase for that too easy comps. The big problem, however, is Wall Street. Stock prices have been too high for too long propped up by the Feds easy money policy that makes bank accounts unattractive and leaves equities as the only way to achieve a reasonable return. And the high stock prices are dangerous, unless theres a boom in the economy that ignites corporate revenues and profits. Is there a stock market bubble? No doubt. Will the bubble be able to survive until corporate profits catch up? Probably not at least if Mondays Wall Street debacle is any indication. Well, whaddya know: New Jersey is thinking of enacting my recommendation that marijuana be allowed at Atlantic City casinos. Assemblyman Reed Gusciora, a Democrat from Mercer County, recently introduced a bill that would let hotel and casino patrons smoke a joint in those joints. The Asbury Park Press wasnt too impressed.

To read more visit http://nypost.com/2016/01/04/inside-wall-streets-disastrous-start-to-2016/

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