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this post was submitted on 19 Jun 2024
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chapotraphouse
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I think we're going to go into a remarkable bubble. It seems like we're probably in a bubble now, but I think it's just getting started and it is going to be much, much more insane in a year. But of course there's no way to predict the future. The falling rate of profit means the earnings on assets are getting smaller and that means typical PE ratios will tend to go up over time, so money will chase stocks up to very high prices in a search for yield that doesn't exist anymore.