A scarcity of honest profits (E1666)
In this episode of Keiser Report, Max and Stacy look at the “growing concern that market-based inflation expectations have become unreliable as indicators,” i.e. the central banks have destroyed the price signal foundational to free and fair markets. In this environment, we see Goodhart’s Law at work: When a measure becomes a target, it ceases to be a good measure. Billionaire hedge fund investor Paul Singer says of the “market craziness” that there is a “scarcity of honest profits.”
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