Stocks Rise While Economy Crumbles: The Fed's P/E Trickery
S&P 500 P/E is now ~14 while stocks are preparing to break records, GDP taking huge hit, unemployment+bankrupcies rising,. How is that possible? Part of the answer is Fed’s commitment to never let stock market go down and other part is gaming of P/E ratio: https://www.forbes.com/sites/greatspeculations/2018/11/19/pe-ratios-are-misleading-especially-right-now