France’s CAC 40: Nail In the ‘Fed-As-Market-Opium’ Narrative

France’s best-known stock index, the CAC 40, is up 18 percent over the last twenty-five years. The S&P 500 is up 24 percent over the last two months. These numbers rate comment. For one, they vivify the stupidity of so-called “trade deficits” in the U.S. There’s no such thing, nor is there such thing as insufficient savings […]

France’s CAC 40: Nail In the ‘Fed-As-Market-Opium’ Narrative Read More »