Tada! Yes, there are other variables. Perhaps there is a view of markets and consumer confidence where the tail is not wagging the dog, possibly where improving business conditions raise markets AND raise consumer confidence.
I'm more aligned with the idea that markets may not always drive confidence than I am with the idea that confidence has anything at all to do with the markets. The markets are driven by one thing, and that's central bank activity.
You're correct. The Fed IS the cause. Here you go. Feel free to dispute why the Fed has nothing to do with it if you have anything other than conjecture. Even the Fed governors admit that QE drives the stock market. But you know better then all of them, right, Ricter?
LOL, another thread in which a libtard is trying his hardest to refute the remarkable correlation between QE ad infinitum and the stock indicies.
Early on, one should have realized that QE does not really drive equity prices: QE and the Equity Market: Is the Fed Driving or Along For the Ride? So now an updated report: Is the Fed really driving up stock prices? And in time there will be others, with facts and reality, saying the same thing. Benghazi! Benghazi! Benghazi!
You're a fucking idiot, Covertibility. Ben Bernanke himself has admitted, numerous times, that the main benefit of QE was higher stock prices. Would you like the links? Tell me you don't believe it. Please. You think you know better than the Chairman of the Fed. Your stupidity is positively astounding.
Ben Bernanke admits QE about stock market gains. The Fed has artificially sustained markets. - Dick Fisher, President of the Dallas Federal Reserve bank Bernanke Seeks Gains for Stocks in Push for Jobs: Economy Bernanke's own Op Ed in the Washington Post Where he says: You take stupid to whole new plane of existence, Covertibility.
And if you had read the Pimco report you would see the citation of Bernanke but the problem is risk premiums rose. And the problem with the wealth effect is that it doesn't exist. Shiller up at Yale wrote about that I believe a year ago. Benghazi! Benghazi! Benghazi!
Ah yes, the Pimco report. Dividends certainly warrant all time market highs. Why don't you google S+P Dividends over the last 10 or 15 years and line that up with the market. See what it looks like. As for risk premium, that wasn't the topic of conversation. I get that the mention of it is to debate whether the Fed is "driving the bus or along for the ride" but it's driving the bus. One Pimco analyst doesn't change that. I will agree that the wealth effect is an illusion (again, not that this has anything to do with the discussion). I don't understand why you are shrieking Benghazi over and over again. Is this yet another attempt to redirect the conversation to something else? Or is your daily email chain from the DNC spilling over into your copy paste?