GOVT DEFICITS = PRIVATE SECTOR SURPLUSES

The 'tourist explains what too many market pundits seem to be missing

I don’t know about you, but I’m getting overwhelmed with warnings of how “stocks are disconnected from reality” and that “we are headed to a crash of epic proportions.”

These prophets seem awfully confident that it has to end badly. And who knows? Maybe they are right.

But many of them seem to miss an important facet of how the economy works.

The purpose…