ABBEY COHEN FROM GOLDMAN POINTS TO P/Es AS IMPORTANT COMPARISON W/US DEBT BALOONING
One question for abbey (i'm a perma bull) cohen, at what point do you price in ballooning u.s. Debt of 20trillion? this is an irriversable debt that will only balloon further over obama's stay in the whitehouse. when you look at prior p/e (price to earnings ratios) for the u.s. Stock market that were higher in 1999 and other years in history than the current 15 x earnings today, do you really think that there were 17 to 20 trillion dollar debts in 1999 and other years when investors felt comfortable with dumping their hard earned savings into stocks? message to abbey, don't live in a glass jar, there's a big world out there and overseas markets are far more better positioned than us markets after a 100% run over past 5 years. so could it possibly be that money on the sidelines prefers bonds and international etfs and stocks vs an extended us market? i would bet all of abbey's government gifted money to goldman sachs that they do. good luck with your parading on cnbc and bloomberg and all the other money shows, you are the leading indicator for tops and the beginning of liquidation at goldman sachs and other larger chop shops.