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Shishiqiushi
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if Rognlie is right doesn't that mean Equities are very over valued right now? Also I know it is taboo to mention that interest rates are centrally planned, but isn't the reason that the return on financial capital has been flat the last 30 years because central banks have been pushing down interest rates for demand management reasons? This certainly is in stark contrast to the 19th century standard of 5% return as Piketty noted.
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Mar 19, 2015