Yellin’s Minions Blame The Crummy Future on Me, from Stefan Jovanovich

August 24, 2011 |

This chart is part of a study by the SF Fed (aka Yellin's minions). The authors calculated the M/O ratio - the ratio of Middle-Aged (40-49 year olds) in the US population to the Old folks (60-69) - and used it to generate the probable P/E ratio for the stock market. As I have written many times, Mea Culpa!