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A primer on the ideas behind Asset-First Economics and what they mean for investors
In this short (3 minute) video, I review some of the ideas behind my Asset-First Economics framework. I discuss the relationship between the economy’s balance sheet and its P&L (the national income accounts,) and describe the difference in relative size of total assets ($566 trillion) and GDP ($30 trillion.) I talk about the qualitative difference between asset market equilibrium and textbook supply and demand analysis. I talk about the impact of policy change on interest rates and asset prices. And I raise questions about the investment strategy to pursue in an asset-first economy.
You can also view and download the video on YouTube here.
https://lnkd.in/guUuY-dD
I hope you enjoy and would welcome your comments and questions on the ideas.
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