Say it ain’t so Joe!

Doug Henwood, in his book Wall Street, argues that the q ratio fails to accurately predict investment, as Tobin claims. “The data for Tobin and Brainard’s 1977 paper covers 1960 to 1974, a period for which q seemed to explain investment pretty well,” he writes. "But as the chart [see right] shows, things started going away even before the paper was published. While q and investment seemed to move together for the first half of the chart, they part ways almost at the middle; q collapsed during the bearish stock markets of the 1970s, yet investment rose

Also this Russell Napier, is a bear market scholar, he only is helpful if the market is going to continue to decline, so I tend to discredit those people

Just thinking aloud here, but isn’t the concern inflation, not deflation?