Capital expenditures, employment, stock prices, forward dividends

Roger Farmer Correlation between employment and stock price, up to a point

Political Calculations Stock price adjusts high when forward dividends are expected to grow.

Zero Hedge  Emphasis on the profits equation, where dividends grow then either profits grow, or something falls, like capital expenditures.

Long term trend since the 1980s of capital expenditure decline.

The tight correlation between fed announcements and forward dividend estimates make me think that stocks are money.   Much of this is new terminology, yet again.

Then the Fama thing. Is it rational for large brokers to accept the suppressed interest rates while awaiting the outcome of bankruptcy negotiations in DC?  Yes, it might be. If the players few, and transactions large; then a predicted plan for a 20% correction in stock prices can be had, with fair risk sharing. In other words, bubble make sense in illiquid markets, where queueing order becomes important.  That is the Levy moment.