Good morning. Good question: “should stocks be worth more now than they used to be?”

http://theirrelevantinvestor.com/2017/02/13/should-stocks-be-worth-more-now-than-they-used-to-be/

Another blog on the mismeasurement of productivity

http://www.frbsf.org/economic-research/publications/economic-letter/2017/february/does-growing-mismeasurement-explain-disappointing-productivity/

Following that extremely bullish China story yesterday, a bit reflection today

https://ftalphaville.ft.com/2017/02/15/2184520/what-chinese-monetary-tightening/

“Passivity Is The New Activity”

http://dealbreaker.com/2017/02/mike-mcdonlad-get-passive/

On home equity in the US

http://libertystreeteconomics.newyorkfed.org/2017/02/the-evolution-of-home-equity-ownership.html

That does it: Nigeria falls of the where-to-go-on-holiday-list

http://www.economist.com/blogs/graphicdetail/2017/02/daily-chart-10

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