‘Good For Main Street,’ Bad For Financial Assets

Let the crocodile tears flow freely. The macro regime has shifted in favor of everyday people, to the detriment of Wall Street. That was one (admittedly sensationalized) takeaway from David Einhorn, who spoke to CNBC on Wednesday. "I think we should be bearish on stocks and bullish on inflation," he said. "We're in a policy now which is probably pretty good for Main Street, but it's going to be increasingly difficult for financial assets." He elaborated: "The Fed does want stock prices lower