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A Wall Street expert unloads on the ‘Fyre Festival stock market,’ where ‘immaterial’ businesses rule and experience is a liability

Fyre 2 Netflix

  • Vincent Deluard, director of global macro strategy at INTL FCStone, thinks current economic conditions are creating a stock-market environment that can no longer be accurately valued.
  • He explains the “faking-it economy” — one characterized by “capitalism without capital” and “employers without employees.”
  • Deluard also breaks down how access to cheap capital has distorted the competitive landscape.
  • He says this trend will be the most important factor in the next decade.
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Over the past 10 years, the US stock market has more than quadrupled.

After enduring the greatest economic downturn since the Great Depression read more >>>

Source:: BusinessInsider.Com