The Animal Kingdom Fattens and So Does the Shiller P/E

Animals are getting fat:

Cats and dogs, for example, both increased in weight.  Female cats increased in body weight at a rate of 13.6% per decade and males at 5.7% per decade. Female dogs increased in body weight at a rate of 3% per decade and males at a rate of 2.2% per decade.

Interestingly, this trend is broad enough to include control mice used in scientific experiments.

Control mice are typically allowed to feed at will from a controlled diet that has not varied much over the decades, making obvious explanations less plausible.

It’s still a mystery. From the abstract to the original paper here:

The consistency of these findings among animals living in varying environments, suggests the intriguing possibility that the aetiology of increasing body weight may involve several
as-of-yet unidentified and/or poorly understood factors (e.g. viral pathogens, epigenetic factors).

Next, stock and bond markets might be overvalued again.

The Shiller P/E is now 24.4, about the same level as August 1929, higher than December 1972, higher than August 1987, but less extreme than the level of 43 that was reached in March 2000

I know, already?! I have no idea how it all fits together but I have to think this is involved (extra points if you can figure out which way correlation runs):

Professors Thomas Piketty and Gabriel Zucman of the Paris School of Economics have performed the heroic task of measuring wealth for eight leading economies: the United States, Canada, Britain, France, Italy, Germany, Japan and Australia.

Their estimates reveal some striking trends. For instance, wealth accumulation in these eight countries has risen relative to yearly production. Wealth-to-income ratios in these nations climbed from a range of 200 to 300 percent in 1970 to a range of 400 to 600 percent in 2010. Behind the changing ratios is some bad news, namely that slow productivity growth and slow population growth have depressed income growth, but also some good news — that relative peace and capital gains have preserved wealth.

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