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With apologies to Bruce Springsteen, as the Fed prepares to cut interest rates for the first time in a decade, it looks like There Is No Alternative (again!) to U.S. equities. Is the S&P 500's rally to a fresh record a new lease on life or the last gasp before it succumbs to a corporate earnings slide? Two of Bloomberg’s finest, senior markets editor and columnist John Authers and cross-asset reporter Vildana Hajric, join Mike Regan and guest co-host Emily Barrett on this week’s “What Goes Up” podcast to discuss.It's a sober view from these stock market highs. Authers walks us through the signals he’s seeing in Shiller’s CAPE measure, which suggest that current valuations are "utterly, utterly dependent at this point on low interest rates." Hajric prepares us for a less-than-stellar quarterly earnings season but, as a special bonus, she catches us up with what’s going down in the world of Bitcoin billionaires, the Winklevoss twins.

To listen to more from this podcast click here.Mentioned in this podcast:Shiller's CAPE Reveals Dangers Lurking in Stocks: John Authers Maybe $5 Trillion Is All That Can Be Wrung From Stocks This Year Grim Earnings Forecasts Are Getting Worse by the Week in S&P 500

To contact the authors of this story: Michael P. Regan in New York at mregan12@bloomberg.netSarah Ponczek in New York at sponczek2@bloomberg.netEmily Barrett in New York at ebarrett25@bloomberg.net

To contact the editor responsible for this story: Topher Forhecz at tforhecz@bloomberg.net

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