'No doubt' economy is 'divorced' from stock and bond markets - Social Capital CEO

Chamath Palihapitiya, the CEO of Social Capital and the Chairman of Virgin Galactic, on CNBC said that there is now "no doubt" that the economy is "completely" divorced from equity and bond markets, with the Fed as the "principal agent" of that "obfuscation"Big tech companies have trained consumers to save, he said -- by waiting you get more value, so consumers rely on companies that give them more for less, like Amazon, Facebook, Google, which becomes part of the deflationary supercycle.The profits get "trapped" at these major tech companies which disproportionately perform in the stock market, where other business with traditional business models are left behind, he added.Reiterates stimulus measures must go directly into the hands of taxpayers and consumers rather than current measures which inflate asset prices -- if not, we risk a Japan deflationary scenario.Chamath strongly said that one must admit that asset price inflation does not "trickle