Inter Temporal Rate of substitution & allied concepts

So, I have really gone bonkers with these topics that are so closely related to each other.
If someone could help creating a difference among these concepts that ll be of great help.

In reading 49, just after explaining the concept of ITRS, it goes crazy. First it explains, why Ut is low when Income is high in future, but in the very next topic it says No No, Uo is actually low in good times.

Similarly, first it explains that a risky asset will carry a negative covariance between expected future prices and investor’s MRS but in the very next concept it says NO NO, actually most risky asset have a positive risk premium.

What am i missing? Pls somebody help.

Coincidentally, I’m writing an article on ITRS as we speak. Give me a couple of days to finish it up; I’ll let you know when it’s ready for prime time.

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any news on the article that you were writing?

Sorry: I got a bit sidetracked last week. My wife got her second COVID vaccine and was feeling rotten for a couple of days, then our son’s cat got into some medicine and was in hospital for a couple of days.

I hope to finish it this week. I’ll be sure to let you know when it’s done.

Hope your family is doing fine now!!

shall wait for your update. Thanks