The stock market rally since the beginning of the year is seemingly relentless. Regardless of whether the market-related news is good or bad, stocks seem to fight their way higher day after day...perhaps stocks will simply blow through this resistance and break out to new highs. But given the widespread risks that continue to overhang the global economy and its financial markets, it is worthwhile to pay close attention to markets at these levels. And exploring what other opportunities may be currently presenting themselves beyond the stock market would be at a minimum prudent. It will be interesting to see how it all plays out.[ emphasis added]
Comment:
What he's describing is a bubble. The Fed deliberately popped the bubble in 2000 and now it is deliberately blowing up a new one. Whereas, before, the Fed popped it, this time it may be popped by an external force.
It is symbolic, I believe, of this country's failure to govern itself properly. Asset bubbles are not a thing to be pursued, but to be avoided. Curious to me that the government should be pursuing a bubble. The fact that a symptom of distress is actually pursued as a solution to a problem is not a good sign for the future.
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