The Wall Street Journal today has an article the suggests that the stock market is "disconnected" from reality. Despite this, the Dow is up 200 points and the S&P500 index is at a new all-time record high! This bubble just gets bigger and bigger.
Friday, August 21, 2020
Thursday, August 20, 2020
Stocks Rise Despite Dreadful Economic News!
This headline on CNBC today seems to summarize well the risk! Ironically, stocks have been modestly HIGHER all day despite this news!
First time claims for state unemployment benefits rose above 1 million again, a sign to some economists that the economy’s rebound could be decelerating.
Wednesday, August 19, 2020
Jim Cramer Tells Us Not to Be Fooled By This Market!
Jim Cramer told us today on Marketwatch not to be fooled by new market highs! He warns us that despite a new high for the S&P 500 index, the economy really isn't as strong as that new high would imply. "‘The S&P’s new highs are a tale told by an idiot, full of sound and fury, signifying nothing about the hardship of millions of people on food stamps, or the millions about to be fired from service jobs, or the homeless, or the people who are just huddled at home waiting for the vaccine..." he says.
Tuesday, August 18, 2020
Monday, August 17, 2020
Sunday, August 16, 2020
Dow Has Best 100 Days While GDP Drops 32.9%! What?
Someone needs to tell this market that it needs a dose of reality! In Q2, US GDP dropped 32.9%, but the stock market ROSE the most since 1933.
Market Continues to Ignore Reality
“Never before have I seen a market so highly valued in the face of overwhelming uncertainty,” says James Montier on Marketwatch today.
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