MAXIMUM RISK ON:
Because Greece is "fixed". Bernie Madoff approved the deal. Everyone was so happy, they threw their remaining life savings away at the casino, just like post-Lehman, below:
Goldman Skynet orchestrated a gap up short covering rally on news that Greece is 'fixed'. All shorts have covered. We saw this movie before in 2008, post-Lehman. Ironically it was the successful (second) TARP vote that cleared out all shorts and allowed collapse to proceed.
All of the usual profit-less junk made new highs today, while everything real lagged. Did the hook just get set?...
"More Risk Please"
Russell /Dow ratio
"Economy": aka. Foreign object.
The Fed doesn't control interest rates. Global deflation controls interest rates, and has ever since Bonzo went to Washington. The Fed is just along for the ride, riding the sand worm in Dune.
Global carry trades, in no way conned by the Fed's serial liecovery, are tightening for them - taking away the global punch bowl...
Today's gap (not shown) will have the shelf life of a rotten banana.
There were early clues this might not all work
8.6% compounded annually for 35 years.
According to Supply-Side Voodoo Economics, you can borrow your way out of debt, as long as you cut taxes enough for the ultra-wealthy - preferably to zero. And then let the miracle of bread crumbs flow. Nevermind that there is no tax base. You make it up on the volume. The decades-long tradition of believing anything, had begun. A wise man once said: "It just isn't going to work". Before he sold out to the Idiocracy. It was morning in America. The long nightmare of economic reality was over, and the long debt-sponsored joy ride was beginning.
Boy-Men actually think we live in the "Keynesian Era". Why? Because they're boy-men. Bruce Jenners in waiting. Raised on total fucking bullshit and unable to accept that Disneyland is going away. The Stagflation of the 1970s was due to the U.S. going off of the gold standard. Only a sustained increase in the money supply can create sustained inflation.
Denialation. It's a problem that fixes itself. With enough help from Goldman Skynet and Wall Street's serial psychopaths.
Who knew that only Wall Street could fix Wall Street?