I get why young people are getting conned this time, what I don't understand is why anyone over the age of 40 is getting conned again. Is it because they're too busy playing with their coloring books?
Or is it because Wall Street is profoundly corrupt. Investment advisors are recycled car salesmen. Economists are focused on their rear-view mirror. The media think that 2 + 2 = 5. And the Fed is totally clueless?
"All agreed economic outlook had strengthened in recent months"
The bond market laughed when these minutes were released.
Banks got pole axed.
And end-of-cycle retail short-covering rolled over.
There is only one reason that banks would implode upon hearing of further rate hikes. If the rate hikes are imploding the economy.
Beyond financials, automakers have enjoyed a nice rally
And of course, home builders
It's no one's "job" to see this coming.
So they don't.