For some reason, I assumed this circus was ending: The economy was heading towards recession, global stocks were in a bear market, the trade war was escalating. It all had a very 1930s feel to it. But, of course, I had forgotten "Hendry's Iron Law" of Disney markets:
"The worse the reality of the economy becomes, the more we take on the reflexive belief in further and dramatic monetary expansion and the more attractive the Disney market looks"
All good. Fast forward six months and now that gamblers are fully lubricated going into recession - I feel this time maybe the last fool was found. In any event, one thing is abundantly clear, over ten years from when I started this blog - I personally had nothing to do with any of this. Something to tell my grandkids, when they ask me why everyone in my generation was such a readily conned jackass.
MMT profligacy is the new super juice:
So far, December is kicking off deja vu of last year, with a fake trade truce. Trump asserted this past Thursday that a trade deal is imminent, which he clarified yesterday to mean one year from now. Or never.