If you like charts the one below is an interesting one. David Stockman in a recent piece writes that the S&P has moved nowhere for 600 days. That’s right. The S&P 500 first crossed the 2060 threshold around
mid-November of 2014, and has made upwards of 40 attempts to rally since
then—-all of which have failed to be sustained.
In market jargon such action is usually called distribution and presages a bear market. In this case, given all easy money all these many years now, nearly a decade, a big bear market. Why would it be anything less. Call it, if you want, the law of magnitude. A long way up usually corresponds with an even longer way down when you're talking markets.
Some believe this market is the third the Fed has created in the last 15 years. Other think there is actually about five bubbles around, stocks, bonds, student loan debt, real estate and even sum prime auto loans.
That reminds of a sign in front of a popular eatery we espied one summer years ago in rural Alabama as we were driving through. "Great Food, Great Prices, Great Service. Pick Any Two."
davidstockmanscontracorner.com/the-curse-of-wealth-effects-central-banking
In market jargon such action is usually called distribution and presages a bear market. In this case, given all easy money all these many years now, nearly a decade, a big bear market. Why would it be anything less. Call it, if you want, the law of magnitude. A long way up usually corresponds with an even longer way down when you're talking markets.
Some believe this market is the third the Fed has created in the last 15 years. Other think there is actually about five bubbles around, stocks, bonds, student loan debt, real estate and even sum prime auto loans.
That reminds of a sign in front of a popular eatery we espied one summer years ago in rural Alabama as we were driving through. "Great Food, Great Prices, Great Service. Pick Any Two."
davidstockmanscontracorner.com/the-curse-of-wealth-effects-central-banking
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