Let me just say it this way: Folks – you can’t make this stuff up.
Who knew this much bad e.g., Riots, burning of stores, looting, record joblessness, etc., etc., etc. would be so much good for the “markets.” As I type this the Dow™ is up 4% and the S&P 500™ over 3%. We are now within spitting distance (the NASDAQ™ already has) of the “never before seen in human history highs.”
Dear readers, when I’ve said, “They’ll be looking back at us in history and wonder, ‘WTF were these people thinking?!'” I’ll leave them to their own conclusions to wrestle with, because theirs will be just as insightful as mine. i.e, Who knows, because I surely don’t. We’re now so past crazy even Carl Jung would be lost for words.
I will say one thing: I’m starting to get quite a few notes and calls from different people I know that are now completely and utterly mind-boggled. Here’s just one example of a conversation I just finished that propelled this missive…
Me: Hey, what’s up?
Them: The markets! I was just listening to an interview with one of those “Wall Street insiders” that’s the head of something at one of the big investment banks, and I heard him say “The reason why the market is up is because it appears more like a V shaped recovery than something else.”
OK, fine. But the employment report just came in saying we’re at 13% unemployment, and that’s if that figure is even accurate. How can we be near record highs with 13% unemployment? And, and, annnnnnnddddddd we’re still suppose to be under Covid lock-down restrictions?
Me: I’m sorry, I thought you told me I was the one not “getting it” the more the markets rose?
Them: Well yeah, but this is different!!
Me: All righty then. Can we change the subject?
Them: What do you mean? Isn’t this important too you? I thought this was one of the areas you specialized in?
Me: Yes, it was. But as I told you previously – there has not been a real market for quite sometime. You’re just realizing it today because now you can no longer believe your own eyes. Welcome to the reality of now seeing the crazy.
And there you have it. Now you know why I/we changed the format of the broadcast. There’s no more reasoning that can be made for trying to reason out the crazy. It is what it is – till it isn’t.
Simple as that.
On a side note, for those not getting the implied joke of the headline, you can read that (here.)
© 2020 Mark St.Cyr