At what point does the punch run out?  The mantra of don’t fight the Fed is alive and well. The Fed said they would pump liquidity in the market and wallah, our V recovery here. I’m flabbergasted. Does the massive rebound make anyone else nervous? Perpetual increasing asset prices in a world where down the road Macy’s is covered in plywood and I can get a hotel room in Carmel, Monterey and Mammoth in prime time summer weekends for under $200 a night. That’s cool, but the last time such deals existed we were talking 2009 and 2010…not the greatest time.

I get that the market is forward looking.  Forward looking to what though? I’m assuming for the market the best case is COVID is cured in the fall and Trump is re-elected. What is the certainty of either one of those happening at this point? Both don’t look great, though I think Trump is being heavily discounted and Biden inflated in terms of possible victory at the moment.  

We were told that in the summer COVID would go down because people are outside.  Today on the radio I heard the explanation that cases will increase because people are indoors because it’s too hot outside.  We can’t win.

We’re living through some form of revolution that has been in progress for a long while. It has gotten hotter recently…not the weather, the revolution.  Who knows how hot it will get and, on the other hand, who knows how high the stock market will get.  I thought the Obama followers were high on rhetoric of hope and change.  The Fed’s flock is higher than a kite on hope and change.  We’ll see how long this lasts before the market winds change.