Mrs. Ure and I were just sitting here [in the pouring down rain in East Texas], wondering if we were the last “sane” people on Earth:
We have been watching:
- Demonstrators driving a sitting Senate out of their digs.
- Warnings have begun in commodity world that the world is now on the verge of famine and soybeans may be rationed due to crop conditions in Argentina…
- And people are selling off gold when in reality the future of the US Dollar as a reserve currency is in serious jeopardy.
And while this was going on?
Well, the Dow hit all-time record highs.
So, while we are vastly entertained, earlier today we were looking at how close this train wreck of a market is to a Perfect Replay of 1929:
About the only major differences?
We may not make it all the way up to the 1929 peak. a) Because soc ial media giants may be brought to heel by the time the dust (er…mud) settleds. And b) because Bitcoin and other digital absurdities are still rising offering an even stronger brand of financial cracxk to the greed-cursed hearts.
Other than that?
Damned if we could find a rational reason for stocks to rally.
If there’s a shred of reality left, maybe they will tank into the close.
But the case is being traded right now that all institutions in America have been violated in some very coarse and demeaning ways.
More in the morning. Agave calls at the bell… Oh, and yeah, we’re among the few sane peeps left!
As the line when in Airport: “Surely you jest?” “Don’t call me Shirley…”
Write when you (yada, yada…)