We don't think the one-year S&P 500 graph enclosed is the work of any carbon units (at least sane ones)---much less the "pricing-in" of a rosy future of pro-growth economic policies. Instead, it simply reflects the relentless bid of the algos, which are programmed to buy the most recent uptick and then the next and the next and the next.
The Madness of the Machines: Orange Is The New Black (Monday)
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.