Not much in the way of news today. The capital markets are determined to pump certain issues as high as posssible into year end. There seems to be complete belief that nothing can derail the market into year end. I am skeptical of government intervention. My best guess is that nothing has derailed the markets in the way of geopolitical news so therefore it never will.
More importantly, I think a lot people in America are struggling. The market continues to paint a rosy picture most likely because of the 2/20 HF situation that is really driving everything. A lot of longer term issues seem to creeping up among the general population. Lack of income growth, too high student debt, and massive wealth disparity are the most important ones. I just think the capital markets are too short term driven to realize that these are the issues that are going to have profound effects on the country in the next 30 years. Sadly, I don't think my generation is going to enjoy the same things as my parents and I'm not the only one. Everyone my age is drowning in debt and finding wages completely eroding. Wall Street can keep dressing this crap up for a bonus, but its all bullshit. A consumer led recession is going to take place and with it the realization that the country is losing power and the wealthy are abandoning people. I hope Dr. Faber is wrong and we don't see a revolution, but it will grow more likely with time.
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