“You can’t print your way to prosperity.†I used to believe that, but……….meh………here’s what yet ANOTHER “stimulus†package from Congress did for stocks today:
A new lifetime high in the Nasdaq as well as the S&P. That’s what a trillion (with a “Tâ€) dollar infrastructure proposal from Congress did. And, after all, it’s easy to conjure up the money; since we’re already $20 trillion in debt, why not pile on another trillion? Hell, that’s only 5% more debt!
(As a side note, I can assure you that throwing a trillion dollars at “infrastructure†for make-work projects and bridges to nowhere is going to be every bit a ringing success as the High Speed Rail here in California, which will never get finished, but only after costing billions more than pledged).
So anyway, I don’t like doing this, but I’d feel awkward otherwise……….so here are some interesting long-term bullish patterns amongst equities:
I only hope that when a real bear market returns in the year 2930, they revive me to witness it.
