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Rainbows and Lollipops
Stocks have climbed the wall of worry as tariffs and the war against Iran are both out of mind and the market is excited about the debasement effect of deficits to infinity and is thus stretching all the green candlesticks on the screen up and to the right. As Lyn Alden has been saying: Nothing stops this train. It’s fun to worry about deficits, but it’s impossible to know when they might matter. Here’s some typical hand-wringing from 2008: I have been scanning the horizon for danger signals even as we continue working to recover from the recent turmoil. In the distance, I see a frightful storm brewing in the ... (full story)