We had a banking crisis that never materialized into panic, aside from the afflicted banks. We have been on the verge of WW3 for over a year. We have jacked up rates so high, the poors cannot afford to buy homes or cars anymore.
And yet, here we are styling higher again without a care in the world.
The news is one thing, but the price action is another. We have collapsing natural gas prices, moderate WTI, and a strong consumer base — seemingly foaming at the mouth to buy a new $115k Tesla.
The price action is bullish, but I remain highly skeptical and look at the price action with furrowed brows.
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I was at a mall for the first time in years this weekend. It was packed. There’s no way we’re in a consumer led recession yet. Whatever their debt levels are, these fuckers are spending away.
Markets are reaping the peace dividend. We have mended formerly contentious relationships all over the world. Russia and China ..Iran and Sunni Arabs …and increasingly throughout the global south. Like Hilter’s Germany, we’re bringing peoples together.