Taps Coogan – January 26th, 2021
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Bubbles like this only come around once or twice in a century:
A defining quality of a mania is that is fundamentally irrational. Who knows how long this will go on for?
Nearly every bear market in US equities has been proceeded by monetary tightening by the Fed. The Fed is promising not to even ‘think about thinking about raising rates‘ for years.
If this goes on for another year it’s going to be, without a doubt, the biggest bubble in generations. Arguably, it already is.
This is the predictable and inevitable end game of a decade of monetary bailouts and ‘wealth effect’ nonsense.
Blame the Fed.
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