Good morning.
Zoom faceThere are so many reasons to want to throw shade on the rally in the market.  Economic data, a pandemic, riots and looting, companies selling significant shares of their own stock and on down the line.  If you add all of them up, do you come up with $3 trillion.  That’s the amount the Fed’s balance sheet has expanded since last September.

Now here’s the rest of the news:

It’s The End of the World (and Investors Feel Fine)
The news headlines are horrific but investors seem unflappable.  It brings to my mind the title of this classic R.E.M. song: It’s The End Of The World As We Know It (And I Feel Fine).
American cities are ablaze with violent protests, a deadly pandemic bedevils the world and the Presi-dent ot the United States was sequestered yesterday in an underground White House bunker to pro-tect him from rioters.
Wall Street’s response to this dystopian tableau?  A collective shrug.
The three main U.S. stock market indices all closed in the green yesterday, with the Dow Jones Indus-trial Average up by almost 100 points.  As of this writing Tuesday morning, the three indices are poised to open higher.
The disconnect between stocks and political-economic realities is striking.  Let’s look at the latest data for clues.  Perhaps a day of reckoning awaits, or maybe the optimism is justified…

June 02, 2019

Thought I would share my ride across town this morning when I woke to a flat tire on my “Caddy”.

All is well, AMA were called to change the tire on the Caddy… 🙂

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