It's just one day Greg. No need to cause panic. I agree fair value for this market is way lower, but powerful players like PPT and ESF will keep everything propped up. Just like they have since 2009 as a matter of "national security"..
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You do raise a good point. I don't think any major repricing is going to happen overnight, but the cracks are certainly growing in number.
All of our markets have basically been nationalized. The actual economy can be in a depression yet market will stay propped up above fair value. It's wacky.
Works on the small minds for sure. But the numbers are not about who's in office. It's a house of cards built high. Read some of the headlines from 1929 and 1930-1940....it went from everything is great and the sky's the limit to everything will be fine tomorrow or the next day. No worries. Lies, Lies and damned lies. Each day shakier than the last. War is the answer and Clinton and the Dems knew it. Sigh. "Tree of Liberty ...Blood of Patriots and all that jazz..."
War is not the answer. It has been the problem here in the U.S. for decades. Money spent on war is a total waste ....what do we have to show for it... a bridge, an airport, improved roads, etc. We have nothing to show for it. War will only make our financial problems worse. It will only enrich the warmongers and the elite and will impoverish main-street.