There is no nuance to what I’m going to say: interest rates are pushing higher, and this is going to be a millstone around the neck of the world economy.
Now, the permabulls have been conditioned over the past six phony years to refute any assertion that anything could be bad for the market. Yesterday, for instance, when I snarkily pointed out ETSY’s horrible performance (which, incidentally, is shadowed by today, which has brought the stock to a new lifetime low). one of the more perpetually bullish Slopers remarked that ETSY’s rotten performance was a sign of a healthy bull market.
