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Well, the constant drift upwards is relentless. I thought September would bring some more decisive direction, but it took almost two weeks of chop to get anywhere. But now the direction seems to be up.
SPX Daily
(more…)Well, it’s Thursday, and since I have nothing new to say about the markets in particular, let’s just look at the latest liquidity information from the politburo of the federal government.
First off, Powell is still burning off assets held by his politburo, selling off his rapidly-diminishing value comprised of government “securities”. Stay the course, JP!
When the US Government showered trillions of dollars onto the public, in light of the not-quite-bubonic-plague that swept the globe, the poor were not-so-poor. Indeed, about one-fifth of those trillions got siphoned off through fraud (zero surprise there). Now that the spigot has stopped, it’s back to normal again, except for the difference between the nation is saddled with $33 trillion of debt that’ll never, ever get repaid in any true sense.
I daresay that the subject of ChatGPT was responsible for at least half of the rally of 2023.
