It’s eye-opening to see what does and doesn’t matter to equity markets these days.
- Hopeless war in Ukraine: doesn’t matter
- Another hopeless war in Gaza: doesn’t matter
- Over $33 trillion in debt: doesn’t matter
- A guaranteed disaster, politically, in 2024: doesn’t matter
- Grotesque maldistribution of wealth: doesn’t matter
- Slowing economic growth doesn’t matter
OK, so what DOES matter? That’s easy! Janet Yellen’s free-money-to-her-friends BTFP, which hit yet another record and is almost $130 billion now! Wheeeeeeeeeee!!!!!!
