Loading ...Unfortunately, comparisons to 1987 are spurious. Unlike now, that event was not the end of the rally nor the end of the cycle. Which makes this event more akin to 1929…
1929:
Now
Even us “perma-bears” are right once in a when-it-matters-most. For exactly two years – this week – since the February 2016 low, perma-bulls have been “right” to buy the dip. Now they find themselves a tad over their skis but yet still recycling the same witless “wisdom”. The hairless monkey is inherently predisposed towards optimism – without it we could never face the future. Optimism predicated upon wise and thoughtful action is warranted. Whereas optimism predicated upon depleted personal savings, rising interest rates, a bubble in assets, Inter-generational plundering, and non-stop bullshit, is not warranted. Knowing the difference, is key.
Subsequent to last week’s “event”, we’ve been hearing a lot about the “late cycle”, as in pre-recession. Of course, Wall Street being what it is, can’t possibly conjure a reason to sell, therefore it must be a reason to buy. So it is with mild contrarian interest, I read why this dip must get bought.