The stock market is incredibly prescient, as proven in the great book, Wealth, War, and Wisdom by Barton Biggs. I must say I am fascinated by the stock market's bullish action in the face of America's build-up of its fantastic debt. Within three months, according to the Fed's schedule, the Fed will end its QE. What happens then? That's the great unanswered question. Who or what will buy our debt? Or will we do the unthinkable: simply default on trillions of dollars of debt? Some advisors are talking about the end of America, others say we will try to inflate ourselves out of our debts. Honestly, I don't know the answer, but the market in its incredible, uncanny wisdom obviously has something up its sleeve.
In the 56 years I've been writing Dow Theory Letters, I can't remember a more difficult or puzzling situation than the one we now face. Yet, ... Log in or subscribe to continue reading.
Premium Content Notification
A subscription is necessary to access premium content.
Please use the button below to subscribe in order to access all premium articles