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Buzz and Banter



As investors aniticipate the next leg up in the market and quiz their brokers for the next stock that will double, it is crucial to really understand what is going on here. Scott just did a tremendous job in summarizing the thoughtful case.

It is easy to get caught up in a liquidity market, and that is certainly what it is. What to do with all those dollars? They are slushing around in everyone's hands and are finding a home in all kinds of paper assets. But let's not forget how those dollars got there: debt creation. The Fed has somehow convinced bond holders that there is deflation and stockholders that there is high growth. They are aided in this story by other countries desperate to keep their currencies low.

The fuel tank that is driving this market may not be near empty, but Scott did a great job in pointing out the right gauge to watch, the level of the dollar.

No positions in stocks mentioned.

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