Stocks managed to extend their rally again today. Unless something seriously dislocates we can expect the stock bubble to continue being inflated.
I don't think I have seen anything quite like this, even at the worst of the Wall Street financial scandals. The pretense of legitimate price discovery was always covered by at least a fig leaf of official imprimatur.
Gold and silver recovered a bit after a final, vicious smackdown for those brave souls still holding Comex claim checks on a shrinking store of precious metals.
VIX is now flashing a warning into the weekend.
The Dollar is chopping around.
Bitcoin has slipped off its recent breakout attempt, and has fallen back down to key support. A further decline below 70k would not be constructive to the crypto narrative.
The levels of risk in both financial and geopolitical terms is astonishing. The world is most likely heading right into a global recession with the kind of stagflation that bites particularly hard.
And the flashpoints in the Mideast and Eastern Europe are sparking ominously.
Now we know what those who have gone before us have felt in turning points of history as those who would defy their mortality raged at their passing into dust.
Where are the snows of yesteryear?
Have a pleasant evening.
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