Irrational exuberance all over again.

And despite what the steady propaganda that is put out by the moneyed interests, who are the beneficiaries by far of these repeating asset bubbles, the corporate world has been not over taken by government. Rather, it is government that has been taken by the moneyed interests.

This is what the decade long, very well-funded campaign to overturn New Deal regulations, including Glass-Steagall, was all about.

But you cannot reason with those who have replaced thinking with listening to and repeating slogans and well-crafted propaganda.  

So why bother. Follow the money. And you may find the truth.

Stocks rallied again today, moving to new highs.

The VIX fell.

The Dollar rose.

Bitcoin fell in the usual wash and rinse. 

Gold and silver both rocketed higher.

On an 'ordinary' trading day I would say this looked like a flight to safety. 

However, this was a triple witch stock option expiration day, which we get four times per year.

So for now we'll just mark it up to the short term shenanigans that are so common in US markets today. 

The exogenous risks being ignored by the US markets make my skin crawl.

I just cannot ignore them and look the other way.

There is no doubt in my mind that we are in bubble number three for this time period.  

And there is no doubt that this bubble, like the previous two, is going to end, and badly.

Timing these things is rough, and most will get in too early, plunge in greed, and get skinned in despair.

Don't do that.

Donnie has a lot of executive weight to throw around, and he is clearly not shy about twisting the data and markets to suit his desires.

Are you not entertained? 

Prepare and pray, and keep our own backyards clean.

Have a pleasant weekend. 

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