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Here's The Number the Market Loves 8/27/21

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3 hours ago, Jimi said:

Maybe I'm older & wiser.

Or, maybe I'm just sour & angrier.

But today feels even more insane than March 2000.

I mean, back then, at least you could participate in "The Internet changes everything!" thesis. 

Sure, "Bitcoin fixes that!" seems this cycle's specific "Internet changes everything!" received wisdom analogy.

But there remained pockets of sanity back in March 2000: for example, you could still earn 6.39% in 10-year Treasuries the date the NASDAQ peaked.

I ask: what is the comparable security today that offers any sensible return prospect at these prices?

Are you asking about a return "on" your money or a return "of" your money.......I think the latter is more important concept at this point in the bubble.

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I just love the FED's fake taper narrative.

Somehow the deadline keeps being extended out into the wild blue yonder.

Its called synthetic tapering.

The FED wont bother with the real stuff while the synthetic stuff still works.

And it is still working very nicely.

Yes Jay is in line for two false narrative awards.

I have dubbed the awards  "JAYS".

One for Inflation is transitory

The other for we will taper shortly.

He is really on a roll.

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