Bearly Here

The NASDAQ and S&P are in Bear territory, and the Dow is very close. Trump is furious with the Fed, but he would do better to look in the mirror. His reckless incompetence is almost surely a major factor in the decline, but diagnosing stock futures is an art I had best leave to its own witch doctors.

If I believed the Fed, I would probably be buying right now, but while I somewhat trust the Fed, my faith in Trump's demonstrated reckless stupidity and likely treason is unbounded from above. I'm also profoundly suspicious of a boom founded on massive government borrowing.

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