Finally! A "Bubble 3.0" chapter mostly devoted to the stock market! Based on what a complex beast it is, the fact of the matter is there are myriad factors that come into play as to which direction it's heading. Further, because this is such a vital and controversial subject, we are doing a two-part edition with the second installment coming out a week from today so that we can properly evaluate the various forces impacting stock prices now and into 2020. The latter promises to be a pivotal year not only for stocks but the economy at large.
Certainly, it's been fashionable to stay bullish on US stocks no matter what level of craziness is afflicting the world these days. Yet, that style may be going out of fashion as the undeniable reality is that even the mighty S&P 500 has basically flat-lined since mid-J
In our June 14th, EVA, "A Blast From A Bubble Past", the similarities between market conditions in early 2000 and the recent behavior of the US stock market were detailed. For those readers that don't want to go back and read that chapter of our never-ending ongoing "Bubble 3.0" series, a book being published in real-time, suffice to say there is a long list of parallels.