The Birth of Jesus? Good times.
The Fall of Rome? Who cares.
The end of World War II and the dropping of atomic bombs? Nothingburgers.
Today in a monumental event according to the Bubblevisions, civilization has achieved new all time greatness as the S&P 500 broke through the 5,000 level for a little while but could not hold it, closing just below that societal changing level.
According to the logic of these clowns the risk of bubbles is over, artificial intelligence will make investing as easy as going to the bathroom, and a new world economic order is on the horizon.
I simply warn everyone of this one undeniable fact:
We have heard all of this before.
I took the liberty of underlining the key sentence in the story to remind my readers that no matter how many “new, new” record highs we might see in the indices, there is a price to pay at some point for the arrogance of thinking equities with 30, 40, 50, or even 70+ times earnings is a sustainable economic model.
Prepare for impact on the other side when the inevitable correction or crash occurs.