"...the street is on dope :-)"
Pancho, - The aggregate sums now invested in 401-K retirement plans has exceeded one trillion dollars for the first time. Disposable income per family in the US has increased approx $100-200 per month over the recent past. Mutual funds holding cash slugs are under-performing their breathren as well as the general market averages.
Credit card debt extremely easy to come by for those inclined to mis-use or abuse it. TV brokerage ads proclaim, "the train is leaving the station...", luring the naive into the "party". Boomers are in their peak earning years, and the 2-income family has become the norm.
Boomer's inheritances from dying parents, sadly to say, are occurring on a daily basis, in effect consolidating the investment decision-making process. Some, if not quite a few, of these legacies will be pilfered away on unwise speculative investments, adding additional fuel to the mixture.
The "dope" of the wealth effect is now cooking along in high gear.
It was encouraging to see the new set of circuit-breakers that went into effect today, mandate *ANYTIME* during the trading day that the DJIA falls by 30%, - trading will cease for the day. :>)
MT |
