Staying awake at night..........................

 

............................with Jared Dillion:

There is a chart that gets passed around from time to time which is a chart of the S&P 500 going up annotated with all the reasons why it might go down over the last 40 years or whatever, the most recent example being the Iran War. The price of oil goes up 50%? Fuck you, stocks are going up anyway. That has been our experience, pretty much, for most of the last 20 years. Every worry, every pullback has been a buying opportunity.

Now, it doesn’t take a galaxy brain to figure out that this dynamic might not continue indefinitely. 

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We just elected large-C Communist mayors in Seattle and New York. The Democrats are moving to the far left faster than you can say Hegelian dialectic. It seems as though the stakes are higher for each successive election, and it says something when Gavin Newsom is probably your most centrist candidate. Newsom would have been far to the left of Carter in the 1970s. But here we are, and the polarization is a freight train coming through your living room.