The Cult Of The Stock Market, Part 1

Insouciant is the only word for it. The madcap money-pumpers in the Eccles Building have self-evidently backed themselves to the very edge of a daunting inflationary cliff, yet the buy-the-dippers just keep on loading up the trucks.

That is to say, Wall Street speculators have become so intoxicated by the presumption that the Fed will never, ever stop flooding the markets with yield-crushing fiat credits that they have reverted to a juvenile, “look ma, no hands!”