The Lost Decades, 2000-2020, Part 2

Talk about whistling loudly past the very gates of the financial graveyard!

Alas, what we have here is a Wall Street which refuses to get its head right. That’s because after two decades of monetary, fiscal and financial folly honest price discovery is dead as a doornail and collective reasoning about anything except the next dose of monetary heroin from the central banks has disappeared entirely.

So it’s perhaps a fitting last hurrah that the S&P 500 was up 30% and the NASDAQ 100 up 40% during the final year of a two decade-stretch which will go down as the birthing time of the greatest calamity in economic history.