Absolutely! The notion that any "new high" will mark the end of the long term secular bear market is just wishful thinking...
The dollar has plunged since the crash of 2000...the Euro has soared, and gold and oil... The real question is why did it take so long for the nominal value of the Dow to "catch up" with so many things going right/wrong with the US macroeconomic environment...
The Deficits are huge, the wars and the incompetence in Washington...the looting by CEOs continues... The deindustrialization is near fatal...
This so called "new high" is really a macroeconomic new low for the US economy...and if it lulls the FED and others into a false sense of complacency the results will be predictable and Bad!
THE LONG TERM MACROECONOMIC BEAR MARKET FOR THE US ECONOMY IS STILL IN PLACE...YOU SIMPLY CAN NOT INFLATE YOUR WAY INTO PROSPERITY...
YOU CAN NOT DEVALUE YOURSELF OUT OF MACROECONOMIC MISTAKES.
The real anomaly is in the bond market...but that little conundrum is really caused by global central banks not quite being ready for the post-dollar world that must surely come...
Interestingly the depression of the 1930's was really all about the decline of the UK Pound as the "coin of the realm" in world commerce...and the asendency of the dollar...
MAKE NO MISTAKE THIS IS 1932 ALL OVER AGAIN...THE NAMES ARE DIFFERENT BUT WE'VE SEEN THIS MOVIE BEFORE...!
