Wall Street Shrugs Off a Hint of Armageddon

Turkey’s dangerous provocation of Russia has brought the Middle East one step closer to all-out war.  One might have expected U.S. stocks to fall hard under the circumstances; instead, after a modest struggle at the opening, the Dow rallied to finish up 19 points. Clearly, nothing short of mushroom clouds billowing over the region will slow Wall Street down. Seasonality, Christmas bonuses and end-of-year window-dressing have evidently taken precedence over nearly any geopolitical crisis we could imagine. It doesn’t help that America will continue to drift, in every conceivable way, under the breathtaking ineptitude of Barack Obama. In saner times, the soaring healthcare premiums alone that will hit most Americans in 2016 would be enough to derail the bull market. Not this one, though. It has decoupled completely from the real world, responding only to the flood of digital credit unleashed by the world’s central banks since 2008. How long can the insanity continue?  My guess, at the outside, is until December 31.

  • John Wintels November 24, 2015, 8:49 pm

    “The insanity continues until December 31st” . . . of what, 2015? Then what? Are you thinking a major crash is coming in January 2016 while Obama is still in office? Wouldn’t the government class protect their boy until Nov 2016 so Hillary can continue with Obama’s third term?

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    Prop up the market for another 14 months? No way. It is starting to unravel now. RA