The Band Plays On

But how was the music Mr. Bride? Many say that the hulking vessel that is the U.S. stock market simply cannot be sunk. And the strong showing by stocks in surging to new highs in the wake of the “Brexit” uncertainty is evidence of this supposed fact. And looking forward, either the global economy will finally accelerate to support its currently lofty valuations or central banks will run to the rescue if the seas start to become choppy. But just as we saw with the tech bubble and the housing bubble, the U.S. stock market is indeed sinkable no matter how well the global economy might be holding up or how much policy makers keep it afloat. So while the stars may be sparkling in the sky as lovely music plays from the decks of the S&P 500 Index, this does not mean that the supposedly unsinkable vessel isn’t already taking on water.

Please click on the link to read more of my article on Seeking Alpha.

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