All the buzz today is about the bull markets birthday and a million reasons it will go higher from here. David Tepper yesterday said that while the market is not cheap, it is hard to sell in front of the economic optimism. He pointed to Central Banks accommodative stance as the biggest reason or stocks to go higher. He told CNBC that “"Listen, it's hard to go short when you still have the drugs being given. The punch bowl's still full." Tepper has been more right than just about anyone else in the past few years, so you have to give a certain amount of weight to his viewpoint. Other discussions are bout Trump Policies, and Fed moves and no one is paying much attention to what could be the biggest market mover of them all.
North Korea is saber rattling again and fired four missiles into the Sea of Japan this week. The US and South Korea are conducting military exercises in the region and have begun implanting the installation of the Terminal High Altitude Area Defense (THAAD) system. China opposes the system and calls it an attempt by the US to meddle in Asian affairs. They also asked the US to stop or at least modify their military exercises in exchange for North Korea halting the missile program, and the US has said no to the proposal. US Ambassador Niki Haley said in response to China proposal “We have to see some sort of positive action taken by North Korea before we can ever take them seriously.” She added that all options are on the table when it comes to dealing with North Korea.
We are playing chicken with a crazy man who thinks he is untouchable. He has gotten away with his insanity for so longer he ...
