Author: UPFINA

The is a SPAC market not a stock market. U.S. retail investors’ favorite stocks are up 85.9% year to date, above the S&P 500 14.2%.

The high frequency data points are in freefall as some measurements of the economy showed a contraction in December, first time since April.

This non-stop rally has only been matched by the rally in the 2nd half of 1999. That was a few months before the peak in March 2000.

The November retail sales report wasn’t good while December will probably be worse as the semiconductor index resembles the late 1990s.

Firms with high flying stocks are paying workers so little they need help from the government to afford food.