The last time the markets did this well: 1998. Twenty-one years ago. For many years, a consistent them on this blog was the loss of two decades. See tag: lost decade. I haven't mentioned a "lost decade" since Donald J. Trump was elected president.
Today: NASDAQ hits an all-time high. S&P 500 down 0.02%; Dow down 0.13%.
What's next?
USMCA passed.
China - US trade tariffs relaxed.
No more Fed rate increases for at least a year.
Biggest retail day in US history over the weekend/
US consumers account for two-thirds of the GDP.
No wage inflation.
No inflation at all, for that matter.
Unemployment at record low levels.
Work force participation at record high levels. Particularly noteworthy for minorities.
Politics: with US House considering additional articles of impeachment, and Nancy Pelosi not sending current articles of impeachment to the US Senate until her demands are met, It appears that Mitch is no longer in control of his own calendar ... unless he gets his act together. Most recent controversy: federal appeals court may rule on case; the losing side will appeal to the US Supreme Court. McConnell needs to make it clear that he will table the "impeachment trial" if more important business requires US Senate action.
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