Off The Net For Awhile -- Going Swimming -- July 8, 2021

FOMC minutes: from twitter --

The FOMC minutes suggest the Fed will  keep inflating the largest asset bubbles in modern human history with complete disregard for the record inequality it has created.

The Fed: favoring the investor. One can argue why it is happening, or who is responsible, but I think all agree, current events favor the investor. The gap between investors and savers will continue to widen, and those folks not working are not putting money into their retirement accounts nor building their social security history. I suppose one could argue that folks currently not working probably wouldn't have their own personal retirement accounts even if they were working, but that's not true for social security. 

Market: on a day like today, look for those equities that are actually in the green. Yes, there are some. Holy mackerel, I did not notice this. The Dow, which was off by more than 500 points pre-market has clawed its way back to being down only 215 points, down 0.62%. But the bigger story is this, and I almost missed it, even being down 215 points, the Dow is still above 34,460. 

Another guy who doesn't get it: