It's official: as of today the bull market that has been mocked as fake, doomed and history’s most-hated just earned a new title: the second-longest ever. And it only took $14 trillion in central bank liquidity, a global, coordinated central bank "put", central banks purchases of Treasuries, MBS, ETFs and corporate bonds, and nearly 700 rate cuts in the past 7 years to achieve it.
Some of you have been sending me evidence for the Democrats: The Party Of The Rich file. Check this out:
1. Phillips Andover Academy, the posh New England prep school that once educated the children of the Republican elites, has now flipped:
Andover Academy has changed, reflecting national political trends. Instead of the children of the nation’s GOP corporate leaders, the school now educates the children of a professional, and largely Democratic, elite.
Today I received in the mail the State of California Primary Voter's Guide, which the Secretary of State prints up by the millions and sends to every blessed citizen. I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
A few paces west of the public beach in Yorktown, Virginia, is a little cave looking out toward the water. We all know Yorktown from history class. This is where, in October 1781, the British army commanded by Lord Cornwallis surrendered to the Americans under General George Washington and the French under the Comte de Rochambeau.