what the market is demonstrating is that it doesn't exist in any sort of connection to any kind of economic reality. that's not news to anybody, despite the extended length of this continuing period of absolute delusion.

i am not changing my analysis of the situation: the bubble is simply getting more exaggerated, and it is still due to crash by over 10,000 points at any moment.

the cause of this imminent crash will be the monetary policies put in place by the republicans, specifically a contraction of the balance sheet. and, the only way to reverse it will be to print more money.

you simply can't destroy money and expand the economy at the same time. the longer that investors delude themselves to this fact by playing with these make believe numbers, the harder the crash ends up in the end.