In this week's Off the Cuff podcast, Chris and Mish discuss:
- Partying Like It's 1987/2001/2008
- Markets are at record highs – for no compelling reason
- Too Big to Jail
- Have the banks won?
- Political Football
- How the sequester is being spun
This week's Off the Cuff frankly sees a lot of head-scratching between Chris and Mish. The Dow and S&P are at all-time highs – indeed, the markets have had few down days in 2013 so far. Bad news seems to drive stock prices higher as much as good news does.
In a QE-to-eternity world, is it indeed best not to fight the Fed and go along with the ride?
At some point, fundamentals will matter. Japan's horrible situation will matter. Currency debasement will matter. An unemployed "lost generation" around the globe will matter. Europe re-entering recession will matter.
When it will matter is the key question. It's anyone's guess, though Chris is on record that a large market correction could arrive by September.
In the meantime, we watch as our system is increasingly controlled by the power elite. Our Attorney General admits that he considers the major banks too big to prosecute for their transgressions. Our new Treasury Secretary is rewarded for being on Citibank's dole. The recent stock market gains over the past two years? 80% of that new wealth has gone to the top 10% (35% to the top 1%).
But instead of expecting corrective action from our leaders, expect them to maximize the pain of the
by jim-h-2 
