N.B.: This report was published on steemit.com earlier as D.Tube was inaccessible.
In this report, I cover the early market action in London on Friday, September 21st, 2018. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the oil price.
My focus today is on the stock market and how the Dow made an all-time high yesterday by breaking the February 2018 high. I point out that when President Trump was campaigning he called the stock market a "Big Fat Ugly Bubble" and that was when the Dow was around 17'000. Now with the Dow approaching 27'000 Mr. Trump has forgotten about the bubble and says the stock market is a reflection of the strength of the economy.
My conclusion is that the stock market could now continue to go even higher but it's not because of the health of the economy but more because of the greed that usually creates financial or stock market bubbles. As for the economy, I note that the only reason the economy is looking healthier is due to the record amount of government deficit spending taking place.
