Irving Fisher, Ph.D. Economics, Yale University, Oct. 17, 1929
"The Federal Reserve system should be reviewed for potentially holding back the US economy. The economy is on the cusp of growth that could equal the dot-com boom seen in the 1990s, driven by the AI revolution."
Scott Bessent, US Treasury Secretary, CNBC Squawk Box, July 21, 2025
"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years."
R. W. McNeal, NY Herald Tribune, October 30, 1929
“I know better than anybody what’s good for the Market, and what’s good for the U.S.A. If it weren’t for me, the Market wouldn’t be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don’t explain to me, I explain to them!”
Donald J. Trump, Truth Social, July 20, 2025
"Trump is our most economically sophisticated president, certainly in 100 years, perhaps in history."
Scott Bessent, US Treasury Secretary, CNBC, July 5, 2025
Stocks pulled themselves together and managed to extend their rally, going out at the highs.
Gold and silver were under some pressure, despite a failed rally in the Dollar.
VIX is settling down to the bottom of the risk radar.
Smells like teen spirit.
Have no fear.
If there is something you don't understand about this, just trust Trump.
That's what Baghdad Bessent advises to his fellow economic sophisticates.
"The economy is on the cusp of growth that could equal the dot-com boom seen in the 1990s, driven by the AI revolution."
Should someone remind Mr. Bessent that the late 1990's tech boom was a notorious bubble that crashed?
Cue the gerbils.
And the band played on.
Have a pleasant evening.
