S&P 500 at 2012 highs - obligatory comment

VIX at 14. 5-year inflation swap rate at 2.12% (10-year at 2.5%). Everything is ok!!


Thank god everything is under control!

BTW Apple is the most valuable company ever.

We are living in the golden age/year.

The people who got squeezed out when they shorted apple when Jobbs died have much lighter wallets.

Bernanke will emerge from Jackson Hole with effective policies. The ECB will solve the Euro Area’s problems in their entirety in September. Everything will be perfect. Just wait.

it never pays off to be a permabear.

Things don’t have to be perfect for the markets to go up. 1982-2000 was the biggest bull run in history, but it was a bumpy road.