History is valuable but we haven't seen a $28T deficit, a government that thinks we still need more juice, and close enough to zero interest rates. Not to mention a pandemic that we hope is over worldwide soon. It will be in textbooks how this plays out. It's just been a game of extremes with all that has transpired. I'm not suggesting any rash measures should take place. I'm not sure if "don't worry be happy" is a valid strategy either and that is pretty much what a lot of smart people are saying. FED won't do that forever of course and the market will get spooked at the first sign of any corrective measures at all. I'll get my choppy market sooner or later. If I don't, well I am already invested. This is the most interesting economy I have ever lived through.
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