by Charles Hugh Smith
Of Two Minds
It’s nice to anticipate sunny weather, but it’s a good idea to carry an umbrella just in case the forecasts prove overly optimistic.
Yes, the market will rally if World War III didn’t start last night. The market will also rally if World War III does start, because the Federal Reserve will surely lower interest rates.
We chuckle uneasily at gallows humor here on Uneasy Street because we’re still required to maintain an upbeat veneer of endlessly cheerful optimism even as we sense that the forces currently in play are beyond the control of individuals or groups, no matter how powerful they may be, and that these forces will follow a course to an end no one can predict with any degree of upbeat confidence.
Back when we lived on Easy Street, things were getting better for everyone in varying degrees and the ladder of social mobility was available to all: anyone could improve their prospects by putting in the effort.