KALTBAUM ON REAL NUMBERS

——Just a reminder that while the left and the right go at each other on the impeachment of President Trump:——
——-Today and every day going forward, $3 billion will be added to our debt with that number growing every day. Today and every day going forward, $1.5 billion of our tax dollars go towards the interest on that debt they have all created throughout the years with that number growing every day. Of course, no one gives a crap. Three card monte anyone? Of course, markets don’t give a crap because:——-
———-As we have told you, central banks are going all out with their easy money. Jay Powell is doing more NOT QE than Bernanke did when we were still worried about financial meltdowns and unemployment was in the high single digits. This had us telling you there was a distinct possibility of a “melt-up” in the markets. We are not sure what defines a “melt up” but for sure, markets are en fuego, not only here but around the globe as other important central banks not only have negative rates but are also printing trillions.——-
——-Could we be in a 1999 market? Anything is possible but so far, not even close. First off, 541 IPOs came out in 1999. Secondly, while we are seeing “Eiffel Tower” moves in a Tesla, not seeing in a bunch of other names. We also remember a lot of 5-fold moves in a matter of months back then. If only!!! Nevertheless, we are seeing some seriously good moves in TECHNOLOGY names. Let’s just say we are having a mini melt up.———
——-We are in hopes we WILL NOT get a climactic move because that would be the final move. We would rather start to see some pullbacks, some scare days, some moderation. But the market doesn’t care what we think. We will just continue to ride things up. If this continues, expect TECHNOLOGY of all stripes to continue to lead as it always does in bull moves.——-
——–It is earning’s season with lots more to come. So far, earnings are ok, nothing special but think we get some acceleration as we move forward. Remember, it’s not the news, it’s how things react to the news.——–