That's It Then

I note Jim Cramer rang the bell to open the New York Stock Exchange today to mark 10 years of his Mad Money segment on CNBC. 

I strongly suspect he may be ringing the bell on the market top too. I would find some symmetry there.

After all, it was partly his teenage histrionics that added pressure on the "something must be done camp," that has driven the market to these absurd QE driven heights. "My people have played this game for 25 years...... they are losing their jobs" OK Jim...... your friends got bailed out. Where has that left the rest of the voters in your country and the lead that its given to other central banks intent on mortgaging future generations so your friends can upgrade their yachts? In fact Jim, real household income in the US remains 4% lower than it was pre crisis yet debt is higher, all $8tr of it in fact in the US, investment in infrastructure, R&D and business are lower yet a towering house of cards dependant on issuing cheap debt to buy back equity is alone sustaining US equity markets and we can trace its origins all the way back to those who were screaming like little girls with their fingers trapped in car doors who thought their toys were being taken away...