From Bill Bonner, Chairman, Bonner & Partners:
BALTIMORE – Let’s see… U.S. corporate earnings have been going down for three quarters in a row.
The median household income is lower than it was 10 years ago.
And now JPMorgan Chase has increased its estimated risk of a recession to about one in three.
These things might make sober investors wonder: Is this a good time to pay some of the highest prices in history for U.S. stocks?
Apparently, they don’t think about it…
U.S. stocks have been on the rise again, after the Fed announced that it would go easy on “normalizing” interest rates.
The Dow is now in positive territory for 2016.
Hooray! Investors – at least those who passively track the index – are even for the year. And with more central bank fixes, maybe they’ll be able to keep their heads above water for the…