188: Smart Wall Street hates the rising market. @LizPeek, @TheHill @FoxNews
mage: The Procession of the Bull Apis, by Frederick Arthur Bridgman; New York Public Library collection, public domain. Elizabeth Peek @LizPeek, TheHill and Fox News; in re: Is this a “crazy rally,” in lieu of a wall of worry? Yes; and massive cash on he sidelines. Fear of losing out as the market goes up; confusing to [neophytes]. Treasury and Fed stoking the market; powerful. “Don't fight the Fed.” Many are surviving on the extra $600 per week over unemployment insurance. States that are rolling back opening. Increase in cases but no real increase in fatalities; most new cases are young people. Problem: Fear, probably misguided. Q2 earnings are dismal. Fatalities are ’way down, almost all of people over age 75. Media simply push fear.