Now this is what I call a correlation, the concomitant movement of S&P prices with margin debt, better known as buying stocks with borrowed money. The Fed prints it up, and the traders lap it up. As shown previously, real earnings are nonexistent to support such valuations. It isn’t irrational exuberance, but something more mundane. There’s nowhere to park your money without losing some of your money to either inflation or broker fees. And because that is the case the refuge of last resort will once again be precious metals. Everything is in motion but financially nothing ever changes. Debt was also the basis of Kublai Khan’s 13th century Yuan Dynasty that also could not bring itself to stop printing. Yeah, that’s right. The Chinese Dynasty failed, and so will the U.S. empire, that prints and prints to wage useless wars for Israel, Saudi Arabia, or whomever buys off our political system. The Trumper was America’s last chance. And instead he turns out to be just another neocon traitor.