As the Dow Jones passes 28,000 for the first time, are things really looking groovy for the US economy? Or is this time different? Max suggests the Dow can go to 70,000; there is nothing in the way of the Fed and higher stock market valuations. DOUBLE DOWN talks to Wolf Richter for his thoughts. When markets are this divorced from reality and it has already done the impossible, there is nothing stopping it from going even higher. They also discuss the absolute blowout in the subprime auto loans market where serious delinquencies on the loans are at near-record levels - despite the booming economy. Wolf suggests that this is due to the dealers and loan providers getting greedy; many of these loans default before the very first payment is ever made! Tune into Double Down to hear more on what Wolf has to say about this crazy market.
We'd love to get your feedback at firstname.lastname@example.org