[tvbound]

Originally Posted by tvbound

The current stock markets have no correlation to the actual economy right now. While only a little over 1/2 of us own stocks, in any form, right now everyone is punch-drunk on greed and thinking they are smart enough that they will have a chair when reality hits and the music stops. Covid has crippled the actual economy and those who don't own stocks know it, but most of those who do own or trade stocks refuse to believe it. So many jobs have either been permanently eliminated, or it will take a long time for them to come back, that stocks make absolutely no sense right now. When the bloodbath starts - it will be really ugly.

Originally Posted by tvbound

Here's one person that thinks the way I do and his personal indicator has only went up since this article last week.

Warren Buffett's favorite market indicator soars to record high, signaling stocks are overvalued and a crash may be coming | Markets Insider

The ratio reached a historic 183% on Wednesday, reflecting the breathless stock rally in recent months and the plunge in second-quarter GDP. Buffett said it was a "strong warning signal" when the indicator peaked before the dot-com crash.

I'm going to stay with my opinions from about 2-1/2 months ago, as I think they are even more germane now. I have seen nothing, not even the great news of potentially two vaccines, that makes me change my mind on the underlying fundamentals of stocks, which I believe were significantly overheated even before the pandemic. Given that about 70% of our "economy" (not a stock price) is dependent on consumer spending, I find it hard to believe that we've even come close to finding out what the last horrible 6 months has done to the average American family's finances - re: ability to purchase future goods and services.