02/08 Week, page-270

On the contrary, savings are still fizzing around at relatively high levels.

As the economy has started back up we've seen spending increase and inversely savings start to drop.

With lockdowns returning will most likely see savings increase once more.

Whether savings can offset huge asset inflation or do anything to help the economy when cash is locked up is another story.

Markets may be overpriced but QE to infinity keeps a close safety net on any pullbacks.

When the safety net goes then there will be some issues...

Until then seems to be Groundhog Day for the bulls;

Buy the dips and pocket the pips...