I was just about to post the same chart :-)I'd say, there's a...

I was just about to post the same chart


I'd say, there's a good chance this current little hopium rally, built on nothing, will start to run out of steam about now..

Here's the reality..

The most likely outcome in the US is Joe win's the election, but the Republicans retain control of the upper house.


This is disastrous if you think about it really: the worst case scenario for the US

Means less stimulus, and less grand leadership and investment.(ie the new green deal would be dead for the next 2 years at least)

So we would have a deeply divided and conflicted country and government.

A collectively leadership hamstrung, and mired in squabbling and point scoring.

Overlay that with a virus that is just getting stronger everyday.


Sorry, but I just can't see any rational reason for PE ratio's to go from 100, to 120....

The risk is just about all to the downside at this point, in my humble opinion.

What the US really needed now was a decisive victory one way or the other, with the resultant leader with a clear mandate to tackle these challenging times head on, one way or another.

This is not really whats happened...


So good luck if you think markets can go from really really expensive (current state) to mega stupid expensive moving forward, under the above backdrop.