Even after yesterday’s 600-point plunge in the Dow, bargains are hard to find.
The air is just starting to be let out of the 10-year “everything bull market” caused by a decade of ultra-low interest rates and the Fed printing trillions of dollars.
I don’t know if the volatility we’re seeing today is just a blip or the start of a much larger correction. But I do know we’re closer to the end of this cycle than the beginning. And a correction is due.
While we’re waiting on the market to plunge, remember, the US has amassed a record $21 trillion in debt… and is running $1 trillion deficits. And this is during “boom” times. Normally deficits of that size occur when governments are funding giant wars or staving off a recession.