agreed in full, with the key question being: what percentage of voters will realize they are getting milked by the elite before 2018 midterm elections? before 2020 full elections?
my guess is not enough to effect change... tho, losing their healthcare might wake them up a bit...
Good post on what the common folks will eventually find out......
tax reform; the proposal for budget was merely a blue print to show how they intend to free up $ for tax cuts
My point is that this "blue print" is now strongly indicating that the market has gotten fully swollen from anticipation of future tax reform/cut and also the infrastructure package (small-mid caps are up 6.1% the past 6 weeks!).
That is why I am starting to taper out of equities this fall after rich gains by these indexes since Dec 2016. Much of the Santa Clause Rally may have already happened in Sept-Oct my opinion! Risk reward is feeling asymmetrical right now: maybe another 2-3% left to SPY this year versus 5-10% correction by New Year (or soon thereafter). I screwed up in getting back in during early Jan 2016 as SPY dropped down 3% to 200 range in 2 days before the Jan-Mar correction. We may see something like that happen again.....
Of course this melt up could go further than I and many others believe.... but I know we are more than fully valued by 5% or more.
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