Josh Brown at The Reformed Broker has an interesting social commentary on where we are as a country and economy:Corporate profits are smashing records every quarter. And banks – the BIG banks – the “Systemic Six” just earned $76 billion in profits last year, just $6 billion shy of their credit bubble era peak. We’re their loyal subjects again, they won. There’s a biotech bubble. It’s breathtaking. 11 of this year’s 14 best performing Russell 2000 stocks are biotechs, 7 of the top 8. The biotech index is up 20% since New Year’s Eve and 70% over the last 12 months. I’m not complaining. I’d rather see a biotech bubble than a social media bubble – the former cures illness while the latter causes it. Speaking of social media – I told Mark Zuckerberg that my daughter’s lemonade stand was “the next Facebook” and he bought her out for $24 billion. So I’m basically retired now – again, no complaints, but how many “next Facebooks” can he afford to buy at these levels? Hackers everywhere are building stupid shit to sell to him as we speak. Good for them.
His whole point is that the behavior of investors and people alike seems to be overwhelmingly positive. The title of the post is “Everything Is Awesome” and it runs the gamut from Pharrell Williams to Tesla’s new battery factory. You don’t have to look far to find positive outlooks. So my question is, at what point is the recovery over?
What is the threshold by which we measure the recovery being over?
Read: Everything is Awesome! (The Reformed Broker)