ignore that like half of the DJIA's gains are driven by like 4 AI stocks whose valuations are completely untied to profit... that's not what they used to call a "bubble", is it?

also, we've not even begun to price the true impact of the strait of hormuz into the oil and gas market (we're currently subsidizing the futures market to keep it artificially depressed- and even if the strait opened today, we're not going to see relief for 6 months). and while we've spent 20 years doing our best to ween off middle eastern oil, the rest of the world doesn't have that luxury. europe, africa, asia, australia are all in for months of energy shortages (at best) and outages (at worst).

and we're really not baking in the increase in food costs because we can't get fertilizer through to the farms and now it's too late in the US- that will also have ripple effects for the next year.

who's ready for a global recession?