The Stock Market Is on a Tear

Thermometer Test

Right now is no time to come up short.

It's time to fight like hell for a democracy where minority rule cannot impose an extreme and cruel agenda, where the Big Lie is called a Big Lie, where facts matter, and where accountability at the polls and in the press has a fighting chance. We have our work cut out for us, and we urgently need to raise about 400,000 by Thursday, June 30, to finish our fiscal year on track and give it everything we possibly can. Please help us get there with a donation if you can right now.

$1,150,000

$1,350,000

Right now is no time to come up short. It's time to fight like hell for a democracy where minority rule cannot impose an extreme and cruel agenda, where facts matter, and where accountability at the polls and in the press has a fighting chance. We have our work cut out for us, and we still need to raise upwards of 400,000 by June 30 to give it everything we can. Please help:

Let’s just finish up with all the charts I have today, OK? Then I’ll go to lunch, and maybe I’ll come back with some ideas for less analytical posts.

The stock market has gone crackers this month. Here’s the growth rate of the S&P 500 for the past year, with the first two weeks of January extrapolated to a monthly rate:

Hmmm. And here’s the Shiller PE ratio, which uses 10-year inflation-adjusted earnings:

It’s currently at about 34, which is lower than it was at the height of the dotcom bubble, but higher than Black Tuesday of 1929, the height of the 1960s bull market, Black Monday of 1989, and the height of the housing bubble. Is it too high? I guess that’s for each one of us to decide.