Real Vision senior editor, Ash Bennington, and managing editor, Ed Harrison, react to the new U.S. consumer spending report out today from the Commerce…
How do you destroy $30 billion in value in just five years? If you are AT&T, you buy DirecTV in 2015 for $50 billion and five years later you try to sell it for less than $20 billion, a loss of 60% on the deal.
It would only take another 130 points in the S&P, pushing it less than 4% higher to 3,630 by Election Day, to make this rally Greatest Of All Time in both speed & magnitude, surpassing the rally off the 1938 lows.
It’s a tale of two bull markets. One part of the market is trading as you would expect with near depressionary economic numbers. The only description for the other part is 'insane'...