John Burns - 1/12/2026 05:56

I agree with all of that with one possible exception.

But the market is not always logical and often fickle. So long term I think you are spot on. Nearby???? I have no clue.

Now the exception. The Fed will do everything in its power to try and control interest rates. But the FED only has power at the short term edge. They can bloviate all they want, but the market will eventually determine interest rates, especially longer term. The FED it is purported to follow the market, not lead it. They see the direction then get out in front to pretend to lead it. What they CAN do is buy the junk when no one else wats it. Just create the currency out of nothing and buy whatever debt they want. But then the game is really up when they are continually monetizing the debt. We are the cleanest shirt in the dirty laundry so I would expect this to be able to go on a long time because of limited options. But the dollar is already on a down hill slide. The YEN has held on a WAY lot longer than I ever imagined. Probably the dollar will be able to do the same long slow painful death. I sure hope so. If it lasts as long as the YEN I will be long gone and not a concern of mine any more.