The Phaserl


Where’d All the Fear Go?

by Dan Steinhart, Casey Research:

With the US stock market grinding to new nominal highs on what seems like a daily basis, you might be wondering: where’d all the fear go? Just a quarter or two ago, it was cool to be a bear. Analysts were citing a high unemployment rate, weak GDP growth, and swelling debt as just a few of several albatrosses that would prevent the economy from taking off anytime soon.

Fast forward to today, and the bears are in hibernation. The same economic drags persist, but for some reason, most analysts are no longer worried about them. Unless you actively seek out contrarian viewpoints, you’re likely to hear all good news all the time.

Maybe the best way to understand this abrupt about-face in sentiment is through the prism of a childhood game: Jenga.

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