“If We See Hundreds of Thousands of Businesses Go Under, It’s a Horrible Bull Market. And for What? We Get the Same 6.5 Percent Real Return Regardless of Whether We Play These Games to Push Prices Up Temporarily or Whether We Permit Honest Posting and See Prices Remain at Reasonable Levels at All Times. I Don’t See the Fantasy Thrill Ride as Being Worth the Price Attached to It.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

It’s only a horrible bull market if you are over the age of 60 and you missed out on the bull run.  At that point, it is too late for you.

If we see millions of failed retirements, it’s a horrible bull market. If we see hundreds of thousands of businesses go under, it’s a horrible bull market. If we see millions of workers lose their jobs, it’s a horrible bull market. If we see increased political frictions, it’s a horrible bull market.

And for what? We get the same 6.5 percent real return regardless of whether we play these games to push prices up temporarily or whether we permit honest posting and see prices remain at reasonable levels at all times. I don’t see the fantasy thrill ride as being worth the price attached to it.

Rob