https://www.marketwatch.com/story/why-the-stock-market-rally-is-smarter-than-the-experts-2018-08-31
Valuations are too high, charts augur poorly (whether technical analysis or horoscopes, which quants insist are not the same thing) or we might all be deprived of President Trump’s big, big brain through impeachment, a fate Trump assured us this week would leave us all in the poorhouse. And yet, here we are, having set record highs this week in the S&P 500 Index and if not hitting the record for the Dow Jones Industrial Average we’re now in the longest-running bull market ever, by most measures. Whatever is making it happen, it ain’t politics: Markets don’t actually work that way.
It occurred to me that not only the longest running bull market of all time, but the tech sector has led year after year the whole way, even as talking head pundits say one has to be in tech (usually a fade).
I can't help but think AI is behind this. (check out NVDA stock chart) A friend of mine in the business says AI is going to explode productivity going forward and that he can envision a guaranteed income of 20-30K per year within 20 years. He also anticipates deflation going forward. Not the bad kind like the 1930's but the good kind from more productivity.
Star Trek economy? Wake up and write poetry or go exploring the universe? Machines do everything else. Ray Bradbury was a visionary. He had Alexa on the Enterprise in the 1960s!