Something that I learned during the Obama years is that fighting the FED is a sucker's bet. The Obama economy was crappy. They called it a jobless recovery. It wasn't a great recession but a depression. All logic told a person that the market should have at least retested

...the 2009 lows. Instead the market powered higher. It did that because the FED stayed at zero interest and used QE. In other words, it wasn't the Obama bull market but the FED's but the FED in all it's power could only do so much. It could keep the economy afloat but it

..... couldn't make people go out and engage in economic activity. So we had a jobless "recovery". We had low capital investment. We had a shitty economy that only saw one or two sectors and only certain areas really do well. Still the power of the FED to keep the economy

.... functional gave certain people a hubris. When Trump came along the FED and elites tried to crush the economy by raising rates and changing QE to QT. The FED politically couldn't be seen as acting to crush the economy so it couldn't use it's power fully.

So that limited it's power, somewhat. Still they did manage to drag down Trump's economy by a point or two of GDP each year but they couldn't stop it. In other words, if the FED could have politically got away with going full bore the economy would have tanked.

I know this won't surprise anyone except some of the Dems that thought it was Obama's policies that "saved" the economy but the FED really showed it's power during the Obama years. Now those people that didn't learn that during Obama are finding out today during the pandemic.

They can't understand why the market isn't retesting it's March lows, they are shocked that the market is rallying when all the "numbers" say it should be falling. This isn't the 1930's nor the 1970's. In those periods you didn't have a fully functioning FED.

The Obama years and the "great recession" unleashed the full powers of the FED. If you want to look at how the market will react to the current economic conditions you can't look back to the 1930's or the 1970's. That was a totally different time when the FED wasn't what it is

.....now. No, what you have to look at is Obama's crappy economy and how the market reacted to that. Now, factor in that Trump is President and you have Trump and the FED both working together to boost the economy instead of against each other like we had for the last three years

That should send shivers of fear down the backs of the bears. Fighting the FED is a sucker's bet but fighting the FED and Trump is like betting that Iceland will take over the world.