It's amazing to see the disconnect in Wall Street as values moved higher on a speculated "stimulus" by the Feds due to the weakening economy. So, the Feds manipulate banking to try an stimulate spending, which will likely mean spending more money (printing money) that is currently not in the dollar inventory. How is that a stimulus for recovery? Short-term, short-sighted buyers might look to it as an opportunity to buy, but consider the longer term negative impact - significant is a mild word to describe the future negatives.
Out of Touch
When you're in a bubble, the surrounding world is disconnected and you become out of touch with reality. New York (Wall Street) and Washington (the ruling class) are in a bubble evidenced by the unmitigated buying and spending. Gluttony comes to mind when thinking of these too groups, pigs that care less about those outside of their community.
To be sure, how people spend their own money is their business. However, those in public positions or those as public figures should be cognizant about the hardships that face middle America and understand that excesses won't play well.
Come November, the expectation is for change in Congress. Let's hope that if change comes, it's change for the better, with those whom know how to create jobs, and willing to reduce regulatory burdens, and taxes on Main Street.
Disclosure: no positions