By Eric Peters, CIO of One River Asset Management
"He tried to cut spending through peace," barked Biggie Too. “But the war in Ukraine is raging on. And now he got this new taste for B2s and bunker busters,” bellowed Biggie, Chief Global Strategist for one of Wall Street’s too-big-to-fail affairs.
“And he tried to DOGE discretionary spending, but that was a bust too.” Indeed. “So, looks like he’s going to go for broke and pump this economy into a boom to grow our way out of debt,” he said. “He’s saying, ‘gimme everything now,’ and if there’s inflation next year, the Fed can always hike.” And Biggie broke into one of his devious little smiles, a lover of booms, bubbles, busts. “If we couldn’t get the 30yr yield to hold above 5% with all this crap going on, then why can’t the stock market trade at 30x earnings?”
