This is an interview I did with Jim Goddard of Howe Street. We talked about how the buying driving stocks higher is not rational or risk-minded, just a reflex response to the nearly limitless availability of cheap credit. Buying the dips has become entrenched, and it could go on for longer than many might imagine despite a darkening global economic picture. It has even kept Boeing aloft, notwithstanding the deepening scandal involving fatal crashes of two 737 Max jets. The families of the 362 who died will have their day in court, and the cost to Boeing is going to be huge.
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