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Dow Jones speeding on Fed steroids, CRAMER: 'We all know it's going to end badly

Four years after the stock market hit bottom, it is flirting with an all-time high. On Monday, the Dow Jones industrial average enjoyed its second highest close ever and was just 37 points away from a new record — more than double its level during the dark days of March 2009.

The turnabout is testament to healthy corporate profits and the resilience of America's free enterprise system. And it's a huge relief to workers whose 401(k) plans are tied to equities. But the risky little secret of the rebound is that it is powered in significant part by the easy-money policies of the Federal Reserve, which must one day end.

"Mission Accomplished" - With CNBC now lost for countdown-able targets (though 20,000 is so close), we leave it to none other than Jim Cramer, quoting Stanley Druckenmiller, to sum up where we stand (oh and the following list of remarkable then-and-now macro, micro, and market variables), namely that "we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else."
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
I don't think you are allowed to quote CNBC, please try to pay better attention Big Grin

Given how many times Mr. Cramer & Co. has been dead wrong I normally dismiss anything yelled out of his pie hole but here I think he has a point. But then the other side of the coin is inflation so pick your poison wisely.
Dave, proudly annoying members of since Sep 2012.

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