19702 seems to be coming up an awful lot these days.

Peter Bookvar wrote about 1972 how the Fed thought they had beaten inflation only to find

it come back in spades in 73.

But 1972 was also a year that the following song was released.

And this is rolling around in my head over the last couple days.

An artist named Johnny Nash.

By the way, you are listening to the On the Tape podcast. Guy Damme here, always joined by Dan Nathan

and Danny Moses. The name of the song, Danny, I can see clearly now the rain is gone.

I can see clearly now the rain is gone. gone that I can see all obstacles in my way

and I'll tell you for the last few weeks I haven't been able to see all that clearly

in terms of the markets couple of these rallies have really caught me off guard

but over the last 24 hours things have sort of crystallized for me. My glasses are back on.

I can fact, can see clearly now because what's abundantly clear now to the market as well,

Jerome Powell and his band of merry men and a few women are steadfast in their desire, not only

to defeat inflation, but to put it in the ground.

And I will tell you up until the last couple days, the market was not taking that seriously.

And finally, we're starting to see the market react to what I think's been inevitable for

quite some time, Danny.

I thought you were going to do a little counting crows.

It's been a long December because it feels this is a long December.

We are only halfway through this month.

I get the last week doesn't count.

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