The Fed fixes in the deep financial state unmasked.

Hey, Peter Navarro here with this week's market

and economy wrap for the week ending December 15, 2023.

Here, the old Wild West expression, Katie Bar of the Door comes to mind,

is the S&P 500 once again finished up for the week with a little give back on Thursday and Friday.

Technicians look at the breach of 4,600 on the S&P 500 that blowing through a key resistance level and thus paving the way for a sustained run-up.

In the short term, the stock market is technically in an over-bought condition, signaling a possible pullback.

There is also this. Virtually all the bears on Wall Street have turned tail and closed their short positions.

So where might the money come from for that next bullish leg up?

And there is this big Christmas what if. What if portfolio managers start closing

positions to book their profits for the year.

As a Christmas surprise, it could turn very ugly.

And what do they say, Wall Street climbs a wall of worry?

The perennial question we have pondered during this unexpected bull run is this.

Just what the heck is going on?

The short answer, and that is a very misplaced pun,

given the circumstances, is what I learned

about getting my PhD at Harvard in the 1980s about something called the political business cycle. To which

economic growth in an election year tends to be systematically higher is the

incumbent guns both the fiscal and monetary policy levers.

What we are witnessing today is the political business cycle on steroids.

Not only are the White House and Congress in on the fiscal policy fix,

...