Back in the High Life

And we'll dance and drink with one hand free
And have the world so easily
And oh we'll be a sight to see
--Steve Winwood

On the back of yesterday's eye-popping job report, the NASDAQ Composite Index hit an all time high.

The action finds many bears howling. I get it, believe me. Many seemingly insurmountable issues lie ahead.

However, I don't think the Lockdown Depression is what brings the house down. Further, stocks may not be a good indicator of real economic angst when markets begin to forecast the end game. If the future involves Big Inflation, stock prices may go higher, perhaps much higher, to adjust for depreciating currencies and the supply of dollars in the system.