US National Debt as % of GDP... 1980: 31% 1985: 40% 1990: 52% 1995: 65% 2000: 58% 2005: 61% 2010: 87% 2015: 101% 2020: 126% Today: 122%

The relative stickiness of inflation is one reason the Fed has no urgency to cut here

This is no ordinarily bull market! The rise in the S&P 500 over the last two years has been one of the strongest since 1928, per Goldman.