Markets calmed down somewhat during the second quarter, but that doesn’t imply smooth sailing from here. If anything, less drama has opened the door to fiery debates on the direction of the economy and financial markets.
The bears point to monetary policies that are creating runaway inflation and artificially fueling valuations of everything from stocks to cryptocurrencies. It’s only a matter of time before this house of cards falls.
But the bulls argue that this is just the beginning. Repeated all-time highs in the stock market and strong corporate earnings suggest that we are entering one of the greatest bull markets in history.