Writes Richard Daughty, the Mogambo Guru: "The US dollar, to my utter astonishment, has been strengthening lately, when it should be collapsing, as befits the currency of the biggest debtor nation in the world and one which has has borrowed so damned much money, for so many decades, and which now has an economy comprised mainly of shuffling financial assets about, growing a huge, suffocating, labyrinthine system of spend-o-holic governments supporting an entire parasite class, and paying for it all with the aforementioned debt and lots and lots of taxes. Whew!

"But this could all be ending soon, as I noticed that the S&P500 index went up to 1,298, even as the average earnings per share of the S&P500 dropped to US$51.83 from $60.39! Earnings went down but the stocks went up! Weird!

"And this is a goodly drop in earnings, which seems a little goodlier when you remember that 12 months ago the damned S&P500 index was at 1,445.94 when earnings were $85.11, resulting in a price-to-earnings ratio of 17!

"And don't get me started about how the venerable Dow Jones Industrial Average has negative earnings and thus a negative P/E ratio. How much is a damned index worth that is losing more and more money? Apparently, a lot! Hahahaha!" Read more.