DOW and S&P both hit highs this week. CPI reasonable at 3.4%. Jobs fine. Gas prices are down from the highs of last summer (down 40% since then), now just $3. Consumer sentiment increased in past 2 months the most since 1991. Inflaiton expectations down. Trillions still on sidelines of stock market. So even if lower expectations happen for companies, meltup could continue. Consumer may not stay as strong.

Federal debt payments ‘pretty scary’ while we ‘need to keep stock market up’ and other things up. A hole dug over past couple years that has to be filled. 60% of Americans own stocks, about the same number as home ownership (which peaked at 70% before 2008).

Gross margin decay? Government to step in to make sure it's not just the biggest companies winning?

Tesla may be in belt-tightening phase and this may represent the economy because Tesla's been really good at this type of understanding.

Chinese government taking actions to prop up stock market, with $300m.

Could be a shock in price of oil if Middle East has more violence.

'We'll never have that magnitude of money dropped on the economy ever again.'