“Should You Borrow to the Hilt and Put It All Into Stocks?”

Questions like the above aren’t asked in mainstream publications like the Wall Street Journal during market panic—they’re asked at peaks.

And whatever is going on out there, this is a peak.

Two-plus trillion has been thrown at the U.S. consumer, making the American P&L more than whole after last Spring’s economic free-fall, and the Fed has backstopped the American balance sheet with its asset buying.

So interest rates will go higher from here, and the vaccines guarantee it.

This is not a particularly bold call—the ten-year Treasury has already doubled from the low of 50 basis points—and there’s no reason it can’t double again once the Fed realizes that the U.S. economy has made a remarkable recovery from predictions of 20% unemployment rates and never-again prosperity.

Time to take some of those chips and turn them into cash.

And be sure to thank the House, like Alex Turner here, during the Arctic Monkeys' first U.S. tour in 2005: