1. Mention of Inflation of Earnings Calls have Tripled.

Exhibit A: the chart below showing the number of mentions of “inflation” during earnings calls which exploded, more than tripling YoY per company so far, the and the biggest jump in history since BofA started keeping records in 2004.

1. Chinese Firms IPO in U.S. at Record Pace 2021

1. No Correlation Between Cap Gains Rate and Stock Returns 

Virtually no relationship between changes in capital gains tax rate & S&P 500 returns in year of change … last time cap gains went up (in 2013), S&P 500 had stellar year (up 30%)

1. SPAC IPOs 109 in March vs. 10 in April.