It's been a brutal summer for news.
ISIS, Ebola, Ferguson, drought, climate change, yet another Malaysian Airliner. There has been no shortage of reasons to be angry, upset and scared.
But there is one place where people have managed to turn that frown upside-down this summer. People in this one special place have managed to see the silver-lining in ever cloud, and everyone is so happy they are described as euphoric.
That magical place is called Wall Street.
"Sell in May and Go Away" has been the rule on Wall Street stock prices were written in chalk on a blackboard. The reason is because stocks traditionally lag during the summer before picking up again in the fall.
But things were certainly different this summer. Very different.
"We've had a heck of a run, it's been over three years since we've had a 10 percent correction, and the latest bout with weakness didn't even get to a five percent correction," Hinds added.Widespread geopolitical problems? Who cares! CBO cuts economic growth forecast in half? Stocks barely even blink.
"There's an expectation that times are good and are going to get better, and that this economy has legs," said Brad McMillan, chief investment officer at Commonwealth Financial.
Nothing is going to get in the way of Wall Street's optimism this year. Or is it Wall Street's greed?
It should be noted that much of these stock purchases have been done with borrowed money (i.e. margin debt).
So what's going on? Why aren't more people flocking to the Happiest Place on Earth? More importantly, who is pushing up the stock market?
The answer to the last question is simple - corporations.
As most of you already know, the bulk of executive compensation is in company stocks.
Where is all this money coming from? From the workers.
In fact, just this past year, during this huge, uninterrupted stock boom that has enriched corporate executives, the wages for almost everyone in the working class has fallen.
Wages for workers at every pay level except the bottom 10 percent declined from the second half of 2013 through the second half of 2014, according to a report from the Economic Policy Institute released Wednesday.Quite simply, this is class war and the wealthy are winning. The news is full of stories about how the economy is booming, but the working class doesn't buy it.
For 70 percent of the workforce, inflation-adjusted hourly wages are still lower than they were in 2007, and wages for all groups are lower than they were at the end of the recession in 2009.
Meanwhile, the richest 5 percent of Americans experienced hourly pay growth of 40.6 percent.
By the way, isn't it time to retire the term "middle class"? Either you work for a living or you are one of the bosses.