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Message: [QUOTE="McLovin, post: 3594152, member: 9450"] The main thing that scares me is the underlying economic data not improving and Covid cases spiking again. States are starting to back track re-opening (Texas already did, I'm sure more will follow). While B2B companies may have some protection, any consumer business or financial services business could be in trouble. Over [URL='https://www.cnbc.com/2020/06/26/coronavirus-mortgage-bailouts-suddenly-swell-as-homeowners-struggle.html']8% of all mortgages are in forbearance[/URL]. At the height of the 2008/09 crisis delinquencies [URL='https://www.bloomberg.com/news/articles/2020-04-02/home-lenders-brace-for-up-to-15-million-u-s-mortgage-defaults']peaked at 10%[/URL]. While forbearance is not technically the same as being delinquent, those mortgages are not being paid. And if 8% of mortgage holders can't afford to pay their mortgage, I doubt they have the money to spend on non-essentials. During good times I don't care about underlying economic data (mortgage data, unemployment, consumer sentiment, GDP, etc.), I feel like it all washes out and the market can continue to hum. But with the underlying data remaining poor / worsening, I just don't understand how the stock market continues to go up like it has. Not saying stocks should go to 0, many businesses can weather this storm / the government will keep them propped up, but I feel it doesn't make sense that they are near all-time high levels, currently. [/QUOTE]