BREAKING: Amazon Shares Trade Above $1,000 for the First Time Ever

This is the est indication yet that we remain in the bull phase, of the Federal Reserve created boom-bust business cycle.

Amazon has a trailing PE of 183 on a stock with a market capitalization of $476 billion!

This would not happen in the bust phase.

Further, as David Stockman put it in his book Trumped:

Amazon may well be effecting the greatest retail revolution in history, but it's been around 25 years and still has never posted more than pocket change in profits. More importantly, it is a monumental cash-burning machine that one day will run out of fuel. 

 -RW