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In each case, the market suffered a pullback shortly thereafter. The world is getting better.

Melt-up indeed In early December, I wrote about the anatomy of a melt-up in the stock market and it appears we entered that state this year. We take comfort in the fact that the latest surge has been earnings-driven, and not a function of pure valuation expansion.

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We take comfort in the likely acceleration of economic growth, aided by a strong pick-up in business capital spending capex. We take comfort in the fact that although attitudinal measures of investor sentiment show excessive optimism, behavioral measures like fund flows only recently show heightened enthusiasm for U.

Life's Been Good Tour Dates and Concert Tickets

But headline measures have been pushed up courtesy of higher oil prices, while the U. And the tight labor market should begin to put more sustained upward pressure on wage growth. Since the financial crisis, the correlation between inflation and stocks has been positive.

Life's Been Good (HQ Audio) - Joe Walsh

This is typical of a deflationary bust which is what the global financial crisis represented and the subsequent recovery period. As you can see in first chart below, we are seeing a descent in the correlation between stocks and inflation as measured by the year breakeven inflation rate —typically in a rate hike cycle, the two are inversely correlated, as was the case from to And as you can see in the second chart below, we are seeing an ascent in the correlation between volatility as measured by the VIX and inflation—typically in a rate hike cycle, the two are positively correlated, as was the case from to Descending correlation between inflation and stocks.

Chart plots rolling day correlation between U. Yes, financial conditions remain quite easy—notwithstanding the Fed having been in rate hike mode for more than two years. The St. There is also a more simple way to think about this; which is to look at past periods with similar recent performance to see what has unfolded thereafter.

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It worked out ok on the gig tonight but its not perfect. I'll just keep plugging away. I think I may open another slot and mix in some white noise to get closer to the original sound.

25/01/12222: “Life’s Been Good” by Joe Walsh

If that fails I may have to try sampling the sound. This is not so much a programing exercise for me as a practical need for an Eagles tribute band I'm working with. I'll share the file if I have any success.

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Free Download. Have you taken the time to count your blessings?

“Life’s Been Good” by Joe Walsh

Life's been good, life's been good. Have you noticed how many times you've been rewarded? Life's been good, oh, so good You look up, look around Why, there's no reason to be cast down You work hard, to be sure So now be happy while you stand secure Have you taken the time to count your blessings? Life's been good, oh, life's been good 2.